Can I retire at age 53 with 1,030,000?

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 $1,030,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%20%
1 years$85,056$84,299$83,560$82,838$82,134$78,844
2 years$42,107$41,323$40,563$39,826$39,111$35,838
3 years$27,793$27,005$26,247$25,517$24,814$21,660
4 years$20,637$19,852$19,101$18,384$17,697$14,688
5 years$16,344$15,564$14,823$14,120$13,453$10,595
6 years$13,484$12,709$11,979$11,292$10,645$7,940
7 years$11,441$10,673$9,955$9,284$8,657$6,104
8 years$9,910$9,149$8,443$7,788$7,182$4,779
9 years$8,720$7,966$7,272$6,634$6,048$3,791
10 years$7,768$7,021$6,339$5,718$5,154$3,037
11 years$6,990$6,251$5,581$4,977$4,432$2,452
12 years$6,342$5,610$4,953$4,365$3,841$1,992
13 years$5,794$5,070$4,425$3,854$3,349$1,626
14 years$5,325$4,609$3,976$3,421$2,936$1,332
15 years$4,918$4,210$3,590$3,051$2,585$1,095
16 years$4,563$3,863$3,255$2,732$2,285$902
17 years$4,250$3,557$2,962$2,454$2,026$744
18 years$3,972$3,287$2,704$2,212$1,801$615
19 years$3,724$3,046$2,475$1,999$1,605$510
20 years$3,501$2,831$2,272$1,810$1,434$422
21 years$3,299$2,637$2,089$1,643$1,283$350
22 years$3,116$2,461$1,926$1,494$1,150$291
23 years$2,949$2,302$1,778$1,360$1,033$242
24 years$2,796$2,157$1,644$1,241$928$201
25 years$2,655$2,024$1,523$1,133$835$167
26 years$2,526$1,902$1,413$1,036$752$139
27 years$2,407$1,790$1,312$948$678$116
28 years$2,296$1,687$1,219$869$612$96
29 years$2,193$1,592$1,135$797$553$80
30 years$2,097$1,503$1,057$731$499$67
31 years$2,007$1,421$985$672$451$56
32 years$1,923$1,344$919$617$408$46
33 years$1,845$1,273$858$568$370$39
34 years$1,771$1,207$802$522$335$32
35 years$1,701$1,145$750$481$303$27
36 years$1,636$1,086$701$443$275$22
37 years$1,574$1,032$657$408$249$19
38 years$1,516$981$615$376$226$15
39 years$1,461$932$576$347$205$13
40 years$1,408$887$540$320$186$11
41 years$1,359$844$506$295$168$9
42 years$1,311$804$475$272$153$7
43 years$1,266$766$446$251$139$6
44 years$1,224$730$418$232$126$5
45 years$1,183$697$393$214$114$4
46 years$1,144$664$369$198$104$4
47 years$1,107$634$347$183$94$3
48 years$1,072$605$326$169$86$2
49 years$1,038$578$306$156$78$2
50 years$1,006$552$288$144$71$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $1,030,000, adding $2,557 every year, while hoping to spend $29,624 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: 55/23/22 Blend
52$1,030,000$1,030,000$1,030,000$1,030,000
53$1,137,698$1,083,108$1,067,143$1,193,319
54$1,222,223$1,104,660$1,071,372$1,253,264
55$1,314,377$1,126,276$1,074,751$1,315,177
56$1,414,907$1,147,927$1,077,218$1,381,969
57$1,524,634$1,169,582$1,078,712$1,454,118
58$1,644,464$1,191,209$1,079,166$1,532,149
59$1,775,393$1,212,771$1,078,511$1,616,643
60$1,918,516$1,234,231$1,076,675$1,708,237
61$2,075,043$1,255,546$1,073,581$1,807,636
62$2,246,302$1,276,672$1,069,150$1,915,618
63$2,433,756$1,297,560$1,063,299$2,033,038
64$2,639,018$1,318,160$1,055,938$2,160,843
65$2,863,864$1,338,415$1,046,978$2,300,072
66$3,110,246$1,358,266$1,036,320$2,451,875
67$3,380,320$1,377,650$1,023,865$2,617,519
68$3,676,455$1,396,497$1,009,507$2,798,400
69$4,001,263$1,414,735$993,135$2,996,059
70$4,357,620$1,432,285$974,634$3,212,193
71$4,748,695$1,449,065$953,882$3,448,675
72$5,177,978$1,464,985$930,752$3,707,571
73$5,649,312$1,479,950$905,113$3,991,158
74$6,166,933$1,493,858$876,825$4,301,945
75$6,735,504$1,506,601$845,743$4,642,702
76$7,360,166$1,518,065$811,715$5,016,480
77$8,046,578$1,528,126$774,584$5,426,647
78$8,800,979$1,536,653$734,182$5,876,912
79$9,630,238$1,543,509$690,336$6,371,367
80$10,541,926$1,548,545$642,866$6,914,524
81$11,544,383$1,551,603$591,582$7,511,356
82$12,646,796$1,552,518$536,286$8,167,348
83$13,859,289$1,551,111$476,772$8,888,546
84$15,193,016$1,547,195$412,823$9,681,615
85$16,660,265$1,540,569$344,214$10,553,905
86$18,274,577$1,531,022$270,711$11,513,518
87$20,050,870$1,518,329$192,066$12,569,385
88$22,005,582$1,502,250$108,024$13,731,355
89$24,156,825$1,482,534$18,316$15,010,282
90$26,524,555$1,458,912$0$16,418,135
91$29,130,761$1,431,100$0$17,986,280
92$31,999,672$1,398,797$0$19,716,856
93$35,157,985$1,361,685$0$21,621,663
94$38,635,119$1,319,426$0$23,718,450
95$42,463,487$1,271,664$0$26,026,776
96$46,678,807$1,218,021$0$28,568,199
97$51,320,438$1,158,096$0$31,366,476
98$56,431,747$1,091,467$0$34,447,790
99$62,060,524$1,017,687$0$37,840,997
100$68,259,427$936,284$0$41,577,900