Can I retire at age 53 with 1,320,000?

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 $1,320,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.6%
1 years$109,004$108,033$107,086$106,161$105,259$102,423
2 years$53,963$52,958$51,984$51,039$50,123$47,287
3 years$35,618$34,608$33,637$32,701$31,800$29,052
4 years$26,447$25,441$24,479$23,559$22,680$20,041
5 years$20,946$19,946$18,997$18,096$17,241$14,718
6 years$17,280$16,287$15,352$14,471$13,642$11,238
7 years$14,662$13,678$12,758$11,898$11,095$8,809
8 years$12,700$11,725$10,820$9,981$9,204$7,036
9 years$11,175$10,208$9,319$8,501$7,751$5,698
10 years$9,955$8,998$8,124$7,328$6,604$4,665
11 years$8,958$8,011$7,153$6,378$5,680$3,850
12 years$8,127$7,190$6,348$5,594$4,922$3,199
13 years$7,425$6,498$5,671$4,939$4,292$2,672
14 years$6,824$5,906$5,096$4,384$3,763$2,241
15 years$6,303$5,395$4,601$3,910$3,313$1,887
16 years$5,848$4,950$4,171$3,501$2,928$1,593
17 years$5,447$4,559$3,796$3,146$2,596$1,348
18 years$5,091$4,213$3,465$2,835$2,308$1,143
19 years$4,772$3,904$3,172$2,561$2,057$971
20 years$4,486$3,628$2,911$2,320$1,838$826
21 years$4,228$3,379$2,678$2,105$1,645$704
22 years$3,993$3,154$2,468$1,914$1,474$600
23 years$3,779$2,950$2,279$1,743$1,323$512
24 years$3,583$2,764$2,107$1,590$1,189$437
25 years$3,403$2,594$1,952$1,452$1,070$374
26 years$3,237$2,438$1,810$1,328$964$319
27 years$3,084$2,294$1,681$1,215$869$273
28 years$2,942$2,162$1,563$1,114$784$234
29 years$2,810$2,040$1,454$1,021$708$200
30 years$2,687$1,926$1,355$937$640$171
31 years$2,572$1,821$1,263$861$579$147
32 years$2,465$1,723$1,178$791$523$126
33 years$2,364$1,632$1,100$727$474$108
34 years$2,269$1,546$1,028$669$429$92
35 years$2,180$1,467$961$616$388$79
36 years$2,096$1,392$899$567$352$68
37 years$2,017$1,322$841$523$319$58
38 years$1,943$1,257$788$482$289$50
39 years$1,872$1,195$738$444$262$43
40 years$1,805$1,137$692$410$238$37
41 years$1,741$1,082$649$378$216$31
42 years$1,681$1,031$609$349$196$27
43 years$1,623$982$571$322$178$23
44 years$1,568$936$536$297$161$20
45 years$1,516$893$503$275$146$17
46 years$1,466$852$473$254$133$15
47 years$1,419$813$444$234$121$12
48 years$1,374$776$417$217$110$11
49 years$1,330$741$392$200$100$9
50 years$1,289$708$369$185$90$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $1,320,000, adding $2,601 every year, while hoping to spend $33,099 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: 66/13/21 Blend
52$1,320,000$1,320,000$1,320,000$1,320,000
53$1,457,323$1,387,363$1,366,903$1,545,584
54$1,570,753$1,420,127$1,377,477$1,637,906
55$1,694,643$1,453,386$1,387,296$1,734,770
56$1,830,026$1,487,132$1,396,300$1,839,885
57$1,978,038$1,521,350$1,404,425$1,954,062
58$2,139,929$1,556,028$1,411,605$2,078,195
59$2,317,077$1,591,149$1,417,769$2,213,267
60$2,510,999$1,626,695$1,422,844$2,360,364
61$2,723,365$1,662,647$1,426,754$2,520,681
62$2,956,014$1,698,983$1,429,416$2,695,535
63$3,210,972$1,735,677$1,430,745$2,886,378
64$3,490,468$1,772,702$1,430,652$3,094,809
65$3,796,961$1,810,029$1,429,044$3,322,590
66$4,133,155$1,847,625$1,425,821$3,571,665
67$4,502,032$1,885,453$1,420,881$3,844,172
68$4,906,873$1,923,475$1,414,115$4,142,473
69$5,351,297$1,961,648$1,405,410$4,469,165
70$5,839,284$1,999,924$1,394,647$4,827,115
71$6,375,225$2,038,254$1,381,701$5,219,479
72$6,963,952$2,076,582$1,366,442$5,649,739
73$7,610,790$2,114,850$1,348,733$6,121,729
74$8,321,607$2,152,993$1,328,431$6,639,677
75$9,102,863$2,190,943$1,305,387$7,208,241
76$9,961,680$2,228,624$1,279,442$7,832,555
77$10,905,902$2,265,957$1,250,434$8,518,279
78$11,944,171$2,302,855$1,218,190$9,271,649
79$13,086,007$2,339,227$1,182,530$10,099,538
80$14,341,902$2,374,971$1,143,268$11,009,524
81$15,723,414$2,409,983$1,100,205$12,009,954
82$17,243,277$2,444,147$1,053,137$13,110,031
83$18,915,523$2,477,341$1,001,848$14,319,897
84$20,755,611$2,509,435$946,114$15,650,731
85$22,780,574$2,540,289$885,701$17,114,850
86$25,009,183$2,569,753$820,362$18,725,833
87$27,462,117$2,597,668$749,841$20,498,644
88$30,162,163$2,623,864$673,871$22,449,775
89$33,134,430$2,648,160$592,172$24,597,403
90$36,406,583$2,670,361$504,451$26,961,559
91$40,009,108$2,690,262$410,403$29,564,323
92$43,975,595$2,707,643$309,710$32,430,027
93$48,343,059$2,722,271$202,038$35,585,488
94$53,152,286$2,733,897$87,042$39,060,263
95$58,448,218$2,742,257$0$42,886,923
96$64,280,380$2,747,071$0$47,109,364
97$70,703,340$2,748,039$0$51,780,487
98$77,777,233$2,744,845$0$56,924,462
99$85,568,321$2,737,153$0$62,589,435
100$94,149,621$2,724,604$0$68,828,464