Can I retire at age 53 with 978,000?

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 $978,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$80,762$80,043$79,341$78,656$77,987$76,758
2 years$39,981$39,237$38,515$37,815$37,137$35,902
3 years$26,389$25,642$24,922$24,229$23,561$22,359
4 years$19,595$18,849$18,137$17,455$16,804$15,643
5 years$15,519$14,778$14,075$13,407$12,774$11,658
6 years$12,803$12,067$11,375$10,722$10,108$9,038
7 years$10,863$10,134$9,452$8,815$8,220$7,198
8 years$9,410$8,687$8,016$7,395$6,820$5,843
9 years$8,279$7,563$6,904$6,299$5,743$4,813
10 years$7,376$6,667$6,019$5,430$4,893$4,008
11 years$6,637$5,935$5,299$4,725$4,208$3,368
12 years$6,022$5,327$4,703$4,145$3,647$2,849
13 years$5,501$4,814$4,202$3,659$3,180$2,425
14 years$5,056$4,376$3,775$3,248$2,788$2,073
15 years$4,670$3,997$3,409$2,897$2,455$1,780
16 years$4,333$3,668$3,091$2,594$2,169$1,533
17 years$4,036$3,378$2,812$2,331$1,923$1,323
18 years$3,772$3,121$2,567$2,100$1,710$1,146
19 years$3,536$2,893$2,350$1,898$1,524$994
20 years$3,324$2,688$2,157$1,719$1,362$863
21 years$3,132$2,504$1,984$1,560$1,219$751
22 years$2,958$2,337$1,828$1,418$1,092$655
23 years$2,800$2,186$1,688$1,292$980$571
24 years$2,655$2,048$1,561$1,178$881$498
25 years$2,521$1,922$1,446$1,076$793$435
26 years$2,399$1,806$1,341$984$714$381
27 years$2,285$1,700$1,245$900$644$333
28 years$2,180$1,602$1,158$825$581$292
29 years$2,082$1,511$1,077$757$525$255
30 years$1,991$1,427$1,004$694$474$224
31 years$1,906$1,349$936$638$429$196
32 years$1,826$1,277$873$586$388$172
33 years$1,751$1,209$815$539$351$151
34 years$1,681$1,146$762$496$318$132
35 years$1,615$1,087$712$456$288$116
36 years$1,553$1,032$666$420$261$102
37 years$1,495$980$623$387$236$89
38 years$1,439$931$584$357$214$78
39 years$1,387$885$547$329$194$69
40 years$1,337$842$513$304$176$61
41 years$1,290$802$481$280$160$53
42 years$1,245$764$451$259$145$47
43 years$1,203$728$423$239$132$41
44 years$1,162$694$397$220$119$36
45 years$1,123$661$373$204$108$32
46 years$1,087$631$350$188$98$28
47 years$1,051$602$329$174$89$24
48 years$1,018$575$309$160$81$21
49 years$986$549$291$148$74$19
50 years$955$524$273$137$67$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $978,000, adding $6,514 every year, while hoping to spend $42,238 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: 83/10/7 Blend
52$978,000$978,000$978,000$978,000
53$1,084,475$1,032,641$1,017,482$1,173,242
54$1,150,151$1,038,300$1,006,627$1,237,869
55$1,221,110$1,042,820$993,992$1,302,463
56$1,297,846$1,046,101$979,474$1,372,079
57$1,380,903$1,048,037$962,964$1,447,195
58$1,470,879$1,048,514$944,346$1,528,338
59$1,568,429$1,047,412$923,503$1,616,087
60$1,674,276$1,044,603$900,308$1,711,080
61$1,789,215$1,039,951$874,630$1,814,021
62$1,914,119$1,033,312$846,334$1,925,684
63$2,049,948$1,024,534$815,276$2,046,920
64$2,197,760$1,013,454$781,305$2,178,671
65$2,358,719$999,900$744,266$2,321,969
66$2,534,105$983,692$703,995$2,477,957
67$2,725,326$964,635$660,322$2,647,889
68$2,933,933$942,526$613,066$2,833,151
69$3,161,633$917,148$562,042$3,035,266
70$3,410,303$888,272$507,055$3,255,915
71$3,682,013$855,657$447,900$3,496,950
72$3,979,039$819,044$384,365$3,760,411
73$4,303,888$778,164$316,228$4,048,546
74$4,659,319$732,729$243,256$4,363,834
75$5,048,372$682,435$165,208$4,709,005
76$5,474,393$626,961$81,829$5,087,068
77$5,941,067$565,969$0$5,501,339
78$6,452,453$499,098$0$5,956,007
79$7,013,021$425,972$0$6,461,123
80$7,627,692$346,188$0$7,015,029
81$8,301,890$259,324$0$7,622,640
82$9,041,585$164,933$0$8,289,372
83$9,853,355$62,543$0$9,021,191
84$10,744,446$0$0$9,824,673
85$11,722,839$0$0$10,712,381
86$12,797,326$0$0$11,694,855
87$13,977,590$0$0$12,774,070
88$15,274,303$0$0$13,959,785
89$16,699,216$0$0$15,262,750
90$18,265,280$0$0$16,694,807
91$19,986,758$0$0$18,269,005
92$21,879,367$0$0$19,999,718
93$23,960,422$0$0$21,902,784
94$26,248,999$0$0$23,995,649
95$28,766,116$0$0$26,297,538
96$31,534,931$0$0$28,829,631
97$34,580,957$0$0$31,615,264
98$37,932,306$0$0$34,680,150
99$41,619,951$0$0$38,052,619
100$45,678,020$0$0$41,763,885