Can I retire at age 53 with 3,000,000?

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 $3,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$247,737$245,530$243,378$241,276$239,224$237,518
2 years$122,642$120,358$118,144$115,998$113,916$112,195
3 years$80,949$78,655$76,447$74,321$72,273$70,591
4 years$60,107$57,820$55,634$53,544$51,546$49,916
5 years$47,605$45,332$43,174$41,127$39,184$37,611
6 years$39,273$37,017$34,891$32,890$31,005$29,491
7 years$33,324$31,087$28,995$27,040$25,216$23,761
8 years$28,864$26,647$24,590$22,684$20,919$19,523
9 years$25,397$23,201$21,179$19,321$17,617$16,280
10 years$22,625$20,450$18,465$16,655$15,010$13,732
11 years$20,359$18,206$16,256$14,495$12,909$11,689
12 years$18,471$16,341$14,427$12,714$11,187$10,023
13 years$16,875$14,767$12,889$11,225$9,755$8,646
14 years$15,509$13,423$11,581$9,964$8,551$7,497
15 years$14,326$12,262$10,456$8,886$7,529$6,527
16 years$13,291$11,250$9,480$7,957$6,654$5,703
17 years$12,379$10,361$8,626$7,149$5,900$4,998
18 years$11,570$9,574$7,875$6,443$5,246$4,392
19 years$10,846$8,873$7,209$5,821$4,676$3,868
20 years$10,196$8,245$6,616$5,272$4,177$3,413
21 years$9,608$7,680$6,086$4,785$3,738$3,017
22 years$9,075$7,169$5,609$4,351$3,350$2,670
23 years$8,589$6,705$5,179$3,962$3,007$2,367
24 years$8,143$6,282$4,789$3,614$2,703$2,100
25 years$7,734$5,896$4,436$3,300$2,432$1,865
26 years$7,358$5,541$4,114$3,018$2,191$1,658
27 years$7,009$5,215$3,820$2,762$1,975$1,475
28 years$6,686$4,914$3,551$2,531$1,782$1,314
29 years$6,386$4,636$3,305$2,321$1,610$1,170
30 years$6,107$4,378$3,078$2,130$1,454$1,043
31 years$5,846$4,139$2,870$1,956$1,315$930
32 years$5,601$3,916$2,678$1,798$1,189$830
33 years$5,373$3,708$2,500$1,653$1,076$741
34 years$5,158$3,515$2,336$1,521$975$661
35 years$4,955$3,334$2,184$1,400$883$590
36 years$4,765$3,164$2,043$1,290$800$527
37 years$4,585$3,005$1,912$1,188$725$471
38 years$4,415$2,856$1,791$1,095$657$421
39 years$4,254$2,716$1,678$1,010$596$376
40 years$4,101$2,584$1,573$931$541$336
41 years$3,957$2,460$1,475$859$490$301
42 years$3,819$2,342$1,383$793$445$269
43 years$3,689$2,232$1,298$732$404$241
44 years$3,564$2,127$1,218$676$367$215
45 years$3,446$2,029$1,144$624$333$193
46 years$3,333$1,935$1,074$577$302$172
47 years$3,225$1,847$1,009$533$274$154
48 years$3,122$1,763$949$492$249$138
49 years$3,023$1,684$892$455$226$123
50 years$2,929$1,608$838$421$206$110

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $3,000,000, adding $4,945 every year, while hoping to spend $57,975 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: 60/28/12 Blend
52$3,000,000$3,000,000$3,000,000$3,000,000
53$3,311,101$3,152,101$3,105,601$3,499,889
54$3,587,148$3,244,869$3,147,953$3,720,184
55$3,889,409$3,340,239$3,189,782$3,953,392
56$4,220,497$3,438,279$3,231,007$4,206,374
57$4,583,288$3,539,055$3,271,546$4,481,042
58$4,980,951$3,642,636$3,311,311$4,779,501
59$5,416,976$3,749,093$3,350,208$5,104,067
60$5,895,206$3,858,498$3,388,139$5,457,291
61$6,419,876$3,970,923$3,425,000$5,841,980
62$6,995,647$4,086,442$3,460,682$6,261,226
63$7,627,657$4,205,132$3,495,069$6,718,434
64$8,321,564$4,327,069$3,528,039$7,217,352
65$9,083,599$4,452,331$3,559,464$7,762,108
66$9,920,629$4,580,998$3,589,209$8,357,249
67$10,840,216$4,713,150$3,617,131$9,007,782
68$11,850,694$4,848,870$3,643,080$9,719,221
69$12,961,241$4,988,241$3,666,899$10,497,641
70$14,181,969$5,131,347$3,688,422$11,349,733
71$15,524,021$5,278,273$3,707,475$12,282,868
72$16,999,669$5,429,107$3,723,873$13,305,163
73$18,622,438$5,583,935$3,737,426$14,425,563
74$20,407,226$5,742,848$3,747,929$15,653,920
75$22,370,450$5,905,935$3,755,172$17,001,089
76$24,530,196$6,073,285$3,758,930$18,479,028
77$26,906,392$6,244,992$3,758,970$20,100,910
78$29,520,994$6,421,147$3,755,046$21,881,252
79$32,398,196$6,601,843$3,746,900$23,836,044
80$35,564,653$6,787,175$3,734,262$25,982,907
81$39,049,736$6,977,235$3,716,849$28,341,253
82$42,885,809$7,172,119$3,694,363$30,932,471
83$47,108,531$7,371,923$3,666,494$33,780,130
84$51,757,194$7,576,740$3,632,914$36,910,198
85$56,875,094$7,786,666$3,593,283$40,351,287
86$62,509,938$8,001,797$3,547,242$44,134,925
87$68,714,294$8,222,227$3,494,417$48,295,852
88$75,546,087$8,448,051$3,434,415$52,872,348
89$83,069,145$8,679,363$3,366,825$57,906,593
90$91,353,802$8,916,256$3,291,217$63,445,065
91$100,477,559$9,158,822$3,207,143$69,538,982
92$110,525,818$9,407,152$3,114,130$76,244,778
93$121,592,686$9,661,337$3,011,688$83,624,643
94$133,781,861$9,921,463$2,899,300$91,747,106
95$147,207,613$10,187,617$2,776,429$100,687,680
96$161,995,862$10,459,883$2,642,512$110,529,579
97$178,285,364$10,738,342$2,496,960$121,364,500
98$196,229,022$11,023,071$2,339,159$133,293,489
99$215,995,328$11,314,147$2,168,467$146,427,896
100$237,769,952$11,611,641$1,984,210$160,890,425