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%16.8%
1 years$85,056$84,299$83,560$82,838$82,134$79,857
2 years$42,107$41,323$40,563$39,826$39,111$36,834
3 years$27,793$27,005$26,247$25,517$24,814$22,608
4 years$20,637$19,852$19,101$18,384$17,697$15,580
5 years$16,344$15,564$14,823$14,120$13,453$11,430
6 years$13,484$12,709$11,979$11,292$10,645$8,717
7 years$11,441$10,673$9,955$9,284$8,657$6,826
8 years$9,910$9,149$8,443$7,788$7,182$5,445
9 years$8,720$7,966$7,272$6,634$6,048$4,405
10 years$7,768$7,021$6,339$5,718$5,154$3,601
11 years$6,990$6,251$5,581$4,977$4,432$2,969
12 years$6,342$5,610$4,953$4,365$3,841$2,463
13 years$5,794$5,070$4,425$3,854$3,349$2,055
14 years$5,325$4,609$3,976$3,421$2,936$1,721
15 years$4,918$4,210$3,590$3,051$2,585$1,447
16 years$4,563$3,863$3,255$2,732$2,285$1,220
17 years$4,250$3,557$2,962$2,454$2,026$1,031
18 years$3,972$3,287$2,704$2,212$1,801$873
19 years$3,724$3,046$2,475$1,999$1,605$741
20 years$3,501$2,831$2,272$1,810$1,434$629
21 years$3,299$2,637$2,089$1,643$1,283$535
22 years$3,116$2,461$1,926$1,494$1,150$455
23 years$2,949$2,302$1,778$1,360$1,033$388
24 years$2,796$2,157$1,644$1,241$928$331
25 years$2,655$2,024$1,523$1,133$835$282
26 years$2,526$1,902$1,413$1,036$752$241
27 years$2,407$1,790$1,312$948$678$206
28 years$2,296$1,687$1,219$869$612$176
29 years$2,193$1,592$1,135$797$553$150
30 years$2,097$1,503$1,057$731$499$128
31 years$2,007$1,421$985$672$451$110
32 years$1,923$1,344$919$617$408$94
33 years$1,845$1,273$858$568$370$80
34 years$1,771$1,207$802$522$335$69
35 years$1,701$1,145$750$481$303$59
36 years$1,636$1,086$701$443$275$50
37 years$1,574$1,032$657$408$249$43
38 years$1,516$981$615$376$226$37
39 years$1,461$932$576$347$205$32
40 years$1,408$887$540$320$186$27
41 years$1,359$844$506$295$168$23
42 years$1,311$804$475$272$153$20
43 years$1,266$766$446$251$139$17
44 years$1,224$730$418$232$126$14
45 years$1,183$697$393$214$114$12
46 years$1,144$664$369$198$104$11
47 years$1,107$634$347$183$94$9
48 years$1,072$605$326$169$86$8
49 years$1,038$578$306$156$78$7
50 years$1,006$552$288$144$71$6

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 $5,574 every year, while hoping to spend $55,610 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$1,140,810$1,086,220$1,070,255$1,208,838
54$1,198,004$1,080,276$1,046,940$1,249,268
55$1,259,167$1,072,177$1,020,980$1,286,589
56$1,324,648$1,061,759$992,227$1,326,065
57$1,394,824$1,048,847$960,529$1,367,907
58$1,470,112$1,033,257$925,723$1,412,353
59$1,550,970$1,014,793$887,641$1,459,665
60$1,637,899$993,247$846,107$1,510,131
61$1,731,450$968,402$800,937$1,564,076
62$1,832,227$940,023$751,938$1,621,855
63$1,940,894$907,864$698,908$1,683,864
64$2,058,182$871,666$641,638$1,750,542
65$2,184,892$831,153$579,908$1,822,374
66$2,321,905$786,033$513,489$1,899,899
67$2,470,189$735,998$442,140$1,983,711
68$2,630,808$680,722$365,612$2,074,470
69$2,804,933$619,861$283,643$2,172,908
70$2,993,851$553,049$195,960$2,279,832
71$3,198,978$479,902$102,278$2,396,136
72$3,421,870$400,013$2,300$2,522,811
73$3,664,239$312,952$0$2,660,952
74$3,927,970$218,266$0$2,834,048
75$4,215,136$115,474$0$3,023,133
76$4,528,019$4,071$0$3,229,270
77$4,869,128$0$0$3,454,172
78$5,241,226$0$0$3,718,955
79$5,647,355$0$0$4,008,752
80$6,090,862$0$0$4,325,288
81$6,575,433$0$0$4,671,201
82$7,105,123$0$0$5,049,397
83$7,684,401$0$0$5,463,073
84$8,318,183$0$0$5,915,752
85$9,011,885$0$0$6,411,310
86$9,771,470$0$0$6,954,018
87$10,603,505$0$0$7,548,578
88$11,515,220$0$0$8,200,168
89$12,514,581$0$0$8,914,492
90$13,610,357$0$0$9,697,831
91$14,812,211$0$0$10,557,104
92$16,130,781$0$0$11,499,930
93$17,577,790$0$0$12,534,704
94$19,166,145$0$0$13,670,671
95$20,910,069$0$0$14,918,015
96$22,825,226$0$0$16,287,956
97$24,928,872$0$0$17,792,853
98$27,240,018$0$0$19,446,320
99$29,779,605$0$0$21,263,356
100$32,570,704$0$0$23,260,486