Can I retire at age 53 with 2,980,000?

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 $2,980,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.3%
1 years$246,086$243,894$241,755$239,668$237,629$232,452
2 years$121,825$119,556$117,357$115,225$113,157$107,966
3 years$80,410$78,131$75,938$73,826$71,791$66,750
4 years$59,706$57,435$55,263$53,187$51,202$46,349
5 years$47,287$45,029$42,886$40,853$38,923$34,272
6 years$39,011$36,770$34,659$32,670$30,799$26,354
7 years$33,101$30,879$28,801$26,860$25,047$20,811
8 years$28,671$26,469$24,426$22,532$20,779$16,749
9 years$25,228$23,046$21,038$19,193$17,499$13,672
10 years$22,474$20,314$18,341$16,544$14,910$11,282
11 years$20,223$18,084$16,148$14,398$12,823$9,390
12 years$18,348$16,232$14,331$12,629$11,112$7,868
13 years$16,763$14,669$12,803$11,150$9,690$6,629
14 years$15,405$13,333$11,504$9,898$8,494$5,611
15 years$14,230$12,180$10,386$8,827$7,479$4,767
16 years$13,203$11,175$9,417$7,903$6,610$4,062
17 years$12,297$10,292$8,569$7,101$5,861$3,470
18 years$11,493$9,510$7,822$6,400$5,211$2,971
19 years$10,774$8,814$7,161$5,783$4,645$2,549
20 years$10,128$8,190$6,572$5,237$4,149$2,190
21 years$9,544$7,629$6,045$4,753$3,713$1,884
22 years$9,014$7,121$5,571$4,322$3,328$1,622
23 years$8,531$6,661$5,144$3,936$2,987$1,399
24 years$8,089$6,240$4,757$3,590$2,685$1,207
25 years$7,683$5,856$4,406$3,278$2,416$1,042
26 years$7,309$5,504$4,087$2,998$2,176$900
27 years$6,963$5,180$3,795$2,744$1,962$778
28 years$6,642$4,881$3,528$2,514$1,771$673
29 years$6,344$4,605$3,283$2,305$1,599$582
30 years$6,066$4,349$3,058$2,116$1,445$504
31 years$5,807$4,111$2,851$1,943$1,306$436
32 years$5,564$3,890$2,660$1,786$1,181$378
33 years$5,337$3,684$2,484$1,642$1,069$327
34 years$5,123$3,491$2,320$1,511$968$283
35 years$4,922$3,311$2,169$1,391$877$245
36 years$4,733$3,143$2,029$1,281$794$213
37 years$4,554$2,985$1,900$1,180$720$184
38 years$4,385$2,837$1,779$1,088$653$160
39 years$4,226$2,698$1,667$1,003$592$138
40 years$4,074$2,567$1,562$925$537$120
41 years$3,930$2,443$1,465$854$487$104
42 years$3,794$2,327$1,374$788$442$90
43 years$3,664$2,217$1,289$727$401$78
44 years$3,541$2,113$1,210$671$364$68
45 years$3,423$2,015$1,136$620$331$59
46 years$3,311$1,922$1,067$573$300$51
47 years$3,204$1,835$1,003$529$273$44
48 years$3,101$1,751$942$489$247$38
49 years$3,003$1,672$886$452$225$33
50 years$2,910$1,598$833$418$204$29

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $2,980,000, adding $2,808 every year, while hoping to spend $48,639 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: 54/16/30 Blend
52$2,980,000$2,980,000$2,980,000$2,980,000
53$3,286,856$3,128,916$3,082,726$3,436,688
54$3,570,364$3,230,482$3,134,246$3,642,406
55$3,881,160$3,335,394$3,185,862$3,861,085
56$4,221,975$3,443,765$3,237,525$4,098,227
57$4,595,819$3,555,712$3,289,184$4,355,626
58$5,006,005$3,671,355$3,340,785$4,635,259
59$5,456,185$3,790,819$3,392,269$4,939,301
60$5,950,380$3,914,233$3,443,574$5,270,146
61$6,493,020$4,041,731$3,494,634$5,630,434
62$7,088,983$4,173,451$3,545,380$6,023,069
63$7,743,645$4,309,536$3,595,736$6,451,251
64$8,462,927$4,450,134$3,645,624$6,918,504
65$9,253,354$4,595,398$3,694,960$7,428,711
66$10,122,111$4,745,487$3,743,656$7,986,148
67$11,077,116$4,900,566$3,791,618$8,595,524
68$12,127,092$5,060,804$3,838,747$9,262,028
69$13,281,648$5,226,376$3,884,939$9,991,377
70$14,551,374$5,397,467$3,930,082$10,789,867
71$15,947,934$5,574,263$3,974,060$11,664,436
72$17,484,182$5,756,960$4,016,749$12,622,728
73$19,174,278$5,945,760$4,058,019$13,673,162
74$21,033,825$6,140,873$4,097,734$14,825,017
75$23,080,014$6,342,515$4,135,747$16,088,514
76$25,331,788$6,550,911$4,171,907$17,474,916
77$27,810,018$6,766,293$4,206,054$18,996,634
78$30,537,701$6,988,902$4,238,017$20,667,339
79$33,540,175$7,218,987$4,267,620$22,502,097
80$36,845,362$7,456,807$4,294,675$24,517,511
81$40,484,028$7,702,629$4,318,984$26,731,870
82$44,490,070$7,956,729$4,340,342$29,165,331
83$48,900,845$8,219,396$4,358,531$31,840,104
84$53,757,511$8,490,927$4,373,322$34,780,660
85$59,105,424$8,771,629$4,384,475$38,013,969
86$64,994,560$9,061,822$4,391,737$41,569,745
87$71,479,990$9,361,836$4,394,846$45,480,734
88$78,622,397$9,672,014$4,393,521$49,783,018
89$86,488,651$9,992,712$4,387,474$54,516,361
90$95,152,436$10,324,297$4,376,396$59,724,577
91$104,694,948$10,667,151$4,359,969$65,455,949
92$115,205,660$11,021,670$4,337,856$71,763,685
93$126,783,168$11,388,262$4,309,705$78,706,416
94$139,536,118$11,767,353$4,275,146$86,348,751
95$153,584,232$12,159,383$4,233,793$94,761,891
96$169,059,439$12,564,809$4,185,241$104,024,295
97$186,107,120$12,984,103$4,129,065$114,222,424
98$204,887,479$13,417,757$4,064,822$125,451,557
99$225,577,054$13,866,279$3,992,045$137,816,690
100$248,370,384$14,330,196$3,910,249$151,433,528