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

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 $1,030,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$85,056$84,299$83,560$82,838$82,134$81,040
2 years$42,107$41,323$40,563$39,826$39,111$38,011
3 years$27,793$27,005$26,247$25,517$24,814$23,742
4 years$20,637$19,852$19,101$18,384$17,697$16,661
5 years$16,344$15,564$14,823$14,120$13,453$12,456
6 years$13,484$12,709$11,979$11,292$10,645$9,688
7 years$11,441$10,673$9,955$9,284$8,657$7,741
8 years$9,910$9,149$8,443$7,788$7,182$6,306
9 years$8,720$7,966$7,272$6,634$6,048$5,213
10 years$7,768$7,021$6,339$5,718$5,154$4,357
11 years$6,990$6,251$5,581$4,977$4,432$3,675
12 years$6,342$5,610$4,953$4,365$3,841$3,121
13 years$5,794$5,070$4,425$3,854$3,349$2,666
14 years$5,325$4,609$3,976$3,421$2,936$2,289
15 years$4,918$4,210$3,590$3,051$2,585$1,973
16 years$4,563$3,863$3,255$2,732$2,285$1,706
17 years$4,250$3,557$2,962$2,454$2,026$1,480
18 years$3,972$3,287$2,704$2,212$1,801$1,286
19 years$3,724$3,046$2,475$1,999$1,605$1,121
20 years$3,501$2,831$2,272$1,810$1,434$978
21 years$3,299$2,637$2,089$1,643$1,283$855
22 years$3,116$2,461$1,926$1,494$1,150$748
23 years$2,949$2,302$1,778$1,360$1,033$656
24 years$2,796$2,157$1,644$1,241$928$575
25 years$2,655$2,024$1,523$1,133$835$505
26 years$2,526$1,902$1,413$1,036$752$444
27 years$2,407$1,790$1,312$948$678$390
28 years$2,296$1,687$1,219$869$612$343
29 years$2,193$1,592$1,135$797$553$302
30 years$2,097$1,503$1,057$731$499$266
31 years$2,007$1,421$985$672$451$234
32 years$1,923$1,344$919$617$408$206
33 years$1,845$1,273$858$568$370$182
34 years$1,771$1,207$802$522$335$160
35 years$1,701$1,145$750$481$303$141
36 years$1,636$1,086$701$443$275$125
37 years$1,574$1,032$657$408$249$110
38 years$1,516$981$615$376$226$97
39 years$1,461$932$576$347$205$86
40 years$1,408$887$540$320$186$76
41 years$1,359$844$506$295$168$67
42 years$1,311$804$475$272$153$59
43 years$1,266$766$446$251$139$52
44 years$1,224$730$418$232$126$46
45 years$1,183$697$393$214$114$41
46 years$1,144$664$369$198$104$36
47 years$1,107$634$347$183$94$32
48 years$1,072$605$326$169$86$28
49 years$1,038$578$306$156$78$25
50 years$1,006$552$288$144$71$22

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 $2,742 every year, while hoping to spend $51,306 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: 59/16/25 Blend
52$1,030,000$1,030,000$1,030,000$1,030,000
53$1,137,888$1,083,298$1,067,333$1,197,209
54$1,199,364$1,081,791$1,048,500$1,236,447
55$1,265,390$1,078,490$1,027,316$1,273,480
56$1,336,377$1,073,253$1,003,648$1,312,776
57$1,412,776$1,065,931$977,359$1,354,566
58$1,495,080$1,056,362$948,301$1,399,109
59$1,583,832$1,044,378$916,323$1,446,689
60$1,679,629$1,029,798$881,266$1,497,623
61$1,783,126$1,012,433$842,963$1,552,262
62$1,895,043$992,081$801,240$1,610,995
63$2,016,172$968,527$755,917$1,674,255
64$2,147,382$941,546$706,801$1,742,521
65$2,289,632$910,898$653,695$1,816,322
66$2,443,972$876,330$596,392$1,896,248
67$2,611,560$837,573$534,674$1,982,950
68$2,793,669$794,344$468,315$2,077,149
69$2,991,698$746,342$397,078$2,179,644
70$3,207,188$693,249$320,717$2,291,320
71$3,441,833$634,731$238,974$2,413,155
72$3,697,499$570,432$151,578$2,546,234
73$3,976,238$499,977$58,250$2,691,755
74$4,280,309$422,970$0$2,851,045
75$4,612,197$338,992$0$3,036,601
76$4,974,639$247,601$0$3,256,314
77$5,370,649$148,330$0$3,496,511
78$5,803,543$40,685$0$3,759,264
79$6,276,972$0$0$4,046,860
80$6,794,956$0$0$4,375,174
81$7,361,924$0$0$4,742,457
82$7,982,750$0$0$5,144,716
83$8,662,802$0$0$5,585,439
84$9,407,993$0$0$6,068,469
85$10,224,833$0$0$6,598,036
86$11,120,494$0$0$7,178,804
87$12,102,872$0$0$7,815,904
88$13,180,668$0$0$8,514,991
89$14,363,464$0$0$9,282,294
90$15,661,812$0$0$10,124,674
91$17,087,341$0$0$11,049,687
92$18,652,857$0$0$12,065,659
93$20,372,467$0$0$13,181,760
94$22,261,713$0$0$14,408,094
95$24,337,717$0$0$15,755,790
96$26,619,341$0$0$17,237,111
97$29,127,364$0$0$18,865,565
98$31,884,681$0$0$20,656,034
99$34,916,513$0$0$22,624,916
100$38,250,649$0$0$24,790,276