Can I retire at age 53 with 1,340,000?

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 $1,340,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.9%
1 years$110,656$109,670$108,709$107,770$106,853$102,614
2 years$54,780$53,760$52,771$51,813$50,883$46,664
3 years$36,157$35,133$34,146$33,197$32,282$28,217
4 years$26,848$25,826$24,850$23,916$23,024$19,143
5 years$21,263$20,248$19,285$18,370$17,502$13,816
6 years$17,542$16,534$15,585$14,691$13,849$10,360
7 years$14,885$13,885$12,951$12,078$11,263$7,969
8 years$12,893$11,902$10,983$10,132$9,344$6,242
9 years$11,344$10,363$9,460$8,630$7,869$4,955
10 years$10,106$9,135$8,248$7,439$6,705$3,973
11 years$9,093$8,132$7,261$6,474$5,766$3,210
12 years$8,250$7,299$6,444$5,679$4,997$2,609
13 years$7,538$6,596$5,757$5,014$4,357$2,131
14 years$6,927$5,996$5,173$4,451$3,820$1,747
15 years$6,399$5,477$4,670$3,969$3,363$1,436
16 years$5,937$5,025$4,234$3,554$2,972$1,184
17 years$5,529$4,628$3,853$3,193$2,635$978
18 years$5,168$4,276$3,517$2,878$2,343$809
19 years$4,845$3,963$3,220$2,600$2,089$671
20 years$4,554$3,683$2,955$2,355$1,866$556
21 years$4,292$3,430$2,718$2,137$1,670$462
22 years$4,053$3,202$2,505$1,943$1,496$384
23 years$3,836$2,995$2,313$1,770$1,343$319
24 years$3,637$2,806$2,139$1,614$1,207$265
25 years$3,455$2,633$1,981$1,474$1,086$221
26 years$3,286$2,475$1,838$1,348$979$184
27 years$3,131$2,329$1,706$1,234$882$153
28 years$2,987$2,195$1,586$1,130$796$128
29 years$2,853$2,071$1,476$1,037$719$106
30 years$2,728$1,955$1,375$951$650$89
31 years$2,611$1,849$1,282$874$587$74
32 years$2,502$1,749$1,196$803$531$62
33 years$2,400$1,656$1,117$738$481$51
34 years$2,304$1,570$1,043$679$435$43
35 years$2,213$1,489$976$625$394$36
36 years$2,128$1,413$913$576$357$30
37 years$2,048$1,342$854$531$324$25
38 years$1,972$1,276$800$489$294$21
39 years$1,900$1,213$749$451$266$17
40 years$1,832$1,154$702$416$241$14
41 years$1,767$1,099$659$384$219$12
42 years$1,706$1,046$618$354$199$10
43 years$1,648$997$580$327$180$8
44 years$1,592$950$544$302$164$7
45 years$1,539$906$511$279$149$6
46 years$1,489$864$480$258$135$5
47 years$1,441$825$451$238$123$4
48 years$1,394$788$424$220$111$3
49 years$1,350$752$398$203$101$3
50 years$1,308$718$374$188$92$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $1,340,000, adding $4,757 every year, while hoping to spend $44,054 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: 30/41/29 Blend
52$1,340,000$1,340,000$1,340,000$1,340,000
53$1,481,587$1,410,567$1,389,797$1,512,730
54$1,585,836$1,432,812$1,389,482$1,559,795
55$1,699,241$1,454,670$1,387,680$1,606,237
56$1,822,691$1,476,076$1,384,295$1,655,334
57$1,957,162$1,496,960$1,379,225$1,707,347
58$2,103,728$1,517,247$1,372,365$1,762,569
59$2,263,573$1,536,856$1,363,603$1,821,323
60$2,437,998$1,555,703$1,352,824$1,883,966
61$2,628,435$1,573,694$1,339,906$1,950,898
62$2,836,463$1,590,732$1,324,720$2,022,560
63$3,063,817$1,606,713$1,307,133$2,099,439
64$3,312,410$1,621,525$1,287,005$2,182,080
65$3,584,345$1,635,049$1,264,189$2,271,082
66$3,881,941$1,647,159$1,238,532$2,367,111
67$4,207,750$1,657,721$1,209,874$2,470,906
68$4,564,581$1,666,590$1,178,045$2,583,283
69$4,955,530$1,673,614$1,142,872$2,705,147
70$5,384,004$1,678,632$1,104,168$2,837,501
71$5,853,758$1,681,470$1,061,743$2,981,453
72$6,368,925$1,681,946$1,015,395$3,138,232
73$6,934,059$1,679,865$964,914$3,309,196
74$7,554,175$1,675,020$910,081$3,495,849
75$8,234,797$1,667,192$850,665$3,699,854
76$8,982,011$1,656,149$786,426$3,923,051
77$9,802,519$1,641,643$717,115$4,167,475
78$10,703,706$1,623,414$642,468$4,435,377
79$11,693,705$1,601,183$562,213$4,729,243
80$12,781,479$1,574,657$476,063$5,051,826
81$13,976,899$1,543,524$383,720$5,406,165
82$15,290,840$1,507,454$284,872$5,795,621
83$16,735,285$1,466,098$179,194$6,223,907
84$18,323,434$1,419,087$66,347$6,695,126
85$20,069,830$1,366,028$0$7,213,814
86$21,990,496$1,306,507$0$7,801,712
87$24,103,088$1,240,087$0$8,470,614
88$26,427,055$1,166,303$0$9,206,201
89$28,983,828$1,084,665$0$10,015,344
90$31,797,020$994,656$0$10,905,627
91$34,892,648$895,726$0$11,885,414
92$38,299,379$787,298$0$12,963,932
93$42,048,799$668,758$0$14,151,359
94$46,175,710$539,461$0$15,458,922
95$50,718,461$398,723$0$16,899,004
96$55,719,306$245,823$0$18,485,262
97$61,224,806$79,999$0$20,232,762
98$67,286,264$0$0$22,158,115
99$73,960,212$0$0$24,324,561
100$81,308,940$0$0$26,750,060