Can I retire at age 53 with 979,000?

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 $979,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.7%
1 years$80,845$80,125$79,422$78,736$78,067$75,327
2 years$40,022$39,277$38,554$37,854$37,175$34,443
3 years$26,416$25,668$24,947$24,253$23,585$20,948
4 years$19,615$18,869$18,155$17,473$16,821$14,298
5 years$15,535$14,793$14,089$13,421$12,787$10,385
6 years$12,816$12,080$11,386$10,733$10,118$7,838
7 years$10,875$10,145$9,462$8,824$8,229$6,071
8 years$9,419$8,696$8,024$7,402$6,826$4,790
9 years$8,288$7,571$6,911$6,305$5,749$3,830
10 years$7,383$6,674$6,026$5,435$4,898$3,094
11 years$6,644$5,941$5,305$4,730$4,213$2,519
12 years$6,028$5,332$4,708$4,149$3,651$2,064
13 years$5,507$4,819$4,206$3,663$3,183$1,700
14 years$5,061$4,380$3,779$3,252$2,791$1,405
15 years$4,675$4,002$3,412$2,900$2,457$1,166
16 years$4,337$3,671$3,094$2,596$2,172$969
17 years$4,040$3,381$2,815$2,333$1,925$808
18 years$3,776$3,124$2,570$2,102$1,712$675
19 years$3,540$2,896$2,353$1,900$1,526$564
20 years$3,327$2,691$2,159$1,721$1,363$472
21 years$3,136$2,506$1,986$1,562$1,220$396
22 years$2,961$2,340$1,830$1,420$1,093$332
23 years$2,803$2,188$1,690$1,293$981$279
24 years$2,657$2,050$1,563$1,179$882$234
25 years$2,524$1,924$1,448$1,077$794$197
26 years$2,401$1,808$1,343$985$715$165
27 years$2,287$1,702$1,247$901$645$139
28 years$2,182$1,604$1,159$826$582$117
29 years$2,084$1,513$1,079$757$525$98
30 years$1,993$1,429$1,005$695$475$83
31 years$1,908$1,351$937$638$429$70
32 years$1,828$1,278$874$587$388$59
33 years$1,753$1,210$816$539$351$49
34 years$1,683$1,147$762$496$318$42
35 years$1,617$1,088$713$457$288$35
36 years$1,555$1,033$667$421$261$29
37 years$1,496$981$624$388$237$25
38 years$1,441$932$584$357$214$21
39 years$1,388$886$548$330$194$18
40 years$1,338$843$513$304$176$15
41 years$1,291$803$481$280$160$12
42 years$1,246$764$451$259$145$11
43 years$1,204$728$424$239$132$9
44 years$1,163$694$398$221$120$7
45 years$1,125$662$373$204$109$6
46 years$1,088$632$351$188$99$5
47 years$1,052$603$329$174$90$4
48 years$1,019$575$310$161$81$4
49 years$987$549$291$148$74$3
50 years$956$525$274$137$67$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $979,000, adding $5,150 every year, while hoping to spend $52,243 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: 59/23/18 Blend
52$979,000$979,000$979,000$979,000
53$1,084,170$1,032,283$1,017,109$1,142,766
54$1,139,169$1,027,279$995,596$1,178,034
55$1,198,028$1,020,279$971,611$1,210,287
56$1,261,083$1,011,129$945,017$1,244,270
57$1,328,707$999,668$915,669$1,280,158
58$1,401,308$985,724$883,416$1,318,145
59$1,479,331$969,114$848,100$1,358,451
60$1,563,268$949,646$809,556$1,401,316
61$1,653,657$927,115$767,613$1,447,010
62$1,751,091$901,304$722,088$1,495,831
63$1,856,219$871,984$672,795$1,548,113
64$1,969,755$838,913$619,535$1,604,225
65$2,092,484$801,834$562,104$1,664,576
66$2,225,268$760,475$500,285$1,729,622
67$2,369,057$714,549$433,856$1,799,868
68$2,524,891$663,753$362,580$1,875,877
69$2,693,917$607,764$286,214$1,958,269
70$2,877,396$546,244$204,502$2,047,735
71$3,076,714$478,833$117,176$2,145,041
72$3,293,395$405,153$23,958$2,251,034
73$3,529,118$324,802$0$2,366,656
74$3,785,729$237,357$0$2,507,453
75$4,065,257$142,372$0$2,665,926
76$4,369,940$39,375$0$2,838,810
77$4,702,235$0$0$3,027,582
78$5,064,852$0$0$3,252,133
79$5,460,770$0$0$3,508,261
80$5,893,269$0$0$3,788,133
81$6,365,962$0$0$4,094,097
82$6,882,823$0$0$4,428,735
83$7,448,233$0$0$4,794,893
84$8,067,009$0$0$5,195,703
85$8,744,462$0$0$5,634,616
86$9,486,434$0$0$6,115,430
87$10,299,365$0$0$6,642,329
88$11,190,341$0$0$7,219,919
89$12,167,171$0$0$7,853,276
90$13,238,453$0$0$8,547,989
91$14,413,659$0$0$9,310,213
92$15,703,219$0$0$10,146,730
93$17,118,624$0$0$11,065,007
94$18,672,531$0$0$12,073,274
95$20,378,883$0$0$13,180,592
96$22,253,038$0$0$14,396,945
97$24,311,915$0$0$15,733,333
98$26,574,154$0$0$17,201,871
99$29,060,287$0$0$18,815,907
100$31,792,936$0$0$20,590,148