Can I retire at age 53 with 1,200,000?

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 $1,200,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.7%
1 years$99,095$98,212$97,351$96,510$95,690$94,612
2 years$49,057$48,143$47,258$46,399$45,567$44,481
3 years$32,380$31,462$30,579$29,728$28,909$27,850
4 years$24,043$23,128$22,254$21,418$20,618$19,594
5 years$19,042$18,133$17,270$16,451$15,674$14,687
6 years$15,709$14,807$13,956$13,156$12,402$11,454
7 years$13,329$12,435$11,598$10,816$10,086$9,178
8 years$11,546$10,659$9,836$9,073$8,367$7,498
9 years$10,159$9,280$8,472$7,729$7,047$6,216
10 years$9,050$8,180$7,386$6,662$6,004$5,212
11 years$8,143$7,282$6,502$5,798$5,164$4,409
12 years$7,388$6,536$5,771$5,086$4,475$3,757
13 years$6,750$5,907$5,156$4,490$3,902$3,220
14 years$6,204$5,369$4,632$3,986$3,421$2,773
15 years$5,730$4,905$4,182$3,554$3,012$2,398
16 years$5,316$4,500$3,792$3,183$2,662$2,081
17 years$4,952$4,144$3,451$2,860$2,360$1,811
18 years$4,628$3,830$3,150$2,577$2,098$1,580
19 years$4,339$3,549$2,884$2,329$1,870$1,382
20 years$4,078$3,298$2,646$2,109$1,671$1,210
21 years$3,843$3,072$2,434$1,914$1,495$1,062
22 years$3,630$2,868$2,244$1,740$1,340$933
23 years$3,435$2,682$2,071$1,585$1,203$821
24 years$3,257$2,513$1,916$1,446$1,081$723
25 years$3,094$2,358$1,774$1,320$973$637
26 years$2,943$2,216$1,646$1,207$876$562
27 years$2,804$2,086$1,528$1,105$790$496
28 years$2,675$1,966$1,421$1,012$713$438
29 years$2,555$1,854$1,322$928$644$387
30 years$2,443$1,751$1,231$852$582$342
31 years$2,338$1,655$1,148$782$526$303
32 years$2,241$1,566$1,071$719$476$268
33 years$2,149$1,483$1,000$661$431$237
34 years$2,063$1,406$934$608$390$210
35 years$1,982$1,333$874$560$353$186
36 years$1,906$1,266$817$516$320$165
37 years$1,834$1,202$765$475$290$146
38 years$1,766$1,142$716$438$263$129
39 years$1,702$1,086$671$404$238$115
40 years$1,641$1,034$629$373$216$101
41 years$1,583$984$590$344$196$90
42 years$1,528$937$553$317$178$80
43 years$1,476$893$519$293$162$71
44 years$1,426$851$487$270$147$63
45 years$1,378$811$458$250$133$56
46 years$1,333$774$430$231$121$49
47 years$1,290$739$404$213$110$44
48 years$1,249$705$379$197$100$39
49 years$1,209$673$357$182$91$34
50 years$1,172$643$335$168$82$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $1,200,000, adding $6,618 every year, while hoping to spend $27,929 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: 66/9/25 Blend
52$1,200,000$1,200,000$1,200,000$1,200,000
53$1,329,226$1,265,626$1,247,026$1,407,914
54$1,435,091$1,297,926$1,259,086$1,494,004
55$1,550,818$1,330,872$1,270,613$1,584,339
56$1,677,384$1,364,467$1,281,560$1,682,470
57$1,815,863$1,398,712$1,291,879$1,789,168
58$1,967,440$1,433,608$1,301,516$1,905,279
59$2,133,418$1,469,154$1,310,416$2,031,739
60$2,315,233$1,505,348$1,318,521$2,169,575
61$2,514,465$1,542,189$1,325,770$2,319,922
62$2,732,856$1,579,672$1,332,098$2,484,030
63$2,972,324$1,617,791$1,337,440$2,663,274
64$3,234,979$1,656,542$1,341,722$2,859,173
65$3,523,149$1,695,914$1,344,872$3,073,397
66$3,839,396$1,735,899$1,346,811$3,307,791
67$4,186,541$1,776,486$1,347,456$3,564,385
68$4,567,695$1,817,660$1,346,722$3,845,415
69$4,986,281$1,859,407$1,344,519$4,153,349
70$5,446,072$1,901,708$1,340,751$4,490,904
71$5,951,225$1,944,545$1,335,319$4,861,076
72$6,506,317$1,987,895$1,328,120$5,267,165
73$7,116,393$2,031,734$1,319,043$5,712,810
74$7,787,010$2,076,033$1,307,976$6,202,021
75$8,524,288$2,120,762$1,294,796$6,739,215
76$9,334,974$2,165,888$1,279,380$7,329,264
77$10,226,497$2,211,372$1,261,596$7,977,534
78$11,207,046$2,257,176$1,241,305$8,689,942
79$12,285,640$2,303,253$1,218,364$9,473,005
80$13,472,218$2,349,555$1,192,622$10,333,911
81$14,777,731$2,396,030$1,163,922$11,280,576
82$16,214,243$2,442,619$1,132,097$12,321,729
83$17,795,049$2,489,260$1,096,975$13,466,989
84$19,534,797$2,535,886$1,058,376$14,726,955
85$21,449,625$2,582,423$1,016,110$16,113,311
86$23,557,317$2,628,793$969,981$17,638,933
87$25,877,468$2,674,909$919,780$19,318,011
88$28,431,670$2,720,679$865,293$21,166,185
89$31,243,714$2,766,006$806,294$23,200,691
90$34,339,815$2,810,782$742,546$25,440,525
91$37,748,858$2,854,893$673,804$27,906,624
92$41,502,676$2,898,217$599,811$30,622,058
93$45,636,341$2,940,622$520,296$33,612,258
94$50,188,502$2,981,967$434,981$36,905,247
95$55,201,747$3,022,101$343,570$40,531,911
96$60,723,005$3,060,863$245,760$44,526,287
97$66,803,987$3,098,081$141,228$48,925,889
98$73,501,678$3,133,571$29,643$53,772,057
99$80,878,869$3,167,136$0$59,110,355
100$89,004,754$3,198,566$0$65,014,852