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%11.8%
1 years$97,443$96,575$95,728$94,902$94,095$93,384
2 years$48,239$47,341$46,470$45,626$44,807$44,091
3 years$31,840$30,938$30,069$29,233$28,427$27,728
4 years$23,642$22,743$21,883$21,061$20,275$19,597
5 years$18,725$17,830$16,982$16,177$15,413$14,758
6 years$15,447$14,560$13,724$12,937$12,195$11,566
7 years$13,107$12,227$11,405$10,636$9,918$9,313
8 years$11,353$10,481$9,672$8,922$8,228$7,648
9 years$9,989$9,126$8,331$7,600$6,929$6,374
10 years$8,899$8,044$7,263$6,551$5,904$5,373
11 years$8,008$7,161$6,394$5,701$5,078$4,571
12 years$7,265$6,427$5,675$5,001$4,400$3,917
13 years$6,638$5,808$5,070$4,415$3,837$3,377
14 years$6,100$5,280$4,555$3,919$3,364$2,926
15 years$5,635$4,823$4,113$3,495$2,962$2,546
16 years$5,228$4,425$3,729$3,130$2,617$2,223
17 years$4,869$4,075$3,393$2,812$2,321$1,947
18 years$4,551$3,766$3,097$2,534$2,064$1,709
19 years$4,266$3,490$2,836$2,290$1,839$1,504
20 years$4,010$3,243$2,602$2,074$1,643$1,326
21 years$3,779$3,021$2,394$1,882$1,470$1,172
22 years$3,569$2,820$2,206$1,711$1,318$1,036
23 years$3,378$2,637$2,037$1,558$1,183$918
24 years$3,203$2,471$1,884$1,421$1,063$814
25 years$3,042$2,319$1,745$1,298$957$722
26 years$2,894$2,179$1,618$1,187$862$642
27 years$2,757$2,051$1,503$1,086$777$570
28 years$2,630$1,933$1,397$995$701$507
29 years$2,512$1,823$1,300$913$633$452
30 years$2,402$1,722$1,211$838$572$402
31 years$2,299$1,628$1,129$769$517$358
32 years$2,203$1,540$1,053$707$468$319
33 years$2,113$1,459$983$650$423$285
34 years$2,029$1,382$919$598$383$254
35 years$1,949$1,311$859$551$347$227
36 years$1,874$1,245$804$507$315$202
37 years$1,803$1,182$752$467$285$181
38 years$1,736$1,123$704$431$258$161
39 years$1,673$1,068$660$397$234$144
40 years$1,613$1,016$619$366$213$129
41 years$1,556$967$580$338$193$115
42 years$1,502$921$544$312$175$103
43 years$1,451$878$511$288$159$92
44 years$1,402$837$479$266$144$82
45 years$1,355$798$450$246$131$73
46 years$1,311$761$423$227$119$66
47 years$1,269$726$397$210$108$59
48 years$1,228$693$373$194$98$52
49 years$1,189$662$351$179$89$47
50 years$1,152$633$330$165$81$42

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 $5,697 every year, while hoping to spend $37,479 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: 55/35/10 Blend
52$1,180,000$1,180,000$1,180,000$1,180,000
53$1,306,236$1,243,696$1,225,406$1,374,529
54$1,399,595$1,264,760$1,226,580$1,442,473
55$1,501,220$1,285,600$1,226,537$1,511,811
56$1,611,916$1,306,165$1,225,197$1,586,415
57$1,732,565$1,326,402$1,222,475$1,666,791
58$1,864,143$1,346,251$1,218,284$1,753,501
59$2,007,719$1,365,651$1,212,530$1,847,159
60$2,164,473$1,384,534$1,205,117$1,948,447
61$2,335,703$1,402,830$1,195,942$2,058,114
62$2,522,838$1,420,462$1,184,899$2,176,989
63$2,727,450$1,437,348$1,171,876$2,305,981
64$2,951,273$1,453,400$1,156,756$2,446,098
65$3,196,212$1,468,527$1,139,417$2,598,449
66$3,464,369$1,482,627$1,119,731$2,764,256
67$3,758,054$1,495,596$1,097,562$2,944,869
68$4,079,816$1,507,321$1,072,771$3,141,776
69$4,432,459$1,517,681$1,045,210$3,356,616
70$4,819,071$1,526,548$1,014,725$3,591,200
71$5,243,054$1,533,787$981,157$3,847,523
72$5,708,155$1,539,252$944,335$4,127,785
73$6,218,501$1,542,790$904,085$4,434,413
74$6,778,639$1,544,237$860,221$4,770,083
75$7,393,574$1,543,419$812,553$5,137,748
76$8,068,823$1,540,151$760,879$5,540,661
77$8,810,463$1,534,238$704,988$5,982,412
78$9,625,187$1,525,472$644,661$6,466,959
79$10,520,368$1,513,633$579,669$6,998,667
80$11,504,130$1,498,485$509,773$7,582,349
81$12,585,422$1,479,782$434,721$8,223,312
82$13,774,105$1,457,261$354,254$8,927,410
83$15,081,039$1,430,642$268,097$9,701,094
84$16,518,193$1,399,631$175,966$10,551,482
85$18,098,751$1,363,916$77,564$11,486,420
86$19,837,241$1,323,165$0$12,514,559
87$21,749,668$1,277,029$0$13,648,367
88$23,853,668$1,225,136$0$14,904,455
89$26,168,669$1,167,095$0$16,286,171
90$28,716,081$1,102,491$0$17,806,338
91$31,519,493$1,030,885$0$19,479,093
92$34,604,895$951,812$0$21,320,019
93$38,000,927$864,783$0$23,346,291
94$41,739,143$769,279$0$25,576,847
95$45,854,315$664,753$0$28,032,560
96$50,384,753$550,624$0$30,736,436
97$55,372,676$426,282$0$33,713,840
98$60,864,599$291,081$0$36,992,729
99$66,911,783$144,338$0$40,603,918
100$73,570,707$0$0$44,581,378