Can I retire at age 53 with 979,000?

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 $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%12.5%
1 years$80,845$80,125$79,422$78,736$78,067$77,252
2 years$40,022$39,277$38,554$37,854$37,175$36,354
3 years$26,416$25,668$24,947$24,253$23,585$22,784
4 years$19,615$18,869$18,155$17,473$16,821$16,046
5 years$15,535$14,793$14,089$13,421$12,787$12,040
6 years$12,816$12,080$11,386$10,733$10,118$9,400
7 years$10,875$10,145$9,462$8,824$8,229$7,540
8 years$9,419$8,696$8,024$7,402$6,826$6,167
9 years$8,288$7,571$6,911$6,305$5,749$5,119
10 years$7,383$6,674$6,026$5,435$4,898$4,297
11 years$6,644$5,941$5,305$4,730$4,213$3,639
12 years$6,028$5,332$4,708$4,149$3,651$3,105
13 years$5,507$4,819$4,206$3,663$3,183$2,665
14 years$5,061$4,380$3,779$3,252$2,791$2,298
15 years$4,675$4,002$3,412$2,900$2,457$1,990
16 years$4,337$3,671$3,094$2,596$2,172$1,730
17 years$4,040$3,381$2,815$2,333$1,925$1,507
18 years$3,776$3,124$2,570$2,102$1,712$1,317
19 years$3,540$2,896$2,353$1,900$1,526$1,153
20 years$3,327$2,691$2,159$1,721$1,363$1,012
21 years$3,136$2,506$1,986$1,562$1,220$889
22 years$2,961$2,340$1,830$1,420$1,093$782
23 years$2,803$2,188$1,690$1,293$981$689
24 years$2,657$2,050$1,563$1,179$882$608
25 years$2,524$1,924$1,448$1,077$794$536
26 years$2,401$1,808$1,343$985$715$474
27 years$2,287$1,702$1,247$901$645$419
28 years$2,182$1,604$1,159$826$582$371
29 years$2,084$1,513$1,079$757$525$328
30 years$1,993$1,429$1,005$695$475$290
31 years$1,908$1,351$937$638$429$257
32 years$1,828$1,278$874$587$388$228
33 years$1,753$1,210$816$539$351$202
34 years$1,683$1,147$762$496$318$179
35 years$1,617$1,088$713$457$288$159
36 years$1,555$1,033$667$421$261$141
37 years$1,496$981$624$388$237$125
38 years$1,441$932$584$357$214$111
39 years$1,388$886$548$330$194$99
40 years$1,338$843$513$304$176$88
41 years$1,291$803$481$280$160$78
42 years$1,246$764$451$259$145$69
43 years$1,204$728$424$239$132$61
44 years$1,163$694$398$221$120$55
45 years$1,125$662$373$204$109$48
46 years$1,088$632$351$188$99$43
47 years$1,052$603$329$174$90$38
48 years$1,019$575$310$161$81$34
49 years$987$549$291$148$74$30
50 years$956$525$274$137$67$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $979,000, adding $4,841 every year, while hoping to spend $42,464 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: 66/15/19 Blend
52$979,000$979,000$979,000$979,000
53$1,083,851$1,031,964$1,016,790$1,149,944
54$1,149,223$1,037,349$1,005,671$1,200,220
55$1,219,839$1,041,575$992,756$1,249,824
56$1,296,190$1,044,539$977,941$1,303,032
57$1,378,815$1,046,135$961,115$1,360,196
58$1,468,305$1,046,247$942,164$1,421,707
59$1,565,312$1,044,753$920,966$1,487,995
60$1,670,552$1,041,524$897,397$1,559,537
61$1,784,811$1,036,422$871,323$1,636,856
62$1,908,958$1,029,302$842,608$1,720,535
63$2,043,943$1,020,009$811,106$1,811,212
64$2,190,815$1,008,379$776,668$1,909,595
65$2,350,727$994,239$739,136$2,016,465
66$2,524,949$977,404$698,344$2,132,683
67$2,714,876$957,680$654,121$2,259,200
68$2,922,046$934,858$606,287$2,397,068
69$3,148,150$908,722$554,653$2,547,444
70$3,395,050$879,039$499,023$2,711,609
71$3,664,797$845,563$439,192$2,890,975
72$3,959,647$808,036$374,945$3,087,099
73$4,282,084$766,183$306,059$3,301,703
74$4,634,844$719,713$232,299$3,536,685
75$5,020,939$668,320$153,423$3,794,139
76$5,443,686$611,679$69,174$4,076,376
77$5,906,737$549,447$0$4,385,948
78$6,414,116$481,261$0$4,729,872
79$6,970,251$406,738$0$5,122,289
80$7,580,021$325,473$0$5,552,643
81$8,248,801$237,039$0$6,024,777
82$8,982,507$140,983$0$6,542,923
83$9,787,661$36,829$0$7,111,748
84$10,671,441$0$0$7,736,393
85$11,641,759$0$0$8,435,062
86$12,707,326$0$0$9,209,055
87$13,877,742$0$0$10,059,275
88$15,163,580$0$0$10,993,410
89$16,576,488$0$0$12,019,933
90$18,129,298$0$0$13,148,174
91$19,836,148$0$0$14,388,415
92$21,712,614$0$0$15,751,983
93$23,775,854$0$0$17,251,358
94$26,044,774$0$0$18,900,288
95$28,540,203$0$0$20,713,921
96$31,285,090$0$0$22,708,948
97$34,304,719$0$0$24,903,758
98$37,626,950$0$0$27,318,610
99$41,282,478$0$0$29,975,830
100$45,305,124$0$0$32,900,013