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

Use the below retirement simulation to view the chances of a successful retirement.
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%13.9%
1 years$82,579$81,843$81,126$80,425$79,741$78,453
2 years$40,881$40,119$39,381$38,666$37,972$36,677
3 years$26,983$26,218$25,482$24,774$24,091$22,830
4 years$20,036$19,273$18,545$17,848$17,182$15,965
5 years$15,868$15,111$14,391$13,709$13,061$11,892
6 years$13,091$12,339$11,630$10,963$10,335$9,215
7 years$11,108$10,362$9,665$9,013$8,405$7,334
8 years$9,621$8,882$8,197$7,561$6,973$5,950
9 years$8,466$7,734$7,060$6,440$5,872$4,898
10 years$7,542$6,817$6,155$5,552$5,003$4,077
11 years$6,786$6,069$5,419$4,832$4,303$3,423
12 years$6,157$5,447$4,809$4,238$3,729$2,895
13 years$5,625$4,922$4,296$3,742$3,252$2,462
14 years$5,170$4,474$3,860$3,321$2,850$2,103
15 years$4,775$4,087$3,485$2,962$2,510$1,804
16 years$4,430$3,750$3,160$2,652$2,218$1,553
17 years$4,126$3,454$2,875$2,383$1,967$1,340
18 years$3,857$3,191$2,625$2,148$1,749$1,159
19 years$3,615$2,958$2,403$1,940$1,559$1,004
20 years$3,399$2,748$2,205$1,757$1,392$872
21 years$3,203$2,560$2,029$1,595$1,246$758
22 years$3,025$2,390$1,870$1,450$1,117$660
23 years$2,863$2,235$1,726$1,321$1,002$575
24 years$2,714$2,094$1,596$1,205$901$502
25 years$2,578$1,965$1,479$1,100$811$438
26 years$2,453$1,847$1,371$1,006$730$383
27 years$2,336$1,738$1,273$921$658$335
28 years$2,229$1,638$1,184$844$594$293
29 years$2,129$1,545$1,102$774$537$256
30 years$2,036$1,459$1,026$710$485$224
31 years$1,949$1,380$957$652$438$196
32 years$1,867$1,305$893$599$396$172
33 years$1,791$1,236$833$551$359$151
34 years$1,719$1,172$779$507$325$132
35 years$1,652$1,111$728$467$294$116
36 years$1,588$1,055$681$430$267$102
37 years$1,528$1,002$637$396$242$89
38 years$1,472$952$597$365$219$78
39 years$1,418$905$559$337$199$69
40 years$1,367$861$524$310$180$60
41 years$1,319$820$492$286$163$53
42 years$1,273$781$461$264$148$46
43 years$1,230$744$433$244$135$41
44 years$1,188$709$406$225$122$36
45 years$1,149$676$381$208$111$31
46 years$1,111$645$358$192$101$27
47 years$1,075$616$336$178$91$24
48 years$1,041$588$316$164$83$21
49 years$1,008$561$297$152$75$19
50 years$976$536$279$140$69$16

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 $2,892 every year, while hoping to spend $36,739 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: 25/46/29 Blend
52$1,000,000$1,000,000$1,000,000$1,000,000
53$1,104,983$1,051,983$1,036,483$1,122,524
54$1,178,601$1,064,440$1,032,115$1,149,938
55$1,258,497$1,076,276$1,026,370$1,176,010
56$1,345,273$1,087,423$1,019,162$1,203,208
57$1,439,589$1,097,805$1,010,402$1,231,652
58$1,542,174$1,107,344$999,997$1,261,477
59$1,653,829$1,115,957$987,850$1,292,834
60$1,775,434$1,123,554$973,859$1,325,891
61$1,907,961$1,130,040$957,915$1,360,839
62$2,052,475$1,135,314$939,907$1,397,889
63$2,210,151$1,139,269$919,718$1,437,277
64$2,382,283$1,141,789$897,225$1,479,268
65$2,570,293$1,142,754$872,299$1,524,157
66$2,775,748$1,142,034$844,806$1,572,272
67$3,000,373$1,139,492$814,606$1,623,982
68$3,246,066$1,134,983$781,551$1,679,694
69$3,514,920$1,128,352$745,488$1,739,865
70$3,809,236$1,119,436$706,256$1,805,001
71$4,131,550$1,108,060$663,687$1,875,668
72$4,484,654$1,094,041$617,607$1,952,492
73$4,871,623$1,077,182$567,830$2,036,173
74$5,295,842$1,057,278$514,167$2,127,485
75$5,761,043$1,034,110$456,416$2,227,291
76$6,271,332$1,007,444$394,368$2,336,548
77$6,831,234$977,035$327,806$2,456,319
78$7,445,734$942,623$256,501$2,587,783
79$8,120,320$903,934$180,216$2,732,248
80$8,861,041$860,675$98,701$2,891,165
81$9,674,557$812,538$11,698$3,066,144
82$10,568,208$759,197$0$3,258,968
83$11,550,076$700,309$0$3,496,723
84$12,629,068$635,509$0$3,761,984
85$13,814,995$564,411$0$4,053,644
86$15,118,666$486,608$0$4,374,484
87$16,551,989$401,672$0$4,727,575
88$18,128,085$309,147$0$5,116,314
89$19,861,409$208,553$0$5,544,449
90$21,767,885$99,385$0$6,016,123
91$23,865,061$0$0$6,535,911
92$26,172,270$0$0$7,118,429
93$28,710,813$0$0$7,814,899
94$31,504,160$0$0$8,581,476
95$34,578,171$0$0$9,425,281
96$37,961,340$0$0$10,354,163
97$41,685,062$0$0$11,376,766
98$45,783,931$0$0$12,502,619
99$50,296,065$0$0$13,742,220
100$55,263,465$0$0$15,107,137