Can I retire at age 53 with 971,000?

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 $971,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.2%
1 years$80,184$79,470$78,773$78,093$77,429$75,773
2 years$39,695$38,956$38,239$37,545$36,871$35,210
3 years$26,201$25,458$24,743$24,055$23,392$21,779
4 years$19,455$18,714$18,007$17,330$16,684$15,131
5 years$15,408$14,672$13,974$13,311$12,683$11,194
6 years$12,711$11,981$11,293$10,645$10,035$8,612
7 years$10,786$10,062$9,385$8,752$8,161$6,805
8 years$9,342$8,625$7,959$7,342$6,771$5,480
9 years$8,220$7,509$6,855$6,254$5,702$4,476
10 years$7,323$6,619$5,976$5,391$4,858$3,696
11 years$6,589$5,893$5,261$4,692$4,178$3,078
12 years$5,979$5,289$4,669$4,115$3,621$2,581
13 years$5,462$4,780$4,172$3,633$3,157$2,176
14 years$5,020$4,345$3,748$3,225$2,768$1,843
15 years$4,637$3,969$3,384$2,876$2,437$1,567
16 years$4,302$3,641$3,068$2,575$2,154$1,336
17 years$4,007$3,354$2,792$2,314$1,910$1,142
18 years$3,745$3,099$2,549$2,085$1,698$979
19 years$3,511$2,872$2,333$1,884$1,513$840
20 years$3,300$2,669$2,141$1,707$1,352$722
21 years$3,110$2,486$1,970$1,549$1,210$622
22 years$2,937$2,320$1,815$1,408$1,084$536
23 years$2,780$2,170$1,676$1,282$973$462
24 years$2,636$2,033$1,550$1,170$875$399
25 years$2,503$1,908$1,436$1,068$787$345
26 years$2,381$1,793$1,332$977$709$298
27 years$2,269$1,688$1,237$894$639$258
28 years$2,164$1,590$1,150$819$577$223
29 years$2,067$1,500$1,070$751$521$193
30 years$1,977$1,417$996$689$471$168
31 years$1,892$1,339$929$633$426$145
32 years$1,813$1,267$867$582$385$126
33 years$1,739$1,200$809$535$348$109
34 years$1,669$1,138$756$492$315$95
35 years$1,604$1,079$707$453$286$82
36 years$1,542$1,024$661$417$259$71
37 years$1,484$973$619$385$235$62
38 years$1,429$924$580$354$213$53
39 years$1,377$879$543$327$193$46
40 years$1,328$836$509$301$175$40
41 years$1,281$796$477$278$159$35
42 years$1,236$758$448$257$144$30
43 years$1,194$722$420$237$131$26
44 years$1,154$689$394$219$119$23
45 years$1,115$657$370$202$108$20
46 years$1,079$626$348$187$98$17
47 years$1,044$598$327$172$89$15
48 years$1,010$571$307$159$81$13
49 years$979$545$289$147$73$11
50 years$948$521$271$136$67$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $971,000, adding $5,240 every year, while hoping to spend $21,265 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: 47/30/23 Blend
52$971,000$971,000$971,000$971,000
53$1,075,447$1,023,984$1,008,934$1,118,713
54$1,162,517$1,051,533$1,020,107$1,177,108
55$1,257,755$1,079,720$1,030,942$1,237,931
56$1,361,972$1,108,553$1,041,405$1,303,522
57$1,476,062$1,138,040$1,051,460$1,374,337
58$1,601,006$1,168,190$1,061,070$1,450,878
59$1,737,887$1,199,010$1,070,195$1,533,699
60$1,887,898$1,230,508$1,078,793$1,623,411
61$2,052,352$1,262,691$1,086,821$1,720,684
62$2,232,695$1,295,566$1,094,232$1,826,261
63$2,430,519$1,329,138$1,100,978$1,940,955
64$2,647,579$1,363,412$1,107,008$2,065,665
65$2,885,807$1,398,395$1,112,268$2,201,380
66$3,147,332$1,434,089$1,116,701$2,349,192
67$3,434,499$1,470,498$1,120,249$2,510,301
68$3,749,890$1,507,624$1,122,850$2,686,032
69$4,096,351$1,545,470$1,124,437$2,877,842
70$4,477,015$1,584,035$1,124,943$3,087,340
71$4,895,337$1,623,319$1,124,295$3,316,296
72$5,355,120$1,663,320$1,122,417$3,566,664
73$5,860,556$1,704,036$1,119,232$3,840,593
74$6,416,261$1,745,462$1,114,654$4,140,454
75$7,027,323$1,787,593$1,108,598$4,468,859
76$7,699,346$1,830,422$1,100,973$4,828,688
77$8,438,505$1,873,938$1,091,681$5,223,114
78$9,251,605$1,918,133$1,080,624$5,655,633
79$10,146,140$1,962,993$1,067,697$6,130,098
80$11,130,370$2,008,503$1,052,788$6,650,758
81$12,213,395$2,054,648$1,035,784$7,222,292
82$13,405,242$2,101,406$1,016,564$7,849,859
83$14,716,959$2,148,758$995,001$8,539,145
84$16,160,720$2,196,677$970,964$9,296,416
85$17,749,936$2,245,138$944,315$10,128,578
86$19,499,389$2,294,109$914,909$11,043,242
87$21,425,364$2,343,557$882,595$12,048,797
88$23,545,804$2,393,444$847,215$13,154,486
89$25,880,483$2,443,730$808,604$14,370,501
90$28,451,190$2,494,370$766,589$15,708,071
91$31,281,931$2,545,315$720,991$17,179,571
92$34,399,163$2,596,510$671,619$18,798,644
93$37,832,037$2,647,898$618,277$20,580,321
94$41,612,675$2,699,415$560,759$22,541,173
95$45,776,474$2,750,993$498,851$24,699,460
96$50,362,438$2,802,555$432,326$27,075,306
97$55,413,548$2,854,022$360,951$29,690,894
98$60,977,168$2,905,307$284,480$32,570,667
99$67,105,487$2,956,315$202,658$35,741,567
100$73,856,017$3,006,944$115,217$39,233,287