Can I retire at age 53 with 977,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%11.3%
1 years$80,680$79,961$79,260$78,576$77,907$77,481
2 years$39,940$39,197$38,476$37,777$37,099$36,669
3 years$26,362$25,615$24,896$24,204$23,537$23,117
4 years$19,575$18,830$18,118$17,438$16,787$16,379
5 years$15,503$14,763$14,060$13,394$12,761$12,367
6 years$12,790$12,055$11,363$10,711$10,097$9,718
7 years$10,852$10,124$9,443$8,806$8,212$7,847
8 years$9,400$8,678$8,008$7,387$6,813$6,462
9 years$8,271$7,556$6,897$6,292$5,737$5,401
10 years$7,368$6,660$6,013$5,424$4,888$4,567
11 years$6,630$5,929$5,294$4,721$4,204$3,897
12 years$6,015$5,322$4,698$4,141$3,643$3,350
13 years$5,496$4,809$4,198$3,655$3,177$2,897
14 years$5,051$4,371$3,772$3,245$2,785$2,518
15 years$4,665$3,993$3,405$2,894$2,452$2,199
16 years$4,328$3,664$3,087$2,591$2,167$1,926
17 years$4,032$3,374$2,809$2,328$1,922$1,693
18 years$3,768$3,118$2,565$2,098$1,709$1,492
19 years$3,532$2,890$2,348$1,896$1,523$1,317
20 years$3,321$2,685$2,155$1,717$1,360$1,166
21 years$3,129$2,501$1,982$1,558$1,217$1,034
22 years$2,955$2,335$1,827$1,417$1,091$918
23 years$2,797$2,184$1,687$1,290$979$816
24 years$2,652$2,046$1,560$1,177$880$726
25 years$2,519$1,920$1,445$1,075$792$647
26 years$2,396$1,805$1,340$983$714$577
27 years$2,283$1,698$1,244$900$643$515
28 years$2,178$1,600$1,157$824$580$460
29 years$2,080$1,510$1,076$756$524$411
30 years$1,989$1,426$1,003$694$474$368
31 years$1,904$1,348$935$637$428$329
32 years$1,824$1,275$872$585$387$294
33 years$1,750$1,208$814$538$351$264
34 years$1,680$1,145$761$495$317$236
35 years$1,614$1,086$711$456$287$212
36 years$1,552$1,030$665$420$260$190
37 years$1,493$979$623$387$236$170
38 years$1,438$930$583$357$214$152
39 years$1,385$884$546$329$194$137
40 years$1,336$841$512$303$176$123
41 years$1,289$801$480$280$160$110
42 years$1,244$763$450$258$145$99
43 years$1,201$727$423$238$132$89
44 years$1,161$693$397$220$119$80
45 years$1,122$661$373$203$108$71
46 years$1,085$630$350$188$98$64
47 years$1,050$601$329$173$89$58
48 years$1,017$574$309$160$81$52
49 years$985$548$290$148$74$46
50 years$954$524$273$137$67$42

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $977,000, adding $4,992 every year, while hoping to spend $49,205 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: 65/28/7 Blend
52$977,000$977,000$977,000$977,000
53$1,081,803$1,030,022$1,014,879$1,150,431
54$1,139,793$1,028,140$996,523$1,194,825
55$1,202,049$1,024,516$975,904$1,236,998
56$1,268,955$1,019,013$952,893$1,281,782
57$1,340,929$1,011,486$927,356$1,329,423
58$1,418,435$1,001,780$899,154$1,380,199
59$1,501,980$989,732$868,140$1,434,414
60$1,592,121$975,167$834,161$1,492,404
61$1,689,470$957,903$797,058$1,554,543
62$1,794,699$937,743$756,663$1,621,244
63$1,908,548$914,482$712,801$1,692,963
64$2,031,829$887,901$665,289$1,770,204
65$2,165,436$857,769$613,937$1,853,527
66$2,310,352$823,841$558,545$1,943,548
67$2,467,656$785,858$498,905$2,040,951
68$2,638,538$743,545$434,798$2,146,491
69$2,824,303$696,613$365,999$2,261,002
70$3,026,391$644,756$292,268$2,385,408
71$3,246,382$587,649$213,359$2,520,729
72$3,486,019$524,949$129,012$2,668,093
73$3,747,217$456,296$38,958$2,828,746
74$4,032,083$381,305$0$3,004,067
75$4,342,940$299,573$0$3,199,845
76$4,682,341$210,673$0$3,416,878
77$5,053,099$114,155$0$3,654,135
78$5,458,308$9,542$0$3,913,693
79$5,901,377$0$0$4,197,845
80$6,386,058$0$0$4,541,067
81$6,916,482$0$0$4,919,962
82$7,497,200$0$0$5,334,849
83$8,133,222$0$0$5,789,316
84$8,830,063$0$0$6,287,314
85$9,593,801$0$0$6,833,193
86$10,431,127$0$0$7,431,746
87$11,349,411$0$0$8,088,251
88$12,356,771$0$0$8,808,521
89$13,462,148$0$0$9,598,959
90$14,675,390$0$0$10,466,619
91$16,007,346$0$0$11,419,270
92$17,469,966$0$0$12,465,471
93$19,076,415$0$0$13,614,650
94$20,841,193$0$0$14,877,192
95$22,780,277$0$0$16,264,540
96$24,911,265$0$0$17,789,299
97$27,253,548$0$0$19,465,355
98$29,828,485$0$0$21,308,007
99$32,659,611$0$0$23,334,111
100$35,772,853$0$0$25,562,237