Can I retire at age 53 with 971,000?

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 $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%11.2%
1 years$80,184$79,470$78,773$78,093$77,429$77,038
2 years$39,695$38,956$38,239$37,545$36,871$36,476
3 years$26,201$25,458$24,743$24,055$23,392$23,006
4 years$19,455$18,714$18,007$17,330$16,684$16,309
5 years$15,408$14,672$13,974$13,311$12,683$12,321
6 years$12,711$11,981$11,293$10,645$10,035$9,687
7 years$10,786$10,062$9,385$8,752$8,161$7,826
8 years$9,342$8,625$7,959$7,342$6,771$6,449
9 years$8,220$7,509$6,855$6,254$5,702$5,393
10 years$7,323$6,619$5,976$5,391$4,858$4,563
11 years$6,589$5,893$5,261$4,692$4,178$3,896
12 years$5,979$5,289$4,669$4,115$3,621$3,351
13 years$5,462$4,780$4,172$3,633$3,157$2,900
14 years$5,020$4,345$3,748$3,225$2,768$2,523
15 years$4,637$3,969$3,384$2,876$2,437$2,204
16 years$4,302$3,641$3,068$2,575$2,154$1,932
17 years$4,007$3,354$2,792$2,314$1,910$1,699
18 years$3,745$3,099$2,549$2,085$1,698$1,498
19 years$3,511$2,872$2,333$1,884$1,513$1,324
20 years$3,300$2,669$2,141$1,707$1,352$1,173
21 years$3,110$2,486$1,970$1,549$1,210$1,040
22 years$2,937$2,320$1,815$1,408$1,084$924
23 years$2,780$2,170$1,676$1,282$973$822
24 years$2,636$2,033$1,550$1,170$875$732
25 years$2,503$1,908$1,436$1,068$787$653
26 years$2,381$1,793$1,332$977$709$583
27 years$2,269$1,688$1,237$894$639$521
28 years$2,164$1,590$1,150$819$577$465
29 years$2,067$1,500$1,070$751$521$416
30 years$1,977$1,417$996$689$471$373
31 years$1,892$1,339$929$633$426$334
32 years$1,813$1,267$867$582$385$299
33 years$1,739$1,200$809$535$348$268
34 years$1,669$1,138$756$492$315$240
35 years$1,604$1,079$707$453$286$215
36 years$1,542$1,024$661$417$259$193
37 years$1,484$973$619$385$235$173
38 years$1,429$924$580$354$213$155
39 years$1,377$879$543$327$193$140
40 years$1,328$836$509$301$175$125
41 years$1,281$796$477$278$159$113
42 years$1,236$758$448$257$144$101
43 years$1,194$722$420$237$131$91
44 years$1,154$689$394$219$119$82
45 years$1,115$657$370$202$108$73
46 years$1,079$626$348$187$98$66
47 years$1,044$598$327$172$89$59
48 years$1,010$571$307$159$81$53
49 years$979$545$289$147$73$48
50 years$948$521$271$136$67$43

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $971,000, adding $2,245 every year, while hoping to spend $45,946 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: 24/46/30 Blend
52$971,000$971,000$971,000$971,000
53$1,072,358$1,020,895$1,005,844$1,087,970
54$1,132,852$1,022,032$990,654$1,102,730
55$1,197,977$1,021,686$973,415$1,114,530
56$1,268,156$1,019,734$954,009$1,126,223
57$1,343,855$1,016,048$932,316$1,137,833
58$1,425,585$1,010,491$908,205$1,149,389
59$1,513,908$1,002,919$881,544$1,160,928
60$1,609,442$993,177$852,191$1,172,495
61$1,712,866$981,104$820,000$1,184,148
62$1,824,926$966,525$784,817$1,195,951
63$1,946,442$949,258$746,482$1,207,985
64$2,078,317$929,110$704,827$1,220,342
65$2,221,543$905,875$659,677$1,233,132
66$2,377,213$879,335$610,849$1,246,481
67$2,546,526$849,260$558,150$1,260,537
68$2,730,805$815,407$501,381$1,275,470
69$2,931,504$777,518$440,334$1,291,476
70$3,150,221$735,320$374,789$1,308,778
71$3,388,718$688,526$304,519$1,327,632
72$3,648,933$636,829$229,286$1,348,331
73$3,932,999$579,908$148,842$1,371,206
74$4,243,263$517,422$62,926$1,396,633
75$4,582,311$449,011$0$1,425,039
76$4,952,989$374,294$0$1,466,110
77$5,358,428$292,869$0$1,533,280
78$5,802,080$204,312$0$1,607,090
79$6,287,743$108,174$0$1,688,327
80$6,819,600$3,982$0$1,777,870
81$7,402,257$0$0$1,876,694
82$8,040,788$0$0$2,040,940
83$8,740,779$0$0$2,223,374
84$9,508,384$0$0$2,423,606
85$10,350,379$0$0$2,643,425
86$11,274,231$0$0$2,884,803
87$12,288,161$0$0$3,149,912
88$13,401,227$0$0$3,441,144
89$14,623,406$0$0$3,761,134
90$15,965,687$0$0$4,112,787
91$17,440,177$0$0$4,499,301
92$19,060,214$0$0$4,924,200
93$20,840,491$0$0$5,391,367
94$22,797,194$0$0$5,905,079
95$24,948,157$0$0$6,470,050
96$27,313,026$0$0$7,091,471
97$29,913,446$0$0$7,775,063
98$32,773,266$0$0$8,527,130
99$35,918,760$0$0$9,354,617
100$39,378,877$0$0$10,265,176