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

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 $1,120,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.6%
1 years$92,489$91,665$90,861$90,076$89,310$86,905
2 years$45,786$44,934$44,107$43,306$42,529$40,122
3 years$30,221$29,365$28,540$27,747$26,982$24,650
4 years$22,440$21,586$20,770$19,990$19,244$17,004
5 years$17,772$16,924$16,118$15,354$14,629$12,488
6 years$14,662$13,820$13,026$12,279$11,575$9,535
7 years$12,441$11,606$10,825$10,095$9,414$7,474
8 years$10,776$9,948$9,180$8,469$7,810$5,970
9 years$9,482$8,662$7,907$7,213$6,577$4,835
10 years$8,447$7,635$6,893$6,218$5,604$3,958
11 years$7,601$6,797$6,069$5,411$4,819$3,267
12 years$6,896$6,100$5,386$4,747$4,176$2,714
13 years$6,300$5,513$4,812$4,191$3,642$2,267
14 years$5,790$5,011$4,324$3,720$3,193$1,902
15 years$5,348$4,578$3,904$3,317$2,811$1,601
16 years$4,962$4,200$3,539$2,970$2,484$1,352
17 years$4,622$3,868$3,221$2,669$2,203$1,144
18 years$4,319$3,574$2,940$2,405$1,959$970
19 years$4,049$3,313$2,691$2,173$1,746$824
20 years$3,807$3,078$2,470$1,968$1,559$701
21 years$3,587$2,867$2,272$1,786$1,395$597
22 years$3,388$2,677$2,094$1,624$1,251$509
23 years$3,206$2,503$1,933$1,479$1,123$434
24 years$3,040$2,345$1,788$1,349$1,009$371
25 years$2,888$2,201$1,656$1,232$908$317
26 years$2,747$2,069$1,536$1,127$818$271
27 years$2,617$1,947$1,426$1,031$737$232
28 years$2,496$1,834$1,326$945$665$198
29 years$2,384$1,731$1,234$866$601$170
30 years$2,280$1,634$1,149$795$543$145
31 years$2,182$1,545$1,071$730$491$125
32 years$2,091$1,462$1,000$671$444$107
33 years$2,006$1,384$933$617$402$91
34 years$1,925$1,312$872$568$364$78
35 years$1,850$1,245$815$523$330$67
36 years$1,779$1,181$763$481$299$58
37 years$1,712$1,122$714$444$271$49
38 years$1,648$1,066$669$409$245$42
39 years$1,588$1,014$626$377$222$36
40 years$1,531$965$587$348$202$31
41 years$1,477$918$551$321$183$27
42 years$1,426$874$516$296$166$23
43 years$1,377$833$485$273$151$20
44 years$1,331$794$455$252$137$17
45 years$1,286$757$427$233$124$14
46 years$1,244$723$401$215$113$12
47 years$1,204$689$377$199$102$11
48 years$1,166$658$354$184$93$9
49 years$1,129$629$333$170$84$8
50 years$1,094$600$313$157$77$7

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 $5,558 every year, while hoping to spend $42,281 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: 70/23/7 Blend
52$1,120,000$1,120,000$1,120,000$1,120,000
53$1,239,973$1,180,613$1,163,253$1,325,030
54$1,321,464$1,193,476$1,157,235$1,394,872
55$1,409,849$1,205,553$1,149,599$1,465,534
56$1,505,788$1,216,760$1,140,245$1,541,693
57$1,610,006$1,227,008$1,129,070$1,623,879
58$1,723,298$1,236,203$1,115,966$1,712,675
59$1,846,541$1,244,244$1,100,818$1,808,725
60$1,980,701$1,251,024$1,083,508$1,912,741
61$2,126,838$1,256,430$1,063,911$2,025,502
62$2,286,121$1,260,340$1,041,897$2,147,873
63$2,459,834$1,262,626$1,017,329$2,280,804
64$2,649,392$1,263,150$990,065$2,425,343
65$2,856,353$1,261,767$959,955$2,582,645
66$3,082,431$1,258,323$926,843$2,753,985
67$3,329,513$1,252,655$890,567$2,940,766
68$3,599,676$1,244,588$850,954$3,144,538
69$3,895,209$1,233,939$807,826$3,367,009
70$4,218,629$1,220,511$760,997$3,610,059
71$4,572,711$1,204,097$710,272$3,875,766
72$4,960,508$1,184,479$655,447$4,166,417
73$5,385,384$1,161,422$596,308$4,484,536
74$5,851,042$1,134,681$532,634$4,832,904
75$6,361,563$1,103,995$464,192$5,214,588
76$6,921,439$1,069,088$390,739$5,632,972
77$7,535,619$1,029,666$312,022$6,091,782
78$8,209,553$985,420$227,775$6,595,131
79$8,949,246$936,024$137,724$7,147,551
80$9,761,310$881,130$41,579$7,754,039
81$10,653,030$820,373$0$8,420,105
82$11,632,433$753,364$0$9,156,381
83$12,708,357$679,695$0$9,968,618
84$13,890,542$598,933$0$10,861,114
85$15,189,717$510,621$0$11,842,036
86$16,617,702$414,274$0$12,920,385
87$18,187,518$309,384$0$14,106,083
88$19,913,512$195,411$0$15,410,066
89$21,811,489$71,785$0$16,844,390
90$23,898,864$0$0$18,422,343
91$26,194,824$0$0$20,174,289
92$28,720,507$0$0$22,121,580
93$31,499,205$0$0$24,264,015
94$34,556,580$0$0$26,621,388
95$37,920,907$0$0$29,215,511
96$41,623,342$0$0$32,070,414
97$45,698,213$0$0$35,212,577
98$50,183,342$0$0$38,671,177
99$55,120,408$0$0$42,478,361
100$60,555,334$0$0$46,669,555