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%17%
1 years$117,262$116,218$115,199$114,204$113,233$110,005
2 years$58,051$56,969$55,922$54,906$53,920$50,694
3 years$38,316$37,230$36,185$35,179$34,209$31,085
4 years$28,451$27,368$26,333$25,344$24,398$21,400
5 years$22,533$21,457$20,436$19,467$18,547$15,683
6 years$18,589$17,521$16,515$15,568$14,676$11,948
7 years$15,773$14,714$13,724$12,799$11,935$9,345
8 years$13,662$12,613$11,639$10,737$9,902$7,446
9 years$12,021$10,982$10,025$9,145$8,339$6,016
10 years$10,709$9,680$8,740$7,883$7,105$4,912
11 years$9,636$8,617$7,694$6,861$6,110$4,044
12 years$8,743$7,735$6,829$6,018$5,295$3,351
13 years$7,988$6,990$6,101$5,313$4,617$2,792
14 years$7,341$6,354$5,482$4,716$4,048$2,335
15 years$6,781$5,804$4,949$4,206$3,564$1,961
16 years$6,291$5,325$4,487$3,766$3,150$1,651
17 years$5,860$4,904$4,083$3,384$2,793$1,393
18 years$5,476$4,532$3,727$3,049$2,483$1,178
19 years$5,134$4,200$3,412$2,755$2,213$997
20 years$4,826$3,903$3,132$2,496$1,977$846
21 years$4,548$3,635$2,880$2,265$1,769$718
22 years$4,295$3,393$2,655$2,059$1,586$611
23 years$4,065$3,174$2,451$1,875$1,424$519
24 years$3,855$2,974$2,267$1,711$1,280$442
25 years$3,661$2,791$2,100$1,562$1,151$377
26 years$3,483$2,623$1,947$1,428$1,037$321
27 years$3,318$2,468$1,808$1,307$935$274
28 years$3,165$2,326$1,681$1,198$844$233
29 years$3,023$2,194$1,564$1,098$762$199
30 years$2,891$2,072$1,457$1,008$688$170
31 years$2,767$1,959$1,358$926$622$145
32 years$2,651$1,854$1,267$851$563$124
33 years$2,543$1,755$1,183$782$509$106
34 years$2,441$1,664$1,106$720$461$90
35 years$2,346$1,578$1,034$663$418$77
36 years$2,255$1,498$967$610$379$66
37 years$2,170$1,422$905$562$343$56
38 years$2,090$1,352$848$518$311$48
39 years$2,014$1,285$794$478$282$41
40 years$1,941$1,223$744$441$256$35
41 years$1,873$1,164$698$407$232$30
42 years$1,808$1,109$655$375$211$26
43 years$1,746$1,056$614$347$191$22
44 years$1,687$1,007$577$320$173$19
45 years$1,631$960$541$295$158$16
46 years$1,578$916$509$273$143$14
47 years$1,527$874$478$252$130$12
48 years$1,478$835$449$233$118$10
49 years$1,431$797$422$215$107$9
50 years$1,386$761$397$199$97$7

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 $6,687 every year, while hoping to spend $39,120 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: 38/39/23 Blend
52$1,420,000$1,420,000$1,420,000$1,420,000
53$1,571,738$1,496,478$1,474,468$1,620,441
54$1,690,432$1,528,182$1,482,239$1,688,145
55$1,819,921$1,560,128$1,488,959$1,757,123
56$1,961,266$1,592,287$1,494,553$1,830,887
57$2,115,633$1,624,627$1,498,938$1,909,895
58$2,284,307$1,657,113$1,502,032$1,994,648
59$2,468,701$1,689,707$1,503,744$2,085,704
60$2,670,372$1,722,366$1,503,983$2,183,674
61$2,891,034$1,755,046$1,502,651$2,289,235
62$3,132,575$1,787,699$1,499,645$2,403,134
63$3,397,073$1,820,271$1,494,858$2,526,193
64$3,686,816$1,852,706$1,488,178$2,659,321
65$4,004,325$1,884,942$1,479,486$2,803,520
66$4,352,375$1,916,914$1,468,658$2,959,897
67$4,734,025$1,948,550$1,455,565$3,129,671
68$5,152,640$1,979,774$1,440,072$3,314,191
69$5,611,931$2,010,504$1,422,035$3,514,940
70$6,115,981$2,040,652$1,401,307$3,733,560
71$6,669,291$2,070,123$1,377,730$3,971,858
72$7,276,817$2,098,818$1,351,142$4,231,830
73$7,944,019$2,126,627$1,321,373$4,515,679
74$8,676,912$2,153,435$1,288,242$4,825,832
75$9,482,123$2,179,119$1,251,563$5,164,971
76$10,366,950$2,203,546$1,211,141$5,536,051
77$11,339,435$2,226,576$1,166,771$5,942,334
78$12,408,438$2,248,059$1,118,239$6,387,418
79$13,583,720$2,267,835$1,065,321$6,875,271
80$14,876,033$2,285,733$1,007,783$7,410,272
81$16,297,226$2,301,571$945,381$7,997,250
82$17,860,351$2,315,156$877,859$8,641,531
83$19,579,791$2,326,283$804,951$9,348,989
84$21,471,390$2,334,731$726,378$10,126,106
85$23,552,608$2,340,269$641,848$10,980,027
86$25,842,681$2,342,650$551,057$11,918,635
87$28,362,805$2,341,609$453,687$12,950,623
88$31,136,332$2,336,869$349,406$14,085,577
89$34,188,995$2,328,133$237,869$15,334,070
90$37,549,148$2,315,087$118,713$16,707,761
91$41,248,032$2,297,397$0$18,219,507
92$45,320,072$2,274,710$0$19,885,558
93$49,803,199$2,246,651$0$21,750,699
94$54,739,210$2,212,821$0$23,803,107
95$60,174,161$2,172,801$0$26,061,894
96$66,158,800$2,126,144$0$28,548,129
97$72,749,050$2,072,377$0$31,285,035
98$80,006,530$2,011,000$0$34,298,210
99$87,999,140$1,941,483$0$37,615,873
100$96,801,703$1,863,267$0$41,269,124