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

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 $1,980,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$163,507$162,050$160,629$159,242$157,888$153,449
2 years$80,944$79,436$77,975$76,559$75,185$70,746
3 years$53,427$51,913$50,455$49,052$47,700$43,402
4 years$39,671$38,161$36,718$35,339$34,020$29,894
5 years$31,419$29,919$28,495$27,144$25,862$21,920
6 years$25,920$24,431$23,028$21,707$20,463$16,709
7 years$21,994$20,517$19,137$17,847$16,642$13,075
8 years$19,050$17,587$16,229$14,971$13,806$10,425
9 years$16,762$15,313$13,978$12,752$11,627$8,428
10 years$14,932$13,497$12,187$10,992$9,907$6,886
11 years$13,437$12,016$10,729$9,567$8,520$5,673
12 years$12,191$10,785$9,522$8,391$7,383$4,704
13 years$11,138$9,746$8,507$7,408$6,438$3,921
14 years$10,236$8,859$7,644$6,576$5,644$3,283
15 years$9,455$8,093$6,901$5,865$4,969$2,758
16 years$8,772$7,425$6,257$5,251$4,392$2,323
17 years$8,170$6,838$5,693$4,718$3,894$1,962
18 years$7,636$6,319$5,197$4,252$3,463$1,660
19 years$7,159$5,856$4,758$3,842$3,086$1,407
20 years$6,729$5,442$4,367$3,480$2,757$1,194
21 years$6,342$5,069$4,016$3,158$2,467$1,015
22 years$5,989$4,732$3,702$2,871$2,211$863
23 years$5,668$4,425$3,418$2,615$1,985$735
24 years$5,375$4,146$3,161$2,385$1,784$626
25 years$5,105$3,891$2,928$2,178$1,605$534
26 years$4,856$3,657$2,715$1,992$1,446$455
27 years$4,626$3,442$2,521$1,823$1,304$388
28 years$4,413$3,243$2,344$1,670$1,176$332
29 years$4,215$3,059$2,181$1,532$1,062$283
30 years$4,030$2,889$2,032$1,406$960$242
31 years$3,858$2,731$1,894$1,291$868$207
32 years$3,697$2,584$1,767$1,186$785$176
33 years$3,546$2,448$1,650$1,091$710$151
34 years$3,404$2,320$1,542$1,004$643$129
35 years$3,270$2,200$1,441$924$583$110
36 years$3,145$2,088$1,348$851$528$94
37 years$3,026$1,983$1,262$784$478$81
38 years$2,914$1,885$1,182$723$434$69
39 years$2,808$1,792$1,107$666$393$59
40 years$2,707$1,705$1,038$615$357$50
41 years$2,612$1,623$973$567$324$43
42 years$2,521$1,546$913$523$294$37
43 years$2,435$1,473$857$483$267$32
44 years$2,353$1,404$804$446$242$27
45 years$2,274$1,339$755$412$220$23
46 years$2,200$1,277$709$381$199$20
47 years$2,129$1,219$666$352$181$17
48 years$2,060$1,164$626$325$164$14
49 years$1,995$1,111$588$300$149$12
50 years$1,933$1,061$553$278$136$11

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 $6,708 every year, while hoping to spend $43,403 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: 48/40/12 Blend
52$1,980,000$1,980,000$1,980,000$1,980,000
53$2,188,879$2,083,939$2,053,249$2,286,392
54$2,365,965$2,139,872$2,075,853$2,410,190
55$2,559,658$2,197,090$2,097,759$2,539,477
56$2,771,607$2,255,612$2,118,898$2,678,876
57$3,003,628$2,315,454$2,139,198$2,829,345
58$3,257,718$2,376,631$2,158,581$2,991,938
59$3,536,078$2,439,159$2,176,966$3,167,817
60$3,841,133$2,503,053$2,194,269$3,358,257
61$4,175,551$2,568,325$2,210,400$3,564,667
62$4,542,272$2,634,987$2,225,263$3,788,594
63$4,944,534$2,703,052$2,238,760$4,031,744
64$5,385,904$2,772,529$2,250,786$4,295,994
65$5,870,310$2,843,427$2,261,231$4,583,414
66$6,402,080$2,915,753$2,269,980$4,896,280
67$6,985,979$2,989,512$2,276,912$5,237,102
68$7,627,259$3,064,709$2,281,899$5,608,642
69$8,331,704$3,141,344$2,284,807$6,013,945
70$9,105,686$3,219,418$2,285,496$6,456,364
71$9,956,225$3,298,928$2,283,819$6,939,593
72$10,891,054$3,379,870$2,279,621$7,467,702
73$11,918,694$3,462,236$2,272,740$8,045,174
74$13,048,530$3,546,015$2,263,007$8,676,949
75$14,290,905$3,631,194$2,250,243$9,368,470
76$15,657,212$3,717,758$2,234,260$10,125,734
77$17,160,005$3,805,684$2,214,865$10,955,349
78$18,813,113$3,894,951$2,191,851$11,864,595
79$20,631,777$3,985,529$2,165,004$12,861,494
80$22,632,785$4,077,388$2,134,098$13,954,888
81$24,834,638$4,170,489$2,098,900$15,154,516
82$27,257,720$4,264,791$2,059,161$16,471,114
83$29,924,489$4,360,247$2,014,625$17,916,510
84$32,859,692$4,456,805$1,965,021$19,503,739
85$36,090,598$4,554,406$1,910,066$21,247,165
86$39,647,252$4,652,985$1,849,466$23,162,616
87$43,562,760$4,752,469$1,782,912$25,267,538
88$47,873,602$4,852,780$1,710,079$27,581,152
89$52,619,974$4,953,831$1,630,631$30,124,644
90$57,846,168$5,055,526$1,544,215$32,921,358
91$63,600,992$5,157,761$1,450,460$35,997,023
92$69,938,225$5,260,423$1,348,983$39,379,990
93$76,917,128$5,363,389$1,239,378$43,101,505
94$84,603,004$5,466,523$1,121,226$47,196,001
95$93,067,809$5,569,682$994,085$51,701,427
96$102,390,836$5,672,707$857,498$56,659,602
97$112,659,461$5,775,429$710,983$62,116,613
98$123,969,965$5,877,664$554,041$68,123,252
99$136,428,446$5,979,214$386,146$74,735,492
100$150,151,820$6,079,868$206,754$82,015,020