Can I retire at age 53 with 1,240,000?

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 $1,240,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$102,398$101,486$100,596$99,727$98,879$97,523
2 years$50,692$49,748$48,833$47,946$47,085$45,721
3 years$33,459$32,511$31,598$30,719$29,873$28,543
4 years$24,844$23,899$22,995$22,132$21,306$20,021
5 years$19,677$18,737$17,845$16,999$16,196$14,960
6 years$16,233$15,300$14,422$13,594$12,815$11,629
7 years$13,774$12,849$11,985$11,177$10,422$9,287
8 years$11,930$11,014$10,164$9,376$8,646$7,561
9 years$10,497$9,590$8,754$7,986$7,282$6,246
10 years$9,352$8,453$7,632$6,884$6,204$5,218
11 years$8,415$7,525$6,719$5,991$5,336$4,398
12 years$7,635$6,754$5,963$5,255$4,624$3,733
13 years$6,975$6,104$5,328$4,640$4,032$3,187
14 years$6,410$5,548$4,787$4,118$3,535$2,734
15 years$5,921$5,068$4,322$3,673$3,112$2,355
16 years$5,494$4,650$3,918$3,289$2,750$2,035
17 years$5,117$4,283$3,566$2,955$2,439$1,764
18 years$4,782$3,957$3,255$2,663$2,168$1,532
19 years$4,483$3,668$2,980$2,406$1,933$1,334
20 years$4,214$3,408$2,735$2,179$1,726$1,163
21 years$3,971$3,174$2,515$1,978$1,545$1,016
22 years$3,751$2,963$2,318$1,798$1,385$889
23 years$3,550$2,771$2,141$1,638$1,243$778
24 years$3,366$2,597$1,980$1,494$1,117$682
25 years$3,197$2,437$1,834$1,364$1,005$598
26 years$3,041$2,290$1,701$1,247$906$525
27 years$2,897$2,155$1,579$1,142$817$461
28 years$2,764$2,031$1,468$1,046$737$405
29 years$2,640$1,916$1,366$959$665$357
30 years$2,524$1,810$1,272$880$601$314
31 years$2,416$1,711$1,186$809$543$276
32 years$2,315$1,619$1,107$743$492$243
33 years$2,221$1,533$1,033$683$445$214
34 years$2,132$1,453$966$629$403$189
35 years$2,048$1,378$903$579$365$166
36 years$1,969$1,308$844$533$331$146
37 years$1,895$1,242$790$491$300$129
38 years$1,825$1,180$740$453$272$114
39 years$1,758$1,123$693$417$246$100
40 years$1,695$1,068$650$385$223$88
41 years$1,635$1,017$609$355$203$78
42 years$1,579$968$572$328$184$69
43 years$1,525$922$536$303$167$61
44 years$1,473$879$504$279$152$54
45 years$1,424$839$473$258$138$47
46 years$1,378$800$444$238$125$42
47 years$1,333$763$417$220$113$37
48 years$1,290$729$392$203$103$32
49 years$1,250$696$369$188$94$29
50 years$1,211$665$346$174$85$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $1,240,000, adding $3,794 every year, while hoping to spend $24,886 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: 45/34/21 Blend
52$1,240,000$1,240,000$1,240,000$1,240,000
53$1,370,394$1,304,674$1,285,454$1,423,619
54$1,483,695$1,342,124$1,302,038$1,498,877
55$1,607,719$1,380,575$1,318,343$1,577,692
56$1,743,534$1,420,051$1,334,335$1,662,652
57$1,892,314$1,460,573$1,349,975$1,754,341
58$2,055,354$1,502,165$1,365,223$1,853,400
59$2,234,080$1,544,851$1,380,038$1,960,536
60$2,430,063$1,588,655$1,394,375$2,076,526
61$2,645,030$1,633,600$1,408,188$2,202,226
62$2,880,888$1,679,712$1,421,428$2,338,580
63$3,139,735$1,727,014$1,434,042$2,486,625
64$3,423,882$1,775,531$1,445,975$2,647,504
65$3,735,874$1,825,288$1,457,172$2,822,476
66$4,078,516$1,876,310$1,467,570$3,012,928
67$4,454,897$1,928,622$1,477,106$3,220,387
68$4,868,421$1,982,249$1,485,714$3,446,536
69$5,322,837$2,037,216$1,493,322$3,693,226
70$5,822,275$2,093,549$1,499,857$3,962,500
71$6,371,286$2,151,271$1,505,241$4,256,605
72$6,974,883$2,210,409$1,509,393$4,578,020
73$7,638,589$2,270,987$1,512,225$4,929,474
74$8,368,489$2,333,030$1,513,649$5,313,974
75$9,171,289$2,396,562$1,513,570$5,734,832
76$10,054,374$2,461,608$1,511,889$6,195,700
77$11,025,884$2,528,190$1,508,501$6,700,598
78$12,094,786$2,596,333$1,503,297$7,253,960
79$13,270,960$2,666,059$1,496,163$7,860,667
80$14,565,292$2,737,391$1,486,979$8,526,100
81$15,989,779$2,810,350$1,475,620$9,256,189
82$17,557,636$2,884,956$1,461,953$10,057,466
83$19,283,427$2,961,231$1,445,840$10,937,132
84$21,183,198$3,039,193$1,427,137$11,903,118
85$23,274,631$3,118,860$1,405,693$12,964,166
86$25,577,208$3,200,250$1,381,349$14,129,911
87$28,112,399$3,283,377$1,353,940$15,410,968
88$30,903,858$3,368,257$1,323,291$16,819,035
89$33,977,651$3,454,901$1,289,221$18,367,004
90$37,362,502$3,543,322$1,251,540$20,069,082
91$41,090,060$3,633,527$1,210,049$21,940,923
92$45,195,201$3,725,525$1,164,541$23,999,781
93$49,716,356$3,819,321$1,114,798$26,264,667
94$54,695,874$3,914,917$1,060,593$28,756,535
95$60,180,418$4,012,313$1,001,688$31,498,474
96$66,221,411$4,111,507$937,835$34,515,930
97$72,875,517$4,212,493$868,775$37,836,944
98$80,205,177$4,315,262$794,236$41,492,419
99$88,279,197$4,419,802$713,935$45,516,410
100$97,173,400$4,526,097$627,576$49,946,448