Can I retire at age 53 with 1,040,000?

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 $1,040,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.6%
1 years$85,882$85,117$84,371$83,642$82,931$81,692
2 years$42,516$41,724$40,957$40,213$39,491$38,245
3 years$28,062$27,267$26,502$25,765$25,055$23,841
4 years$20,837$20,044$19,286$18,562$17,869$16,697
5 years$16,503$15,715$14,967$14,257$13,584$12,457
6 years$13,615$12,832$12,096$11,402$10,748$9,668
7 years$11,552$10,777$10,052$9,374$8,741$7,708
8 years$10,006$9,238$8,524$7,864$7,252$6,265
9 years$8,804$8,043$7,342$6,698$6,107$5,166
10 years$7,843$7,089$6,401$5,774$5,204$4,308
11 years$7,058$6,311$5,635$5,025$4,475$3,624
12 years$6,403$5,665$5,001$4,408$3,878$3,070
13 years$5,850$5,119$4,468$3,891$3,382$2,616
14 years$5,376$4,653$4,015$3,454$2,964$2,240
15 years$4,966$4,251$3,625$3,081$2,610$1,925
16 years$4,608$3,900$3,286$2,758$2,307$1,660
17 years$4,292$3,592$2,991$2,478$2,045$1,436
18 years$4,011$3,319$2,730$2,233$1,819$1,245
19 years$3,760$3,076$2,499$2,018$1,621$1,081
20 years$3,535$2,858$2,294$1,828$1,448$941
21 years$3,331$2,662$2,110$1,659$1,296$820
22 years$3,146$2,485$1,944$1,508$1,161$715
23 years$2,977$2,324$1,795$1,374$1,043$625
24 years$2,823$2,178$1,660$1,253$937$546
25 years$2,681$2,044$1,538$1,144$843$478
26 years$2,551$1,921$1,426$1,046$760$419
27 years$2,430$1,808$1,324$958$685$367
28 years$2,318$1,703$1,231$877$618$322
29 years$2,214$1,607$1,146$805$558$282
30 years$2,117$1,518$1,067$738$504$248
31 years$2,027$1,435$995$678$456$217
32 years$1,942$1,357$928$623$412$191
33 years$1,862$1,286$867$573$373$168
34 years$1,788$1,218$810$527$338$147
35 years$1,718$1,156$757$485$306$130
36 years$1,652$1,097$708$447$277$114
37 years$1,589$1,042$663$412$251$100
38 years$1,530$990$621$380$228$88
39 years$1,475$941$582$350$207$77
40 years$1,422$896$545$323$187$68
41 years$1,372$853$511$298$170$60
42 years$1,324$812$480$275$154$53
43 years$1,279$774$450$254$140$46
44 years$1,236$738$422$234$127$41
45 years$1,195$703$397$216$115$36
46 years$1,155$671$372$200$105$32
47 years$1,118$640$350$185$95$28
48 years$1,082$611$329$171$86$24
49 years$1,048$584$309$158$78$22
50 years$1,015$558$291$146$71$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $1,040,000, adding $3,889 every year, while hoping to spend $26,719 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: 29/42/29 Blend
52$1,040,000$1,040,000$1,040,000$1,040,000
53$1,150,092$1,094,972$1,078,852$1,173,077
54$1,238,972$1,120,196$1,086,564$1,216,849
55$1,336,023$1,145,762$1,093,640$1,261,302
56$1,442,049$1,171,656$1,100,029$1,308,564
57$1,557,937$1,197,866$1,105,679$1,358,898
58$1,684,663$1,224,378$1,110,535$1,412,592
59$1,823,301$1,251,175$1,114,541$1,469,966
60$1,975,035$1,278,239$1,117,635$1,531,371
61$2,141,167$1,305,551$1,119,754$1,597,196
62$2,323,131$1,333,089$1,120,831$1,667,870
63$2,522,509$1,360,828$1,120,797$1,743,867
64$2,741,038$1,388,743$1,119,577$1,825,709
65$2,980,637$1,416,804$1,117,096$1,913,972
66$3,243,415$1,444,981$1,113,272$2,009,294
67$3,531,698$1,473,239$1,108,021$2,112,377
68$3,848,045$1,501,541$1,101,253$2,223,997
69$4,195,277$1,529,848$1,092,877$2,345,009
70$4,576,500$1,558,116$1,082,793$2,476,358
71$4,995,138$1,586,298$1,070,902$2,619,087
72$5,454,959$1,614,344$1,057,094$2,774,345
73$5,960,118$1,642,199$1,041,259$2,943,404
74$6,515,188$1,669,805$1,023,279$3,127,664
75$7,125,210$1,697,098$1,003,032$3,328,671
76$7,795,736$1,724,012$980,389$3,548,131
77$8,532,885$1,750,472$955,215$3,787,928
78$9,343,395$1,776,401$927,371$4,050,139
79$10,234,693$1,801,716$896,709$4,337,056
80$11,214,958$1,826,326$863,075$4,651,208
81$12,293,204$1,850,137$826,309$4,995,385
82$13,479,363$1,873,045$786,242$5,372,666
83$14,784,376$1,894,942$742,699$5,786,447
84$16,220,299$1,915,711$695,496$6,240,474
85$17,800,415$1,935,227$644,441$6,738,880
86$19,539,361$1,953,357$589,334$7,286,223
87$21,453,264$1,969,959$529,964$7,887,534
88$23,559,893$1,984,883$466,114$8,548,358
89$25,878,827$1,997,967$397,554$9,274,813
90$28,431,641$2,009,042$324,046$10,073,648
91$31,242,107$2,017,923$245,340$10,952,304
92$34,336,420$2,024,419$161,177$11,918,990
93$37,743,442$2,028,323$71,284$12,982,758
94$41,494,979$2,029,417$0$14,153,591
95$45,626,076$2,027,468$0$15,450,126
96$50,175,352$2,022,229$0$16,900,909
97$55,185,359$2,013,440$0$18,497,345
98$60,702,989$2,000,822$0$20,254,295
99$66,779,912$1,984,080$0$22,188,141
100$73,473,065$1,962,902$0$24,316,941