Can I retire at age 53 with 1,080,000?

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 $1,080,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.4%
1 years$89,185$88,391$87,616$86,859$86,121$84,555
2 years$44,151$43,329$42,532$41,759$41,010$39,438
3 years$29,142$28,316$27,521$26,756$26,018$24,489
4 years$21,638$20,815$20,028$19,276$18,557$17,082
5 years$17,138$16,319$15,543$14,806$14,106$12,691
6 years$14,138$13,326$12,561$11,840$11,162$9,807
7 years$11,997$11,191$10,438$9,735$9,078$7,783
8 years$10,391$9,593$8,852$8,166$7,531$6,297
9 years$9,143$8,352$7,625$6,956$6,342$5,168
10 years$8,145$7,362$6,647$5,996$5,404$4,288
11 years$7,329$6,554$5,852$5,218$4,647$3,589
12 years$6,650$5,883$5,194$4,577$4,027$3,025
13 years$6,075$5,316$4,640$4,041$3,512$2,564
14 years$5,583$4,832$4,169$3,587$3,078$2,184
15 years$5,157$4,414$3,764$3,199$2,711$1,867
16 years$4,785$4,050$3,413$2,864$2,396$1,601
17 years$4,457$3,730$3,106$2,574$2,124$1,376
18 years$4,165$3,447$2,835$2,319$1,889$1,186
19 years$3,905$3,194$2,595$2,096$1,683$1,024
20 years$3,671$2,968$2,382$1,898$1,504$886
21 years$3,459$2,765$2,191$1,723$1,346$768
22 years$3,267$2,581$2,019$1,566$1,206$666
23 years$3,092$2,414$1,864$1,426$1,083$578
24 years$2,932$2,262$1,724$1,301$973$502
25 years$2,784$2,122$1,597$1,188$876$437
26 years$2,649$1,995$1,481$1,086$789$380
27 years$2,523$1,877$1,375$994$711$331
28 years$2,407$1,769$1,279$911$642$288
29 years$2,299$1,669$1,190$835$579$251
30 years$2,198$1,576$1,108$767$524$219
31 years$2,104$1,490$1,033$704$473$191
32 years$2,017$1,410$964$647$428$167
33 years$1,934$1,335$900$595$387$145
34 years$1,857$1,265$841$548$351$127
35 years$1,784$1,200$786$504$318$111
36 years$1,715$1,139$736$464$288$97
37 years$1,651$1,082$688$428$261$84
38 years$1,589$1,028$645$394$237$74
39 years$1,531$978$604$364$215$64
40 years$1,477$930$566$335$195$56
41 years$1,424$885$531$309$177$49
42 years$1,375$843$498$285$160$43
43 years$1,328$803$467$264$145$38
44 years$1,283$766$439$243$132$33
45 years$1,241$730$412$225$120$29
46 years$1,200$697$387$208$109$25
47 years$1,161$665$363$192$99$22
48 years$1,124$635$341$177$90$19
49 years$1,088$606$321$164$81$17
50 years$1,054$579$302$151$74$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $1,080,000, adding $6,577 every year, while hoping to spend $30,426 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: 73/17/10 Blend
52$1,080,000$1,080,000$1,080,000$1,080,000
53$1,196,944$1,139,704$1,122,964$1,281,611
54$1,286,659$1,163,177$1,128,210$1,361,885
55$1,384,506$1,186,780$1,132,613$1,445,350
56$1,491,281$1,210,487$1,136,111$1,535,926
57$1,607,862$1,234,271$1,138,641$1,634,307
58$1,735,215$1,258,102$1,140,136$1,741,258
59$1,874,404$1,281,945$1,140,528$1,857,622
60$2,026,599$1,305,767$1,139,741$1,984,326
61$2,193,089$1,329,527$1,137,700$2,122,393
62$2,375,295$1,353,184$1,134,324$2,272,949
63$2,574,779$1,376,694$1,129,527$2,437,236
64$2,793,262$1,400,008$1,123,222$2,616,618
65$3,032,640$1,423,073$1,115,315$2,812,604
66$3,295,000$1,445,834$1,105,709$3,026,852
67$3,582,641$1,468,231$1,094,301$3,261,190
68$3,898,095$1,490,200$1,080,985$3,517,634
69$4,244,152$1,511,670$1,065,649$3,798,402
70$4,623,882$1,532,569$1,048,175$4,105,940
71$5,040,670$1,552,817$1,028,441$4,442,945
72$5,498,243$1,572,329$1,006,318$4,812,386
73$6,000,706$1,591,016$981,672$5,217,536
74$6,552,582$1,608,780$954,362$5,662,002
75$7,158,853$1,625,518$924,241$6,149,758
76$7,825,008$1,641,120$891,155$6,685,185
77$8,557,093$1,655,469$854,943$7,273,108
78$9,361,770$1,668,440$815,437$7,918,848
79$10,246,377$1,679,901$772,461$8,628,266
80$11,219,000$1,689,708$725,831$9,407,823
81$12,288,546$1,697,712$675,354$10,264,637
82$13,464,830$1,703,753$620,831$11,206,556
83$14,758,665$1,707,659$562,051$12,242,226
84$16,181,965$1,709,250$498,796$13,381,175
85$17,747,855$1,708,333$430,835$14,633,907
86$19,470,799$1,704,704$357,931$16,011,995
87$21,366,733$1,698,147$279,834$17,528,193
88$23,453,214$1,688,430$196,282$19,196,560
89$25,749,588$1,675,310$107,005$21,032,587
90$28,277,174$1,658,527$11,717$23,053,348
91$31,059,458$1,637,808$0$25,277,658
92$34,122,323$1,612,861$0$27,735,855
93$37,494,287$1,583,378$0$30,443,150
94$41,206,773$1,549,032$0$33,423,513
95$45,294,406$1,509,477$0$36,704,736
96$49,795,341$1,464,347$0$40,317,448
97$54,751,620$1,413,254$0$44,295,400
98$60,209,570$1,355,788$0$48,675,788
99$66,220,239$1,291,515$0$53,499,600
100$72,839,879$1,219,975$0$58,812,007