Can I retire at age 53 with 1,000,000?

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 $1,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$82,579$81,843$81,126$80,425$79,741$79,305
2 years$40,881$40,119$39,381$38,666$37,972$37,532
3 years$26,983$26,218$25,482$24,774$24,091$23,661
4 years$20,036$19,273$18,545$17,848$17,182$16,765
5 years$15,868$15,111$14,391$13,709$13,061$12,658
6 years$13,091$12,339$11,630$10,963$10,335$9,947
7 years$11,108$10,362$9,665$9,013$8,405$8,032
8 years$9,621$8,882$8,197$7,561$6,973$6,614
9 years$8,466$7,734$7,060$6,440$5,872$5,529
10 years$7,542$6,817$6,155$5,552$5,003$4,675
11 years$6,786$6,069$5,419$4,832$4,303$3,989
12 years$6,157$5,447$4,809$4,238$3,729$3,429
13 years$5,625$4,922$4,296$3,742$3,252$2,965
14 years$5,170$4,474$3,860$3,321$2,850$2,578
15 years$4,775$4,087$3,485$2,962$2,510$2,250
16 years$4,430$3,750$3,160$2,652$2,218$1,972
17 years$4,126$3,454$2,875$2,383$1,967$1,733
18 years$3,857$3,191$2,625$2,148$1,749$1,527
19 years$3,615$2,958$2,403$1,940$1,559$1,348
20 years$3,399$2,748$2,205$1,757$1,392$1,193
21 years$3,203$2,560$2,029$1,595$1,246$1,058
22 years$3,025$2,390$1,870$1,450$1,117$939
23 years$2,863$2,235$1,726$1,321$1,002$835
24 years$2,714$2,094$1,596$1,205$901$743
25 years$2,578$1,965$1,479$1,100$811$662
26 years$2,453$1,847$1,371$1,006$730$591
27 years$2,336$1,738$1,273$921$658$527
28 years$2,229$1,638$1,184$844$594$471
29 years$2,129$1,545$1,102$774$537$421
30 years$2,036$1,459$1,026$710$485$376
31 years$1,949$1,380$957$652$438$337
32 years$1,867$1,305$893$599$396$301
33 years$1,791$1,236$833$551$359$270
34 years$1,719$1,172$779$507$325$242
35 years$1,652$1,111$728$467$294$216
36 years$1,588$1,055$681$430$267$194
37 years$1,528$1,002$637$396$242$174
38 years$1,472$952$597$365$219$156
39 years$1,418$905$559$337$199$140
40 years$1,367$861$524$310$180$125
41 years$1,319$820$492$286$163$113
42 years$1,273$781$461$264$148$101
43 years$1,230$744$433$244$135$91
44 years$1,188$709$406$225$122$81
45 years$1,149$676$381$208$111$73
46 years$1,111$645$358$192$101$66
47 years$1,075$616$336$178$91$59
48 years$1,041$588$316$164$83$53
49 years$1,008$561$297$152$75$47
50 years$976$536$279$140$69$43

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $1,000,000, adding $3,142 every year, while hoping to spend $57,654 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: 62/31/7 Blend
52$1,000,000$1,000,000$1,000,000$1,000,000
53$1,105,241$1,052,241$1,036,741$1,172,064
54$1,156,632$1,042,457$1,010,128$1,207,287
55$1,211,333$1,030,262$980,692$1,238,721
56$1,269,620$1,015,476$948,276$1,271,553
57$1,331,796$997,909$912,719$1,305,915
58$1,398,194$977,361$873,849$1,341,958
59$1,469,177$953,619$831,490$1,379,848
60$1,545,143$926,457$785,455$1,419,770
61$1,626,530$895,636$735,551$1,461,932
62$1,713,819$860,904$681,574$1,506,566
63$1,807,534$821,994$623,312$1,553,927
64$1,908,253$778,623$560,544$1,604,305
65$2,016,611$730,491$493,039$1,658,016
66$2,133,304$677,284$420,554$1,715,418
67$2,259,095$618,665$342,837$1,776,906
68$2,394,826$554,283$259,625$1,842,920
69$2,541,418$483,762$170,642$1,913,948
70$2,699,885$406,710$75,601$1,990,536
71$2,871,343$322,708$0$2,073,286
72$3,057,015$231,315$0$2,164,800
73$3,258,249$132,068$0$2,270,045
74$3,476,525$24,474$0$2,384,221
75$3,713,473$0$0$2,508,272
76$3,970,882$0$0$2,674,622
77$4,250,725$0$0$2,864,611
78$4,555,168$0$0$3,071,370
79$4,886,597$0$0$3,296,527
80$5,247,636$0$0$3,541,874
81$5,641,173$0$0$3,809,383
82$6,070,387$0$0$4,101,225
83$6,538,775$0$0$4,419,788
84$7,050,189$0$0$4,767,702
85$7,608,868$0$0$5,147,862
86$8,219,478$0$0$5,563,454
87$8,887,157$0$0$6,017,988
88$9,617,562$0$0$6,515,327
89$10,416,922$0$0$7,059,724
90$11,292,095$0$0$7,655,865
91$12,250,635$0$0$8,308,908
92$13,300,857$0$0$9,024,534
93$14,451,924$0$0$9,809,000
94$15,713,922$0$0$10,669,195
95$17,097,962$0$0$11,612,711
96$18,616,283$0$0$12,647,906
97$20,282,365$0$0$13,783,988
98$22,111,054$0$0$15,031,098
99$24,118,705$0$0$16,400,411
100$26,323,336$0$0$17,904,231