Can I retire at age 53 with 1,050,000?

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 $1,050,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$86,708$85,936$85,182$84,447$83,728$82,274
2 years$42,925$42,125$41,351$40,599$39,871$38,410
3 years$28,332$27,529$26,757$26,012$25,296$23,874
4 years$21,037$20,237$19,472$18,740$18,041$16,670
5 years$16,662$15,866$15,111$14,394$13,715$12,397
6 years$13,745$12,956$12,212$11,511$10,852$9,590
7 years$11,663$10,880$10,148$9,464$8,825$7,620
8 years$10,102$9,326$8,606$7,939$7,322$6,172
9 years$8,889$8,120$7,413$6,762$6,166$5,071
10 years$7,919$7,158$6,463$5,829$5,254$4,213
11 years$7,125$6,372$5,690$5,073$4,518$3,531
12 years$6,465$5,719$5,049$4,450$3,915$2,980
13 years$5,906$5,168$4,511$3,929$3,414$2,529
14 years$5,428$4,698$4,053$3,487$2,993$2,157
15 years$5,014$4,292$3,660$3,110$2,635$1,846
16 years$4,652$3,938$3,318$2,785$2,329$1,585
17 years$4,333$3,626$3,019$2,502$2,065$1,365
18 years$4,049$3,351$2,756$2,255$1,836$1,178
19 years$3,796$3,106$2,523$2,037$1,637$1,019
20 years$3,569$2,886$2,316$1,845$1,462$883
21 years$3,363$2,688$2,130$1,675$1,308$766
22 years$3,176$2,509$1,963$1,523$1,173$665
23 years$3,006$2,347$1,813$1,387$1,053$578
24 years$2,850$2,199$1,676$1,265$946$503
25 years$2,707$2,063$1,553$1,155$851$438
26 years$2,575$1,939$1,440$1,056$767$382
27 years$2,453$1,825$1,337$967$691$333
28 years$2,340$1,720$1,243$886$624$291
29 years$2,235$1,622$1,157$812$563$254
30 years$2,137$1,532$1,077$745$509$222
31 years$2,046$1,448$1,004$685$460$194
32 years$1,961$1,371$937$629$416$169
33 years$1,880$1,298$875$579$377$148
34 years$1,805$1,230$818$532$341$129
35 years$1,734$1,167$764$490$309$113
36 years$1,668$1,107$715$451$280$99
37 years$1,605$1,052$669$416$254$87
38 years$1,545$1,000$627$383$230$76
39 years$1,489$951$587$353$209$66
40 years$1,436$904$550$326$189$58
41 years$1,385$861$516$301$172$51
42 years$1,337$820$484$278$156$44
43 years$1,291$781$454$256$141$39
44 years$1,248$745$426$237$128$34
45 years$1,206$710$400$218$116$30
46 years$1,167$677$376$202$106$26
47 years$1,129$646$353$186$96$23
48 years$1,093$617$332$172$87$20
49 years$1,058$589$312$159$79$17
50 years$1,025$563$293$147$72$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $1,050,000, adding $5,559 every year, while hoping to spend $58,670 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: 67/5/28 Blend
52$1,050,000$1,050,000$1,050,000$1,050,000
53$1,162,834$1,107,184$1,090,909$1,231,866
54$1,219,019$1,099,012$1,065,030$1,270,896
55$1,278,968$1,088,472$1,036,318$1,306,455
56$1,343,004$1,075,389$1,004,615$1,344,038
57$1,411,479$1,059,571$969,759$1,383,847
58$1,484,780$1,040,821$931,576$1,426,109
59$1,563,332$1,018,926$889,889$1,471,073
60$1,647,600$993,661$844,508$1,519,018
61$1,738,095$964,790$795,239$1,570,253
62$1,835,377$932,062$741,876$1,625,117
63$1,940,062$895,209$684,205$1,683,991
64$2,052,826$853,951$622,003$1,747,293
65$2,174,410$807,991$555,036$1,815,488
66$2,305,629$757,012$483,059$1,889,092
67$2,447,380$700,683$405,819$1,968,675
68$2,600,647$638,650$323,048$2,054,868
69$2,766,512$570,542$234,468$2,148,371
70$2,946,163$495,966$139,790$2,249,956
71$3,140,909$414,506$38,711$2,360,481
72$3,352,188$325,723$0$2,480,893
73$3,581,581$229,153$0$2,632,901
74$3,830,827$124,306$0$2,810,689
75$4,101,840$10,666$0$3,004,063
76$4,396,724$0$0$3,214,548
77$4,717,797$0$0$3,450,004
78$5,067,606$0$0$3,707,232
79$5,448,956$0$0$3,987,715
80$5,864,934$0$0$4,293,732
81$6,318,938$0$0$4,627,788
82$6,814,708$0$0$4,992,646
83$7,356,359$0$0$5,391,343
84$7,948,426$0$0$5,827,225
85$8,595,898$0$0$6,303,974
86$9,304,268$0$0$6,825,647
87$10,079,588$0$0$7,396,708
88$10,928,518$0$0$8,022,076
89$11,858,395$0$0$8,707,164
90$12,877,296$0$0$9,457,936
91$13,994,121$0$0$10,280,961
92$15,218,666$0$0$11,183,471
93$16,561,725$0$0$12,173,433
94$18,035,185$0$0$13,259,623
95$19,652,139$0$0$14,451,706
96$21,427,010$0$0$15,760,329
97$23,375,683$0$0$17,197,219
98$25,515,659$0$0$18,775,297
99$27,866,216$0$0$20,508,793
100$30,448,591$0$0$22,413,386