Can I retire at age 53 with 1,500,000?

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 $1,500,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$123,869$122,765$121,689$120,638$119,612$117,534
2 years$61,321$60,179$59,072$57,999$56,958$54,871
3 years$40,475$39,328$38,224$37,161$36,137$34,106
4 years$30,053$28,910$27,817$26,772$25,773$23,814
5 years$23,802$22,666$21,587$20,564$19,592$17,711
6 years$19,636$18,508$17,446$16,445$15,503$13,701
7 years$16,662$15,543$14,497$13,520$12,608$10,886
8 years$14,432$13,323$12,295$11,342$10,459$8,817
9 years$12,698$11,600$10,590$9,661$8,808$7,245
10 years$11,312$10,225$9,232$8,328$7,505$6,019
11 years$10,179$9,103$8,128$7,247$6,455$5,045
12 years$9,236$8,170$7,213$6,357$5,593$4,257
13 years$8,438$7,384$6,445$5,612$4,878$3,613
14 years$7,754$6,711$5,791$4,982$4,276$3,081
15 years$7,163$6,131$5,228$4,443$3,765$2,637
16 years$6,646$5,625$4,740$3,978$3,327$2,265
17 years$6,190$5,181$4,313$3,574$2,950$1,950
18 years$5,785$4,787$3,937$3,221$2,623$1,683
19 years$5,423$4,437$3,605$2,911$2,338$1,456
20 years$5,098$4,123$3,308$2,636$2,088$1,261
21 years$4,804$3,840$3,043$2,393$1,869$1,094
22 years$4,537$3,585$2,804$2,175$1,675$950
23 years$4,294$3,353$2,589$1,981$1,504$826
24 years$4,072$3,141$2,395$1,807$1,352$719
25 years$3,867$2,948$2,218$1,650$1,216$626
26 years$3,679$2,770$2,057$1,509$1,096$546
27 years$3,505$2,607$1,910$1,381$988$476
28 years$3,343$2,457$1,776$1,265$891$415
29 years$3,193$2,318$1,652$1,160$805$363
30 years$3,053$2,189$1,539$1,065$727$317
31 years$2,923$2,069$1,435$978$657$277
32 years$2,801$1,958$1,339$899$595$242
33 years$2,686$1,854$1,250$827$538$211
34 years$2,579$1,757$1,168$761$487$185
35 years$2,478$1,667$1,092$700$441$162
36 years$2,382$1,582$1,022$645$400$141
37 years$2,292$1,503$956$594$362$124
38 years$2,207$1,428$895$548$329$108
39 years$2,127$1,358$839$505$298$95
40 years$2,051$1,292$786$466$270$83
41 years$1,978$1,230$737$430$245$72
42 years$1,910$1,171$692$397$222$63
43 years$1,844$1,116$649$366$202$55
44 years$1,782$1,064$609$338$183$49
45 years$1,723$1,014$572$312$166$43
46 years$1,666$968$537$288$151$37
47 years$1,613$923$505$266$137$33
48 years$1,561$882$474$246$125$29
49 years$1,512$842$446$227$113$25
50 years$1,465$804$419$210$103$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $1,500,000, adding $3,667 every year, while hoping to spend $55,302 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: 72/11/17 Blend
52$1,500,000$1,500,000$1,500,000$1,500,000
53$1,656,783$1,577,283$1,554,033$1,769,276
54$1,766,933$1,595,728$1,547,252$1,862,905
55$1,886,466$1,613,225$1,538,390$1,958,365
56$2,016,280$1,629,667$1,527,320$2,061,478
57$2,157,362$1,644,942$1,513,907$2,172,991
58$2,310,800$1,658,931$1,498,010$2,293,729
59$2,477,791$1,671,508$1,479,483$2,424,599
60$2,659,650$1,682,537$1,458,170$2,566,605
61$2,857,827$1,691,873$1,433,911$2,720,850
62$3,073,914$1,699,364$1,406,536$2,888,552
63$3,309,667$1,704,847$1,375,869$3,071,053
64$3,567,017$1,708,148$1,341,724$3,269,833
65$3,848,089$1,709,083$1,303,908$3,486,524
66$4,155,223$1,707,458$1,262,218$3,722,925
67$4,490,995$1,703,063$1,216,442$3,981,018
68$4,858,243$1,695,679$1,166,359$4,262,990
69$5,260,088$1,685,072$1,111,737$4,571,251
70$5,699,971$1,670,994$1,052,333$4,908,460
71$6,181,677$1,653,181$987,895$5,277,545
72$6,709,376$1,631,356$918,159$5,681,737
73$7,287,662$1,605,222$842,846$6,124,599
74$7,921,592$1,574,466$761,670$6,610,055
75$8,616,736$1,538,757$674,328$7,142,436
76$9,379,230$1,497,742$580,504$7,726,512
77$10,215,831$1,451,051$479,871$8,367,547
78$11,133,983$1,398,290$372,084$9,071,339
79$12,141,885$1,339,042$256,784$9,844,284
80$13,248,568$1,272,866$133,597$10,693,432
81$14,463,982$1,199,296$2,133$11,626,554
82$15,799,086$1,117,839$0$12,652,217
83$17,265,953$1,027,973$0$13,804,929
84$18,877,884$929,149$0$15,072,081
85$20,649,533$820,781$0$16,464,845
86$22,597,042$702,257$0$17,995,958
87$24,738,197$572,924$0$19,679,456
88$27,092,592$432,096$0$21,530,807
89$29,681,815$279,047$0$23,567,054
90$32,529,650$113,010$0$25,806,982
91$35,662,304$0$0$28,271,287
92$39,108,649$0$0$30,990,870
93$42,900,498$0$0$33,998,231
94$47,072,903$0$0$37,307,501
95$51,664,485$0$0$40,949,321
96$56,717,798$0$0$44,957,456
97$62,279,730$0$0$49,369,107
98$68,401,945$0$0$54,225,265
99$75,141,372$0$0$59,571,098
100$82,560,737$0$0$65,456,372