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%12.1%
1 years$97,443$96,575$95,728$94,902$94,095$93,268
2 years$48,239$47,341$46,470$45,626$44,807$43,973
3 years$31,840$30,938$30,069$29,233$28,427$27,613
4 years$23,642$22,743$21,883$21,061$20,275$19,486
5 years$18,725$17,830$16,982$16,177$15,413$14,652
6 years$15,447$14,560$13,724$12,937$12,195$11,464
7 years$13,107$12,227$11,405$10,636$9,918$9,216
8 years$11,353$10,481$9,672$8,922$8,228$7,555
9 years$9,989$9,126$8,331$7,600$6,929$6,286
10 years$8,899$8,044$7,263$6,551$5,904$5,289
11 years$8,008$7,161$6,394$5,701$5,078$4,491
12 years$7,265$6,427$5,675$5,001$4,400$3,841
13 years$6,638$5,808$5,070$4,415$3,837$3,305
14 years$6,100$5,280$4,555$3,919$3,364$2,858
15 years$5,635$4,823$4,113$3,495$2,962$2,482
16 years$5,228$4,425$3,729$3,130$2,617$2,163
17 years$4,869$4,075$3,393$2,812$2,321$1,890
18 years$4,551$3,766$3,097$2,534$2,064$1,656
19 years$4,266$3,490$2,836$2,290$1,839$1,454
20 years$4,010$3,243$2,602$2,074$1,643$1,280
21 years$3,779$3,021$2,394$1,882$1,470$1,128
22 years$3,569$2,820$2,206$1,711$1,318$995
23 years$3,378$2,637$2,037$1,558$1,183$879
24 years$3,203$2,471$1,884$1,421$1,063$778
25 years$3,042$2,319$1,745$1,298$957$689
26 years$2,894$2,179$1,618$1,187$862$610
27 years$2,757$2,051$1,503$1,086$777$541
28 years$2,630$1,933$1,397$995$701$480
29 years$2,512$1,823$1,300$913$633$427
30 years$2,402$1,722$1,211$838$572$379
31 years$2,299$1,628$1,129$769$517$337
32 years$2,203$1,540$1,053$707$468$300
33 years$2,113$1,459$983$650$423$266
34 years$2,029$1,382$919$598$383$237
35 years$1,949$1,311$859$551$347$211
36 years$1,874$1,245$804$507$315$188
37 years$1,803$1,182$752$467$285$167
38 years$1,736$1,123$704$431$258$149
39 years$1,673$1,068$660$397$234$133
40 years$1,613$1,016$619$366$213$118
41 years$1,556$967$580$338$193$105
42 years$1,502$921$544$312$175$94
43 years$1,451$878$511$288$159$84
44 years$1,402$837$479$266$144$75
45 years$1,355$798$450$246$131$66
46 years$1,311$761$423$227$119$59
47 years$1,269$726$397$210$108$53
48 years$1,228$693$373$194$98$47
49 years$1,189$662$351$179$89$42
50 years$1,152$633$330$165$81$37

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 $4,001 every year, while hoping to spend $37,950 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: 34/38/28 Blend
52$1,180,000$1,180,000$1,180,000$1,180,000
53$1,304,487$1,241,947$1,223,657$1,337,673
54$1,397,166$1,262,424$1,224,271$1,383,528
55$1,498,027$1,282,632$1,223,634$1,429,269
56$1,607,863$1,302,519$1,221,663$1,477,862
57$1,727,549$1,322,027$1,218,273$1,529,586
58$1,858,048$1,341,094$1,213,373$1,584,751
59$2,000,417$1,359,656$1,206,870$1,643,702
60$2,155,823$1,377,642$1,198,663$1,706,817
61$2,325,548$1,394,978$1,188,649$1,774,518
62$2,511,004$1,411,583$1,176,720$1,847,271
63$2,713,747$1,427,371$1,162,761$1,925,591
64$2,935,489$1,442,251$1,146,652$2,010,049
65$3,178,113$1,456,126$1,128,270$2,101,275
66$3,443,697$1,468,892$1,107,483$2,199,969
67$3,734,524$1,480,438$1,084,154$2,306,904
68$4,053,112$1,490,647$1,058,140$2,422,933
69$4,402,233$1,499,392$1,029,291$2,549,002
70$4,784,939$1,506,540$997,450$2,686,157
71$5,204,591$1,511,949$962,453$2,835,552
72$5,664,893$1,515,468$924,129$2,998,466
73$6,169,923$1,516,937$882,299$3,176,310
74$6,724,174$1,516,185$836,774$3,370,647
75$7,332,593$1,513,031$787,359$3,583,201
76$8,000,631$1,507,283$733,849$3,815,878
77$8,734,292$1,498,737$676,030$4,070,786
78$9,540,191$1,487,177$613,678$4,350,251
79$10,425,615$1,472,373$546,560$4,656,846
80$11,398,589$1,454,081$474,432$4,993,409
81$12,467,959$1,432,044$397,039$5,363,079
82$13,643,465$1,405,989$314,115$5,769,319
83$14,935,843$1,375,626$225,381$6,215,956
84$16,356,916$1,340,649$130,549$6,707,214
85$17,919,713$1,300,733$29,314$7,247,759
86$19,638,589$1,255,535$0$7,842,740
87$21,529,360$1,204,690$0$8,521,361
88$23,609,449$1,147,814$0$9,277,254
89$25,898,056$1,084,500$0$10,108,684
90$28,416,335$1,014,318$0$11,023,403
91$31,187,594$936,813$0$12,029,962
92$34,237,514$851,502$0$13,137,791
93$37,594,393$757,878$0$14,357,289
94$41,289,410$655,403$0$15,699,923
95$45,356,921$543,509$0$17,178,338
96$49,834,782$421,596$0$18,806,478
97$54,764,706$289,031$0$20,599,718
98$60,192,655$145,142$0$22,575,011
99$66,169,277$0$0$24,751,051
100$72,750,378$0$0$27,152,955