Can I retire at age 53 with 1,220,000?

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 $1,220,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.1%
1 years$100,746$99,849$98,974$98,119$97,285$93,721
2 years$49,874$48,946$48,045$47,173$46,326$42,775
3 years$32,919$31,987$31,089$30,224$29,391$25,965
4 years$24,443$23,513$22,625$21,775$20,962$17,687
5 years$19,359$18,435$17,558$16,725$15,935$12,819
6 years$15,971$15,053$14,189$13,375$12,609$9,655
7 years$13,552$12,642$11,791$10,996$10,254$7,461
8 years$11,738$10,836$10,000$9,225$8,507$5,872
9 years$10,328$9,435$8,613$7,857$7,164$4,684
10 years$9,201$8,317$7,509$6,773$6,104$3,774
11 years$8,279$7,404$6,611$5,895$5,250$3,065
12 years$7,512$6,645$5,867$5,170$4,549$2,505
13 years$6,863$6,005$5,242$4,565$3,967$2,057
14 years$6,307$5,459$4,710$4,052$3,478$1,696
15 years$5,826$4,987$4,252$3,614$3,062$1,403
16 years$5,405$4,575$3,855$3,236$2,706$1,163
17 years$5,034$4,213$3,508$2,907$2,399$967
18 years$4,705$3,893$3,202$2,620$2,133$805
19 years$4,411$3,608$2,932$2,367$1,902$671
20 years$4,146$3,353$2,691$2,144$1,699$560
21 years$3,907$3,123$2,475$1,946$1,520$468
22 years$3,690$2,915$2,281$1,769$1,362$391
23 years$3,493$2,727$2,106$1,611$1,223$327
24 years$3,312$2,555$1,948$1,470$1,099$274
25 years$3,145$2,398$1,804$1,342$989$229
26 years$2,992$2,253$1,673$1,227$891$192
27 years$2,850$2,121$1,554$1,123$803$161
28 years$2,719$1,998$1,444$1,029$725$135
29 years$2,597$1,885$1,344$944$655$113
30 years$2,483$1,780$1,252$866$591$95
31 years$2,377$1,683$1,167$795$535$80
32 years$2,278$1,592$1,089$731$484$67
33 years$2,185$1,508$1,017$672$438$56
34 years$2,097$1,429$950$619$396$47
35 years$2,015$1,356$888$569$359$40
36 years$1,938$1,287$831$524$325$33
37 years$1,864$1,222$778$483$295$28
38 years$1,795$1,161$728$445$267$23
39 years$1,730$1,104$682$411$242$20
40 years$1,668$1,051$640$379$220$16
41 years$1,609$1,000$600$349$199$14
42 years$1,553$953$563$323$181$12
43 years$1,500$908$528$298$164$10
44 years$1,450$865$495$275$149$8
45 years$1,401$825$465$254$135$7
46 years$1,355$787$437$234$123$6
47 years$1,312$751$411$217$112$5
48 years$1,270$717$386$200$101$4
49 years$1,230$685$363$185$92$3
50 years$1,191$654$341$171$84$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $1,220,000, adding $3,654 every year, while hoping to spend $49,593 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: 30/42/28 Blend
52$1,220,000$1,220,000$1,220,000$1,220,000
53$1,348,209$1,283,549$1,264,639$1,376,957
54$1,432,960$1,293,676$1,254,238$1,409,851
55$1,524,693$1,302,638$1,241,826$1,440,636
56$1,624,069$1,310,324$1,227,284$1,472,771
57$1,731,812$1,316,618$1,210,486$1,506,410
58$1,848,721$1,321,396$1,191,302$1,541,724
59$1,975,673$1,324,527$1,169,593$1,578,906
60$2,113,633$1,325,870$1,145,216$1,618,170
61$2,263,662$1,325,277$1,118,020$1,659,760
62$2,426,930$1,322,590$1,087,847$1,703,947
63$2,604,721$1,317,641$1,054,534$1,751,033
64$2,798,449$1,310,252$1,017,908$1,801,358
65$3,009,671$1,300,234$977,788$1,855,301
66$3,240,100$1,287,388$933,986$1,913,288
67$3,491,620$1,271,501$886,305$1,975,789
68$3,766,309$1,252,347$834,539$2,043,333
69$4,066,449$1,229,690$778,473$2,116,508
70$4,394,558$1,203,275$717,883$2,195,969
71$4,753,403$1,172,836$652,532$2,282,447
72$5,146,034$1,138,089$582,176$2,376,753
73$5,575,809$1,098,735$506,559$2,479,791
74$6,046,425$1,054,456$425,412$2,592,568
75$6,561,953$1,004,917$338,455$2,716,199
76$7,126,876$949,762$245,398$2,851,927
77$7,746,134$888,616$145,935$3,001,130
78$8,425,163$821,082$39,748$3,165,340
79$9,169,955$746,741$0$3,346,256
80$9,987,106$665,147$0$3,567,745
81$10,883,884$575,832$0$3,824,017
82$11,868,293$478,301$0$4,105,614
83$12,949,151$372,030$0$4,415,219
84$14,136,171$256,465$0$4,755,797
85$15,440,052$131,024$0$5,130,629
86$16,872,582$0$0$5,543,338
87$18,446,746$0$0$6,000,200
88$20,176,849$0$0$6,569,075
89$22,078,651$0$0$7,194,617
90$24,169,515$0$0$7,882,563
91$26,468,572$0$0$8,639,233
92$28,996,895$0$0$9,471,591
93$31,777,707$0$0$10,387,312
94$34,836,590$0$0$11,394,849
95$38,201,731$0$0$12,503,518
96$41,904,190$0$0$13,723,582
97$45,978,184$0$0$15,066,352
98$50,461,418$0$0$16,544,287
99$55,395,436$0$0$18,171,118
100$60,826,013$0$0$19,961,974