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%12%
1 years$102,398$101,486$100,596$99,727$98,879$98,051
2 years$50,692$49,748$48,833$47,946$47,085$46,250
3 years$33,459$32,511$31,598$30,719$29,873$29,057
4 years$24,844$23,899$22,995$22,132$21,306$20,516
5 years$19,677$18,737$17,845$16,999$16,196$15,434
6 years$16,233$15,300$14,422$13,594$12,815$12,082
7 years$13,774$12,849$11,985$11,177$10,422$9,719
8 years$11,930$11,014$10,164$9,376$8,646$7,972
9 years$10,497$9,590$8,754$7,986$7,282$6,636
10 years$9,352$8,453$7,632$6,884$6,204$5,587
11 years$8,415$7,525$6,719$5,991$5,336$4,747
12 years$7,635$6,754$5,963$5,255$4,624$4,063
13 years$6,975$6,104$5,328$4,640$4,032$3,498
14 years$6,410$5,548$4,787$4,118$3,535$3,027
15 years$5,921$5,068$4,322$3,673$3,112$2,630
16 years$5,494$4,650$3,918$3,289$2,750$2,293
17 years$5,117$4,283$3,566$2,955$2,439$2,006
18 years$4,782$3,957$3,255$2,663$2,168$1,759
19 years$4,483$3,668$2,980$2,406$1,933$1,546
20 years$4,214$3,408$2,735$2,179$1,726$1,361
21 years$3,971$3,174$2,515$1,978$1,545$1,200
22 years$3,751$2,963$2,318$1,798$1,385$1,060
23 years$3,550$2,771$2,141$1,638$1,243$937
24 years$3,366$2,597$1,980$1,494$1,117$830
25 years$3,197$2,437$1,834$1,364$1,005$735
26 years$3,041$2,290$1,701$1,247$906$652
27 years$2,897$2,155$1,579$1,142$817$579
28 years$2,764$2,031$1,468$1,046$737$514
29 years$2,640$1,916$1,366$959$665$457
30 years$2,524$1,810$1,272$880$601$406
31 years$2,416$1,711$1,186$809$543$361
32 years$2,315$1,619$1,107$743$492$322
33 years$2,221$1,533$1,033$683$445$286
34 years$2,132$1,453$966$629$403$255
35 years$2,048$1,378$903$579$365$227
36 years$1,969$1,308$844$533$331$202
37 years$1,895$1,242$790$491$300$180
38 years$1,825$1,180$740$453$272$161
39 years$1,758$1,123$693$417$246$143
40 years$1,695$1,068$650$385$223$128
41 years$1,635$1,017$609$355$203$114
42 years$1,579$968$572$328$184$102
43 years$1,525$922$536$303$167$91
44 years$1,473$879$504$279$152$81
45 years$1,424$839$473$258$138$72
46 years$1,378$800$444$238$125$64
47 years$1,333$763$417$220$113$57
48 years$1,290$729$392$203$103$51
49 years$1,250$696$369$188$94$46
50 years$1,211$665$346$174$85$41

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 $4,286 every year, while hoping to spend $51,969 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: 48/33/19 Blend
52$1,240,000$1,240,000$1,240,000$1,240,000
53$1,370,901$1,305,181$1,285,961$1,429,168
54$1,455,438$1,313,840$1,273,746$1,478,753
55$1,546,857$1,321,182$1,259,380$1,526,955
56$1,645,803$1,327,087$1,242,736$1,578,198
57$1,752,989$1,331,428$1,223,682$1,632,788
58$1,869,196$1,334,070$1,202,077$1,691,066
59$1,995,284$1,334,870$1,177,777$1,753,408
60$2,132,199$1,333,675$1,150,629$1,820,231
61$2,280,982$1,330,323$1,120,473$1,891,999
62$2,442,776$1,324,643$1,087,143$1,969,226
63$2,618,841$1,316,452$1,050,465$2,052,479
64$2,810,562$1,305,558$1,010,254$2,142,389
65$3,019,464$1,291,754$966,322$2,239,655
66$3,247,223$1,274,825$918,468$2,345,048
67$3,495,687$1,254,538$866,484$2,459,426
68$3,766,888$1,230,651$810,152$2,583,736
69$4,063,062$1,202,905$749,244$2,719,027
70$4,386,672$1,171,025$683,521$2,866,461
71$4,740,430$1,134,723$612,737$3,027,323
72$5,127,320$1,093,690$536,629$3,203,034
73$5,550,629$1,047,603$454,929$3,395,168
74$6,013,976$996,118$367,351$3,605,465
75$6,521,345$938,872$273,601$3,835,848
76$7,077,125$875,479$173,370$4,088,446
77$7,686,148$805,535$66,334$4,365,610
78$8,353,738$728,608$0$4,669,943
79$9,085,755$644,246$0$5,014,027
80$9,888,656$551,967$0$5,406,313
81$10,769,551$451,266$0$5,836,925
82$11,736,274$341,607$0$6,309,819
83$12,797,452$222,424$0$6,829,364
84$13,962,588$93,118$0$7,400,378
85$15,242,151$0$0$8,028,181
86$16,647,675$0$0$8,735,687
87$18,191,863$0$0$9,550,287
88$19,888,711$0$0$10,445,568
89$21,753,638$0$0$11,429,685
90$23,803,631$0$0$12,511,620
91$26,057,403$0$0$13,701,269
92$28,535,572$0$0$15,009,537
93$31,260,854$0$0$16,448,436
94$34,258,277$0$0$18,031,203
95$37,555,415$0$0$19,772,420
96$41,182,649$0$0$21,688,156
97$45,173,453$0$0$23,796,113
98$49,564,709$0$0$26,115,799
99$54,397,056$0$0$28,668,705
100$59,715,270$0$0$31,478,515