Can I retire at age 53 with 1,600,000?

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 $1,600,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$132,127$130,950$129,801$128,681$127,586$125,164
2 years$65,409$64,191$63,010$61,866$60,755$58,324
3 years$43,173$41,950$40,772$39,638$38,546$36,182
4 years$32,057$30,837$29,671$28,557$27,491$25,212
5 years$25,389$24,177$23,026$21,934$20,898$18,711
6 years$20,945$19,742$18,609$17,541$16,536$14,443
7 years$17,773$16,579$15,464$14,422$13,448$11,450
8 years$15,394$14,212$13,115$12,098$11,157$9,253
9 years$13,545$12,374$11,296$10,305$9,396$7,585
10 years$12,067$10,907$9,848$8,883$8,005$6,286
11 years$10,858$9,710$8,670$7,731$6,885$5,255
12 years$9,851$8,715$7,694$6,781$5,966$4,423
13 years$9,000$7,876$6,874$5,986$5,203$3,744
14 years$8,271$7,159$6,177$5,314$4,561$3,184
15 years$7,640$6,540$5,577$4,739$4,016$2,718
16 years$7,089$6,000$5,056$4,243$3,549$2,328
17 years$6,602$5,526$4,601$3,813$3,147$1,999
18 years$6,171$5,106$4,200$3,436$2,798$1,720
19 years$5,785$4,732$3,845$3,105$2,494$1,483
20 years$5,438$4,398$3,529$2,812$2,228$1,281
21 years$5,124$4,096$3,246$2,552$1,993$1,108
22 years$4,840$3,824$2,991$2,320$1,787$959
23 years$4,581$3,576$2,762$2,113$1,604$832
24 years$4,343$3,351$2,554$1,927$1,442$721
25 years$4,125$3,144$2,366$1,760$1,297$626
26 years$3,924$2,955$2,194$1,609$1,169$544
27 years$3,738$2,781$2,038$1,473$1,054$473
28 years$3,566$2,621$1,894$1,350$951$411
29 years$3,406$2,472$1,763$1,238$858$358
30 years$3,257$2,335$1,642$1,136$776$312
31 years$3,118$2,207$1,531$1,043$701$271
32 years$2,987$2,088$1,428$959$634$236
33 years$2,865$1,978$1,333$882$574$206
34 years$2,751$1,875$1,246$811$520$179
35 years$2,643$1,778$1,165$747$471$156
36 years$2,541$1,688$1,090$688$427$136
37 years$2,445$1,603$1,020$634$387$119
38 years$2,355$1,523$955$584$350$104
39 years$2,269$1,448$895$539$318$90
40 years$2,187$1,378$839$497$288$79
41 years$2,110$1,312$786$458$262$69
42 years$2,037$1,249$738$423$237$60
43 years$1,967$1,190$692$390$215$52
44 years$1,901$1,135$650$361$195$46
45 years$1,838$1,082$610$333$177$40
46 years$1,778$1,032$573$308$161$35
47 years$1,720$985$538$284$146$30
48 years$1,665$940$506$263$133$26
49 years$1,612$898$476$243$121$23
50 years$1,562$858$447$224$110$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $1,600,000, adding $4,492 every year, while hoping to spend $42,039 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: 34/42/24 Blend
52$1,600,000$1,600,000$1,600,000$1,600,000
53$1,767,833$1,683,033$1,658,233$1,814,898
54$1,903,423$1,720,773$1,669,055$1,888,137
55$2,051,434$1,758,953$1,678,830$1,962,928
56$2,213,089$1,797,550$1,687,480$2,042,740
57$2,389,734$1,836,539$1,694,920$2,128,043
58$2,582,850$1,875,893$1,701,062$2,219,360
59$2,794,068$1,915,579$1,705,816$2,317,264
60$3,025,186$1,955,565$1,709,083$2,422,391
61$3,278,180$1,995,814$1,710,763$2,535,440
62$3,555,230$2,036,283$1,710,749$2,657,182
63$3,858,732$2,076,930$1,708,928$2,788,469
64$4,191,329$2,117,707$1,705,184$2,930,241
65$4,555,930$2,158,559$1,699,393$3,083,534
66$4,955,738$2,199,432$1,691,426$3,249,491
67$5,394,283$2,240,264$1,681,148$3,429,375
68$5,875,450$2,280,987$1,668,417$3,624,576
69$6,403,522$2,321,531$1,653,084$3,836,631
70$6,983,213$2,361,818$1,634,994$4,067,235
71$7,619,719$2,401,765$1,613,984$4,318,255
72$8,318,760$2,441,282$1,589,883$4,591,756
73$9,086,642$2,480,273$1,562,513$4,890,011
74$9,930,308$2,518,635$1,531,685$5,215,532
75$10,857,408$2,556,256$1,497,205$5,571,086
76$11,876,369$2,593,019$1,458,868$5,959,729
77$12,996,477$2,628,795$1,416,458$6,384,831
78$14,227,961$2,663,449$1,369,752$6,850,108
79$15,582,090$2,696,835$1,318,516$7,359,662
80$17,071,281$2,728,798$1,262,504$7,918,014
81$18,709,214$2,759,171$1,201,460$8,530,155
82$20,510,961$2,787,777$1,135,116$9,201,587
83$22,493,128$2,814,427$1,063,191$9,938,379
84$24,674,013$2,838,920$985,394$10,747,227
85$27,073,775$2,861,040$901,418$11,635,512
86$29,714,628$2,880,559$810,943$12,611,379
87$32,621,047$2,897,233$713,637$13,683,807
88$35,820,000$2,910,804$609,150$14,862,700
89$39,341,201$2,920,995$497,118$16,158,982
90$43,217,394$2,927,513$377,161$17,584,695
91$47,484,654$2,930,048$248,882$19,153,124
92$52,182,737$2,928,268$111,868$20,878,913
93$57,355,445$2,921,823$0$22,778,214
94$63,051,047$2,910,338$0$24,877,632
95$69,322,729$2,893,420$0$27,219,152
96$76,229,097$2,870,647$0$29,795,869
97$83,834,731$2,841,575$0$32,631,782
98$92,210,793$2,805,732$0$35,753,345
99$101,435,699$2,762,618$0$39,189,719
100$111,595,856$2,711,702$0$42,973,043