Can I retire at age 53 with 976,000?

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 $976,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.5%
1 years$80,597$79,879$79,179$78,495$77,828$75,762
2 years$39,900$39,156$38,436$37,738$37,061$34,994
3 years$26,336$25,589$24,871$24,179$23,513$21,510
4 years$19,555$18,811$18,100$17,420$16,770$14,845
5 years$15,487$14,748$14,046$13,380$12,748$10,908
6 years$12,777$12,043$11,351$10,700$10,087$8,333
7 years$10,841$10,113$9,433$8,797$8,203$6,536
8 years$9,390$8,669$8,000$7,380$6,806$5,223
9 years$8,262$7,548$6,890$6,286$5,731$4,233
10 years$7,361$6,653$6,007$5,418$4,883$3,467
11 years$6,623$5,923$5,289$4,716$4,200$2,864
12 years$6,009$5,316$4,693$4,136$3,639$2,381
13 years$5,490$4,804$4,193$3,652$3,174$1,990
14 years$5,046$4,367$3,768$3,242$2,782$1,670
15 years$4,661$3,989$3,402$2,891$2,450$1,407
16 years$4,324$3,660$3,084$2,589$2,165$1,189
17 years$4,027$3,371$2,806$2,326$1,920$1,007
18 years$3,764$3,115$2,562$2,096$1,707$855
19 years$3,529$2,887$2,345$1,894$1,521$727
20 years$3,317$2,682$2,152$1,715$1,359$619
21 years$3,126$2,499$1,980$1,557$1,216$527
22 years$2,952$2,332$1,825$1,415$1,090$450
23 years$2,794$2,181$1,685$1,289$978$384
24 years$2,649$2,044$1,558$1,176$879$328
25 years$2,516$1,918$1,443$1,074$791$281
26 years$2,394$1,803$1,338$982$713$240
27 years$2,280$1,697$1,243$899$643$206
28 years$2,175$1,599$1,155$823$580$176
29 years$2,078$1,508$1,075$755$524$151
30 years$1,987$1,424$1,002$693$473$129
31 years$1,902$1,346$934$636$428$111
32 years$1,822$1,274$871$585$387$95
33 years$1,748$1,206$813$538$350$81
34 years$1,678$1,143$760$495$317$70
35 years$1,612$1,085$711$456$287$60
36 years$1,550$1,029$665$420$260$51
37 years$1,492$978$622$387$236$44
38 years$1,436$929$583$356$214$38
39 years$1,384$884$546$329$194$32
40 years$1,334$841$512$303$176$28
41 years$1,287$800$480$280$160$24
42 years$1,243$762$450$258$145$21
43 years$1,200$726$422$238$131$18
44 years$1,160$692$396$220$119$15
45 years$1,121$660$372$203$108$13
46 years$1,084$630$350$188$98$11
47 years$1,049$601$328$173$89$10
48 years$1,016$574$309$160$81$8
49 years$984$548$290$148$74$7
50 years$953$523$273$137$67$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $976,000, adding $2,651 every year, while hoping to spend $37,886 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: 33/38/29 Blend
52$976,000$976,000$976,000$976,000
53$1,078,287$1,026,559$1,011,431$1,104,308
54$1,147,961$1,036,549$1,005,003$1,134,370
55$1,223,473$1,045,760$997,090$1,163,210
56$1,305,377$1,054,112$987,603$1,193,562
57$1,394,285$1,061,523$976,447$1,225,588
58$1,490,867$1,067,903$963,523$1,259,468
59$1,595,864$1,073,158$948,729$1,295,401
60$1,710,087$1,077,188$931,957$1,333,611
61$1,834,432$1,079,886$913,093$1,374,346
62$1,969,882$1,081,138$892,019$1,417,885
63$2,117,520$1,080,825$868,613$1,464,536
64$2,278,539$1,078,817$842,743$1,514,642
65$2,454,251$1,074,980$814,276$1,568,587
66$2,646,099$1,069,168$783,069$1,626,796
67$2,855,674$1,061,230$748,974$1,689,740
68$3,084,724$1,051,002$711,836$1,757,947
69$3,335,178$1,038,313$671,494$1,831,999
70$3,609,156$1,022,980$627,779$1,912,545
71$3,908,994$1,004,810$580,514$2,000,305
72$4,237,264$983,599$529,514$2,096,076
73$4,596,799$959,129$474,587$2,200,745
74$4,990,717$931,171$415,530$2,315,295
75$5,422,454$899,482$352,134$2,440,814
76$5,895,792$863,805$284,179$2,578,511
77$6,414,899$823,868$211,435$2,729,722
78$6,984,364$779,382$133,662$2,895,932
79$7,609,240$730,043$50,612$3,078,782
80$8,295,098$675,530$0$3,280,090
81$9,048,068$615,502$0$3,513,633
82$9,874,908$549,598$0$3,787,354
83$10,783,060$477,440$0$4,088,129
84$11,780,722$398,624$0$4,418,779
85$12,876,926$312,727$0$4,782,419
86$14,081,621$219,300$0$5,182,487
87$15,405,770$117,869$0$5,622,781
88$16,861,449$7,934$0$6,107,491
89$18,461,961$0$0$6,641,244
90$20,221,967$0$0$7,275,578
91$22,157,615$0$0$7,977,028
92$24,286,699$0$0$8,748,745
93$26,628,823$0$0$9,597,856
94$29,205,587$0$0$10,532,214
95$32,040,791$0$0$11,560,470
96$35,160,657$0$0$12,692,159
97$38,594,078$0$0$13,937,784
98$42,372,890$0$0$15,308,921
99$46,532,171$0$0$16,818,322
100$51,110,571$0$0$18,480,041