Can I retire at age 53 with 970,000?

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 $970,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.2%
1 years$80,102$79,388$78,692$78,013$77,349$75,084
2 years$39,654$38,916$38,200$37,506$36,833$34,569
3 years$26,174$25,432$24,718$24,030$23,368$21,177
4 years$19,435$18,695$17,988$17,313$16,666$14,564
5 years$15,392$14,657$13,960$13,298$12,670$10,662
6 years$12,698$11,969$11,282$10,634$10,025$8,114
7 years$10,775$10,051$9,375$8,743$8,153$6,339
8 years$9,333$8,616$7,951$7,334$6,764$5,045
9 years$8,212$7,502$6,848$6,247$5,696$4,071
10 years$7,315$6,612$5,970$5,385$4,853$3,320
11 years$6,583$5,887$5,256$4,687$4,174$2,730
12 years$5,972$5,283$4,665$4,111$3,617$2,259
13 years$5,456$4,775$4,168$3,629$3,154$1,879
14 years$5,015$4,340$3,745$3,222$2,765$1,570
15 years$4,632$3,965$3,381$2,873$2,434$1,316
16 years$4,297$3,638$3,065$2,573$2,152$1,106
17 years$4,003$3,350$2,789$2,311$1,908$932
18 years$3,741$3,096$2,546$2,083$1,696$787
19 years$3,507$2,869$2,331$1,882$1,512$666
20 years$3,297$2,666$2,139$1,705$1,350$564
21 years$3,107$2,483$1,968$1,547$1,209$478
22 years$2,934$2,318$1,814$1,407$1,083$406
23 years$2,777$2,168$1,674$1,281$972$344
24 years$2,633$2,031$1,549$1,168$874$293
25 years$2,501$1,906$1,434$1,067$786$249
26 years$2,379$1,792$1,330$976$708$212
27 years$2,266$1,686$1,235$893$639$180
28 years$2,162$1,589$1,148$818$576$154
29 years$2,065$1,499$1,069$750$520$131
30 years$1,975$1,415$995$689$470$111
31 years$1,890$1,338$928$632$425$95
32 years$1,811$1,266$866$581$385$81
33 years$1,737$1,199$808$535$348$69
34 years$1,668$1,136$755$492$315$59
35 years$1,602$1,078$706$453$285$50
36 years$1,541$1,023$661$417$259$43
37 years$1,482$972$618$384$234$36
38 years$1,427$923$579$354$212$31
39 years$1,375$878$542$326$193$27
40 years$1,326$835$508$301$175$23
41 years$1,279$795$477$278$159$19
42 years$1,235$757$447$256$144$16
43 years$1,193$722$420$237$131$14
44 years$1,152$688$394$219$119$12
45 years$1,114$656$370$202$108$10
46 years$1,078$626$347$186$98$9
47 years$1,043$597$326$172$89$7
48 years$1,009$570$307$159$81$6
49 years$978$544$288$147$73$5
50 years$947$520$271$136$66$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $970,000, adding $5,802 every year, while hoping to spend $53,237 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: 32/50/18 Blend
52$970,000$970,000$970,000$970,000
53$1,074,925$1,023,515$1,008,480$1,103,124
54$1,127,923$1,017,023$985,620$1,118,113
55$1,184,543$1,008,429$960,210$1,128,957
56$1,245,098$997,574$932,109$1,139,506
57$1,309,931$984,288$901,168$1,149,765
58$1,379,419$968,393$867,231$1,159,742
59$1,453,975$949,699$830,138$1,169,456
60$1,534,051$928,005$789,719$1,178,928
61$1,620,147$903,100$745,797$1,188,191
62$1,712,807$874,757$698,186$1,197,284
63$1,812,632$842,738$646,694$1,206,257
64$1,920,280$806,792$591,118$1,215,175
65$2,036,475$766,651$531,247$1,224,112
66$2,162,012$722,034$466,860$1,233,160
67$2,297,765$672,642$397,728$1,242,429
68$2,444,695$618,159$323,610$1,252,047
69$2,603,857$558,252$244,254$1,262,164
70$2,776,413$492,569$159,399$1,272,957
71$2,963,638$420,736$68,770$1,284,629
72$3,166,938$342,361$0$1,297,417
73$3,387,856$257,026$0$1,316,959
74$3,628,091$164,294$0$1,352,642
75$3,889,512$63,701$0$1,391,661
76$4,174,176$0$0$1,434,482
77$4,484,346$0$0$1,506,527
78$4,822,511$0$0$1,623,421
79$5,191,414$0$0$1,751,079
80$5,594,070$0$0$1,890,563
81$6,033,801$0$0$2,043,043
82$6,514,262$0$0$2,209,804
83$7,039,478$0$0$2,392,264
84$7,613,880$0$0$2,591,982
85$8,242,347$0$0$2,810,675
86$8,930,250$0$0$3,050,237
87$9,683,507$0$0$3,312,749
88$10,508,630$0$0$3,600,506
89$11,412,794$0$0$3,916,035
90$12,403,900$0$0$4,262,118
91$13,490,649$0$0$4,641,822
92$14,682,625$0$0$5,058,521
93$15,990,384$0$0$5,515,936
94$17,425,555$0$0$6,018,163
95$19,000,943$0$0$6,569,714
96$20,730,657$0$0$7,175,561
97$22,630,239$0$0$7,841,180
98$24,716,806$0$0$8,572,604
99$27,009,220$0$0$9,376,480
100$29,528,256$0$0$10,260,129