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

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 $1,020,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$84,231$83,480$82,748$82,034$81,336$79,759
2 years$41,698$40,922$40,169$39,439$38,732$37,149
3 years$27,523$26,743$25,992$25,269$24,573$23,034
4 years$20,436$19,659$18,916$18,205$17,526$16,043
5 years$16,186$15,413$14,679$13,983$13,323$11,900
6 years$13,353$12,586$11,863$11,182$10,542$9,181
7 years$11,330$10,569$9,858$9,194$8,573$7,274
8 years$9,814$9,060$8,361$7,712$7,112$5,875
9 years$8,635$7,888$7,201$6,569$5,990$4,813
10 years$7,692$6,953$6,278$5,663$5,103$3,986
11 years$6,922$6,190$5,527$4,928$4,389$3,330
12 years$6,280$5,556$4,905$4,323$3,804$2,801
13 years$5,738$5,021$4,382$3,816$3,317$2,370
14 years$5,273$4,564$3,938$3,388$2,907$2,014
15 years$4,871$4,169$3,555$3,021$2,560$1,718
16 years$4,519$3,825$3,223$2,705$2,262$1,470
17 years$4,209$3,523$2,933$2,431$2,006$1,262
18 years$3,934$3,255$2,677$2,190$1,784$1,085
19 years$3,688$3,017$2,451$1,979$1,590$935
20 years$3,467$2,803$2,249$1,793$1,420$807
21 years$3,267$2,611$2,069$1,627$1,271$697
22 years$3,085$2,438$1,907$1,479$1,139$603
23 years$2,920$2,280$1,761$1,347$1,023$522
24 years$2,769$2,136$1,628$1,229$919$453
25 years$2,630$2,005$1,508$1,122$827$393
26 years$2,502$1,884$1,399$1,026$745$341
27 years$2,383$1,773$1,299$939$672$296
28 years$2,273$1,671$1,208$860$606$257
29 years$2,171$1,576$1,124$789$547$224
30 years$2,076$1,488$1,047$724$494$195
31 years$1,988$1,407$976$665$447$169
32 years$1,905$1,331$910$611$404$147
33 years$1,827$1,261$850$562$366$128
34 years$1,754$1,195$794$517$331$112
35 years$1,685$1,133$743$476$300$97
36 years$1,620$1,076$695$438$272$85
37 years$1,559$1,022$650$404$246$74
38 years$1,501$971$609$372$223$64
39 years$1,446$923$570$343$203$56
40 years$1,395$879$535$317$184$49
41 years$1,345$836$501$292$167$43
42 years$1,299$796$470$270$151$37
43 years$1,254$759$441$249$137$32
44 years$1,212$723$414$230$125$28
45 years$1,172$690$389$212$113$25
46 years$1,133$658$365$196$103$21
47 years$1,097$628$343$181$93$19
48 years$1,061$599$323$167$85$16
49 years$1,028$572$303$155$77$14
50 years$996$547$285$143$70$12

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 $5,608 every year, while hoping to spend $58,639 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: 74/6/20 Blend
52$1,020,000$1,020,000$1,020,000$1,020,000
53$1,129,825$1,075,765$1,059,955$1,207,658
54$1,182,675$1,066,086$1,033,072$1,250,394
55$1,238,951$1,053,967$1,003,323$1,289,542
56$1,298,940$1,039,227$970,550$1,330,932
57$1,362,957$1,021,675$934,588$1,374,777
58$1,431,347$1,001,105$895,265$1,421,308
59$1,504,487$977,302$852,399$1,470,783
60$1,582,793$950,037$805,803$1,523,488
61$1,666,719$919,070$755,278$1,579,736
62$1,756,763$884,143$700,619$1,639,877
63$1,853,473$844,986$641,610$1,704,295
64$1,957,449$801,313$578,025$1,773,415
65$2,069,351$752,819$509,631$1,847,707
66$2,189,902$699,185$436,182$1,927,692
67$2,319,898$640,071$357,420$2,013,943
68$2,460,213$575,120$273,078$2,107,096
69$2,611,806$503,951$182,878$2,207,851
70$2,775,731$426,167$86,525$2,316,984
71$2,953,149$341,342$0$2,435,350
72$3,145,334$249,032$0$2,567,375
73$3,353,687$148,763$0$2,730,554
74$3,579,750$40,039$0$2,907,629
75$3,825,216$0$0$3,099,949
76$4,091,950$0$0$3,314,127
77$4,382,003$0$0$3,549,942
78$4,697,630$0$0$3,806,589
79$5,041,315$0$0$4,086,094
80$5,415,787$0$0$4,390,681
81$5,824,055$0$0$4,722,803
82$6,269,424$0$0$5,085,155
83$6,755,538$0$0$5,480,707
84$7,286,405$0$0$5,912,727
85$7,866,437$0$0$6,384,811
86$8,500,491$0$0$6,900,922
87$9,193,917$0$0$7,465,419
88$9,952,604$0$0$8,083,103
89$10,783,035$0$0$8,759,262
90$11,692,351$0$0$9,499,717
91$12,688,414$0$0$10,310,880
92$13,779,885$0$0$11,199,810
93$14,976,299$0$0$12,174,283
94$16,288,160$0$0$13,242,863
95$17,727,035$0$0$14,414,983
96$19,305,666$0$0$15,701,032
97$21,038,087$0$0$17,112,453
98$22,939,757$0$0$18,661,851
99$25,027,706$0$0$20,363,111
100$27,320,689$0$0$22,231,530