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%17.7%
1 years$88,360$87,573$86,805$86,055$85,323$82,658
2 years$43,742$42,928$42,138$41,373$40,630$37,969
3 years$28,872$28,054$27,266$26,508$25,777$23,203
4 years$21,438$20,622$19,843$19,097$18,385$15,918
5 years$16,979$16,168$15,399$14,669$13,976$11,622
6 years$14,007$13,203$12,445$11,731$11,059$8,821
7 years$11,885$11,088$10,341$9,644$8,994$6,871
8 years$10,295$9,504$8,770$8,090$7,461$5,453
9 years$9,058$8,275$7,554$6,891$6,283$4,387
10 years$8,070$7,294$6,586$5,940$5,354$3,566
11 years$7,261$6,493$5,798$5,170$4,604$2,923
12 years$6,588$5,828$5,146$4,535$3,990$2,411
13 years$6,019$5,267$4,597$4,003$3,479$1,999
14 years$5,531$4,788$4,131$3,554$3,050$1,664
15 years$5,109$4,373$3,729$3,169$2,685$1,390
16 years$4,741$4,013$3,381$2,838$2,373$1,164
17 years$4,415$3,695$3,077$2,550$2,104$978
18 years$4,127$3,415$2,809$2,298$1,871$822
19 years$3,869$3,165$2,571$2,076$1,668$693
20 years$3,637$2,941$2,360$1,880$1,490$584
21 years$3,427$2,739$2,171$1,707$1,333$494
22 years$3,237$2,557$2,000$1,552$1,195$417
23 years$3,063$2,392$1,847$1,413$1,073$353
24 years$2,904$2,241$1,708$1,289$964$299
25 years$2,759$2,103$1,582$1,177$868$253
26 years$2,624$1,976$1,467$1,076$781$214
27 years$2,500$1,860$1,363$985$705$182
28 years$2,385$1,753$1,267$903$636$154
29 years$2,278$1,653$1,179$828$574$131
30 years$2,178$1,561$1,098$760$519$111
31 years$2,085$1,476$1,024$698$469$94
32 years$1,998$1,397$955$641$424$80
33 years$1,916$1,323$892$590$384$68
34 years$1,840$1,254$833$543$348$58
35 years$1,767$1,189$779$499$315$49
36 years$1,699$1,129$729$460$285$42
37 years$1,635$1,072$682$424$259$35
38 years$1,575$1,019$639$391$234$30
39 years$1,517$969$598$360$213$25
40 years$1,463$922$561$332$193$22
41 years$1,411$877$526$306$175$18
42 years$1,362$835$493$283$159$16
43 years$1,316$796$463$261$144$13
44 years$1,271$759$435$241$131$11
45 years$1,229$724$408$223$119$10
46 years$1,189$690$383$206$108$8
47 years$1,150$659$360$190$98$7
48 years$1,113$629$338$176$89$6
49 years$1,078$600$318$162$81$5
50 years$1,045$574$299$150$73$4

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 $5,188 every year, while hoping to spend $54,000 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: 55/38/7 Blend
52$1,070,000$1,070,000$1,070,000$1,070,000
53$1,184,491$1,127,781$1,111,196$1,247,454
54$1,247,854$1,125,587$1,090,966$1,288,360
55$1,315,870$1,121,475$1,068,248$1,326,441
56$1,388,956$1,115,295$1,042,902$1,366,585
57$1,467,572$1,106,887$1,014,781$1,408,996
58$1,552,220$1,096,080$983,732$1,453,901
59$1,643,453$1,082,695$949,594$1,501,550
60$1,741,878$1,066,540$912,199$1,552,223
61$1,848,163$1,047,414$871,371$1,606,233
62$1,963,041$1,025,102$826,926$1,663,924
63$2,087,316$999,377$778,673$1,725,681
64$2,221,875$969,999$726,412$1,791,930
65$2,367,691$936,714$669,931$1,863,145
66$2,525,834$899,252$609,013$1,939,851
67$2,697,483$857,329$543,428$2,022,633
68$2,883,930$810,642$472,937$2,112,138
69$3,086,602$758,874$397,291$2,209,084
70$3,307,064$701,688$316,229$2,314,268
71$3,547,040$638,727$229,479$2,428,574
72$3,808,428$569,614$136,756$2,552,979
73$4,093,315$493,952$37,764$2,688,571
74$4,403,997$411,319$0$2,836,550
75$4,743,003$321,273$0$3,003,320
76$5,113,117$223,343$0$3,188,626
77$5,517,402$117,033$0$3,391,303
78$5,959,230$1,821$0$3,613,186
79$6,442,315$0$0$3,856,307
80$6,970,745$0$0$4,174,279
81$7,549,021$0$0$4,523,176
82$8,182,100$0$0$4,905,238
83$8,875,440$0$0$5,323,772
84$9,635,052$0$0$5,782,421
85$10,467,555$0$0$6,285,193
86$11,380,240$0$0$6,836,507
87$12,381,136$0$0$7,441,227
88$13,479,087$0$0$8,104,711
89$14,683,834$0$0$8,832,862
90$16,006,107$0$0$9,632,180
91$17,457,723$0$0$10,509,828
92$19,051,703$0$0$11,473,693
93$20,802,387$0$0$12,532,466
94$22,725,575$0$0$13,695,720
95$24,838,670$0$0$14,974,002
96$27,160,846$0$0$16,378,931
97$29,713,226$0$0$17,923,305
98$32,519,080$0$0$19,621,229
99$35,604,048$0$0$21,488,237
100$38,996,375$0$0$23,541,448