Can I retire at age 53 with 2,950,000?

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 $2,950,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$243,608$241,438$239,321$237,255$235,237$231,531
2 years$120,598$118,352$116,175$114,065$112,018$108,293
3 years$79,600$77,344$75,173$73,082$71,069$67,442
4 years$59,105$56,856$54,707$52,652$50,687$47,186
5 years$46,811$44,576$42,455$40,442$38,531$35,166
6 years$38,618$36,400$34,310$32,341$30,488$27,263
7 years$32,768$30,568$28,512$26,590$24,795$21,710
8 years$28,383$26,203$24,180$22,305$20,570$17,625
9 years$24,974$22,814$20,826$18,999$17,323$14,517
10 years$22,248$20,110$18,157$16,378$14,760$12,090
11 years$20,019$17,902$15,985$14,253$12,694$10,158
12 years$18,163$16,068$14,186$12,502$11,000$8,595
13 years$16,594$14,521$12,674$11,038$9,593$7,314
14 years$15,250$13,199$11,388$9,798$8,409$6,254
15 years$14,087$12,058$10,282$8,738$7,404$5,368
16 years$13,070$11,063$9,322$7,824$6,544$4,623
17 years$12,173$10,188$8,483$7,030$5,802$3,992
18 years$11,377$9,414$7,744$6,335$5,159$3,456
19 years$10,666$8,725$7,089$5,724$4,598$2,997
20 years$10,026$8,108$6,506$5,185$4,107$2,604
21 years$9,448$7,552$5,984$4,705$3,675$2,266
22 years$8,924$7,050$5,515$4,278$3,295$1,974
23 years$8,445$6,593$5,092$3,896$2,957$1,722
24 years$8,008$6,178$4,710$3,554$2,658$1,503
25 years$7,606$5,797$4,362$3,245$2,392$1,313
26 years$7,235$5,449$4,046$2,967$2,155$1,148
27 years$6,892$5,128$3,757$2,716$1,943$1,005
28 years$6,575$4,832$3,492$2,489$1,753$880
29 years$6,280$4,558$3,250$2,282$1,583$770
30 years$6,005$4,305$3,027$2,094$1,430$675
31 years$5,748$4,070$2,822$1,923$1,293$592
32 years$5,508$3,851$2,633$1,768$1,170$519
33 years$5,283$3,647$2,459$1,626$1,058$455
34 years$5,072$3,456$2,297$1,496$958$399
35 years$4,873$3,278$2,148$1,377$868$350
36 years$4,685$3,111$2,009$1,268$786$307
37 years$4,508$2,955$1,880$1,168$713$270
38 years$4,341$2,808$1,761$1,077$646$237
39 years$4,183$2,671$1,650$993$586$208
40 years$4,033$2,541$1,546$916$531$183
41 years$3,891$2,419$1,450$845$482$160
42 years$3,756$2,303$1,360$780$438$141
43 years$3,627$2,195$1,276$720$397$124
44 years$3,505$2,092$1,198$665$360$109
45 years$3,388$1,995$1,125$614$327$95
46 years$3,277$1,903$1,057$567$297$84
47 years$3,171$1,816$993$524$270$74
48 years$3,070$1,734$933$484$245$65
49 years$2,973$1,656$877$447$223$57
50 years$2,880$1,581$824$414$202$50

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $2,950,000, adding $2,135 every year, while hoping to spend $49,949 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: 73/11/16 Blend
52$2,950,000$2,950,000$2,950,000$2,950,000
53$3,253,102$3,096,752$3,051,027$3,478,655
54$3,531,773$3,195,348$3,100,091$3,727,041
55$3,837,195$3,297,100$3,149,125$3,992,733
56$4,172,042$3,402,112$3,198,074$4,282,463
57$4,539,263$3,510,488$3,246,882$4,598,606
58$4,942,103$3,622,337$3,295,488$4,943,775
59$5,384,138$3,737,772$3,343,827$5,320,849
60$5,869,305$3,856,908$3,391,831$5,732,998
61$6,401,943$3,979,865$3,439,426$6,183,714
62$6,986,830$4,106,767$3,486,535$6,676,842
63$7,629,230$4,237,742$3,533,077$7,216,619
64$8,334,941$4,372,921$3,578,965$7,807,711
65$9,110,353$4,512,442$3,624,108$8,455,257
66$9,962,501$4,656,444$3,668,408$9,164,919
67$10,899,140$4,805,074$3,711,764$9,942,934
68$11,928,811$4,958,480$3,754,066$10,796,173
69$13,060,923$5,116,820$3,795,201$11,732,206
70$14,305,846$5,280,252$3,835,049$12,759,371
71$15,675,001$5,448,943$3,873,481$13,886,856
72$17,180,973$5,623,064$3,910,365$15,124,783
73$18,837,629$5,802,791$3,945,559$16,484,304
74$20,660,246$5,988,306$3,978,914$17,977,706
75$22,665,657$6,179,799$4,010,274$19,618,526
76$24,872,409$6,377,465$4,039,473$21,421,681
77$27,300,938$6,581,503$4,066,339$23,403,604
78$29,973,760$6,792,124$4,090,688$25,582,403
79$32,915,686$7,009,540$4,112,328$27,978,032
80$36,154,054$7,233,975$4,131,059$30,612,473
81$39,718,986$7,465,658$4,146,667$33,509,953
82$43,643,673$7,704,826$4,158,931$36,697,161
83$47,964,688$7,951,723$4,167,616$40,203,511
84$52,722,332$8,206,603$4,172,477$44,061,411
85$57,961,011$8,469,728$4,173,256$48,306,571
86$63,729,657$8,741,367$4,169,683$52,978,342
87$70,082,188$9,021,801$4,161,473$58,120,086
88$77,078,019$9,311,316$4,148,330$63,779,583
89$84,782,619$9,610,213$4,129,942$70,009,484
90$93,268,131$9,918,799$4,105,980$76,867,807
91$102,614,053$10,237,393$4,076,103$84,418,485
92$112,907,985$10,566,323$4,039,951$92,731,968
93$124,246,458$10,905,932$3,997,148$101,885,889
94$136,735,844$11,256,569$3,947,299$111,965,795
95$150,493,359$11,618,600$3,889,992$123,065,957
96$165,648,169$11,992,399$3,824,795$135,290,257
97$182,342,612$12,378,356$3,751,255$148,753,168
98$200,733,536$12,776,873$3,668,899$163,580,838
99$220,993,780$13,188,364$3,577,232$179,912,277
100$243,313,811$13,613,259$3,475,734$197,900,670