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

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 $1,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$82,579$81,843$81,126$80,425$79,741$78,485
2 years$40,881$40,119$39,381$38,666$37,972$36,710
3 years$26,983$26,218$25,482$24,774$24,091$22,862
4 years$20,036$19,273$18,545$17,848$17,182$15,995
5 years$15,868$15,111$14,391$13,709$13,061$11,921
6 years$13,091$12,339$11,630$10,963$10,335$9,242
7 years$11,108$10,362$9,665$9,013$8,405$7,359
8 years$9,621$8,882$8,197$7,561$6,973$5,975
9 years$8,466$7,734$7,060$6,440$5,872$4,921
10 years$7,542$6,817$6,155$5,552$5,003$4,098
11 years$6,786$6,069$5,419$4,832$4,303$3,443
12 years$6,157$5,447$4,809$4,238$3,729$2,914
13 years$5,625$4,922$4,296$3,742$3,252$2,479
14 years$5,170$4,474$3,860$3,321$2,850$2,120
15 years$4,775$4,087$3,485$2,962$2,510$1,820
16 years$4,430$3,750$3,160$2,652$2,218$1,567
17 years$4,126$3,454$2,875$2,383$1,967$1,353
18 years$3,857$3,191$2,625$2,148$1,749$1,171
19 years$3,615$2,958$2,403$1,940$1,559$1,016
20 years$3,399$2,748$2,205$1,757$1,392$883
21 years$3,203$2,560$2,029$1,595$1,246$768
22 years$3,025$2,390$1,870$1,450$1,117$669
23 years$2,863$2,235$1,726$1,321$1,002$584
24 years$2,714$2,094$1,596$1,205$901$510
25 years$2,578$1,965$1,479$1,100$811$445
26 years$2,453$1,847$1,371$1,006$730$389
27 years$2,336$1,738$1,273$921$658$341
28 years$2,229$1,638$1,184$844$594$298
29 years$2,129$1,545$1,102$774$537$261
30 years$2,036$1,459$1,026$710$485$229
31 years$1,949$1,380$957$652$438$201
32 years$1,867$1,305$893$599$396$176
33 years$1,791$1,236$833$551$359$154
34 years$1,719$1,172$779$507$325$135
35 years$1,652$1,111$728$467$294$119
36 years$1,588$1,055$681$430$267$104
37 years$1,528$1,002$637$396$242$91
38 years$1,472$952$597$365$219$80
39 years$1,418$905$559$337$199$70
40 years$1,367$861$524$310$180$62
41 years$1,319$820$492$286$163$54
42 years$1,273$781$461$264$148$48
43 years$1,230$744$433$244$135$42
44 years$1,188$709$406$225$122$37
45 years$1,149$676$381$208$111$32
46 years$1,111$645$358$192$101$28
47 years$1,075$616$336$178$91$25
48 years$1,041$588$316$164$83$22
49 years$1,008$561$297$152$75$19
50 years$976$536$279$140$69$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $1,000,000, adding $3,812 every year, while hoping to spend $53,760 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: 63/8/29 Blend
52$1,000,000$1,000,000$1,000,000$1,000,000
53$1,105,932$1,052,932$1,037,432$1,166,794
54$1,161,537$1,047,326$1,014,986$1,202,962
55$1,221,012$1,039,642$989,986$1,236,256
56$1,284,694$1,029,724$962,290$1,271,480
57$1,352,955$1,017,403$931,749$1,308,832
58$1,426,202$1,002,501$898,207$1,348,535
59$1,504,879$984,828$861,502$1,390,832
60$1,589,478$964,186$821,463$1,435,997
61$1,680,535$940,362$777,913$1,484,332
62$1,778,642$913,131$730,665$1,536,171
63$1,884,446$882,257$679,525$1,591,889
64$1,998,660$847,489$624,290$1,651,896
65$2,122,068$808,560$564,748$1,716,651
66$2,255,528$765,189$500,676$1,786,662
67$2,399,987$717,078$431,844$1,862,490
68$2,556,484$663,914$358,010$1,944,760
69$2,726,163$605,363$278,920$2,034,159
70$2,910,280$541,073$194,312$2,131,454
71$3,110,217$470,675$103,910$2,237,491
72$3,327,495$393,774$7,427$2,353,205
73$3,563,787$309,956$0$2,479,634
74$3,820,932$218,783$0$2,647,487
75$4,100,956$119,791$0$2,832,846
76$4,406,086$12,494$0$3,034,915
77$4,738,774$0$0$3,255,352
78$5,101,720$0$0$3,505,106
79$5,497,894$0$0$3,778,994
80$5,930,565$0$0$4,078,184
81$6,403,332$0$0$4,405,174
82$6,920,159$0$0$4,762,714
83$7,485,409$0$0$5,153,831
84$8,103,885$0$0$5,581,860
85$8,780,877$0$0$6,050,472
86$9,522,210$0$0$6,563,709
87$10,334,298$0$0$7,126,023
88$11,224,204$0$0$7,742,316
89$12,199,709$0$0$8,417,989
90$13,269,381$0$0$9,158,988
91$14,442,656$0$0$9,971,863
92$15,729,928$0$0$10,863,830
93$17,142,648$0$0$11,842,834
94$18,693,425$0$0$12,917,630
95$20,396,151$0$0$14,097,860
96$22,266,130$0$0$15,394,147
97$24,320,217$0$0$16,818,191
98$26,576,985$0$0$18,382,884
99$29,056,890$0$0$20,102,426
100$31,782,470$0$0$21,992,464