Can I retire at age 53 with 1,980,000?

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 $1,980,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$163,507$162,050$160,629$159,242$157,888$155,786
2 years$80,944$79,436$77,975$76,559$75,185$73,070
3 years$53,427$51,913$50,455$49,052$47,700$45,639
4 years$39,671$38,161$36,718$35,339$34,020$32,028
5 years$31,419$29,919$28,495$27,144$25,862$23,945
6 years$25,920$24,431$23,028$21,707$20,463$18,624
7 years$21,994$20,517$19,137$17,847$16,642$14,881
8 years$19,050$17,587$16,229$14,971$13,806$12,123
9 years$16,762$15,313$13,978$12,752$11,627$10,020
10 years$14,932$13,497$12,187$10,992$9,907$8,376
11 years$13,437$12,016$10,729$9,567$8,520$7,064
12 years$12,191$10,785$9,522$8,391$7,383$6,000
13 years$11,138$9,746$8,507$7,408$6,438$5,126
14 years$10,236$8,859$7,644$6,576$5,644$4,400
15 years$9,455$8,093$6,901$5,865$4,969$3,792
16 years$8,772$7,425$6,257$5,251$4,392$3,280
17 years$8,170$6,838$5,693$4,718$3,894$2,844
18 years$7,636$6,319$5,197$4,252$3,463$2,473
19 years$7,159$5,856$4,758$3,842$3,086$2,154
20 years$6,729$5,442$4,367$3,480$2,757$1,880
21 years$6,342$5,069$4,016$3,158$2,467$1,643
22 years$5,989$4,732$3,702$2,871$2,211$1,438
23 years$5,668$4,425$3,418$2,615$1,985$1,260
24 years$5,375$4,146$3,161$2,385$1,784$1,105
25 years$5,105$3,891$2,928$2,178$1,605$970
26 years$4,856$3,657$2,715$1,992$1,446$853
27 years$4,626$3,442$2,521$1,823$1,304$750
28 years$4,413$3,243$2,344$1,670$1,176$659
29 years$4,215$3,059$2,181$1,532$1,062$580
30 years$4,030$2,889$2,032$1,406$960$511
31 years$3,858$2,731$1,894$1,291$868$450
32 years$3,697$2,584$1,767$1,186$785$397
33 years$3,546$2,448$1,650$1,091$710$350
34 years$3,404$2,320$1,542$1,004$643$308
35 years$3,270$2,200$1,441$924$583$272
36 years$3,145$2,088$1,348$851$528$240
37 years$3,026$1,983$1,262$784$478$211
38 years$2,914$1,885$1,182$723$434$187
39 years$2,808$1,792$1,107$666$393$165
40 years$2,707$1,705$1,038$615$357$145
41 years$2,612$1,623$973$567$324$128
42 years$2,521$1,546$913$523$294$113
43 years$2,435$1,473$857$483$267$100
44 years$2,353$1,404$804$446$242$88
45 years$2,274$1,339$755$412$220$78
46 years$2,200$1,277$709$381$199$69
47 years$2,129$1,219$666$352$181$61
48 years$2,060$1,164$626$325$164$54
49 years$1,995$1,111$588$300$149$47
50 years$1,933$1,061$553$278$136$42

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $1,980,000, adding $3,577 every year, while hoping to spend $49,816 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: 53/39/8 Blend
52$1,980,000$1,980,000$1,980,000$1,980,000
53$2,185,650$2,080,710$2,050,020$2,297,005
54$2,355,582$2,129,661$2,065,691$2,421,878
55$2,541,178$2,179,341$2,080,219$2,551,930
56$2,743,983$2,229,733$2,093,510$2,692,225
57$2,965,697$2,280,817$2,105,471$2,843,743
58$3,208,193$2,332,573$2,116,000$3,007,558
59$3,473,534$2,384,974$2,124,991$3,184,858
60$3,763,990$2,437,993$2,132,334$3,376,948
61$4,082,062$2,491,600$2,137,911$3,585,265
62$4,430,502$2,545,758$2,141,601$3,811,394
63$4,812,344$2,600,431$2,143,275$4,057,080
64$5,230,926$2,655,575$2,142,798$4,324,245
65$5,689,926$2,711,144$2,140,028$4,615,007
66$6,193,397$2,767,088$2,134,817$4,931,699
67$6,745,799$2,823,351$2,127,009$5,276,890
68$7,352,047$2,879,872$2,116,441$5,653,415
69$8,017,555$2,936,585$2,102,941$6,064,393
70$8,748,287$2,993,419$2,086,330$6,513,263
71$9,550,810$3,050,294$2,066,420$7,003,815
72$10,432,362$3,107,128$2,043,015$7,540,225
73$11,400,915$3,163,829$2,015,908$8,127,095
74$12,465,250$3,220,299$1,984,883$8,769,496
75$13,635,043$3,276,431$1,949,714$9,473,018
76$14,920,953$3,332,111$1,910,164$10,243,818
77$16,334,722$3,387,217$1,865,986$11,088,686
78$17,889,288$3,441,615$1,816,921$12,015,103
79$19,598,905$3,495,164$1,762,698$13,031,312
80$21,479,278$3,547,711$1,703,033$14,146,403
81$23,547,709$3,599,094$1,637,630$15,370,388
82$25,823,263$3,649,137$1,566,178$16,714,306
83$28,326,945$3,697,654$1,488,354$18,190,322
84$31,081,898$3,744,443$1,403,818$19,811,844
85$34,113,623$3,789,292$1,312,217$21,593,649
86$37,450,217$3,831,972$1,213,181$23,552,024
87$41,122,639$3,872,239$1,106,322$25,704,919
88$45,165,002$3,909,832$991,238$28,072,118
89$49,614,893$3,944,475$867,506$30,675,428
90$54,513,730$3,975,872$734,685$33,538,880
91$59,907,148$4,003,708$592,315$36,688,964
92$65,845,436$4,027,648$439,916$40,154,873
93$72,384,003$4,047,336$276,986$43,968,784
94$79,583,908$4,062,391$103,001$48,166,159
95$87,512,430$4,072,412$0$52,786,084
96$96,243,706$4,076,969$0$57,878,696
97$105,859,431$4,075,607$0$63,494,257
98$116,449,624$4,067,842$0$69,676,345
99$128,113,481$4,053,162$0$76,482,687
100$140,960,310$4,031,022$0$83,976,902