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%18.2%
1 years$80,432$79,716$79,017$78,334$77,668$75,092
2 years$39,818$39,076$38,358$37,661$36,985$34,414
3 years$26,282$25,537$24,820$24,130$23,465$20,980
4 years$19,515$18,772$18,063$17,384$16,735$14,356
5 years$15,456$14,718$14,017$13,353$12,722$10,455
6 years$12,751$12,018$11,328$10,678$10,066$7,913
7 years$10,819$10,093$9,414$8,779$8,187$6,147
8 years$9,371$8,651$7,984$7,365$6,792$4,863
9 years$8,246$7,533$6,876$6,273$5,720$3,901
10 years$7,346$6,640$5,995$5,407$4,873$3,161
11 years$6,610$5,911$5,278$4,706$4,191$2,582
12 years$5,997$5,305$4,684$4,128$3,632$2,123
13 years$5,479$4,794$4,185$3,644$3,167$1,754
14 years$5,035$4,358$3,760$3,235$2,776$1,455
15 years$4,651$3,981$3,395$2,885$2,445$1,211
16 years$4,315$3,653$3,078$2,583$2,160$1,011
17 years$4,019$3,364$2,801$2,321$1,916$846
18 years$3,756$3,108$2,557$2,092$1,703$709
19 years$3,521$2,881$2,341$1,890$1,518$595
20 years$3,310$2,677$2,148$1,712$1,356$500
21 years$3,120$2,494$1,976$1,554$1,214$421
22 years$2,946$2,328$1,821$1,413$1,088$354
23 years$2,788$2,177$1,681$1,286$976$298
24 years$2,644$2,040$1,555$1,173$878$252
25 years$2,511$1,914$1,440$1,072$790$212
26 years$2,389$1,799$1,336$980$711$179
27 years$2,276$1,693$1,240$897$641$151
28 years$2,171$1,595$1,153$822$579$128
29 years$2,073$1,505$1,073$753$523$108
30 years$1,983$1,421$999$691$472$91
31 years$1,898$1,344$932$635$427$77
32 years$1,819$1,271$869$584$386$65
33 years$1,744$1,204$812$537$349$55
34 years$1,674$1,141$758$494$316$47
35 years$1,609$1,082$709$455$287$39
36 years$1,547$1,027$663$419$260$33
37 years$1,489$976$621$386$235$28
38 years$1,433$927$581$356$213$24
39 years$1,381$882$545$328$193$20
40 years$1,332$839$511$302$175$17
41 years$1,285$799$479$279$159$14
42 years$1,240$761$449$257$144$12
43 years$1,198$725$421$238$131$10
44 years$1,157$691$396$219$119$9
45 years$1,119$659$371$203$108$7
46 years$1,082$628$349$187$98$6
47 years$1,047$600$328$173$89$5
48 years$1,014$572$308$160$81$4
49 years$982$547$289$148$73$4
50 years$951$522$272$137$67$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $974,000, adding $3,161 every year, while hoping to spend $32,193 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: 70/12/18 Blend
52$974,000$974,000$974,000$974,000
53$1,076,609$1,024,987$1,009,890$1,147,119
54$1,152,170$1,040,958$1,009,468$1,210,464
55$1,234,359$1,056,633$1,007,953$1,275,646
56$1,323,818$1,071,963$1,005,274$1,346,180
57$1,421,255$1,086,896$1,001,358$1,422,589
58$1,527,445$1,101,376$996,126$1,505,453
59$1,643,246$1,115,345$989,498$1,595,408
60$1,769,599$1,128,738$981,387$1,693,159
61$1,907,539$1,141,488$971,705$1,799,478
62$2,058,209$1,153,522$960,358$1,915,221
63$2,222,865$1,164,763$947,249$2,041,328
64$2,402,889$1,175,128$932,274$2,178,836
65$2,599,805$1,184,530$915,325$2,328,890
66$2,815,288$1,192,875$896,292$2,492,749
67$3,051,184$1,200,064$875,055$2,671,805
68$3,309,528$1,205,989$851,492$2,867,588
69$3,592,557$1,210,540$825,474$3,081,788
70$3,902,737$1,213,595$796,866$3,316,267
71$4,242,782$1,215,028$765,528$3,573,076
72$4,615,685$1,214,703$731,312$3,854,479
73$5,024,738$1,212,477$694,064$4,162,970
74$5,473,569$1,208,196$653,623$4,501,299
75$5,966,175$1,201,700$609,821$4,872,496
76$6,506,957$1,192,815$562,483$5,279,903
77$7,100,764$1,181,361$511,423$5,727,203
78$7,752,938$1,167,143$456,452$6,218,457
79$8,469,362$1,149,957$397,367$6,758,141
80$9,256,518$1,129,587$333,960$7,351,189
81$10,121,548$1,105,802$266,013$8,003,040
82$11,072,318$1,078,358$193,297$8,719,689
83$12,117,496$1,046,998$115,573$9,507,747
84$13,266,629$1,011,450$32,593$10,374,498
85$14,530,238$971,424$0$11,327,972
86$15,919,913$926,614$0$12,387,771
87$17,448,424$876,698$0$13,560,281
88$19,129,840$821,334$0$14,850,048
89$20,979,664$760,159$0$16,268,984
90$23,014,975$692,792$0$17,830,214
91$25,254,593$618,829$0$19,548,206
92$27,719,252$537,843$0$21,438,901
93$30,431,800$449,382$0$23,519,865
94$33,417,412$352,969$0$25,810,458
95$36,703,825$248,102$0$28,332,013
96$40,321,605$134,248$0$31,108,041
97$44,304,428$10,847$0$34,164,450
98$48,689,405$0$0$37,529,790
99$53,517,427$0$0$41,251,728
100$58,833,550$0$0$45,351,590