Can I retire at age 53 with 970,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%18.8%
1 years$80,102$79,388$78,692$78,013$77,349$74,605
2 years$39,654$38,916$38,200$37,506$36,833$34,097
3 years$26,174$25,432$24,718$24,030$23,368$20,727
4 years$19,435$18,695$17,988$17,313$16,666$14,140
5 years$15,392$14,657$13,960$13,298$12,670$10,265
6 years$12,698$11,969$11,282$10,634$10,025$7,744
7 years$10,775$10,051$9,375$8,743$8,153$5,995
8 years$9,333$8,616$7,951$7,334$6,764$4,726
9 years$8,212$7,502$6,848$6,247$5,696$3,777
10 years$7,315$6,612$5,970$5,385$4,853$3,049
11 years$6,583$5,887$5,256$4,687$4,174$2,481
12 years$5,972$5,283$4,665$4,111$3,617$2,032
13 years$5,456$4,775$4,168$3,629$3,154$1,672
14 years$5,015$4,340$3,745$3,222$2,765$1,381
15 years$4,632$3,965$3,381$2,873$2,434$1,145
16 years$4,297$3,638$3,065$2,573$2,152$951
17 years$4,003$3,350$2,789$2,311$1,908$792
18 years$3,741$3,096$2,546$2,083$1,696$661
19 years$3,507$2,869$2,331$1,882$1,512$552
20 years$3,297$2,666$2,139$1,705$1,350$462
21 years$3,107$2,483$1,968$1,547$1,209$387
22 years$2,934$2,318$1,814$1,407$1,083$324
23 years$2,777$2,168$1,674$1,281$972$272
24 years$2,633$2,031$1,549$1,168$874$228
25 years$2,501$1,906$1,434$1,067$786$192
26 years$2,379$1,792$1,330$976$708$161
27 years$2,266$1,686$1,235$893$639$135
28 years$2,162$1,589$1,148$818$576$114
29 years$2,065$1,499$1,069$750$520$96
30 years$1,975$1,415$995$689$470$80
31 years$1,890$1,338$928$632$425$68
32 years$1,811$1,266$866$581$385$57
33 years$1,737$1,199$808$535$348$48
34 years$1,668$1,136$755$492$315$40
35 years$1,602$1,078$706$453$285$34
36 years$1,541$1,023$661$417$259$28
37 years$1,482$972$618$384$234$24
38 years$1,427$923$579$354$212$20
39 years$1,375$878$542$326$193$17
40 years$1,326$835$508$301$175$14
41 years$1,279$795$477$278$159$12
42 years$1,235$757$447$256$144$10
43 years$1,193$722$420$237$131$9
44 years$1,152$688$394$219$119$7
45 years$1,114$656$370$202$108$6
46 years$1,078$626$347$186$98$5
47 years$1,043$597$326$172$89$4
48 years$1,009$570$307$159$81$4
49 years$978$544$288$147$73$3
50 years$947$520$271$136$66$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $970,000, adding $5,278 every year, while hoping to spend $43,340 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: 38/39/23 Blend
52$970,000$970,000$970,000$970,000
53$1,074,384$1,022,974$1,007,939$1,107,653
54$1,137,858$1,026,987$995,592$1,136,321
55$1,206,354$1,029,743$981,378$1,162,848
56$1,280,337$1,031,136$965,190$1,190,650
57$1,360,322$1,031,052$946,914$1,219,867
58$1,446,871$1,029,369$926,432$1,250,657
59$1,540,603$1,025,960$903,619$1,283,199
60$1,642,200$1,020,687$878,345$1,317,690
61$1,752,410$1,013,406$850,475$1,354,353
62$1,872,056$1,003,964$819,867$1,393,436
63$2,002,045$992,198$786,372$1,435,216
64$2,143,373$977,934$749,834$1,480,004
65$2,297,135$960,991$710,092$1,528,145
66$2,464,538$941,175$666,975$1,580,025
67$2,646,908$918,280$620,306$1,636,072
68$2,845,707$892,090$569,900$1,696,767
69$3,062,540$862,373$515,563$1,762,642
70$3,299,177$828,888$457,093$1,834,290
71$3,557,566$791,376$394,278$1,912,371
72$3,839,849$749,565$326,897$1,997,619
73$4,148,387$703,166$254,721$2,090,850
74$4,485,776$651,876$177,509$2,192,970
75$4,854,879$595,371$95,009$2,304,985
76$5,258,844$533,311$6,959$2,428,013
77$5,701,140$465,337$0$2,563,294
78$6,185,585$391,068$0$2,733,556
79$6,716,386$310,101$0$2,922,184
80$7,298,175$222,014$0$3,129,234
81$7,936,052$126,356$0$3,356,657
82$8,635,638$22,656$0$3,606,613
83$9,403,119$0$0$3,881,488
84$10,245,313$0$0$4,222,366
85$11,169,728$0$0$4,607,334
86$12,184,634$0$0$5,030,127
87$13,299,141$0$0$5,494,561
88$14,523,286$0$0$6,004,834
89$15,868,124$0$0$6,565,575
90$17,345,835$0$0$7,181,881
91$18,969,836$0$0$7,859,369
92$20,754,909$0$0$8,604,226
93$22,717,339$0$0$9,423,270
94$24,875,067$0$0$10,324,010
95$27,247,862$0$0$11,314,723
96$29,857,501$0$0$12,404,524
97$32,727,980$0$0$13,603,460
98$35,885,736$0$0$14,922,598
99$39,359,896$0$0$16,374,132
100$43,182,557$0$0$17,971,501