Can I retire at age 53 with 1,420,000?

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 $1,420,000?

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$117,262$116,218$115,199$114,204$113,233$110,183
2 years$58,051$56,969$55,922$54,906$53,920$50,869
3 years$38,316$37,230$36,185$35,179$34,209$31,253
4 years$28,451$27,368$26,333$25,344$24,398$21,559
5 years$22,533$21,457$20,436$19,467$18,547$15,833
6 years$18,589$17,521$16,515$15,568$14,676$12,089
7 years$15,773$14,714$13,724$12,799$11,935$9,476
8 years$13,662$12,613$11,639$10,737$9,902$7,569
9 years$12,021$10,982$10,025$9,145$8,339$6,130
10 years$10,709$9,680$8,740$7,883$7,105$5,018
11 years$9,636$8,617$7,694$6,861$6,110$4,142
12 years$8,743$7,735$6,829$6,018$5,295$3,441
13 years$7,988$6,990$6,101$5,313$4,617$2,874
14 years$7,341$6,354$5,482$4,716$4,048$2,411
15 years$6,781$5,804$4,949$4,206$3,564$2,030
16 years$6,291$5,325$4,487$3,766$3,150$1,714
17 years$5,860$4,904$4,083$3,384$2,793$1,450
18 years$5,476$4,532$3,727$3,049$2,483$1,230
19 years$5,134$4,200$3,412$2,755$2,213$1,045
20 years$4,826$3,903$3,132$2,496$1,977$889
21 years$4,548$3,635$2,880$2,265$1,769$757
22 years$4,295$3,393$2,655$2,059$1,586$646
23 years$4,065$3,174$2,451$1,875$1,424$551
24 years$3,855$2,974$2,267$1,711$1,280$470
25 years$3,661$2,791$2,100$1,562$1,151$402
26 years$3,483$2,623$1,947$1,428$1,037$344
27 years$3,318$2,468$1,808$1,307$935$294
28 years$3,165$2,326$1,681$1,198$844$252
29 years$3,023$2,194$1,564$1,098$762$215
30 years$2,891$2,072$1,457$1,008$688$184
31 years$2,767$1,959$1,358$926$622$158
32 years$2,651$1,854$1,267$851$563$135
33 years$2,543$1,755$1,183$782$509$116
34 years$2,441$1,664$1,106$720$461$99
35 years$2,346$1,578$1,034$663$418$85
36 years$2,255$1,498$967$610$379$73
37 years$2,170$1,422$905$562$343$62
38 years$2,090$1,352$848$518$311$54
39 years$2,014$1,285$794$478$282$46
40 years$1,941$1,223$744$441$256$39
41 years$1,873$1,164$698$407$232$34
42 years$1,808$1,109$655$375$211$29
43 years$1,746$1,056$614$347$191$25
44 years$1,687$1,007$577$320$173$21
45 years$1,631$960$541$295$158$18
46 years$1,578$916$509$273$143$16
47 years$1,527$874$478$252$130$13
48 years$1,478$835$449$233$118$12
49 years$1,431$797$422$215$107$10
50 years$1,386$761$397$199$97$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $1,420,000, adding $4,414 every year, while hoping to spend $38,505 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: 43/28/29 Blend
52$1,420,000$1,420,000$1,420,000$1,420,000
53$1,569,393$1,494,133$1,472,123$1,623,440
54$1,688,502$1,526,377$1,480,470$1,694,917
55$1,818,470$1,558,909$1,487,806$1,768,345
56$1,960,363$1,591,705$1,494,057$1,847,178
57$2,115,356$1,624,735$1,499,144$1,931,942
58$2,284,742$1,657,967$1,502,985$2,023,214
59$2,469,945$1,691,366$1,505,494$2,121,635
60$2,672,531$1,724,895$1,506,580$2,227,907
61$2,894,227$1,758,512$1,506,148$2,342,809
62$3,136,932$1,792,173$1,504,098$2,467,198
63$3,402,739$1,825,830$1,500,325$2,602,019
64$3,693,952$1,859,429$1,494,720$2,748,317
65$4,013,109$1,892,915$1,487,167$2,907,243
66$4,363,005$1,926,227$1,477,546$3,080,068
67$4,746,718$1,959,299$1,465,731$3,268,193
68$5,167,639$1,992,060$1,451,588$3,473,164
69$5,629,501$2,024,434$1,434,979$3,696,687
70$6,136,418$2,056,339$1,415,759$3,940,644
71$6,692,921$2,087,688$1,393,775$4,207,110
72$7,304,001$2,118,386$1,368,868$4,498,375
73$7,975,156$2,148,334$1,340,872$4,816,965
74$8,712,442$2,177,422$1,309,611$5,165,667
75$9,522,531$2,205,536$1,274,904$5,547,553
76$10,412,775$2,232,553$1,236,558$5,966,012
77$11,391,270$2,258,340$1,194,375$6,424,785
78$12,466,937$2,282,757$1,148,145$6,927,994
79$13,649,607$2,305,654$1,097,649$7,480,188
80$14,950,106$2,326,870$1,042,660$8,086,382
81$16,380,366$2,346,236$982,938$8,752,108
82$17,953,531$2,363,569$918,234$9,483,467
83$19,684,083$2,378,676$848,287$10,287,186
84$21,587,980$2,391,351$772,825$11,170,686
85$23,682,801$2,401,375$691,562$12,142,146
86$25,987,919$2,408,515$604,202$13,210,591
87$28,524,678$2,412,523$510,433$14,385,967
88$31,316,594$2,413,136$409,932$15,679,244
89$34,389,582$2,410,074$302,360$17,102,519
90$37,772,193$2,403,042$187,363$18,669,129
91$41,495,889$2,391,723$64,572$20,393,778
92$45,595,337$2,375,785$0$22,292,680
93$50,108,734$2,354,871$0$24,404,280
94$55,078,172$2,328,607$0$26,750,378
95$60,550,031$2,296,594$0$29,332,833
96$66,575,417$2,258,410$0$32,175,738
97$73,210,645$2,213,607$0$35,305,644
98$80,517,768$2,161,712$0$38,751,816
99$88,565,167$2,102,222$0$42,546,509
100$97,428,190$2,034,607$0$46,725,270