Can I retire at age 53 with 1,060,000?

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 $1,060,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.9%
1 years$87,534$86,754$85,993$85,251$84,526$83,160
2 years$43,334$42,527$41,744$40,986$40,250$38,878
3 years$28,602$27,792$27,011$26,260$25,537$24,200
4 years$21,238$20,430$19,657$18,919$18,213$16,923
5 years$16,820$16,017$15,255$14,532$13,845$12,606
6 years$13,876$13,079$12,328$11,621$10,955$9,767
7 years$11,774$10,984$10,245$9,554$8,909$7,774
8 years$10,199$9,415$8,688$8,015$7,391$6,307
9 years$8,974$8,198$7,483$6,827$6,225$5,192
10 years$7,994$7,226$6,524$5,885$5,304$4,321
11 years$7,193$6,433$5,744$5,122$4,561$3,629
12 years$6,526$5,774$5,097$4,492$3,953$3,068
13 years$5,963$5,218$4,554$3,966$3,447$2,609
14 years$5,480$4,743$4,092$3,521$3,021$2,229
15 years$5,062$4,333$3,695$3,140$2,660$1,912
16 years$4,696$3,975$3,350$2,811$2,351$1,646
17 years$4,374$3,661$3,048$2,526$2,085$1,420
18 years$4,088$3,383$2,782$2,276$1,854$1,228
19 years$3,832$3,135$2,547$2,057$1,652$1,065
20 years$3,603$2,913$2,338$1,863$1,476$924
21 years$3,395$2,714$2,150$1,691$1,321$804
22 years$3,206$2,533$1,982$1,537$1,184$700
23 years$3,035$2,369$1,830$1,400$1,063$610
24 years$2,877$2,220$1,692$1,277$955$532
25 years$2,733$2,083$1,567$1,166$859$464
26 years$2,600$1,958$1,454$1,066$774$406
27 years$2,477$1,843$1,350$976$698$355
28 years$2,363$1,736$1,255$894$630$310
29 years$2,256$1,638$1,168$820$569$272
30 years$2,158$1,547$1,088$753$514$238
31 years$2,065$1,462$1,014$691$465$208
32 years$1,979$1,384$946$635$420$182
33 years$1,898$1,310$883$584$380$160
34 years$1,822$1,242$825$537$344$140
35 years$1,751$1,178$772$495$312$123
36 years$1,684$1,118$722$456$283$108
37 years$1,620$1,062$676$420$256$94
38 years$1,560$1,009$633$387$232$83
39 years$1,503$960$593$357$211$73
40 years$1,449$913$556$329$191$64
41 years$1,398$869$521$304$173$56
42 years$1,350$828$489$280$157$49
43 years$1,303$789$459$259$143$43
44 years$1,259$752$430$239$130$38
45 years$1,218$717$404$221$118$33
46 years$1,178$684$380$204$107$29
47 years$1,140$653$357$188$97$26
48 years$1,103$623$335$174$88$22
49 years$1,068$595$315$161$80$20
50 years$1,035$568$296$149$73$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $1,060,000, adding $5,962 every year, while hoping to spend $56,766 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: 47/25/28 Blend
52$1,060,000$1,060,000$1,060,000$1,060,000
53$1,174,270$1,118,090$1,101,660$1,219,791
54$1,233,647$1,112,478$1,078,167$1,246,904
55$1,297,178$1,104,688$1,051,984$1,270,322
56$1,365,226$1,094,554$1,022,962$1,294,648
57$1,438,191$1,081,899$990,943$1,319,996
58$1,516,511$1,066,536$955,764$1,346,497
59$1,600,665$1,048,267$917,252$1,374,298
60$1,691,181$1,026,880$875,229$1,403,565
61$1,788,638$1,002,154$829,506$1,434,485
62$1,893,673$973,853$779,887$1,467,271
63$2,006,982$941,726$726,168$1,502,157
64$2,129,333$905,510$668,134$1,539,411
65$2,261,571$864,925$605,562$1,579,332
66$2,404,620$819,676$538,217$1,622,254
67$2,559,500$769,448$465,856$1,668,553
68$2,727,330$713,913$388,223$1,718,648
69$2,909,342$652,719$305,053$1,773,007
70$3,106,890$585,497$216,067$1,832,156
71$3,321,462$511,856$120,975$1,896,679
72$3,554,698$431,383$19,474$1,967,229
73$3,808,398$343,642$0$2,044,534
74$4,084,547$248,173$0$2,155,947
75$4,385,325$144,487$0$2,283,763
76$4,713,133$32,072$0$2,423,265
77$5,070,613$0$0$2,575,678
78$5,460,674$0$0$2,767,011
79$5,886,516$0$0$2,985,641
80$6,351,663$0$0$3,224,568
81$6,859,993$0$0$3,485,799
82$7,415,778$0$0$3,771,543
83$8,023,719$0$0$4,084,234
84$8,688,993$0$0$4,426,552
85$9,417,300$0$0$4,801,446
86$10,214,920$0$0$5,212,166
87$11,088,763$0$0$5,662,290
88$12,046,444$0$0$6,155,759
89$13,096,348$0$0$6,696,914
90$14,247,708$0$0$7,290,534
91$15,510,696$0$0$7,941,885
92$16,896,516$0$0$8,656,767
93$18,417,506$0$0$9,441,568
94$20,087,260$0$0$10,303,326
95$21,920,751$0$0$11,249,793
96$23,934,473$0$0$12,289,509
97$26,146,595$0$0$13,431,882
98$28,577,133$0$0$14,687,275
99$31,248,140$0$0$16,067,106
100$34,183,908$0$0$17,583,955