Can I retire at age 53 with 1,010,000?

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 $1,010,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.3%
1 years$83,405$82,662$81,937$81,230$80,539$78,149
2 years$41,290$40,521$39,775$39,053$38,352$35,963
3 years$27,253$26,481$25,737$25,021$24,332$22,020
4 years$20,236$19,466$18,730$18,027$17,354$15,137
5 years$16,027$15,262$14,535$13,846$13,192$11,075
6 years$13,222$12,462$11,747$11,073$10,438$8,424
7 years$11,219$10,466$9,762$9,104$8,489$6,577
8 years$9,717$8,971$8,279$7,637$7,043$5,232
9 years$8,550$7,811$7,130$6,505$5,931$4,219
10 years$7,617$6,885$6,216$5,607$5,053$3,439
11 years$6,854$6,129$5,473$4,880$4,346$2,826
12 years$6,219$5,501$4,857$4,280$3,766$2,337
13 years$5,681$4,972$4,339$3,779$3,284$1,943
14 years$5,221$4,519$3,899$3,355$2,879$1,622
15 years$4,823$4,128$3,520$2,992$2,535$1,359
16 years$4,475$3,788$3,192$2,679$2,240$1,141
17 years$4,168$3,488$2,904$2,407$1,986$961
18 years$3,895$3,223$2,651$2,169$1,766$811
19 years$3,652$2,987$2,427$1,960$1,574$685
20 years$3,433$2,776$2,227$1,775$1,406$580
21 years$3,235$2,586$2,049$1,611$1,258$491
22 years$3,055$2,414$1,888$1,465$1,128$416
23 years$2,891$2,257$1,743$1,334$1,013$353
24 years$2,742$2,115$1,612$1,217$910$300
25 years$2,604$1,985$1,493$1,111$819$255
26 years$2,477$1,865$1,385$1,016$738$217
27 years$2,360$1,756$1,286$930$665$184
28 years$2,251$1,654$1,196$852$600$157
29 years$2,150$1,561$1,113$781$542$134
30 years$2,056$1,474$1,036$717$490$114
31 years$1,968$1,393$966$659$443$97
32 years$1,886$1,318$901$605$400$82
33 years$1,809$1,248$842$557$362$70
34 years$1,736$1,183$786$512$328$60
35 years$1,668$1,122$735$471$297$51
36 years$1,604$1,065$688$434$269$43
37 years$1,544$1,012$644$400$244$37
38 years$1,486$962$603$369$221$32
39 years$1,432$914$565$340$201$27
40 years$1,381$870$529$314$182$23
41 years$1,332$828$496$289$165$20
42 years$1,286$789$466$267$150$17
43 years$1,242$751$437$246$136$14
44 years$1,200$716$410$228$123$12
45 years$1,160$683$385$210$112$10
46 years$1,122$652$362$194$102$9
47 years$1,086$622$340$179$92$7
48 years$1,051$594$319$166$84$6
49 years$1,018$567$300$153$76$5
50 years$986$541$282$142$69$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $1,010,000, adding $2,016 every year, while hoping to spend $58,378 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: 32/49/19 Blend
52$1,010,000$1,010,000$1,010,000$1,010,000
53$1,115,100$1,061,570$1,045,915$1,144,136
54$1,166,726$1,051,473$1,018,839$1,155,880
55$1,221,662$1,038,925$988,900$1,163,047
56$1,280,183$1,023,743$955,939$1,169,535
57$1,342,591$1,005,736$919,793$1,175,321
58$1,409,217$984,700$880,288$1,180,381
59$1,480,425$960,417$837,245$1,184,697
60$1,556,611$932,660$790,475$1,188,256
61$1,638,211$901,186$739,782$1,191,048
62$1,725,703$865,739$684,960$1,193,069
63$1,819,612$826,048$625,793$1,194,323
64$1,920,513$781,825$562,058$1,194,821
65$2,029,038$732,767$493,519$1,194,585
66$2,145,881$678,553$419,933$1,193,645
67$2,271,802$618,844$341,042$1,192,047
68$2,407,640$553,281$256,581$1,189,848
69$2,554,312$481,485$166,270$1,187,123
70$2,712,830$403,055$69,817$1,183,965
71$2,884,302$317,569$0$1,180,490
72$3,069,950$224,579$0$1,183,548
73$3,271,115$123,613$0$1,202,133
74$3,489,271$14,172$0$1,222,340
75$3,726,041$0$0$1,244,469
76$3,983,209$0$0$1,325,086
77$4,262,737$0$0$1,421,152
78$4,566,783$0$0$1,525,787
79$4,897,724$0$0$1,639,823
80$5,258,173$0$0$1,764,182
81$5,651,005$0$0$1,899,873
82$6,079,385$0$0$2,048,011
83$6,546,798$0$0$2,209,821
84$7,057,077$0$0$2,386,652
85$7,614,444$0$0$2,579,990
86$8,223,544$0$0$2,791,471
87$8,889,495$0$0$3,022,894
88$9,617,927$0$0$3,276,244
89$10,415,043$0$0$3,553,703
90$11,287,672$0$0$3,857,677
91$12,243,334$0$0$4,190,813
92$13,290,308$0$0$4,556,028
93$14,437,716$0$0$4,956,534
94$15,695,602$0$0$5,395,869
95$17,075,026$0$0$5,877,930
96$18,588,174$0$0$6,407,009
97$20,248,465$0$0$6,987,834
98$22,070,681$0$0$7,625,614
99$24,071,105$0$0$8,326,086
100$26,267,672$0$0$9,095,569