Can I retire at age 53 with 1,230,000?

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 $1,230,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.2%
1 years$101,572$100,667$99,785$98,923$98,082$95,594
2 years$50,283$49,347$48,439$47,559$46,706$44,216
3 years$33,189$32,249$31,343$30,472$29,632$27,217
4 years$24,644$23,706$22,810$21,953$21,134$18,813
5 years$19,518$18,586$17,701$16,862$16,066$13,845
6 years$16,102$15,177$14,305$13,485$12,712$10,595
7 years$13,663$12,745$11,888$11,087$10,338$8,324
8 years$11,834$10,925$10,082$9,300$8,577$6,664
9 years$10,413$9,512$8,683$7,922$7,223$5,410
10 years$9,276$8,385$7,570$6,829$6,154$4,440
11 years$8,347$7,464$6,665$5,943$5,293$3,674
12 years$7,573$6,700$5,915$5,213$4,587$3,061
13 years$6,919$6,055$5,285$4,602$4,000$2,563
14 years$6,359$5,503$4,748$4,085$3,506$2,156
15 years$5,873$5,027$4,287$3,643$3,087$1,820
16 years$5,449$4,613$3,887$3,262$2,728$1,541
17 years$5,076$4,248$3,537$2,931$2,419$1,308
18 years$4,744$3,925$3,229$2,641$2,151$1,113
19 years$4,447$3,638$2,956$2,387$1,917$948
20 years$4,180$3,381$2,713$2,162$1,712$809
21 years$3,939$3,149$2,495$1,962$1,532$691
22 years$3,721$2,939$2,300$1,784$1,374$591
23 years$3,521$2,749$2,123$1,625$1,233$506
24 years$3,339$2,576$1,964$1,482$1,108$434
25 years$3,171$2,417$1,819$1,353$997$372
26 years$3,017$2,272$1,687$1,237$898$319
27 years$2,874$2,138$1,566$1,132$810$274
28 years$2,741$2,015$1,456$1,038$731$235
29 years$2,618$1,901$1,355$951$660$202
30 years$2,504$1,795$1,262$873$596$173
31 years$2,397$1,697$1,177$802$539$149
32 years$2,297$1,606$1,098$737$488$128
33 years$2,203$1,520$1,025$678$441$110
34 years$2,115$1,441$958$624$400$95
35 years$2,032$1,367$895$574$362$81
36 years$1,954$1,297$838$529$328$70
37 years$1,880$1,232$784$487$297$60
38 years$1,810$1,171$734$449$269$52
39 years$1,744$1,113$688$414$244$44
40 years$1,682$1,059$645$382$222$38
41 years$1,622$1,008$605$352$201$33
42 years$1,566$960$567$325$182$28
43 years$1,512$915$532$300$166$24
44 years$1,461$872$500$277$150$21
45 years$1,413$832$469$256$136$18
46 years$1,366$793$441$236$124$16
47 years$1,322$757$414$218$112$13
48 years$1,280$723$389$202$102$11
49 years$1,240$690$366$187$93$10
50 years$1,201$659$344$172$84$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $1,230,000, adding $5,882 every year, while hoping to spend $48,246 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: 57/23/20 Blend
52$1,230,000$1,230,000$1,230,000$1,230,000
53$1,361,527$1,296,337$1,277,272$1,431,547
54$1,449,070$1,308,524$1,268,728$1,492,079
55$1,543,924$1,319,692$1,258,280$1,552,319
56$1,646,786$1,329,738$1,245,814$1,616,905
57$1,758,420$1,338,557$1,231,210$1,686,266
58$1,879,665$1,346,033$1,214,342$1,760,878
59$2,011,447$1,352,044$1,195,078$1,841,263
60$2,154,782$1,356,462$1,173,281$1,928,002
61$2,310,790$1,359,149$1,148,806$2,021,734
62$2,480,702$1,359,958$1,121,502$2,123,167
63$2,665,872$1,358,734$1,091,211$2,233,081
64$2,867,792$1,355,313$1,057,767$2,352,339
65$3,088,103$1,349,520$1,020,998$2,481,895
66$3,328,611$1,341,168$980,723$2,622,801
67$3,591,304$1,330,060$936,753$2,776,220
68$3,878,373$1,315,989$888,890$2,943,435
69$4,192,226$1,298,732$836,927$3,125,864
70$4,535,518$1,278,054$780,648$3,325,074
71$4,911,169$1,253,707$719,829$3,542,792
72$5,322,397$1,225,428$654,232$3,780,927
73$5,772,745$1,192,937$583,612$4,041,587
74$6,266,113$1,155,939$507,711$4,327,098
75$6,806,798$1,114,121$426,261$4,640,028
76$7,399,531$1,067,153$338,980$4,983,211
77$8,049,524$1,014,685$245,577$5,359,775
78$8,762,517$956,345$145,745$5,773,174
79$9,544,830$891,743$39,164$6,227,219
80$10,403,429$820,464$0$6,726,115
81$11,345,983$742,071$0$7,290,418
82$12,380,942$656,101$0$7,919,287
83$13,517,613$562,065$0$8,610,085
84$14,766,250$459,447$0$9,369,125
85$16,138,148$347,700$0$10,203,373
86$17,645,750$226,248$0$11,120,503
87$19,302,765$94,483$0$12,128,980
88$21,124,296$0$0$13,238,134
89$23,126,981$0$0$14,470,462
90$25,329,152$0$0$15,851,953
91$27,751,007$0$0$17,371,381
92$30,414,796$0$0$19,042,719
93$33,345,038$0$0$20,881,367
94$36,568,744$0$0$22,904,290
95$40,115,676$0$0$25,130,181
96$44,018,630$0$0$27,579,638
97$48,313,735$0$0$30,275,353
98$53,040,806$0$0$33,242,334
99$58,243,708$0$0$36,508,131
100$63,970,778$0$0$40,103,105