Can I retire at age 53 with 1,180,000?

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 $1,180,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$97,443$96,575$95,728$94,902$94,095$92,727
2 years$48,239$47,341$46,470$45,626$44,807$43,432
3 years$31,840$30,938$30,069$29,233$28,427$27,088
4 years$23,642$22,743$21,883$21,061$20,275$18,981
5 years$18,725$17,830$16,982$16,177$15,413$14,168
6 years$15,447$14,560$13,724$12,937$12,195$11,002
7 years$13,107$12,227$11,405$10,636$9,918$8,776
8 years$11,353$10,481$9,672$8,922$8,228$7,137
9 years$9,989$9,126$8,331$7,600$6,929$5,889
10 years$8,899$8,044$7,263$6,551$5,904$4,913
11 years$8,008$7,161$6,394$5,701$5,078$4,136
12 years$7,265$6,427$5,675$5,001$4,400$3,506
13 years$6,638$5,808$5,070$4,415$3,837$2,990
14 years$6,100$5,280$4,555$3,919$3,364$2,561
15 years$5,635$4,823$4,113$3,495$2,962$2,203
16 years$5,228$4,425$3,729$3,130$2,617$1,901
17 years$4,869$4,075$3,393$2,812$2,321$1,645
18 years$4,551$3,766$3,097$2,534$2,064$1,427
19 years$4,266$3,490$2,836$2,290$1,839$1,241
20 years$4,010$3,243$2,602$2,074$1,643$1,080
21 years$3,779$3,021$2,394$1,882$1,470$942
22 years$3,569$2,820$2,206$1,711$1,318$823
23 years$3,378$2,637$2,037$1,558$1,183$719
24 years$3,203$2,471$1,884$1,421$1,063$629
25 years$3,042$2,319$1,745$1,298$957$551
26 years$2,894$2,179$1,618$1,187$862$483
27 years$2,757$2,051$1,503$1,086$777$424
28 years$2,630$1,933$1,397$995$701$372
29 years$2,512$1,823$1,300$913$633$326
30 years$2,402$1,722$1,211$838$572$287
31 years$2,299$1,628$1,129$769$517$252
32 years$2,203$1,540$1,053$707$468$221
33 years$2,113$1,459$983$650$423$195
34 years$2,029$1,382$919$598$383$171
35 years$1,949$1,311$859$551$347$151
36 years$1,874$1,245$804$507$315$133
37 years$1,803$1,182$752$467$285$117
38 years$1,736$1,123$704$431$258$103
39 years$1,673$1,068$660$397$234$90
40 years$1,613$1,016$619$366$213$80
41 years$1,556$967$580$338$193$70
42 years$1,502$921$544$312$175$62
43 years$1,451$878$511$288$159$54
44 years$1,402$837$479$266$144$48
45 years$1,355$798$450$246$131$42
46 years$1,311$761$423$227$119$37
47 years$1,269$726$397$210$108$33
48 years$1,228$693$373$194$98$29
49 years$1,189$662$351$179$89$25
50 years$1,152$633$330$165$81$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $1,180,000, adding $6,569 every year, while hoping to spend $41,092 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: 36/41/23 Blend
52$1,180,000$1,180,000$1,180,000$1,180,000
53$1,307,136$1,244,596$1,226,306$1,344,917
54$1,396,742$1,261,860$1,223,666$1,390,521
55$1,494,111$1,278,592$1,219,560$1,435,458
56$1,599,991$1,294,723$1,213,895$1,483,146
57$1,715,205$1,310,180$1,206,576$1,533,857
58$1,840,660$1,324,883$1,197,500$1,587,890
59$1,977,352$1,338,747$1,186,561$1,645,582
60$2,126,378$1,351,681$1,173,647$1,707,301
61$2,288,946$1,363,591$1,158,642$1,773,457
62$2,466,385$1,374,373$1,141,422$1,844,505
63$2,660,157$1,383,919$1,121,861$1,920,948
64$2,871,874$1,392,112$1,099,824$2,003,343
65$3,103,308$1,398,827$1,075,171$2,092,307
66$3,356,410$1,403,935$1,047,754$2,188,523
67$3,633,331$1,407,295$1,017,421$2,292,746
68$3,936,437$1,408,759$984,011$2,405,815
69$4,268,334$1,408,168$947,355$2,528,655
70$4,631,891$1,405,355$907,279$2,662,291
71$5,030,268$1,400,142$863,597$2,807,856
72$5,466,947$1,392,341$816,119$2,966,604
73$5,945,760$1,381,750$764,644$3,139,923
74$6,470,930$1,368,158$708,961$3,329,347
75$7,047,106$1,351,339$648,853$3,536,571
76$7,679,410$1,331,054$584,089$3,763,470
77$8,373,484$1,307,050$514,430$4,012,117
78$9,135,544$1,279,059$439,628$4,284,803
79$9,972,434$1,246,798$359,420$4,584,060
80$10,891,697$1,209,966$273,535$4,912,687
81$11,901,640$1,168,244$181,689$5,273,774
82$13,011,416$1,121,296$83,583$5,670,737
83$14,231,106$1,068,766$0$6,107,350
84$15,571,819$1,010,276$0$6,592,962
85$17,045,793$945,428$0$7,149,222
86$18,666,511$873,800$0$7,760,762
87$20,448,826$794,947$0$8,433,285
88$22,409,104$708,398$0$9,173,079
89$24,565,378$613,654$0$9,987,083
90$26,937,513$510,191$0$10,882,952
91$29,547,401$397,451$0$11,869,129
92$32,419,158$274,848$0$12,954,931
93$35,579,358$141,762$0$14,150,632
94$39,057,283$0$0$15,467,566
95$42,885,194$0$0$16,919,344
96$47,098,640$0$0$18,587,939
97$51,736,792$0$0$20,424,930
98$56,842,808$0$0$22,447,436
99$62,464,248$0$0$24,674,321
100$68,653,513$0$0$27,126,372