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%15.2%
1 years$82,579$81,843$81,126$80,425$79,741$78,036
2 years$40,881$40,119$39,381$38,666$37,972$36,262
3 years$26,983$26,218$25,482$24,774$24,091$22,430
4 years$20,036$19,273$18,545$17,848$17,182$15,582
5 years$15,868$15,111$14,391$13,709$13,061$11,528
6 years$13,091$12,339$11,630$10,963$10,335$8,870
7 years$11,108$10,362$9,665$9,013$8,405$7,008
8 years$9,621$8,882$8,197$7,561$6,973$5,643
9 years$8,466$7,734$7,060$6,440$5,872$4,609
10 years$7,542$6,817$6,155$5,552$5,003$3,806
11 years$6,786$6,069$5,419$4,832$4,303$3,170
12 years$6,157$5,447$4,809$4,238$3,729$2,658
13 years$5,625$4,922$4,296$3,742$3,252$2,241
14 years$5,170$4,474$3,860$3,321$2,850$1,898
15 years$4,775$4,087$3,485$2,962$2,510$1,613
16 years$4,430$3,750$3,160$2,652$2,218$1,376
17 years$4,126$3,454$2,875$2,383$1,967$1,176
18 years$3,857$3,191$2,625$2,148$1,749$1,008
19 years$3,615$2,958$2,403$1,940$1,559$865
20 years$3,399$2,748$2,205$1,757$1,392$744
21 years$3,203$2,560$2,029$1,595$1,246$640
22 years$3,025$2,390$1,870$1,450$1,117$552
23 years$2,863$2,235$1,726$1,321$1,002$476
24 years$2,714$2,094$1,596$1,205$901$411
25 years$2,578$1,965$1,479$1,100$811$355
26 years$2,453$1,847$1,371$1,006$730$307
27 years$2,336$1,738$1,273$921$658$266
28 years$2,229$1,638$1,184$844$594$230
29 years$2,129$1,545$1,102$774$537$199
30 years$2,036$1,459$1,026$710$485$173
31 years$1,949$1,380$957$652$438$149
32 years$1,867$1,305$893$599$396$130
33 years$1,791$1,236$833$551$359$112
34 years$1,719$1,172$779$507$325$97
35 years$1,652$1,111$728$467$294$84
36 years$1,588$1,055$681$430$267$73
37 years$1,528$1,002$637$396$242$63
38 years$1,472$952$597$365$219$55
39 years$1,418$905$559$337$199$48
40 years$1,367$861$524$310$180$41
41 years$1,319$820$492$286$163$36
42 years$1,273$781$461$264$148$31
43 years$1,230$744$433$244$135$27
44 years$1,188$709$406$225$122$24
45 years$1,149$676$381$208$111$20
46 years$1,111$645$358$192$101$18
47 years$1,075$616$336$178$91$15
48 years$1,041$588$316$164$83$13
49 years$1,008$561$297$152$75$12
50 years$976$536$279$140$69$10

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 $6,245 every year, while hoping to spend $22,847 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: 49/38/13 Blend
52$1,000,000$1,000,000$1,000,000$1,000,000
53$1,108,442$1,055,442$1,039,942$1,158,508
54$1,197,194$1,082,849$1,050,471$1,221,016
55$1,294,233$1,110,834$1,060,587$1,285,985
56$1,400,380$1,139,400$1,070,252$1,356,046
57$1,516,539$1,168,552$1,079,426$1,431,682
58$1,643,706$1,198,291$1,088,067$1,513,426
59$1,782,978$1,228,621$1,096,130$1,601,867
60$1,935,561$1,259,542$1,103,570$1,697,649
61$2,102,785$1,291,057$1,110,336$1,801,486
62$2,286,114$1,323,164$1,116,378$1,914,160
63$2,487,162$1,355,863$1,121,641$2,036,534
64$2,707,705$1,389,152$1,126,068$2,169,561
65$2,949,698$1,423,028$1,129,599$2,314,287
66$3,215,298$1,457,487$1,132,171$2,471,866
67$3,506,878$1,492,524$1,133,718$2,643,568
68$3,827,053$1,528,131$1,134,171$2,830,795
69$4,178,704$1,564,301$1,133,457$3,035,088
70$4,565,004$1,601,024$1,131,500$3,258,146
71$4,989,449$1,638,288$1,128,220$3,501,844
72$5,455,890$1,676,082$1,123,533$3,768,242
73$5,968,569$1,714,388$1,117,350$4,059,616
74$6,532,162$1,753,192$1,109,580$4,378,469
75$7,151,817$1,792,473$1,100,125$4,727,563
76$7,833,208$1,832,210$1,088,886$5,109,937
77$8,582,587$1,872,380$1,075,754$5,528,945
78$9,406,839$1,912,955$1,060,621$5,988,280
79$10,313,553$1,953,906$1,043,368$6,492,011
80$11,311,089$1,995,201$1,023,874$7,044,624
81$12,408,659$2,036,805$1,002,013$7,651,061
82$13,616,412$2,078,678$977,650$8,316,771
83$14,945,531$2,120,778$950,646$9,047,756
84$16,408,337$2,163,059$920,855$9,850,631
85$18,018,409$2,205,469$888,125$10,732,687
86$19,790,705$2,247,956$852,295$11,701,959
87$21,741,709$2,290,458$813,200$12,767,303
88$23,889,585$2,332,912$770,663$13,938,476
89$26,254,346$2,375,248$724,504$15,226,235
90$28,858,045$2,417,391$674,531$16,642,431
91$31,724,984$2,459,261$620,546$18,200,128
92$34,881,937$2,500,770$562,339$19,913,722
93$38,358,412$2,541,825$499,694$21,799,078
94$42,186,920$2,582,324$432,384$23,873,684
95$46,403,288$2,622,161$360,172$26,156,809
96$51,046,995$2,661,218$282,809$28,669,692
97$56,161,543$2,699,372$200,038$31,435,740
98$61,794,870$2,736,491$111,588$34,480,748
99$67,999,798$2,772,430$17,178$37,833,145
100$74,834,537$2,807,039$0$41,524,264