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%11.3%
1 years$80,349$79,634$78,935$78,254$77,588$77,164
2 years$39,777$39,036$38,318$37,622$36,947$36,519
3 years$26,255$25,511$24,794$24,105$23,441$23,022
4 years$19,495$18,753$18,044$17,366$16,718$16,312
5 years$15,440$14,703$14,003$13,339$12,709$12,317
6 years$12,737$12,006$11,316$10,667$10,056$9,678
7 years$10,808$10,082$9,404$8,770$8,178$7,815
8 years$9,361$8,642$7,975$7,357$6,785$6,436
9 years$8,237$7,525$6,869$6,267$5,714$5,379
10 years$7,338$6,633$5,989$5,402$4,868$4,548
11 years$6,603$5,905$5,272$4,701$4,187$3,881
12 years$5,991$5,300$4,679$4,124$3,628$3,336
13 years$5,473$4,789$4,180$3,641$3,164$2,885
14 years$5,030$4,353$3,756$3,232$2,773$2,508
15 years$4,646$3,977$3,391$2,882$2,442$2,190
16 years$4,311$3,649$3,075$2,581$2,158$1,918
17 years$4,015$3,360$2,798$2,319$1,914$1,686
18 years$3,752$3,105$2,554$2,090$1,702$1,486
19 years$3,518$2,878$2,338$1,888$1,517$1,312
20 years$3,307$2,674$2,146$1,710$1,355$1,161
21 years$3,116$2,491$1,974$1,552$1,212$1,029
22 years$2,943$2,325$1,819$1,411$1,087$914
23 years$2,786$2,175$1,680$1,285$975$812
24 years$2,641$2,038$1,553$1,172$877$723
25 years$2,509$1,912$1,439$1,070$789$644
26 years$2,386$1,797$1,334$979$711$575
27 years$2,273$1,691$1,239$896$641$513
28 years$2,169$1,594$1,152$821$578$458
29 years$2,071$1,503$1,072$753$522$409
30 years$1,981$1,420$998$691$472$366
31 years$1,896$1,342$931$634$426$327
32 years$1,817$1,270$868$583$386$293
33 years$1,743$1,203$811$536$349$262
34 years$1,673$1,140$758$493$316$235
35 years$1,607$1,081$708$454$286$211
36 years$1,545$1,026$663$418$259$189
37 years$1,487$975$620$385$235$169
38 years$1,432$926$581$355$213$152
39 years$1,380$881$544$328$193$136
40 years$1,330$838$510$302$175$122
41 years$1,283$798$478$279$159$110
42 years$1,239$760$449$257$144$98
43 years$1,196$724$421$237$131$88
44 years$1,156$690$395$219$119$79
45 years$1,118$658$371$202$108$71
46 years$1,081$628$348$187$98$64
47 years$1,046$599$327$173$89$57
48 years$1,013$572$308$160$81$51
49 years$981$546$289$148$73$46
50 years$950$522$272$136$67$41

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $973,000, adding $2,376 every year, while hoping to spend $21,918 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: 42/46/12 Blend
52$973,000$973,000$973,000$973,000
53$1,074,697$1,023,128$1,008,046$1,115,961
54$1,160,995$1,049,941$1,018,495$1,171,926
55$1,255,362$1,077,332$1,028,560$1,230,119
56$1,358,596$1,105,309$1,038,204$1,292,648
57$1,471,578$1,133,874$1,047,389$1,359,918
58$1,595,278$1,163,034$1,056,076$1,432,375
59$1,730,764$1,192,790$1,064,222$1,510,510
60$1,879,212$1,223,146$1,071,783$1,594,863
61$2,041,916$1,254,105$1,078,713$1,686,029
62$2,220,304$1,285,669$1,084,962$1,784,663
63$2,415,946$1,317,837$1,090,479$1,891,486
64$2,630,572$1,350,611$1,095,210$2,007,293
65$2,866,088$1,383,989$1,099,097$2,132,957
66$3,124,594$1,417,969$1,102,081$2,269,442
67$3,408,402$1,452,548$1,104,100$2,417,810
68$3,720,058$1,487,723$1,105,087$2,579,229
69$4,062,369$1,523,487$1,104,973$2,754,986
70$4,438,427$1,559,833$1,103,685$2,946,501
71$4,851,635$1,596,754$1,101,148$3,155,335
72$5,305,747$1,634,240$1,097,281$3,383,211
73$5,804,894$1,672,278$1,092,000$3,632,026
74$6,353,629$1,710,857$1,085,219$3,903,869
75$6,956,970$1,749,959$1,076,844$4,201,044
76$7,620,443$1,789,569$1,066,780$4,526,088
77$8,350,136$1,829,666$1,054,926$4,881,799
78$9,152,759$1,870,228$1,041,175$5,271,257
79$10,035,703$1,911,232$1,025,417$5,697,857
80$11,007,113$1,952,650$1,007,536$6,165,344
81$12,075,961$1,994,453$987,411$6,677,839
82$13,252,134$2,036,606$964,914$7,239,887
83$14,546,526$2,079,074$939,913$7,856,497
84$15,971,141$2,121,818$912,269$8,533,188
85$17,539,203$2,164,793$881,837$9,276,042
86$19,265,287$2,207,953$848,463$10,091,764
87$21,165,449$2,251,246$811,990$10,987,739
88$23,257,384$2,294,616$772,250$11,972,111
89$25,560,587$2,338,002$729,071$13,053,853
90$28,096,542$2,381,339$682,270$14,242,853
91$30,888,921$2,424,556$631,657$15,550,010
92$33,963,808$2,467,577$577,035$16,987,337
93$37,349,947$2,510,318$518,196$18,568,070
94$41,079,009$2,552,692$454,923$20,306,800
95$45,185,896$2,594,601$386,991$22,219,606
96$49,709,065$2,635,945$314,163$24,324,209
97$54,690,895$2,676,611$236,193$26,640,140
98$60,178,084$2,716,483$152,823$29,188,925
99$66,222,091$2,755,434$63,786$31,994,285
100$72,879,621$2,793,326$0$35,082,366