Can I retire at age 53 with 1,070,000?

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 $1,070,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.3%
1 years$88,360$87,573$86,805$86,055$85,323$83,464
2 years$43,742$42,928$42,138$41,373$40,630$38,766
3 years$28,872$28,054$27,266$26,508$25,777$23,967
4 years$21,438$20,622$19,843$19,097$18,385$16,642
5 years$16,979$16,168$15,399$14,669$13,976$12,306
6 years$14,007$13,203$12,445$11,731$11,059$9,463
7 years$11,885$11,088$10,341$9,644$8,994$7,472
8 years$10,295$9,504$8,770$8,090$7,461$6,014
9 years$9,058$8,275$7,554$6,891$6,283$4,909
10 years$8,070$7,294$6,586$5,940$5,354$4,051
11 years$7,261$6,493$5,798$5,170$4,604$3,371
12 years$6,588$5,828$5,146$4,535$3,990$2,825
13 years$6,019$5,267$4,597$4,003$3,479$2,380
14 years$5,531$4,788$4,131$3,554$3,050$2,015
15 years$5,109$4,373$3,729$3,169$2,685$1,711
16 years$4,741$4,013$3,381$2,838$2,373$1,458
17 years$4,415$3,695$3,077$2,550$2,104$1,246
18 years$4,127$3,415$2,809$2,298$1,871$1,067
19 years$3,869$3,165$2,571$2,076$1,668$915
20 years$3,637$2,941$2,360$1,880$1,490$786
21 years$3,427$2,739$2,171$1,707$1,333$676
22 years$3,237$2,557$2,000$1,552$1,195$583
23 years$3,063$2,392$1,847$1,413$1,073$502
24 years$2,904$2,241$1,708$1,289$964$433
25 years$2,759$2,103$1,582$1,177$868$374
26 years$2,624$1,976$1,467$1,076$781$323
27 years$2,500$1,860$1,363$985$705$279
28 years$2,385$1,753$1,267$903$636$242
29 years$2,278$1,653$1,179$828$574$209
30 years$2,178$1,561$1,098$760$519$181
31 years$2,085$1,476$1,024$698$469$157
32 years$1,998$1,397$955$641$424$136
33 years$1,916$1,323$892$590$384$117
34 years$1,840$1,254$833$543$348$102
35 years$1,767$1,189$779$499$315$88
36 years$1,699$1,129$729$460$285$76
37 years$1,635$1,072$682$424$259$66
38 years$1,575$1,019$639$391$234$57
39 years$1,517$969$598$360$213$50
40 years$1,463$922$561$332$193$43
41 years$1,411$877$526$306$175$37
42 years$1,362$835$493$283$159$32
43 years$1,316$796$463$261$144$28
44 years$1,271$759$435$241$131$24
45 years$1,229$724$408$223$119$21
46 years$1,189$690$383$206$108$18
47 years$1,150$659$360$190$98$16
48 years$1,113$629$338$176$89$14
49 years$1,078$600$318$162$81$12
50 years$1,045$574$299$150$73$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $1,070,000, adding $4,410 every year, while hoping to spend $20,014 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: 33/48/19 Blend
52$1,070,000$1,070,000$1,070,000$1,070,000
53$1,183,689$1,126,979$1,110,394$1,215,670
54$1,283,130$1,160,906$1,126,297$1,273,681
55$1,392,044$1,195,825$1,142,063$1,334,010
56$1,511,375$1,231,763$1,157,664$1,398,609
57$1,642,164$1,268,748$1,173,075$1,467,866
58$1,785,558$1,306,810$1,188,266$1,542,206
59$1,942,818$1,345,977$1,203,206$1,622,099
60$2,115,335$1,386,279$1,217,863$1,708,058
61$2,304,642$1,427,749$1,232,204$1,800,649
62$2,512,424$1,470,417$1,246,191$1,900,495
63$2,740,540$1,514,317$1,259,787$2,008,280
64$2,991,037$1,559,480$1,272,952$2,124,759
65$3,266,170$1,605,942$1,285,644$2,250,758
66$3,568,424$1,653,737$1,297,817$2,387,192
67$3,900,533$1,702,901$1,309,424$2,535,063
68$4,265,515$1,753,470$1,320,417$2,695,477
69$4,666,688$1,805,482$1,330,742$2,869,650
70$5,107,714$1,858,973$1,340,345$3,058,921
71$5,592,622$1,913,985$1,349,168$3,264,764
72$6,125,855$1,970,555$1,357,150$3,488,804
73$6,712,304$2,028,725$1,364,228$3,732,826
74$7,357,363$2,088,536$1,370,333$3,998,800
75$8,066,970$2,150,030$1,375,395$4,288,892
76$8,847,671$2,213,251$1,379,340$4,605,491
77$9,706,676$2,278,243$1,382,091$4,951,226
78$10,651,930$2,345,050$1,383,564$5,328,993
79$11,692,189$2,413,719$1,383,675$5,741,981
80$12,837,097$2,484,297$1,382,334$6,193,704
81$14,097,283$2,556,830$1,379,444$6,688,034
82$15,484,459$2,631,367$1,374,909$7,229,233
83$17,011,529$2,707,959$1,368,623$7,822,000
84$18,692,710$2,786,654$1,360,477$8,471,508
85$20,543,671$2,867,505$1,350,358$9,183,460
86$22,581,676$2,950,563$1,338,145$9,964,135
87$24,825,747$3,035,881$1,323,713$10,820,455
88$27,296,848$3,123,514$1,306,932$11,760,043
89$30,018,075$3,213,514$1,287,662$12,791,300
90$33,014,881$3,305,939$1,265,762$13,923,482
91$36,315,312$3,400,844$1,241,078$15,166,786
92$39,950,274$3,498,285$1,213,455$16,532,451
93$43,953,823$3,598,322$1,182,726$18,032,856
94$48,363,485$3,701,012$1,148,720$19,681,646
95$53,220,614$3,806,415$1,111,255$21,493,852
96$58,570,777$3,914,589$1,070,142$23,486,039
97$64,464,189$4,025,597$1,025,185$25,676,461
98$70,956,184$4,139,499$976,176$28,085,230
99$78,107,736$4,256,356$922,900$30,734,509
100$85,986,039$4,376,231$865,131$33,648,720