Can I retire at age 53 with 974,000?

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 $974,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$80,432$79,716$79,017$78,334$77,668$77,308
2 years$39,818$39,076$38,358$37,661$36,985$36,622
3 years$26,282$25,537$24,820$24,130$23,465$23,109
4 years$19,515$18,772$18,063$17,384$16,735$16,391
5 years$15,456$14,718$14,017$13,353$12,722$12,389
6 years$12,751$12,018$11,328$10,678$10,066$9,745
7 years$10,819$10,093$9,414$8,779$8,187$7,878
8 years$9,371$8,651$7,984$7,365$6,792$6,495
9 years$8,246$7,533$6,876$6,273$5,720$5,435
10 years$7,346$6,640$5,995$5,407$4,873$4,601
11 years$6,610$5,911$5,278$4,706$4,191$3,931
12 years$5,997$5,305$4,684$4,128$3,632$3,383
13 years$5,479$4,794$4,185$3,644$3,167$2,930
14 years$5,035$4,358$3,760$3,235$2,776$2,550
15 years$4,651$3,981$3,395$2,885$2,445$2,229
16 years$4,315$3,653$3,078$2,583$2,160$1,956
17 years$4,019$3,364$2,801$2,321$1,916$1,721
18 years$3,756$3,108$2,557$2,092$1,703$1,519
19 years$3,521$2,881$2,341$1,890$1,518$1,343
20 years$3,310$2,677$2,148$1,712$1,356$1,190
21 years$3,120$2,494$1,976$1,554$1,214$1,057
22 years$2,946$2,328$1,821$1,413$1,088$940
23 years$2,788$2,177$1,681$1,286$976$837
24 years$2,644$2,040$1,555$1,173$878$746
25 years$2,511$1,914$1,440$1,072$790$665
26 years$2,389$1,799$1,336$980$711$594
27 years$2,276$1,693$1,240$897$641$531
28 years$2,171$1,595$1,153$822$579$475
29 years$2,073$1,505$1,073$753$523$425
30 years$1,983$1,421$999$691$472$381
31 years$1,898$1,344$932$635$427$341
32 years$1,819$1,271$869$584$386$306
33 years$1,744$1,204$812$537$349$275
34 years$1,674$1,141$758$494$316$246
35 years$1,609$1,082$709$455$287$221
36 years$1,547$1,027$663$419$260$199
37 years$1,489$976$621$386$235$178
38 years$1,433$927$581$356$213$160
39 years$1,381$882$545$328$193$144
40 years$1,332$839$511$302$175$129
41 years$1,285$799$479$279$159$116
42 years$1,240$761$449$257$144$104
43 years$1,198$725$421$238$131$94
44 years$1,157$691$396$219$119$84
45 years$1,119$659$371$203$108$76
46 years$1,082$628$349$187$98$68
47 years$1,047$600$328$173$89$61
48 years$1,014$572$308$160$81$55
49 years$982$547$289$148$73$50
50 years$951$522$272$137$67$45

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $974,000, adding $5,807 every year, while hoping to spend $51,348 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: 55/38/7 Blend
52$974,000$974,000$974,000$974,000
53$1,079,338$1,027,716$1,012,619$1,136,651
54$1,134,797$1,023,440$991,908$1,171,734
55$1,194,191$1,017,234$968,782$1,203,718
56$1,257,868$1,008,948$943,106$1,237,290
57$1,326,210$998,426$914,739$1,272,606
58$1,399,633$985,499$883,533$1,309,843
59$1,478,598$969,990$849,333$1,349,197
60$1,563,607$951,712$811,978$1,390,887
61$1,655,214$930,465$771,298$1,435,158
62$1,754,027$906,038$727,118$1,482,280
63$1,860,713$878,210$679,252$1,532,557
64$1,976,006$846,742$627,507$1,586,324
65$2,100,712$811,386$571,682$1,643,957
66$2,235,718$771,877$511,566$1,705,872
67$2,381,997$727,935$446,940$1,772,533
68$2,540,621$679,265$377,573$1,844,454
69$2,712,769$625,552$303,225$1,922,208
70$2,899,734$566,468$223,647$2,006,430
71$3,102,944$501,661$138,576$2,097,825
72$3,323,965$430,764$47,739$2,197,178
73$3,564,523$353,384$0$2,305,358
74$3,826,515$269,111$0$2,427,004
75$4,112,031$177,509$0$2,563,555
76$4,423,368$78,117$0$2,712,652
77$4,763,057$0$0$2,875,636
78$5,133,882$0$0$3,066,345
79$5,538,908$0$0$3,310,404
80$5,981,511$0$0$3,577,193
81$6,465,404$0$0$3,868,963
82$6,994,678$0$0$4,188,190
83$7,573,837$0$0$4,537,603
84$8,207,840$0$0$4,920,206
85$8,902,148$0$0$5,339,307
86$9,662,774$0$0$5,798,549
87$10,496,341$0$0$6,301,945
88$11,410,142$0$0$6,853,914
89$12,412,211$0$0$7,459,322
90$13,511,396$0$0$8,123,531
91$14,717,442$0$0$8,852,444
92$16,041,082$0$0$9,652,567
93$17,494,141$0$0$10,531,064
94$19,089,644$0$0$11,495,826
95$20,841,938$0$0$12,555,547
96$22,766,827$0$0$13,719,805
97$24,881,725$0$0$14,999,151
98$27,205,811$0$0$16,405,207
99$29,760,218$0$0$17,950,780
100$32,568,226$0$0$19,649,976