Can I retire at age 53 with 2,930,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $2,930,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.6%
1 years$241,957$239,801$237,699$235,646$233,642$228,272
2 years$119,781$117,550$115,388$113,292$111,258$105,878
3 years$79,060$76,820$74,664$72,587$70,587$65,364
4 years$58,704$56,471$54,336$52,295$50,343$45,318
5 years$46,494$44,274$42,167$40,167$38,270$33,457
6 years$38,356$36,153$34,077$32,122$30,282$25,685
7 years$32,546$30,361$28,318$26,409$24,627$20,248
8 years$28,190$26,025$24,016$22,154$20,431$16,267
9 years$24,804$22,660$20,685$18,870$17,206$13,255
10 years$22,097$19,973$18,034$16,267$14,660$10,918
11 years$19,884$17,781$15,877$14,157$12,608$9,069
12 years$18,040$15,959$14,090$12,417$10,926$7,585
13 years$16,482$14,423$12,589$10,963$9,528$6,378
14 years$15,147$13,110$11,311$9,731$8,352$5,387
15 years$13,991$11,976$10,212$8,679$7,354$4,567
16 years$12,981$10,988$9,259$7,771$6,499$3,883
17 years$12,091$10,119$8,425$6,982$5,763$3,311
18 years$11,300$9,351$7,691$6,292$5,124$2,828
19 years$10,593$8,666$7,041$5,686$4,567$2,421
20 years$9,958$8,053$6,462$5,149$4,079$2,075
21 years$9,384$7,501$5,944$4,673$3,651$1,781
22 years$8,863$7,002$5,478$4,249$3,272$1,530
23 years$8,388$6,549$5,058$3,870$2,937$1,316
24 years$7,953$6,136$4,678$3,530$2,640$1,133
25 years$7,554$5,758$4,332$3,223$2,376$976
26 years$7,186$5,412$4,018$2,947$2,140$841
27 years$6,846$5,093$3,731$2,698$1,929$725
28 years$6,530$4,799$3,469$2,472$1,741$626
29 years$6,237$4,527$3,228$2,267$1,572$540
30 years$5,964$4,276$3,007$2,080$1,420$466
31 years$5,709$4,042$2,803$1,910$1,284$403
32 years$5,471$3,824$2,615$1,756$1,162$348
33 years$5,247$3,622$2,442$1,615$1,051$300
34 years$5,037$3,433$2,282$1,486$952$260
35 years$4,840$3,256$2,133$1,368$862$224
36 years$4,654$3,090$1,995$1,259$781$194
37 years$4,478$2,935$1,868$1,160$708$168
38 years$4,312$2,789$1,749$1,070$642$145
39 years$4,155$2,652$1,639$986$582$125
40 years$4,006$2,524$1,536$910$528$108
41 years$3,865$2,402$1,440$839$479$94
42 years$3,730$2,288$1,351$775$435$81
43 years$3,603$2,180$1,268$715$394$70
44 years$3,481$2,078$1,190$660$358$61
45 years$3,366$1,981$1,117$610$325$52
46 years$3,255$1,890$1,049$563$295$45
47 years$3,150$1,804$986$520$268$39
48 years$3,049$1,722$926$481$243$34
49 years$2,953$1,644$871$444$221$29
50 years$2,861$1,571$819$411$201$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $2,930,000, adding $5,428 every year, while hoping to spend $57,615 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 64/23/13 Blend
52$2,930,000$2,930,000$2,930,000$2,930,000
53$3,234,459$3,079,169$3,033,754$3,431,257
54$3,503,072$3,168,746$3,074,083$3,653,148
55$3,797,152$3,260,782$3,113,832$3,888,259
56$4,119,237$3,355,336$3,152,920$4,143,645
57$4,472,120$3,452,468$3,191,264$4,421,279
58$4,858,877$3,552,240$3,228,772$4,723,334
59$5,282,898$3,654,715$3,265,352$5,052,203
60$5,747,914$3,759,956$3,300,901$5,410,520
61$6,258,036$3,868,029$3,335,316$5,801,185
62$6,817,791$3,978,997$3,368,484$6,227,393
63$7,432,166$4,092,929$3,400,289$6,692,661
64$8,106,655$4,209,890$3,430,606$7,200,864
65$8,847,308$4,329,949$3,459,306$7,756,267
66$9,660,792$4,453,175$3,486,251$8,363,572
67$10,554,449$4,579,637$3,511,297$9,027,954
68$11,536,370$4,709,406$3,534,293$9,755,116
69$12,615,466$4,842,553$3,555,077$10,551,338
70$13,801,554$4,979,149$3,573,484$11,423,541
71$15,105,452$5,119,267$3,589,335$12,379,347
72$16,539,076$5,262,979$3,602,445$13,427,152
73$18,115,555$5,410,358$3,612,620$14,576,210
74$19,849,353$5,561,477$3,619,655$15,836,711
75$21,756,409$5,716,411$3,623,335$17,219,885
76$23,854,281$5,875,233$3,623,435$18,738,103
77$26,162,315$6,038,017$3,619,717$20,404,998
78$28,701,827$6,204,837$3,611,934$22,235,587
79$31,496,305$6,375,765$3,599,826$24,246,419
80$34,571,627$6,550,877$3,583,119$26,455,726
81$37,956,307$6,730,244$3,561,527$28,883,598
82$41,681,763$6,913,938$3,534,751$31,552,171
83$45,782,614$7,102,032$3,502,476$34,485,836
84$50,297,005$7,294,596$3,464,373$37,711,470
85$55,266,968$7,491,699$3,420,098$41,258,688
86$60,738,816$7,693,410$3,369,289$45,160,122
87$66,763,583$7,899,795$3,311,568$49,451,731
88$73,397,503$8,110,919$3,246,540$54,173,138
89$80,702,539$8,326,846$3,173,790$59,368,005
90$88,746,972$8,547,635$3,092,886$65,084,445
91$97,606,040$8,773,346$3,003,374$71,375,476
92$107,362,649$9,004,032$2,904,780$78,299,520
93$118,108,157$9,239,748$2,796,608$85,920,958
94$129,943,234$9,480,541$2,678,339$94,310,731
95$142,978,812$9,726,456$2,549,432$103,547,016
96$157,337,133$9,977,534$2,409,320$113,715,962
97$173,152,898$10,233,811$2,257,410$124,912,502
98$190,574,544$10,495,318$2,093,084$137,241,249
99$209,765,640$10,762,080$1,915,694$150,817,485
100$230,906,430$11,034,117$1,724,565$165,768,248