Can I retire at age 53 with 1,020,000?

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 $1,020,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$84,231$83,480$82,748$82,034$81,336$80,688
2 years$41,698$40,922$40,169$39,439$38,732$38,079
3 years$27,523$26,743$25,992$25,269$24,573$23,935
4 years$20,436$19,659$18,916$18,205$17,526$16,908
5 years$16,186$15,413$14,679$13,983$13,323$12,726
6 years$13,353$12,586$11,863$11,182$10,542$9,968
7 years$11,330$10,569$9,858$9,194$8,573$8,022
8 years$9,814$9,060$8,361$7,712$7,112$6,584
9 years$8,635$7,888$7,201$6,569$5,990$5,484
10 years$7,692$6,953$6,278$5,663$5,103$4,620
11 years$6,922$6,190$5,527$4,928$4,389$3,928
12 years$6,280$5,556$4,905$4,323$3,804$3,364
13 years$5,738$5,021$4,382$3,816$3,317$2,898
14 years$5,273$4,564$3,938$3,388$2,907$2,509
15 years$4,871$4,169$3,555$3,021$2,560$2,182
16 years$4,519$3,825$3,223$2,705$2,262$1,904
17 years$4,209$3,523$2,933$2,431$2,006$1,666
18 years$3,934$3,255$2,677$2,190$1,784$1,462
19 years$3,688$3,017$2,451$1,979$1,590$1,286
20 years$3,467$2,803$2,249$1,793$1,420$1,133
21 years$3,267$2,611$2,069$1,627$1,271$1,000
22 years$3,085$2,438$1,907$1,479$1,139$884
23 years$2,920$2,280$1,761$1,347$1,023$782
24 years$2,769$2,136$1,628$1,229$919$693
25 years$2,630$2,005$1,508$1,122$827$615
26 years$2,502$1,884$1,399$1,026$745$545
27 years$2,383$1,773$1,299$939$672$485
28 years$2,273$1,671$1,208$860$606$431
29 years$2,171$1,576$1,124$789$547$383
30 years$2,076$1,488$1,047$724$494$341
31 years$1,988$1,407$976$665$447$303
32 years$1,905$1,331$910$611$404$270
33 years$1,827$1,261$850$562$366$241
34 years$1,754$1,195$794$517$331$215
35 years$1,685$1,133$743$476$300$191
36 years$1,620$1,076$695$438$272$171
37 years$1,559$1,022$650$404$246$152
38 years$1,501$971$609$372$223$136
39 years$1,446$923$570$343$203$121
40 years$1,395$879$535$317$184$108
41 years$1,345$836$501$292$167$97
42 years$1,299$796$470$270$151$86
43 years$1,254$759$441$249$137$77
44 years$1,212$723$414$230$125$69
45 years$1,172$690$389$212$113$61
46 years$1,133$658$365$196$103$55
47 years$1,097$628$343$181$93$49
48 years$1,061$599$323$167$85$44
49 years$1,028$572$303$155$77$39
50 years$996$547$285$143$70$35

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $1,020,000, adding $4,567 every year, while hoping to spend $31,221 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: 62/26/12 Blend
52$1,020,000$1,020,000$1,020,000$1,020,000
53$1,128,751$1,074,691$1,058,881$1,195,264
54$1,210,665$1,094,132$1,061,134$1,259,847
55$1,299,887$1,113,479$1,062,417$1,326,327
56$1,397,131$1,132,695$1,062,663$1,398,126
57$1,503,180$1,151,739$1,061,805$1,475,760
58$1,618,898$1,170,568$1,059,769$1,559,798
59$1,745,235$1,189,134$1,056,480$1,650,867
60$1,883,236$1,207,389$1,051,859$1,749,658
61$2,034,052$1,225,278$1,045,823$1,856,933
62$2,198,952$1,242,743$1,038,285$1,973,532
63$2,379,331$1,259,723$1,029,153$2,100,379
64$2,576,725$1,276,151$1,018,331$2,238,496
65$2,792,826$1,291,958$1,005,721$2,389,006
66$3,029,498$1,307,067$991,216$2,553,150
67$3,288,792$1,321,399$974,707$2,732,293
68$3,572,968$1,334,867$956,079$2,927,941
69$3,884,514$1,347,379$935,211$3,141,756
70$4,226,172$1,358,838$911,978$3,375,568
71$4,600,961$1,369,140$886,249$3,631,395
72$5,012,205$1,378,174$857,884$3,911,461
73$5,463,567$1,385,822$826,741$4,218,220
74$5,959,082$1,391,958$792,667$4,554,374
75$6,503,194$1,396,450$755,507$4,922,905
76$7,100,798$1,399,154$715,095$5,327,098
77$7,757,287$1,399,921$671,259$5,770,576
78$8,478,603$1,398,590$623,819$6,257,332
79$9,271,291$1,394,991$572,587$6,791,769
80$10,142,560$1,388,943$517,366$7,378,739
81$11,100,356$1,380,255$457,952$8,023,593
82$12,153,429$1,368,725$394,130$8,732,228
83$13,311,422$1,354,135$325,677$9,511,146
84$14,584,958$1,336,259$252,358$10,367,513
85$15,985,741$1,314,853$173,929$11,309,232
86$17,526,667$1,289,662$90,137$12,345,011
87$19,221,945$1,260,413$714$13,484,451
88$21,087,230$1,226,819$0$14,738,135
89$23,139,769$1,188,576$0$16,129,858
90$25,398,570$1,145,360$0$17,661,238
91$27,884,572$1,096,831$0$19,346,398
92$30,620,850$1,042,627$0$21,201,004
93$33,632,828$982,367$0$23,242,323
94$36,948,520$915,647$0$25,489,384
95$40,598,795$842,039$0$27,963,163
96$44,617,666$761,093$0$30,686,775
97$49,042,612$672,331$0$33,685,697
98$53,914,932$575,249$0$36,988,008
99$59,280,133$469,314$0$40,624,655
100$65,188,360$353,963$0$44,629,745