Can I retire at age 53 with 1,680,000?

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 $1,680,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.8%
1 years$138,733$137,497$136,291$135,115$133,966$130,780
2 years$68,680$67,401$66,161$64,959$63,793$60,602
3 years$45,332$44,047$42,810$41,620$40,473$37,377
4 years$33,660$32,379$31,155$29,985$28,866$25,888
5 years$26,659$25,386$24,178$23,031$21,943$19,092
6 years$21,993$20,729$19,539$18,418$17,363$14,641
7 years$18,661$17,408$16,237$15,143$14,121$11,529
8 years$16,164$14,922$13,770$12,703$11,714$9,252
9 years$14,222$12,993$11,860$10,820$9,865$7,529
10 years$12,670$11,452$10,340$9,327$8,406$6,194
11 years$11,401$10,195$9,103$8,117$7,229$5,139
12 years$10,344$9,151$8,079$7,120$6,265$4,292
13 years$9,450$8,270$7,218$6,286$5,463$3,604
14 years$8,685$7,517$6,485$5,580$4,789$3,040
15 years$8,022$6,867$5,855$4,976$4,216$2,574
16 years$7,443$6,300$5,309$4,456$3,726$2,185
17 years$6,932$5,802$4,831$4,003$3,304$1,860
18 years$6,479$5,361$4,410$3,608$2,938$1,587
19 years$6,074$4,969$4,037$3,260$2,619$1,356
20 years$5,710$4,617$3,705$2,953$2,339$1,161
21 years$5,381$4,301$3,408$2,680$2,093$995
22 years$5,082$4,015$3,141$2,436$1,876$853
23 years$4,810$3,755$2,900$2,219$1,684$733
24 years$4,560$3,518$2,682$2,024$1,514$630
25 years$4,331$3,302$2,484$1,848$1,362$542
26 years$4,120$3,103$2,304$1,690$1,227$466
27 years$3,925$2,920$2,139$1,547$1,106$401
28 years$3,744$2,752$1,989$1,417$998$346
29 years$3,576$2,596$1,851$1,300$901$298
30 years$3,420$2,452$1,724$1,193$814$257
31 years$3,274$2,318$1,607$1,095$736$221
32 years$3,137$2,193$1,500$1,007$666$191
33 years$3,009$2,077$1,400$926$603$165
34 years$2,888$1,968$1,308$852$546$142
35 years$2,775$1,867$1,223$784$494$122
36 years$2,668$1,772$1,144$722$448$106
37 years$2,567$1,683$1,071$665$406$91
38 years$2,472$1,599$1,003$613$368$79
39 years$2,382$1,521$940$565$334$68
40 years$2,297$1,447$881$522$303$59
41 years$2,216$1,377$826$481$275$51
42 years$2,139$1,312$775$444$249$44
43 years$2,066$1,250$727$410$226$38
44 years$1,996$1,191$682$379$205$33
45 years$1,930$1,136$641$350$186$28
46 years$1,866$1,084$602$323$169$24
47 years$1,806$1,034$565$298$154$21
48 years$1,748$987$531$276$140$18
49 years$1,693$943$499$255$127$16
50 years$1,640$901$469$235$115$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $1,680,000, adding $3,257 every year, while hoping to spend $23,085 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: 31/47/22 Blend
52$1,680,000$1,680,000$1,680,000$1,680,000
53$1,854,720$1,765,680$1,739,640$1,899,476
54$2,019,339$1,827,636$1,773,355$1,995,657
55$2,199,975$1,891,854$1,807,427$2,096,822
56$2,398,239$1,958,421$1,841,841$2,205,247
57$2,615,902$2,027,426$1,876,586$2,321,577
58$2,854,917$2,098,963$1,911,645$2,446,524
59$3,117,437$2,173,130$1,947,003$2,580,866
60$3,405,829$2,250,028$1,982,642$2,725,459
61$3,722,706$2,329,761$2,018,542$2,881,242
62$4,070,943$2,412,441$2,054,684$3,049,247
63$4,453,709$2,498,179$2,091,046$3,230,608
64$4,874,493$2,587,097$2,127,602$3,426,571
65$5,337,143$2,679,316$2,164,328$3,638,504
66$5,845,895$2,774,966$2,201,196$3,867,912
67$6,405,417$2,874,180$2,238,177$4,116,449
68$7,020,852$2,977,097$2,275,239$4,385,934
69$7,697,867$3,083,863$2,312,347$4,678,366
70$8,442,706$3,194,629$2,349,467$4,995,945
71$9,262,247$3,309,551$2,386,560$5,341,090
72$10,164,071$3,428,793$2,423,584$5,716,461
73$11,156,529$3,552,527$2,460,497$6,124,985
74$12,248,822$3,680,928$2,497,251$6,569,883
75$13,451,091$3,814,183$2,533,798$7,054,700
76$14,774,508$3,952,483$2,570,085$7,583,334
77$16,231,382$4,096,029$2,606,057$8,160,078
78$17,835,278$4,245,029$2,641,656$8,789,654
79$19,601,143$4,399,702$2,676,818$9,477,263
80$21,545,446$4,560,274$2,711,478$10,228,628
81$23,686,335$4,726,982$2,745,566$11,050,048
82$26,043,807$4,900,070$2,779,009$11,948,460
83$28,639,898$5,079,796$2,811,728$12,931,501
84$31,498,888$5,266,426$2,843,641$14,007,577
85$34,647,534$5,460,240$2,874,662$15,185,948
86$38,115,317$5,661,526$2,904,698$16,476,808
87$41,934,727$5,870,589$2,933,653$17,891,382
88$46,141,564$6,087,742$2,961,425$19,442,033
89$50,775,277$6,313,315$2,987,907$21,142,375
90$55,879,338$6,547,651$3,012,984$23,007,403
91$61,501,650$6,791,105$3,036,539$25,053,630
92$67,695,001$7,044,052$3,058,445$27,299,244
93$74,517,559$7,306,878$3,078,571$29,764,280
94$82,033,425$7,579,990$3,096,778$32,470,803
95$90,313,234$7,863,809$3,112,920$35,443,118
96$99,434,823$8,158,776$3,126,842$38,708,000
97$109,483,969$8,465,349$3,138,385$42,294,940
98$120,555,192$8,784,009$3,147,379$46,236,427
99$132,752,650$9,115,255$3,153,645$50,568,249
100$146,191,126$9,459,608$3,156,998$55,329,834