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

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 $1,070,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$88,360$87,573$86,805$86,055$85,323$82,958
2 years$43,742$42,928$42,138$41,373$40,630$38,265
3 years$28,872$28,054$27,266$26,508$25,777$23,486
4 years$21,438$20,622$19,843$19,097$18,385$16,185
5 years$16,979$16,168$15,399$14,669$13,976$11,874
6 years$14,007$13,203$12,445$11,731$11,059$9,056
7 years$11,885$11,088$10,341$9,644$8,994$7,091
8 years$10,295$9,504$8,770$8,090$7,461$5,657
9 years$9,058$8,275$7,554$6,891$6,283$4,576
10 years$8,070$7,294$6,586$5,940$5,354$3,741
11 years$7,261$6,493$5,798$5,170$4,604$3,084
12 years$6,588$5,828$5,146$4,535$3,990$2,559
13 years$6,019$5,267$4,597$4,003$3,479$2,135
14 years$5,531$4,788$4,131$3,554$3,050$1,788
15 years$5,109$4,373$3,729$3,169$2,685$1,503
16 years$4,741$4,013$3,381$2,838$2,373$1,267
17 years$4,415$3,695$3,077$2,550$2,104$1,071
18 years$4,127$3,415$2,809$2,298$1,871$907
19 years$3,869$3,165$2,571$2,076$1,668$769
20 years$3,637$2,941$2,360$1,880$1,490$653
21 years$3,427$2,739$2,171$1,707$1,333$556
22 years$3,237$2,557$2,000$1,552$1,195$473
23 years$3,063$2,392$1,847$1,413$1,073$403
24 years$2,904$2,241$1,708$1,289$964$344
25 years$2,759$2,103$1,582$1,177$868$293
26 years$2,624$1,976$1,467$1,076$781$250
27 years$2,500$1,860$1,363$985$705$214
28 years$2,385$1,753$1,267$903$636$183
29 years$2,278$1,653$1,179$828$574$156
30 years$2,178$1,561$1,098$760$519$133
31 years$2,085$1,476$1,024$698$469$114
32 years$1,998$1,397$955$641$424$98
33 years$1,916$1,323$892$590$384$83
34 years$1,840$1,254$833$543$348$71
35 years$1,767$1,189$779$499$315$61
36 years$1,699$1,129$729$460$285$52
37 years$1,635$1,072$682$424$259$45
38 years$1,575$1,019$639$391$234$38
39 years$1,517$969$598$360$213$33
40 years$1,463$922$561$332$193$28
41 years$1,411$877$526$306$175$24
42 years$1,362$835$493$283$159$21
43 years$1,316$796$463$261$144$18
44 years$1,271$759$435$241$131$15
45 years$1,229$724$408$223$119$13
46 years$1,189$690$383$206$108$11
47 years$1,150$659$360$190$98$9
48 years$1,113$629$338$176$89$8
49 years$1,078$600$318$162$81$7
50 years$1,045$574$299$150$73$6

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 $5,858 every year, while hoping to spend $37,225 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: 72/20/8 Blend
52$1,070,000$1,070,000$1,070,000$1,070,000
53$1,185,183$1,128,473$1,111,888$1,268,536
54$1,266,464$1,144,161$1,109,529$1,340,047
55$1,354,789$1,159,370$1,105,843$1,413,121
56$1,450,835$1,174,037$1,100,747$1,492,094
57$1,555,351$1,188,096$1,094,153$1,577,540
58$1,669,159$1,201,474$1,085,969$1,670,087
59$1,793,162$1,214,096$1,076,098$1,770,430
60$1,928,357$1,225,879$1,064,440$1,879,332
61$2,075,839$1,236,736$1,050,888$1,997,637
62$2,236,814$1,246,576$1,035,332$2,126,272
63$2,412,610$1,255,298$1,017,656$2,266,261
64$2,604,687$1,262,799$997,738$2,418,731
65$2,814,655$1,268,966$975,453$2,584,926
66$3,044,284$1,273,680$950,665$2,766,213
67$3,295,526$1,276,815$923,237$2,964,104
68$3,570,527$1,278,237$893,023$3,180,262
69$3,871,653$1,277,802$859,871$3,416,520
70$4,201,506$1,275,359$823,622$3,674,900
71$4,562,956$1,270,747$784,109$3,957,630
72$4,959,159$1,263,796$741,158$4,267,166
73$5,393,595$1,254,324$694,589$4,606,214
74$5,870,094$1,242,138$644,210$4,977,759
75$6,392,877$1,227,035$589,824$5,385,090
76$6,966,590$1,208,800$531,223$5,831,831
77$7,596,353$1,187,202$468,190$6,321,980
78$8,287,806$1,162,000$400,499$6,859,942
79$9,047,161$1,132,937$327,915$7,450,571
80$9,881,262$1,099,741$250,190$8,099,222
81$10,797,646$1,062,124$167,067$8,811,793
82$11,804,619$1,019,781$78,277$9,594,789
83$12,911,330$972,390$0$10,455,377
84$14,127,859$919,611$0$11,402,868
85$15,465,310$861,081$0$12,451,786
86$16,935,918$796,421$0$13,605,070
87$18,553,162$725,226$0$14,873,331
88$20,331,894$647,071$0$16,268,262
89$22,288,474$561,505$0$17,802,751
90$24,440,932$468,052$0$19,491,002
91$26,809,130$366,209$0$21,348,671
92$29,414,954$255,446$0$23,393,011
93$32,282,517$135,201$0$25,643,036
94$35,438,390$4,882$0$28,119,704
95$38,911,848$0$0$30,846,113
96$42,735,150$0$0$33,877,680
97$46,943,838$0$0$37,216,074
98$51,577,078$0$0$40,891,294
99$56,678,026$0$0$44,937,581
100$62,294,232$0$0$49,392,663