Can I retire at age 53 with 1,120,000?

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 $1,120,000?

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$92,489$91,665$90,861$90,076$89,310$86,521
2 years$45,786$44,934$44,107$43,306$42,529$39,743
3 years$30,221$29,365$28,540$27,747$26,982$24,288
4 years$22,440$21,586$20,770$19,990$19,244$16,661
5 years$17,772$16,924$16,118$15,354$14,629$12,165
6 years$14,662$13,820$13,026$12,279$11,575$9,233
7 years$12,441$11,606$10,825$10,095$9,414$7,192
8 years$10,776$9,948$9,180$8,469$7,810$5,708
9 years$9,482$8,662$7,907$7,213$6,577$4,592
10 years$8,447$7,635$6,893$6,218$5,604$3,733
11 years$7,601$6,797$6,069$5,411$4,819$3,060
12 years$6,896$6,100$5,386$4,747$4,176$2,524
13 years$6,300$5,513$4,812$4,191$3,642$2,092
14 years$5,790$5,011$4,324$3,720$3,193$1,742
15 years$5,348$4,578$3,904$3,317$2,811$1,455
16 years$4,962$4,200$3,539$2,970$2,484$1,219
17 years$4,622$3,868$3,221$2,669$2,203$1,023
18 years$4,319$3,574$2,940$2,405$1,959$861
19 years$4,049$3,313$2,691$2,173$1,746$725
20 years$3,807$3,078$2,470$1,968$1,559$612
21 years$3,587$2,867$2,272$1,786$1,395$517
22 years$3,388$2,677$2,094$1,624$1,251$437
23 years$3,206$2,503$1,933$1,479$1,123$369
24 years$3,040$2,345$1,788$1,349$1,009$313
25 years$2,888$2,201$1,656$1,232$908$265
26 years$2,747$2,069$1,536$1,127$818$225
27 years$2,617$1,947$1,426$1,031$737$190
28 years$2,496$1,834$1,326$945$665$161
29 years$2,384$1,731$1,234$866$601$137
30 years$2,280$1,634$1,149$795$543$116
31 years$2,182$1,545$1,071$730$491$99
32 years$2,091$1,462$1,000$671$444$84
33 years$2,006$1,384$933$617$402$71
34 years$1,925$1,312$872$568$364$60
35 years$1,850$1,245$815$523$330$51
36 years$1,779$1,181$763$481$299$43
37 years$1,712$1,122$714$444$271$37
38 years$1,648$1,066$669$409$245$31
39 years$1,588$1,014$626$377$222$27
40 years$1,531$965$587$348$202$23
41 years$1,477$918$551$321$183$19
42 years$1,426$874$516$296$166$16
43 years$1,377$833$485$273$151$14
44 years$1,331$794$455$252$137$12
45 years$1,286$757$427$233$124$10
46 years$1,244$723$401$215$113$9
47 years$1,204$689$377$199$102$7
48 years$1,166$658$354$184$93$6
49 years$1,129$629$333$170$84$5
50 years$1,094$600$313$157$77$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $1,120,000, adding $5,698 every year, while hoping to spend $48,526 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: 48/33/19 Blend
52$1,120,000$1,120,000$1,120,000$1,120,000
53$1,240,117$1,180,757$1,163,397$1,292,746
54$1,314,978$1,186,983$1,150,740$1,336,125
55$1,395,848$1,191,888$1,136,032$1,377,828
56$1,483,290$1,195,355$1,119,154$1,422,087
57$1,577,919$1,197,262$1,099,980$1,469,161
58$1,680,416$1,197,477$1,078,378$1,519,338
59$1,791,527$1,195,861$1,054,212$1,572,938
60$1,912,072$1,192,267$1,027,337$1,630,316
61$2,042,953$1,186,538$997,603$1,691,865
62$2,185,163$1,178,508$964,852$1,758,022
63$2,339,794$1,167,999$928,919$1,829,271
64$2,508,048$1,154,826$889,632$1,906,150
65$2,691,246$1,138,790$846,812$1,989,253
66$2,890,842$1,119,680$800,270$2,079,240
67$3,108,438$1,097,273$749,808$2,176,843
68$3,345,794$1,071,335$695,222$2,282,871
69$3,604,850$1,041,616$636,297$2,398,222
70$3,887,740$1,007,850$572,808$2,523,889
71$4,196,813$969,759$504,521$2,660,972
72$4,534,657$927,045$431,191$2,810,689
73$4,904,117$879,396$352,562$2,974,388
74$5,308,332$826,481$268,367$3,153,560
75$5,750,751$767,948$178,327$3,349,856
76$6,235,179$703,428$82,152$3,565,101
77$6,765,800$632,529$0$3,801,315
78$7,347,225$554,837$0$4,064,884
79$7,984,532$469,914$0$4,372,169
80$8,683,313$377,299$0$4,709,295
81$9,449,727$276,502$0$5,079,349
82$10,290,558$167,009$0$5,485,743
83$11,213,277$48,276$0$5,932,239
84$12,226,116$0$0$6,422,991
85$13,338,141$0$0$6,991,734
86$14,559,339$0$0$7,635,696
87$15,900,711$0$0$8,343,161
88$17,374,377$0$0$9,120,540
89$18,993,689$0$0$9,974,892
90$20,773,355$0$0$10,913,995
91$22,729,579$0$0$11,946,420
92$24,880,215$0$0$13,081,607
93$27,244,931$0$0$14,329,957
94$29,845,395$0$0$15,702,931
95$32,705,484$0$0$17,213,155
96$35,851,502$0$0$18,874,540
97$39,312,430$0$0$20,702,414
98$43,120,201$0$0$22,713,666
99$47,309,999$0$0$24,926,903
100$51,920,590$0$0$27,362,628