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%15.6%
1 years$82,579$81,843$81,126$80,425$79,741$77,909
2 years$40,881$40,119$39,381$38,666$37,972$36,136
3 years$26,983$26,218$25,482$24,774$24,091$22,308
4 years$20,036$19,273$18,545$17,848$17,182$15,467
5 years$15,868$15,111$14,391$13,709$13,061$11,419
6 years$13,091$12,339$11,630$10,963$10,335$8,766
7 years$11,108$10,362$9,665$9,013$8,405$6,911
8 years$9,621$8,882$8,197$7,561$6,973$5,552
9 years$8,466$7,734$7,060$6,440$5,872$4,524
10 years$7,542$6,817$6,155$5,552$5,003$3,726
11 years$6,786$6,069$5,419$4,832$4,303$3,095
12 years$6,157$5,447$4,809$4,238$3,729$2,589
13 years$5,625$4,922$4,296$3,742$3,252$2,177
14 years$5,170$4,474$3,860$3,321$2,850$1,839
15 years$4,775$4,087$3,485$2,962$2,510$1,559
16 years$4,430$3,750$3,160$2,652$2,218$1,325
17 years$4,126$3,454$2,875$2,383$1,967$1,130
18 years$3,857$3,191$2,625$2,148$1,749$965
19 years$3,615$2,958$2,403$1,940$1,559$826
20 years$3,399$2,748$2,205$1,757$1,392$708
21 years$3,203$2,560$2,029$1,595$1,246$608
22 years$3,025$2,390$1,870$1,450$1,117$522
23 years$2,863$2,235$1,726$1,321$1,002$449
24 years$2,714$2,094$1,596$1,205$901$387
25 years$2,578$1,965$1,479$1,100$811$333
26 years$2,453$1,847$1,371$1,006$730$287
27 years$2,336$1,738$1,273$921$658$248
28 years$2,229$1,638$1,184$844$594$214
29 years$2,129$1,545$1,102$774$537$184
30 years$2,036$1,459$1,026$710$485$159
31 years$1,949$1,380$957$652$438$137
32 years$1,867$1,305$893$599$396$119
33 years$1,791$1,236$833$551$359$103
34 years$1,719$1,172$779$507$325$89
35 years$1,652$1,111$728$467$294$77
36 years$1,588$1,055$681$430$267$66
37 years$1,528$1,002$637$396$242$57
38 years$1,472$952$597$365$219$49
39 years$1,418$905$559$337$199$43
40 years$1,367$861$524$310$180$37
41 years$1,319$820$492$286$163$32
42 years$1,273$781$461$264$148$28
43 years$1,230$744$433$244$135$24
44 years$1,188$709$406$225$122$21
45 years$1,149$676$381$208$111$18
46 years$1,111$645$358$192$101$15
47 years$1,075$616$336$178$91$13
48 years$1,041$588$316$164$83$12
49 years$1,008$561$297$152$75$10
50 years$976$536$279$140$69$9

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 $2,047 every year, while hoping to spend $26,508 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: 37/36/27 Blend
52$1,000,000$1,000,000$1,000,000$1,000,000
53$1,104,111$1,051,111$1,035,611$1,135,978
54$1,188,527$1,074,412$1,042,100$1,182,961
55$1,280,664$1,097,965$1,047,918$1,231,104
56$1,381,282$1,121,756$1,053,014$1,282,596
57$1,491,218$1,145,768$1,057,335$1,337,756
58$1,611,393$1,169,981$1,060,827$1,396,936
59$1,742,820$1,194,375$1,063,429$1,460,527
60$1,886,615$1,218,926$1,065,081$1,528,958
61$2,044,007$1,243,611$1,065,718$1,602,701
62$2,216,348$1,268,401$1,065,273$1,682,281
63$2,405,131$1,293,267$1,063,674$1,768,273
64$2,611,994$1,318,177$1,060,848$1,861,313
65$2,838,746$1,343,097$1,056,715$1,962,104
66$3,087,377$1,367,988$1,051,194$2,071,421
67$3,360,080$1,392,809$1,044,199$2,190,117
68$3,659,268$1,417,517$1,035,640$2,319,136
69$3,987,602$1,442,064$1,025,423$2,459,519
70$4,348,012$1,466,399$1,013,448$2,612,412
71$4,743,724$1,490,468$999,614$2,779,082
72$5,178,294$1,514,211$983,811$2,960,927
73$5,655,637$1,537,564$965,925$3,159,487
74$6,180,067$1,560,460$945,839$3,376,463
75$6,756,338$1,582,826$923,428$3,613,731
76$7,389,684$1,604,584$898,563$3,873,359
77$8,085,873$1,625,650$871,106$4,157,630
78$8,851,261$1,645,936$840,917$4,469,063
79$9,692,848$1,665,345$807,846$4,810,434
80$10,618,347$1,683,776$771,738$5,184,806
81$11,636,258$1,701,121$732,431$5,595,558
82$12,755,944$1,717,263$689,754$6,046,418
83$13,987,720$1,732,078$643,531$6,541,495
84$15,342,953$1,745,436$593,575$7,085,323
85$16,834,167$1,757,195$539,693$7,682,901
86$18,475,161$1,767,207$481,682$8,339,743
87$20,281,140$1,775,313$419,331$9,061,930
88$22,268,857$1,781,343$352,418$9,856,167
89$24,456,770$1,785,119$280,714$10,729,848
90$26,865,220$1,786,450$203,978$11,691,128
91$29,516,619$1,785,132$121,957$12,748,999
92$32,435,661$1,780,950$34,390$13,913,375
93$35,649,559$1,773,677$0$15,195,190
94$39,188,296$1,763,069$0$16,623,512
95$43,084,912$1,748,869$0$18,206,296
96$47,375,815$1,730,806$0$19,948,367
97$52,101,121$1,708,588$0$21,865,972
98$57,305,037$1,681,911$0$23,977,019
99$63,036,275$1,650,449$0$26,301,246
100$69,348,513$1,613,858$0$28,860,410