Can I retire at age 53 with 973,000?

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 $973,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$80,349$79,634$78,935$78,254$77,588$76,906
2 years$39,777$39,036$38,318$37,622$36,947$36,259
3 years$26,255$25,511$24,794$24,105$23,441$22,769
4 years$19,495$18,753$18,044$17,366$16,718$16,068
5 years$15,440$14,703$14,003$13,339$12,709$12,082
6 years$12,737$12,006$11,316$10,667$10,056$9,453
7 years$10,808$10,082$9,404$8,770$8,178$7,599
8 years$9,361$8,642$7,975$7,357$6,785$6,230
9 years$8,237$7,525$6,869$6,267$5,714$5,183
10 years$7,338$6,633$5,989$5,402$4,868$4,361
11 years$6,603$5,905$5,272$4,701$4,187$3,703
12 years$5,991$5,300$4,679$4,124$3,628$3,167
13 years$5,473$4,789$4,180$3,641$3,164$2,725
14 years$5,030$4,353$3,756$3,232$2,773$2,357
15 years$4,646$3,977$3,391$2,882$2,442$2,046
16 years$4,311$3,649$3,075$2,581$2,158$1,783
17 years$4,015$3,360$2,798$2,319$1,914$1,558
18 years$3,752$3,105$2,554$2,090$1,702$1,366
19 years$3,518$2,878$2,338$1,888$1,517$1,199
20 years$3,307$2,674$2,146$1,710$1,355$1,055
21 years$3,116$2,491$1,974$1,552$1,212$930
22 years$2,943$2,325$1,819$1,411$1,087$821
23 years$2,786$2,175$1,680$1,285$975$725
24 years$2,641$2,038$1,553$1,172$877$641
25 years$2,509$1,912$1,439$1,070$789$568
26 years$2,386$1,797$1,334$979$711$503
27 years$2,273$1,691$1,239$896$641$446
28 years$2,169$1,594$1,152$821$578$396
29 years$2,071$1,503$1,072$753$522$352
30 years$1,981$1,420$998$691$472$313
31 years$1,896$1,342$931$634$426$278
32 years$1,817$1,270$868$583$386$247
33 years$1,743$1,203$811$536$349$220
34 years$1,673$1,140$758$493$316$196
35 years$1,607$1,081$708$454$286$174
36 years$1,545$1,026$663$418$259$155
37 years$1,487$975$620$385$235$138
38 years$1,432$926$581$355$213$123
39 years$1,380$881$544$328$193$109
40 years$1,330$838$510$302$175$98
41 years$1,283$798$478$279$159$87
42 years$1,239$760$449$257$144$77
43 years$1,196$724$421$237$131$69
44 years$1,156$690$395$219$119$62
45 years$1,118$658$371$202$108$55
46 years$1,081$628$348$187$98$49
47 years$1,046$599$327$173$89$44
48 years$1,013$572$308$160$81$39
49 years$981$546$289$148$73$35
50 years$950$522$272$136$67$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $973,000, adding $4,677 every year, while hoping to spend $28,126 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: 59/18/23 Blend
52$973,000$973,000$973,000$973,000
53$1,077,070$1,025,501$1,010,420$1,133,737
54$1,157,006$1,045,825$1,014,343$1,193,144
55$1,244,152$1,066,202$1,017,455$1,254,465
56$1,339,214$1,086,605$1,019,699$1,320,733
57$1,442,970$1,107,005$1,021,015$1,392,435
58$1,556,275$1,127,370$1,021,341$1,470,105
59$1,680,069$1,147,665$1,020,610$1,554,334
60$1,815,390$1,167,854$1,018,754$1,645,772
61$1,963,378$1,187,897$1,015,700$1,745,137
62$2,125,289$1,207,751$1,011,373$1,853,219
63$2,302,508$1,227,370$1,005,693$1,970,889
64$2,496,556$1,246,703$998,576$2,099,110
65$2,709,112$1,265,699$989,936$2,238,941
66$2,942,023$1,284,300$979,680$2,391,551
67$3,197,323$1,302,444$967,713$2,558,228
68$3,477,252$1,320,066$953,934$2,740,393
69$3,784,280$1,337,097$938,238$2,939,613
70$4,121,123$1,353,462$920,516$3,157,614
71$4,490,775$1,369,079$900,651$3,396,300
72$4,896,535$1,383,865$878,524$3,657,772
73$5,342,036$1,397,728$854,008$3,944,344
74$5,831,278$1,410,572$826,972$4,258,568
75$6,368,670$1,422,291$797,277$4,603,258
76$6,959,067$1,432,777$764,779$4,981,517
77$7,607,821$1,441,911$729,328$5,396,764
78$8,320,823$1,449,570$690,765$5,852,771
79$9,104,567$1,455,619$648,926$6,353,695
80$9,966,207$1,459,918$603,639$6,904,119
81$10,913,622$1,462,316$554,723$7,509,097
82$11,955,496$1,462,654$501,990$8,174,199
83$13,101,394$1,460,762$445,245$8,905,565
84$14,361,857$1,456,460$384,281$9,709,967
85$15,748,497$1,449,557$318,885$10,594,868
86$17,274,109$1,439,850$248,833$11,568,494
87$18,952,790$1,427,125$173,891$12,639,917
88$20,800,073$1,411,152$93,814$13,819,135
89$22,833,073$1,391,691$8,350$15,117,168
90$25,070,648$1,368,486$0$16,546,168
91$27,533,577$1,341,264$0$18,139,860
92$30,244,754$1,309,739$0$19,896,183
93$33,229,409$1,273,606$0$21,829,429
94$36,515,338$1,232,542$0$23,957,613
95$40,133,173$1,186,207$0$26,300,583
96$44,116,665$1,134,239$0$28,880,216
97$48,503,006$1,076,258$0$31,720,620
98$53,333,176$1,011,858$0$34,848,364
99$58,652,333$940,612$0$38,292,727
100$64,510,239$862,070$0$42,085,977