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%17.7%
1 years$85,056$84,299$83,560$82,838$82,134$79,568
2 years$42,107$41,323$40,563$39,826$39,111$36,549
3 years$27,793$27,005$26,247$25,517$24,814$22,336
4 years$20,637$19,852$19,101$18,384$17,697$15,323
5 years$16,344$15,564$14,823$14,120$13,453$11,188
6 years$13,484$12,709$11,979$11,292$10,645$8,491
7 years$11,441$10,673$9,955$9,284$8,657$6,614
8 years$9,910$9,149$8,443$7,788$7,182$5,249
9 years$8,720$7,966$7,272$6,634$6,048$4,223
10 years$7,768$7,021$6,339$5,718$5,154$3,433
11 years$6,990$6,251$5,581$4,977$4,432$2,814
12 years$6,342$5,610$4,953$4,365$3,841$2,321
13 years$5,794$5,070$4,425$3,854$3,349$1,924
14 years$5,325$4,609$3,976$3,421$2,936$1,602
15 years$4,918$4,210$3,590$3,051$2,585$1,338
16 years$4,563$3,863$3,255$2,732$2,285$1,121
17 years$4,250$3,557$2,962$2,454$2,026$941
18 years$3,972$3,287$2,704$2,212$1,801$792
19 years$3,724$3,046$2,475$1,999$1,605$667
20 years$3,501$2,831$2,272$1,810$1,434$563
21 years$3,299$2,637$2,089$1,643$1,283$475
22 years$3,116$2,461$1,926$1,494$1,150$402
23 years$2,949$2,302$1,778$1,360$1,033$340
24 years$2,796$2,157$1,644$1,241$928$288
25 years$2,655$2,024$1,523$1,133$835$244
26 years$2,526$1,902$1,413$1,036$752$206
27 years$2,407$1,790$1,312$948$678$175
28 years$2,296$1,687$1,219$869$612$148
29 years$2,193$1,592$1,135$797$553$126
30 years$2,097$1,503$1,057$731$499$107
31 years$2,007$1,421$985$672$451$91
32 years$1,923$1,344$919$617$408$77
33 years$1,845$1,273$858$568$370$65
34 years$1,771$1,207$802$522$335$55
35 years$1,701$1,145$750$481$303$47
36 years$1,636$1,086$701$443$275$40
37 years$1,574$1,032$657$408$249$34
38 years$1,516$981$615$376$226$29
39 years$1,461$932$576$347$205$25
40 years$1,408$887$540$320$186$21
41 years$1,359$844$506$295$168$18
42 years$1,311$804$475$272$153$15
43 years$1,266$766$446$251$139$13
44 years$1,224$730$418$232$126$11
45 years$1,183$697$393$214$114$9
46 years$1,144$664$369$198$104$8
47 years$1,107$634$347$183$94$7
48 years$1,072$605$326$169$86$6
49 years$1,038$578$306$156$78$5
50 years$1,006$552$288$144$71$4

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 $6,468 every year, while hoping to spend $52,704 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: 65/15/20 Blend
52$1,030,000$1,030,000$1,030,000$1,030,000
53$1,141,732$1,087,142$1,071,177$1,209,760
54$1,202,112$1,084,335$1,050,985$1,253,437
55$1,266,884$1,079,624$1,028,349$1,294,555
56$1,336,441$1,072,861$1,003,134$1,338,249
57$1,411,214$1,063,886$975,194$1,384,773
58$1,491,674$1,052,534$944,380$1,434,407
59$1,578,342$1,038,625$910,534$1,487,463
60$1,671,787$1,021,972$873,491$1,544,286
61$1,772,636$1,002,375$833,080$1,605,259
62$1,881,577$979,623$789,120$1,670,803
63$1,999,366$953,493$741,424$1,741,387
64$2,126,834$923,747$689,794$1,817,527
65$2,264,895$890,135$634,027$1,899,798
66$2,414,554$852,391$573,906$1,988,833
67$2,576,916$810,235$509,209$2,085,332
68$2,753,194$763,370$439,700$2,190,071
69$2,944,727$711,482$365,137$2,303,908
70$3,152,982$654,238$285,262$2,427,790
71$3,379,579$591,288$199,811$2,562,766
72$3,626,295$522,260$108,504$2,709,995
73$3,895,090$446,764$11,052$2,870,758
74$4,188,117$364,383$0$3,046,470
75$4,507,749$274,682$0$3,258,532
76$4,856,595$177,197$0$3,492,643
77$5,237,529$71,440$0$3,748,423
78$5,653,713$0$0$4,028,057
79$6,108,629$0$0$4,341,067
80$6,606,111$0$0$4,696,325
81$7,150,381$0$0$5,085,063
82$7,746,084$0$0$5,510,608
83$8,398,340$0$0$5,976,625
84$9,112,784$0$0$6,487,149
85$9,895,623$0$0$7,046,625
86$10,753,691$0$0$7,659,949
87$11,694,516$0$0$8,332,510
88$12,726,390$0$0$9,070,247
89$13,858,445$0$0$9,879,699
90$15,100,739$0$0$10,768,071
91$16,464,352$0$0$11,743,296
92$17,961,489$0$0$12,814,116
93$19,605,593$0$0$13,990,160
94$21,411,475$0$0$15,282,034
95$23,395,450$0$0$16,701,422
96$25,575,491$0$0$18,261,198
97$27,971,397$0$0$19,975,542
98$30,604,983$0$0$21,860,078
99$33,500,280$0$0$23,932,018
100$36,683,765$0$0$26,210,325