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%17%
1 years$100,746$99,849$98,974$98,119$97,285$94,511
2 years$49,874$48,946$48,045$47,173$46,326$43,554
3 years$32,919$31,987$31,089$30,224$29,391$26,706
4 years$24,443$23,513$22,625$21,775$20,962$18,386
5 years$19,359$18,435$17,558$16,725$15,935$13,474
6 years$15,971$15,053$14,189$13,375$12,609$10,265
7 years$13,552$12,642$11,791$10,996$10,254$8,028
8 years$11,738$10,836$10,000$9,225$8,507$6,397
9 years$10,328$9,435$8,613$7,857$7,164$5,169
10 years$9,201$8,317$7,509$6,773$6,104$4,221
11 years$8,279$7,404$6,611$5,895$5,250$3,475
12 years$7,512$6,645$5,867$5,170$4,549$2,879
13 years$6,863$6,005$5,242$4,565$3,967$2,399
14 years$6,307$5,459$4,710$4,052$3,478$2,006
15 years$5,826$4,987$4,252$3,614$3,062$1,684
16 years$5,405$4,575$3,855$3,236$2,706$1,418
17 years$5,034$4,213$3,508$2,907$2,399$1,197
18 years$4,705$3,893$3,202$2,620$2,133$1,012
19 years$4,411$3,608$2,932$2,367$1,902$857
20 years$4,146$3,353$2,691$2,144$1,699$727
21 years$3,907$3,123$2,475$1,946$1,520$617
22 years$3,690$2,915$2,281$1,769$1,362$525
23 years$3,493$2,727$2,106$1,611$1,223$446
24 years$3,312$2,555$1,948$1,470$1,099$380
25 years$3,145$2,398$1,804$1,342$989$324
26 years$2,992$2,253$1,673$1,227$891$276
27 years$2,850$2,121$1,554$1,123$803$235
28 years$2,719$1,998$1,444$1,029$725$201
29 years$2,597$1,885$1,344$944$655$171
30 years$2,483$1,780$1,252$866$591$146
31 years$2,377$1,683$1,167$795$535$125
32 years$2,278$1,592$1,089$731$484$106
33 years$2,185$1,508$1,017$672$438$91
34 years$2,097$1,429$950$619$396$78
35 years$2,015$1,356$888$569$359$66
36 years$1,938$1,287$831$524$325$57
37 years$1,864$1,222$778$483$295$48
38 years$1,795$1,161$728$445$267$41
39 years$1,730$1,104$682$411$242$35
40 years$1,668$1,051$640$379$220$30
41 years$1,609$1,000$600$349$199$26
42 years$1,553$953$563$323$181$22
43 years$1,500$908$528$298$164$19
44 years$1,450$865$495$275$149$16
45 years$1,401$825$465$254$135$14
46 years$1,355$787$437$234$123$12
47 years$1,312$751$411$217$112$10
48 years$1,270$717$386$200$101$9
49 years$1,230$685$363$185$92$7
50 years$1,191$654$341$171$84$6

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 $3,652 every year, while hoping to spend $35,150 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: 42/29/29 Blend
52$1,220,000$1,220,000$1,220,000$1,220,000
53$1,348,207$1,283,547$1,264,637$1,393,251
54$1,448,325$1,309,042$1,269,603$1,451,582
55$1,557,477$1,334,607$1,273,557$1,511,143
56$1,676,547$1,360,210$1,276,429$1,574,984
57$1,806,508$1,385,815$1,278,143$1,643,522
58$1,948,433$1,411,380$1,278,622$1,717,218
59$2,103,501$1,436,865$1,277,783$1,796,580
60$2,273,009$1,462,223$1,275,541$1,882,169
61$2,458,389$1,487,405$1,271,804$1,974,605
62$2,661,213$1,512,357$1,266,478$2,074,573
63$2,883,216$1,537,021$1,259,464$2,182,826
64$3,126,306$1,561,337$1,250,658$2,300,199
65$3,392,584$1,585,238$1,239,950$2,427,613
66$3,684,366$1,608,652$1,227,226$2,566,081
67$4,004,200$1,631,505$1,212,367$2,716,726
68$4,354,894$1,653,715$1,195,248$2,880,784
69$4,739,541$1,675,194$1,175,736$3,059,621
70$5,161,545$1,695,850$1,153,694$3,254,745
71$5,624,659$1,715,583$1,128,979$3,467,817
72$6,133,015$1,734,287$1,101,440$3,700,674
73$6,691,164$1,751,848$1,070,920$3,955,340
74$7,304,120$1,768,146$1,037,253$4,234,050
75$7,977,408$1,783,053$1,000,269$4,539,271
76$8,717,111$1,796,430$959,785$4,873,722
77$9,529,933$1,808,132$915,615$5,240,405
78$10,423,259$1,818,003$867,561$5,642,633
79$11,405,224$1,825,878$815,417$6,084,059
80$12,484,792$1,831,581$758,968$6,568,713
81$13,671,837$1,834,925$697,990$7,101,042
82$14,977,238$1,835,710$632,247$7,685,951
83$16,412,984$1,833,727$561,494$8,328,850
84$17,992,279$1,828,751$485,475$9,035,706
85$19,729,676$1,820,544$403,923$9,813,103
86$21,641,205$1,808,853$316,557$10,668,300
87$23,744,533$1,793,411$223,086$11,609,304
88$26,059,121$1,773,935$123,205$12,644,946
89$28,606,416$1,750,122$16,597$13,784,966
90$31,410,047$1,721,654$0$15,040,103
91$34,496,050$1,688,193$0$16,452,270
92$37,893,114$1,649,382$0$18,011,896
93$41,632,850$1,604,840$0$19,728,354
94$45,750,090$1,554,167$0$21,617,642
95$50,283,216$1,496,938$0$23,697,395
96$55,274,519$1,432,702$0$25,987,050
97$60,770,601$1,360,986$0$28,508,030
98$66,822,812$1,281,285$0$31,283,949
99$73,487,739$1,193,067$0$34,340,832
100$80,827,731$1,095,770$0$37,707,367