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%14.5%
1 years$80,680$79,961$79,260$78,576$77,907$76,459
2 years$39,940$39,197$38,476$37,777$37,099$35,645
3 years$26,362$25,615$24,896$24,204$23,537$22,124
4 years$19,575$18,830$18,118$17,438$16,787$15,424
5 years$15,503$14,763$14,060$13,394$12,761$11,453
6 years$12,790$12,055$11,363$10,711$10,097$8,845
7 years$10,852$10,124$9,443$8,806$8,212$7,016
8 years$9,400$8,678$8,008$7,387$6,813$5,673
9 years$8,271$7,556$6,897$6,292$5,737$4,653
10 years$7,368$6,660$6,013$5,424$4,888$3,859
11 years$6,630$5,929$5,294$4,721$4,204$3,228
12 years$6,015$5,322$4,698$4,141$3,643$2,719
13 years$5,496$4,809$4,198$3,655$3,177$2,303
14 years$5,051$4,371$3,772$3,245$2,785$1,960
15 years$4,665$3,993$3,405$2,894$2,452$1,674
16 years$4,328$3,664$3,087$2,591$2,167$1,435
17 years$4,032$3,374$2,809$2,328$1,922$1,233
18 years$3,768$3,118$2,565$2,098$1,709$1,062
19 years$3,532$2,890$2,348$1,896$1,523$916
20 years$3,321$2,685$2,155$1,717$1,360$792
21 years$3,129$2,501$1,982$1,558$1,217$685
22 years$2,955$2,335$1,827$1,417$1,091$594
23 years$2,797$2,184$1,687$1,290$979$515
24 years$2,652$2,046$1,560$1,177$880$447
25 years$2,519$1,920$1,445$1,075$792$389
26 years$2,396$1,805$1,340$983$714$338
27 years$2,283$1,698$1,244$900$643$294
28 years$2,178$1,600$1,157$824$580$256
29 years$2,080$1,510$1,076$756$524$223
30 years$1,989$1,426$1,003$694$474$194
31 years$1,904$1,348$935$637$428$169
32 years$1,824$1,275$872$585$387$147
33 years$1,750$1,208$814$538$351$129
34 years$1,680$1,145$761$495$317$112
35 years$1,614$1,086$711$456$287$98
36 years$1,552$1,030$665$420$260$85
37 years$1,493$979$623$387$236$74
38 years$1,438$930$583$357$214$65
39 years$1,385$884$546$329$194$57
40 years$1,336$841$512$303$176$49
41 years$1,289$801$480$280$160$43
42 years$1,244$763$450$258$145$38
43 years$1,201$727$423$238$132$33
44 years$1,161$693$397$220$119$29
45 years$1,122$661$373$203$108$25
46 years$1,085$630$350$188$98$22
47 years$1,050$601$329$173$89$19
48 years$1,017$574$309$160$81$17
49 years$985$548$290$148$74$15
50 years$954$524$273$137$67$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $977,000, adding $2,177 every year, while hoping to spend $42,415 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: 57/27/16 Blend
52$977,000$977,000$977,000$977,000
53$1,078,900$1,027,119$1,011,975$1,135,779
54$1,143,818$1,032,318$1,000,747$1,179,808
55$1,213,937$1,036,351$987,721$1,222,949
56$1,289,741$1,039,115$972,793$1,268,992
57$1,371,765$1,040,502$955,852$1,318,222
58$1,460,595$1,040,397$936,783$1,370,956
59$1,556,877$1,038,677$915,466$1,427,546
60$1,661,319$1,035,213$891,775$1,488,379
61$1,774,702$1,029,867$865,578$1,553,885
62$1,897,884$1,022,492$836,737$1,624,538
63$2,031,808$1,012,935$805,108$1,700,864
64$2,177,514$1,001,030$770,540$1,783,443
65$2,336,142$986,603$732,875$1,872,919
66$2,508,952$969,469$691,950$1,970,001
67$2,697,326$949,434$647,590$2,075,474
68$2,902,786$926,289$599,618$2,190,207
69$3,127,008$899,815$547,843$2,315,159
70$3,371,838$869,781$492,071$2,451,391
71$3,639,306$835,940$432,095$2,600,075
72$3,931,646$798,033$367,702$2,762,506
73$4,251,321$755,784$298,667$2,940,115
74$4,601,040$708,901$224,757$3,134,484
75$4,983,787$657,079$145,727$3,347,360
76$5,402,848$599,990$61,323$3,580,672
77$5,861,841$537,291$0$3,836,551
78$6,364,749$468,620$0$4,122,261
79$6,915,962$393,590$0$4,446,984
80$7,520,312$311,798$0$4,803,161
81$8,183,122$222,814$0$5,194,013
82$8,910,253$126,185$0$5,623,094
83$9,708,165$21,434$0$6,094,325
84$10,583,969$0$0$6,612,031
85$11,545,501$0$0$7,208,299
86$12,601,391$0$0$7,870,163
87$13,761,146$0$0$8,597,226
88$15,035,241$0$0$9,396,064
89$16,435,212$0$0$10,273,925
90$17,973,772$0$0$11,238,791
91$19,664,923$0$0$12,299,456
92$21,524,092$0$0$13,465,609
93$23,568,278$0$0$14,747,926
94$25,816,206$0$0$16,158,168
95$28,288,507$0$0$17,709,291
96$31,007,912$0$0$19,415,573
97$33,999,468$0$0$21,292,744
98$37,290,767$0$0$23,358,135
99$40,912,215$0$0$25,630,842
100$44,897,311$0$0$28,131,906