Can I retire at age 53 with 977,000?

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 $977,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.6%
1 years$80,680$79,961$79,260$78,576$77,907$75,504
2 years$39,940$39,197$38,476$37,777$37,099$34,699
3 years$26,362$25,615$24,896$24,204$23,537$21,215
4 years$19,575$18,830$18,118$17,438$16,787$14,561
5 years$15,503$14,763$14,060$13,394$12,761$10,637
6 years$12,790$12,055$11,363$10,711$10,097$8,078
7 years$10,852$10,124$9,443$8,806$8,212$6,296
8 years$9,400$8,678$8,008$7,387$6,813$4,999
9 years$8,271$7,556$6,897$6,292$5,737$4,025
10 years$7,368$6,660$6,013$5,424$4,888$3,274
11 years$6,630$5,929$5,294$4,721$4,204$2,685
12 years$6,015$5,322$4,698$4,141$3,643$2,216
13 years$5,496$4,809$4,198$3,655$3,177$1,839
14 years$5,051$4,371$3,772$3,245$2,785$1,532
15 years$4,665$3,993$3,405$2,894$2,452$1,280
16 years$4,328$3,664$3,087$2,591$2,167$1,073
17 years$4,032$3,374$2,809$2,328$1,922$902
18 years$3,768$3,118$2,565$2,098$1,709$759
19 years$3,532$2,890$2,348$1,896$1,523$640
20 years$3,321$2,685$2,155$1,717$1,360$540
21 years$3,129$2,501$1,982$1,558$1,217$457
22 years$2,955$2,335$1,827$1,417$1,091$386
23 years$2,797$2,184$1,687$1,290$979$327
24 years$2,652$2,046$1,560$1,177$880$277
25 years$2,519$1,920$1,445$1,075$792$235
26 years$2,396$1,805$1,340$983$714$199
27 years$2,283$1,698$1,244$900$643$169
28 years$2,178$1,600$1,157$824$580$143
29 years$2,080$1,510$1,076$756$524$122
30 years$1,989$1,426$1,003$694$474$103
31 years$1,904$1,348$935$637$428$88
32 years$1,824$1,275$872$585$387$75
33 years$1,750$1,208$814$538$351$63
34 years$1,680$1,145$761$495$317$54
35 years$1,614$1,086$711$456$287$46
36 years$1,552$1,030$665$420$260$39
37 years$1,493$979$623$387$236$33
38 years$1,438$930$583$357$214$28
39 years$1,385$884$546$329$194$24
40 years$1,336$841$512$303$176$20
41 years$1,289$801$480$280$160$17
42 years$1,244$763$450$258$145$15
43 years$1,201$727$423$238$132$12
44 years$1,161$693$397$220$119$11
45 years$1,122$661$373$203$108$9
46 years$1,085$630$350$188$98$8
47 years$1,050$601$329$173$89$7
48 years$1,017$574$309$160$81$6
49 years$985$548$290$148$74$5
50 years$954$524$273$137$67$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $977,000, adding $3,922 every year, while hoping to spend $49,127 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: 50/31/19 Blend
52$977,000$977,000$977,000$977,000
53$1,080,700$1,028,919$1,013,775$1,128,836
54$1,138,660$1,027,065$995,466$1,160,660
55$1,200,886$1,023,474$974,897$1,189,859
56$1,267,761$1,018,008$951,940$1,220,545
57$1,339,705$1,010,523$926,462$1,252,877
58$1,417,180$1,000,864$898,324$1,287,030
59$1,500,694$988,868$867,379$1,323,204
60$1,590,803$974,361$833,475$1,361,619
61$1,688,121$957,160$796,452$1,402,521
62$1,793,319$937,070$756,143$1,446,185
63$1,907,137$913,886$712,373$1,492,918
64$2,030,387$887,389$664,960$1,543,060
65$2,163,964$857,349$613,714$1,596,992
66$2,308,850$823,521$558,435$1,655,137
67$2,466,125$785,646$498,915$1,717,965
68$2,636,979$743,451$434,937$1,785,999
69$2,822,717$696,647$366,274$1,859,822
70$3,024,779$644,927$292,689$1,940,080
71$3,244,747$587,969$213,935$2,027,492
72$3,484,362$525,430$129,752$2,122,855
73$3,745,540$456,950$39,872$2,227,054
74$4,030,390$382,145$0$2,341,073
75$4,341,234$300,614$0$2,477,364
76$4,680,625$211,929$0$2,635,138
77$5,051,377$115,642$0$2,807,707
78$5,456,585$11,276$0$2,996,622
79$5,899,658$0$0$3,203,597
80$6,384,350$0$0$3,465,211
81$6,914,792$0$0$3,755,828
82$7,495,535$0$0$4,074,110
83$8,131,591$0$0$4,422,815
84$8,828,477$0$0$4,804,982
85$9,592,270$0$0$5,223,957
86$10,429,663$0$0$5,683,427
87$11,348,029$0$0$6,187,452
88$12,355,486$0$0$6,740,504
89$13,460,977$0$0$7,347,508
90$14,674,354$0$0$8,013,889
91$16,006,466$0$0$8,745,625
92$17,469,266$0$0$9,549,299
93$19,075,921$0$0$10,432,163
94$20,840,936$0$0$11,402,208
95$22,780,289$0$0$12,468,236
96$24,911,584$0$0$13,639,943
97$27,254,214$0$0$14,928,012
98$29,829,544$0$0$16,344,214
99$32,661,113$0$0$17,901,514
100$35,774,854$0$0$19,614,201