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%17.1%
1 years$163,507$162,050$160,629$159,242$157,888$153,325
2 years$80,944$79,436$77,975$76,559$75,185$70,624
3 years$53,427$51,913$50,455$49,052$47,700$43,285
4 years$39,671$38,161$36,718$35,339$34,020$29,784
5 years$31,419$29,919$28,495$27,144$25,862$21,816
6 years$25,920$24,431$23,028$21,707$20,463$16,611
7 years$21,994$20,517$19,137$17,847$16,642$12,984
8 years$19,050$17,587$16,229$14,971$13,806$10,340
9 years$16,762$15,313$13,978$12,752$11,627$8,350
10 years$14,932$13,497$12,187$10,992$9,907$6,813
11 years$13,437$12,016$10,729$9,567$8,520$5,606
12 years$12,191$10,785$9,522$8,391$7,383$4,642
13 years$11,138$9,746$8,507$7,408$6,438$3,864
14 years$10,236$8,859$7,644$6,576$5,644$3,231
15 years$9,455$8,093$6,901$5,865$4,969$2,710
16 years$8,772$7,425$6,257$5,251$4,392$2,280
17 years$8,170$6,838$5,693$4,718$3,894$1,923
18 years$7,636$6,319$5,197$4,252$3,463$1,624
19 years$7,159$5,856$4,758$3,842$3,086$1,375
20 years$6,729$5,442$4,367$3,480$2,757$1,165
21 years$6,342$5,069$4,016$3,158$2,467$989
22 years$5,989$4,732$3,702$2,871$2,211$840
23 years$5,668$4,425$3,418$2,615$1,985$714
24 years$5,375$4,146$3,161$2,385$1,784$607
25 years$5,105$3,891$2,928$2,178$1,605$517
26 years$4,856$3,657$2,715$1,992$1,446$440
27 years$4,626$3,442$2,521$1,823$1,304$375
28 years$4,413$3,243$2,344$1,670$1,176$319
29 years$4,215$3,059$2,181$1,532$1,062$272
30 years$4,030$2,889$2,032$1,406$960$232
31 years$3,858$2,731$1,894$1,291$868$198
32 years$3,697$2,584$1,767$1,186$785$169
33 years$3,546$2,448$1,650$1,091$710$144
34 years$3,404$2,320$1,542$1,004$643$123
35 years$3,270$2,200$1,441$924$583$105
36 years$3,145$2,088$1,348$851$528$90
37 years$3,026$1,983$1,262$784$478$76
38 years$2,914$1,885$1,182$723$434$65
39 years$2,808$1,792$1,107$666$393$56
40 years$2,707$1,705$1,038$615$357$48
41 years$2,612$1,623$973$567$324$41
42 years$2,521$1,546$913$523$294$35
43 years$2,435$1,473$857$483$267$30
44 years$2,353$1,404$804$446$242$25
45 years$2,274$1,339$755$412$220$22
46 years$2,200$1,277$709$381$199$18
47 years$2,129$1,219$666$352$181$16
48 years$2,060$1,164$626$325$164$13
49 years$1,995$1,111$588$300$149$11
50 years$1,933$1,061$553$278$136$10

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 $5,069 every year, while hoping to spend $37,391 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: 60/27/13 Blend
52$1,980,000$1,980,000$1,980,000$1,980,000
53$2,187,189$2,082,249$2,051,559$2,311,150
54$2,370,498$2,144,495$2,080,502$2,457,419
55$2,571,252$2,208,538$2,109,162$2,612,246
56$2,791,190$2,274,427$2,137,489$2,780,238
57$3,032,229$2,342,211$2,165,432$2,962,671
58$3,296,478$2,411,941$2,192,936$3,160,945
59$3,586,261$2,483,669$2,219,942$3,376,606
60$3,904,139$2,557,449$2,246,390$3,611,352
61$4,252,932$2,633,334$2,272,214$3,867,055
62$4,635,744$2,711,380$2,297,346$4,145,775
63$5,055,997$2,791,645$2,321,714$4,449,780
64$5,517,458$2,874,185$2,345,242$4,781,568
65$6,024,281$2,959,062$2,367,849$5,143,890
66$6,581,036$3,046,335$2,389,450$5,539,776
67$7,192,762$3,136,065$2,409,957$5,972,563
68$7,865,009$3,228,318$2,429,276$6,445,924
69$8,603,890$3,323,155$2,447,307$6,963,908
70$9,416,142$3,420,645$2,463,947$7,530,974
71$10,309,184$3,520,853$2,479,085$8,152,032
72$11,291,195$3,623,848$2,492,608$8,832,492
73$12,371,180$3,729,700$2,504,394$9,578,315
74$13,559,064$3,838,479$2,514,315$10,396,065
75$14,865,782$3,950,259$2,522,238$11,292,974
76$16,303,382$4,065,112$2,528,024$12,277,012
77$17,885,138$4,183,113$2,531,523$13,356,956
78$19,625,676$4,304,339$2,532,583$14,542,478
79$21,541,110$4,428,867$2,531,040$15,844,234
80$23,649,198$4,556,776$2,526,724$17,273,963
81$25,969,503$4,688,145$2,519,456$18,844,602
82$28,523,585$4,823,056$2,509,050$20,570,401
83$31,335,196$4,961,592$2,495,309$22,467,065
84$34,430,512$5,103,835$2,478,027$24,551,896
85$37,838,371$5,249,871$2,456,989$26,843,959
86$41,590,555$5,399,784$2,431,968$29,364,259
87$45,722,081$5,553,663$2,402,728$32,135,945
88$50,271,535$5,711,594$2,369,021$35,184,521
89$55,281,436$5,873,667$2,330,588$38,538,091
90$60,798,637$6,039,970$2,287,157$42,227,623
91$66,874,764$6,210,595$2,238,443$46,287,241
92$73,566,709$6,385,633$2,184,149$50,754,547
93$80,937,159$6,565,175$2,123,965$55,670,976
94$89,055,195$6,749,314$2,057,563$61,082,184
95$97,996,937$6,938,143$1,984,604$67,038,485
96$107,846,268$7,131,755$1,904,731$73,595,320
97$118,695,620$7,330,244$1,817,572$80,813,783
98$130,646,850$7,533,704$1,722,738$88,761,195
99$143,812,201$7,742,227$1,619,822$97,511,745
100$158,315,358$7,955,909$1,508,399$107,147,181