Can I retire at age 53 with 1,340,000?

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 $1,340,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.3%
1 years$110,656$109,670$108,709$107,770$106,853$103,268
2 years$54,780$53,760$52,771$51,813$50,883$47,305
3 years$36,157$35,133$34,146$33,197$32,282$28,826
4 years$26,848$25,826$24,850$23,916$23,024$19,715
5 years$21,263$20,248$19,285$18,370$17,502$14,349
6 years$17,542$16,534$15,585$14,691$13,849$10,855
7 years$14,885$13,885$12,951$12,078$11,263$8,427
8 years$12,893$11,902$10,983$10,132$9,344$6,664
9 years$11,344$10,363$9,460$8,630$7,869$5,341
10 years$10,106$9,135$8,248$7,439$6,705$4,326
11 years$9,093$8,132$7,261$6,474$5,766$3,532
12 years$8,250$7,299$6,444$5,679$4,997$2,902
13 years$7,538$6,596$5,757$5,014$4,357$2,396
14 years$6,927$5,996$5,173$4,451$3,820$1,986
15 years$6,399$5,477$4,670$3,969$3,363$1,652
16 years$5,937$5,025$4,234$3,554$2,972$1,378
17 years$5,529$4,628$3,853$3,193$2,635$1,152
18 years$5,168$4,276$3,517$2,878$2,343$965
19 years$4,845$3,963$3,220$2,600$2,089$809
20 years$4,554$3,683$2,955$2,355$1,866$679
21 years$4,292$3,430$2,718$2,137$1,670$571
22 years$4,053$3,202$2,505$1,943$1,496$480
23 years$3,836$2,995$2,313$1,770$1,343$405
24 years$3,637$2,806$2,139$1,614$1,207$341
25 years$3,455$2,633$1,981$1,474$1,086$287
26 years$3,286$2,475$1,838$1,348$979$242
27 years$3,131$2,329$1,706$1,234$882$204
28 years$2,987$2,195$1,586$1,130$796$173
29 years$2,853$2,071$1,476$1,037$719$146
30 years$2,728$1,955$1,375$951$650$123
31 years$2,611$1,849$1,282$874$587$104
32 years$2,502$1,749$1,196$803$531$88
33 years$2,400$1,656$1,117$738$481$74
34 years$2,304$1,570$1,043$679$435$63
35 years$2,213$1,489$976$625$394$53
36 years$2,128$1,413$913$576$357$45
37 years$2,048$1,342$854$531$324$38
38 years$1,972$1,276$800$489$294$32
39 years$1,900$1,213$749$451$266$27
40 years$1,832$1,154$702$416$241$23
41 years$1,767$1,099$659$384$219$19
42 years$1,706$1,046$618$354$199$16
43 years$1,648$997$580$327$180$14
44 years$1,592$950$544$302$164$12
45 years$1,539$906$511$279$149$10
46 years$1,489$864$480$258$135$8
47 years$1,441$825$451$238$123$7
48 years$1,394$788$424$220$111$6
49 years$1,350$752$398$203$101$5
50 years$1,308$718$374$188$92$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $1,340,000, adding $5,723 every year, while hoping to spend $49,266 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: 53/37/10 Blend
52$1,340,000$1,340,000$1,340,000$1,340,000
53$1,482,583$1,411,563$1,390,793$1,557,080
54$1,581,388$1,428,311$1,384,966$1,625,092
55$1,688,620$1,444,229$1,377,293$1,693,231
56$1,805,086$1,459,223$1,367,659$1,766,207
57$1,931,675$1,473,195$1,355,946$1,844,488
58$2,069,364$1,486,039$1,342,028$1,928,590
59$2,219,228$1,497,644$1,325,774$2,019,085
60$2,382,449$1,507,889$1,307,048$2,116,603
61$2,560,331$1,516,647$1,285,706$2,221,840
62$2,754,304$1,523,783$1,261,597$2,335,566
63$2,965,947$1,529,152$1,234,565$2,458,628
64$3,196,995$1,532,602$1,204,444$2,591,964
65$3,449,358$1,533,969$1,171,062$2,736,610
66$3,725,140$1,533,080$1,134,240$2,893,708
67$4,026,655$1,529,752$1,093,788$3,064,520
68$4,356,454$1,523,790$1,049,510$3,250,439
69$4,717,344$1,514,987$1,001,200$3,453,003
70$5,112,414$1,503,123$948,642$3,673,910
71$5,545,071$1,487,966$891,611$3,915,035
72$6,019,060$1,469,269$829,872$4,178,447
73$6,538,511$1,446,770$763,180$4,466,430
74$7,107,969$1,420,192$691,276$4,781,506
75$7,732,442$1,389,241$613,894$5,126,457
76$8,417,444$1,353,607$530,752$5,504,355
77$9,169,049$1,312,959$441,559$5,918,590
78$9,993,948$1,266,951$346,007$6,372,902
79$10,899,512$1,215,212$243,779$6,871,421
80$11,893,857$1,157,352$134,541$7,418,703
81$12,985,927$1,092,960$17,945$8,019,774
82$14,185,574$1,021,597$0$8,680,182
83$15,503,650$942,802$0$9,417,408
84$16,952,111$856,088$0$10,229,627
85$18,544,128$760,938$0$11,122,413
86$20,294,212$656,807$0$12,104,031
87$22,218,350$543,119$0$13,183,594
88$24,334,155$419,266$0$14,371,152
89$26,661,033$284,604$0$15,677,790
90$29,220,363$138,454$0$17,115,731
91$32,035,702$0$0$18,698,456
92$35,133,004$0$0$20,448,931
93$38,540,864$0$0$22,437,094
94$42,290,792$0$0$24,624,975
95$46,417,503$0$0$27,032,847
96$50,959,250$0$0$29,683,051
97$55,958,181$0$0$32,600,199
98$61,460,737$0$0$35,811,416
99$67,518,091$0$0$39,346,586
100$74,186,627$0$0$43,238,638