Can I retire at age 53 with 1,190,000?

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 $1,190,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$98,269$97,394$96,540$95,706$94,892$94,215
2 years$48,648$47,742$46,864$46,013$45,187$44,504
3 years$32,110$31,200$30,324$29,481$28,668$28,001
4 years$23,842$22,935$22,068$21,239$20,447$19,800
5 years$18,883$17,982$17,126$16,314$15,543$14,919
6 years$15,578$14,683$13,840$13,046$12,299$11,698
7 years$13,218$12,331$11,501$10,726$10,002$9,425
8 years$11,449$10,570$9,754$8,998$8,298$7,744
9 years$10,074$9,203$8,401$7,664$6,988$6,458
10 years$8,975$8,112$7,324$6,607$5,954$5,447
11 years$8,076$7,222$6,448$5,750$5,121$4,637
12 years$7,327$6,482$5,723$5,043$4,437$3,976
13 years$6,694$5,858$5,113$4,452$3,870$3,430
14 years$6,152$5,324$4,594$3,952$3,392$2,974
15 years$5,682$4,864$4,148$3,525$2,987$2,589
16 years$5,272$4,463$3,760$3,156$2,640$2,262
17 years$4,910$4,110$3,422$2,836$2,340$1,983
18 years$4,589$3,798$3,124$2,556$2,081$1,742
19 years$4,302$3,520$2,860$2,309$1,855$1,534
20 years$4,044$3,271$2,624$2,091$1,657$1,354
21 years$3,811$3,046$2,414$1,898$1,483$1,197
22 years$3,600$2,844$2,225$1,726$1,329$1,059
23 years$3,407$2,660$2,054$1,572$1,193$939
24 years$3,230$2,492$1,900$1,433$1,072$833
25 years$3,068$2,339$1,760$1,309$965$740
26 years$2,919$2,198$1,632$1,197$869$658
27 years$2,780$2,069$1,515$1,096$784$585
28 years$2,652$1,949$1,409$1,004$707$521
29 years$2,533$1,839$1,311$921$638$464
30 years$2,422$1,737$1,221$845$577$414
31 years$2,319$1,642$1,138$776$522$369
32 years$2,222$1,553$1,062$713$472$329
33 years$2,131$1,471$992$656$427$294
34 years$2,046$1,394$927$603$387$262
35 years$1,966$1,322$866$555$350$234
36 years$1,890$1,255$810$512$317$209
37 years$1,819$1,192$759$471$288$187
38 years$1,751$1,133$710$434$261$167
39 years$1,687$1,077$666$401$236$149
40 years$1,627$1,025$624$369$214$133
41 years$1,570$976$585$341$195$119
42 years$1,515$929$549$315$176$107
43 years$1,463$885$515$290$160$95
44 years$1,414$844$483$268$145$85
45 years$1,367$805$454$248$132$76
46 years$1,322$768$426$229$120$68
47 years$1,279$733$400$211$109$61
48 years$1,238$699$376$195$99$55
49 years$1,199$668$354$180$90$49
50 years$1,162$638$333$167$82$44

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $1,190,000, adding $2,700 every year, while hoping to spend $57,576 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: 68/5/27 Blend
52$1,190,000$1,190,000$1,190,000$1,190,000
53$1,314,165$1,251,095$1,232,650$1,394,142
54$1,386,949$1,251,138$1,212,683$1,448,293
55$1,465,228$1,249,254$1,190,118$1,500,713
56$1,549,501$1,245,287$1,164,807$1,556,753
57$1,640,316$1,239,072$1,136,594$1,616,774
58$1,738,277$1,230,435$1,105,318$1,681,172
59$1,844,045$1,219,190$1,070,810$1,750,388
60$1,958,348$1,205,141$1,032,892$1,824,907
61$2,081,985$1,188,079$991,380$1,905,265
62$2,215,836$1,167,783$946,080$1,992,056
63$2,360,867$1,144,019$896,789$2,085,935
64$2,518,139$1,116,541$843,296$2,187,627
65$2,688,822$1,085,084$785,379$2,297,932
66$2,874,201$1,049,372$722,808$2,417,733
67$3,075,688$1,009,110$655,341$2,548,008
68$3,294,839$963,987$582,725$2,689,835
69$3,533,365$913,675$504,699$2,844,405
70$3,793,147$857,824$420,985$3,013,035
71$4,076,258$796,067$331,298$3,197,177
72$4,384,977$728,014$235,337$3,398,436
73$4,721,812$653,255$132,788$3,618,583
74$5,089,526$571,354$23,326$3,859,574
75$5,491,159$481,851$0$4,123,568
76$5,930,057$384,262$0$4,439,881
77$6,409,905$278,073$0$4,793,134
78$6,934,759$162,742$0$5,179,609
79$7,509,086$37,698$0$5,602,623
80$8,137,805$0$0$6,065,830
81$8,826,331$0$0$6,578,626
82$9,580,628$0$0$7,142,749
83$10,407,265$0$0$7,761,045
84$11,313,476$0$0$8,438,934
85$12,307,227$0$0$9,182,385
86$13,397,294$0$0$9,997,972
87$14,593,341$0$0$10,892,938
88$15,906,015$0$0$11,875,257
89$17,347,043$0$0$12,953,718
90$18,929,342$0$0$14,137,997
91$20,667,142$0$0$15,438,758
92$22,576,118$0$0$16,867,744
93$24,673,539$0$0$18,437,896
94$26,978,429$0$0$20,163,467
95$29,511,745$0$0$22,060,161
96$32,296,577$0$0$24,145,278
97$35,358,364$0$0$26,437,878
98$38,725,129$0$0$28,958,963
99$42,427,752$0$0$31,731,667
100$46,500,251$0$0$34,781,482