Can I retire at age 53 with 1,040,000?

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 $1,040,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.7%
1 years$85,882$85,117$84,371$83,642$82,931$81,658
2 years$42,516$41,724$40,957$40,213$39,491$38,212
3 years$28,062$27,267$26,502$25,765$25,055$23,809
4 years$20,837$20,044$19,286$18,562$17,869$16,666
5 years$16,503$15,715$14,967$14,257$13,584$12,427
6 years$13,615$12,832$12,096$11,402$10,748$9,640
7 years$11,552$10,777$10,052$9,374$8,741$7,681
8 years$10,006$9,238$8,524$7,864$7,252$6,239
9 years$8,804$8,043$7,342$6,698$6,107$5,142
10 years$7,843$7,089$6,401$5,774$5,204$4,285
11 years$7,058$6,311$5,635$5,025$4,475$3,602
12 years$6,403$5,665$5,001$4,408$3,878$3,050
13 years$5,850$5,119$4,468$3,891$3,382$2,597
14 years$5,376$4,653$4,015$3,454$2,964$2,222
15 years$4,966$4,251$3,625$3,081$2,610$1,909
16 years$4,608$3,900$3,286$2,758$2,307$1,645
17 years$4,292$3,592$2,991$2,478$2,045$1,421
18 years$4,011$3,319$2,730$2,233$1,819$1,231
19 years$3,760$3,076$2,499$2,018$1,621$1,069
20 years$3,535$2,858$2,294$1,828$1,448$929
21 years$3,331$2,662$2,110$1,659$1,296$809
22 years$3,146$2,485$1,944$1,508$1,161$706
23 years$2,977$2,324$1,795$1,374$1,043$616
24 years$2,823$2,178$1,660$1,253$937$538
25 years$2,681$2,044$1,538$1,144$843$471
26 years$2,551$1,921$1,426$1,046$760$412
27 years$2,430$1,808$1,324$958$685$361
28 years$2,318$1,703$1,231$877$618$316
29 years$2,214$1,607$1,146$805$558$277
30 years$2,117$1,518$1,067$738$504$243
31 years$2,027$1,435$995$678$456$213
32 years$1,942$1,357$928$623$412$187
33 years$1,862$1,286$867$573$373$164
34 years$1,788$1,218$810$527$338$144
35 years$1,718$1,156$757$485$306$126
36 years$1,652$1,097$708$447$277$111
37 years$1,589$1,042$663$412$251$98
38 years$1,530$990$621$380$228$86
39 years$1,475$941$582$350$207$75
40 years$1,422$896$545$323$187$66
41 years$1,372$853$511$298$170$58
42 years$1,324$812$480$275$154$51
43 years$1,279$774$450$254$140$45
44 years$1,236$738$422$234$127$40
45 years$1,195$703$397$216$115$35
46 years$1,155$671$372$200$105$31
47 years$1,118$640$350$185$95$27
48 years$1,082$611$329$171$86$24
49 years$1,048$584$309$158$78$21
50 years$1,015$558$291$146$71$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $1,040,000, adding $6,221 every year, while hoping to spend $40,264 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: 74/14/12 Blend
52$1,040,000$1,040,000$1,040,000$1,040,000
53$1,152,497$1,097,377$1,081,257$1,234,542
54$1,227,211$1,108,308$1,074,638$1,300,509
55$1,308,197$1,118,425$1,066,449$1,367,137
56$1,396,051$1,127,646$1,056,593$1,439,032
57$1,491,430$1,135,882$1,044,971$1,516,705
58$1,595,057$1,143,042$1,031,478$1,600,716
59$1,707,726$1,149,024$1,016,006$1,691,687
60$1,830,311$1,153,724$998,440$1,790,301
61$1,963,775$1,157,028$978,660$1,897,311
62$2,109,176$1,158,818$956,540$2,013,546
63$2,267,677$1,158,966$931,950$2,139,923
64$2,440,562$1,157,337$904,752$2,277,449
65$2,629,241$1,153,788$874,803$2,427,236
66$2,835,267$1,148,167$841,953$2,590,511
67$3,060,350$1,140,313$806,044$2,768,623
68$3,306,372$1,130,055$766,912$2,963,064
69$3,575,405$1,117,210$724,386$3,175,474
70$3,869,730$1,101,587$678,287$3,407,665
71$4,191,860$1,082,983$628,427$3,661,631
72$4,544,561$1,061,180$574,611$3,939,572
73$4,930,879$1,035,950$516,633$4,243,915
74$5,354,168$1,007,052$454,280$4,577,332
75$5,818,124$974,228$387,329$4,942,772
76$6,326,815$937,208$315,547$5,343,484
77$6,884,723$895,704$238,691$5,783,050
78$7,496,783$849,412$156,506$6,265,419
79$8,168,433$798,011$68,726$6,794,947
80$8,905,661$741,161$0$7,376,431
81$9,715,064$678,503$0$8,018,358
82$10,603,908$609,657$0$8,732,964
83$11,580,198$534,222$0$9,517,910
84$12,652,752$451,773$0$10,380,323
85$13,831,286$361,863$0$11,328,060
86$15,126,500$264,017$0$12,369,779
87$16,550,186$157,737$0$13,515,021
88$18,115,332$42,493$0$14,774,300
89$19,836,249$0$0$16,159,205
90$21,728,704$0$0$17,695,181
91$23,810,069$0$0$19,391,731
92$26,099,480$0$0$21,257,916
93$28,618,027$0$0$23,310,932
94$31,388,942$0$0$25,569,723
95$34,437,825$0$0$28,055,164
96$37,792,880$0$0$30,790,257
97$41,485,187$0$0$33,800,343
98$45,548,988$0$0$37,113,347
99$50,022,015$0$0$40,760,036
100$54,945,842$0$0$44,774,313