Can I retire at age 53 with 2,940,000?

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 $2,940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.4%
1 years$242,782$240,620$238,510$236,451$234,440$229,238
2 years$120,189$117,951$115,782$113,678$111,638$106,424
3 years$79,330$77,082$74,918$72,835$70,828$65,765
4 years$58,905$56,664$54,521$52,473$50,515$45,642
5 years$46,653$44,425$42,311$40,305$38,401$33,731
6 years$38,487$36,276$34,193$32,232$30,385$25,924
7 years$32,657$30,465$28,415$26,500$24,711$20,460
8 years$28,287$26,114$24,098$22,230$20,500$16,457
9 years$24,889$22,737$20,756$18,935$17,264$13,425
10 years$22,172$20,041$18,095$16,322$14,710$11,072
11 years$19,951$17,842$15,931$14,205$12,651$9,209
12 years$18,102$16,014$14,138$12,460$10,963$7,712
13 years$16,538$14,472$12,632$11,000$9,560$6,493
14 years$15,199$13,154$11,349$9,765$8,380$5,492
15 years$14,039$12,017$10,247$8,708$7,379$4,662
16 years$13,025$11,025$9,290$7,797$6,521$3,970
17 years$12,132$10,154$8,454$7,006$5,782$3,389
18 years$11,338$9,383$7,717$6,314$5,141$2,900
19 years$10,629$8,696$7,065$5,705$4,583$2,486
20 years$9,992$8,080$6,484$5,167$4,093$2,134
21 years$9,416$7,527$5,964$4,689$3,663$1,834
22 years$8,893$7,026$5,497$4,264$3,283$1,579
23 years$8,417$6,571$5,075$3,883$2,947$1,360
24 years$7,981$6,157$4,694$3,542$2,649$1,172
25 years$7,580$5,778$4,347$3,234$2,384$1,011
26 years$7,210$5,430$4,032$2,957$2,147$873
27 years$6,869$5,110$3,744$2,707$1,936$754
28 years$6,553$4,816$3,480$2,480$1,747$652
29 years$6,259$4,543$3,239$2,274$1,577$563
30 years$5,985$4,290$3,017$2,087$1,425$487
31 years$5,729$4,056$2,813$1,917$1,289$421
32 years$5,489$3,838$2,624$1,762$1,166$364
33 years$5,265$3,634$2,450$1,620$1,055$315
34 years$5,054$3,444$2,289$1,491$955$273
35 years$4,856$3,267$2,140$1,372$865$236
36 years$4,669$3,101$2,002$1,264$784$205
37 years$4,493$2,945$1,874$1,164$710$177
38 years$4,327$2,799$1,755$1,073$644$153
39 years$4,169$2,661$1,644$990$584$133
40 years$4,019$2,532$1,541$913$530$115
41 years$3,878$2,410$1,445$842$481$100
42 years$3,743$2,296$1,356$777$436$86
43 years$3,615$2,187$1,272$717$396$75
44 years$3,493$2,085$1,194$662$359$65
45 years$3,377$1,988$1,121$612$326$56
46 years$3,266$1,897$1,053$565$296$49
47 years$3,161$1,810$989$522$269$42
48 years$3,060$1,728$930$482$244$37
49 years$2,963$1,650$874$446$222$32
50 years$2,870$1,576$821$412$201$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $2,940,000, adding $4,664 every year, while hoping to spend $27,976 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: 87/5/8 Blend
52$2,940,000$2,940,000$2,940,000$2,940,000
53$3,244,691$3,088,871$3,043,301$3,523,995
54$3,545,883$3,210,459$3,115,485$3,828,351
55$3,876,859$3,337,068$3,189,150$4,158,490
56$4,240,628$3,468,913$3,264,316$4,520,471
57$4,640,503$3,606,221$3,341,001$4,917,483
58$5,080,137$3,749,228$3,419,227$5,353,042
59$5,563,552$3,898,181$3,499,012$5,831,020
60$6,095,180$4,053,338$3,580,375$6,355,681
61$6,679,904$4,214,968$3,663,334$6,931,723
62$7,323,106$4,383,353$3,747,907$7,564,320
63$8,030,713$4,558,787$3,834,112$8,259,172
64$8,809,256$4,741,578$3,921,965$9,022,560
65$9,665,931$4,932,047$4,011,482$9,861,401
66$10,608,669$5,130,530$4,102,680$10,783,315
67$11,646,206$5,337,378$4,195,572$11,796,701
68$12,788,168$5,552,959$4,290,173$12,910,806
69$14,045,163$5,777,656$4,386,495$14,135,822
70$15,428,878$6,011,870$4,484,551$15,482,978
71$16,952,193$6,256,020$4,584,353$16,964,642
72$18,629,296$6,510,545$4,685,908$18,594,444
73$20,475,826$6,775,903$4,789,228$20,387,400
74$22,509,011$7,052,573$4,894,318$22,360,055
75$24,747,838$7,341,057$5,001,185$24,530,638
76$27,213,227$7,641,878$5,109,834$26,919,235
77$29,928,230$7,955,584$5,220,268$29,547,976
78$32,918,250$8,282,748$5,332,487$32,441,245
79$36,211,279$8,623,970$5,446,493$35,625,912
80$39,838,160$8,979,876$5,562,281$39,131,580
81$43,832,883$9,351,120$5,679,848$42,990,870
82$48,232,902$9,738,390$5,799,188$47,239,727
83$53,079,488$10,142,401$5,920,291$51,917,756
84$58,418,121$10,563,904$6,043,146$57,068,599
85$64,298,918$11,003,683$6,167,739$62,740,344
86$70,777,103$11,462,560$6,294,054$68,985,981
87$77,913,533$11,941,391$6,422,071$75,863,899
88$85,775,270$12,441,076$6,551,767$83,438,438
89$94,436,213$12,962,554$6,683,117$91,780,494
90$103,977,796$13,506,808$6,816,090$100,968,192
91$114,489,756$14,074,867$6,950,654$111,087,618
92$126,070,983$14,667,807$7,086,773$122,233,635
93$138,830,448$15,286,754$7,224,404$134,510,773
94$152,888,235$15,932,886$7,363,503$148,034,221
95$168,376,674$16,607,437$7,504,020$162,930,910
96$185,441,591$17,311,697$7,645,900$179,340,711
97$204,243,679$18,047,016$7,789,084$197,417,755
98$224,960,022$18,814,808$7,933,506$217,331,888
99$247,785,763$19,616,552$8,079,097$239,270,271
100$272,935,943$20,453,795$8,225,779$263,439,151