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%14%
1 years$80,845$80,125$79,422$78,736$78,067$76,774
2 years$40,022$39,277$38,554$37,854$37,175$35,875
3 years$26,416$25,668$24,947$24,253$23,585$22,320
4 years$19,615$18,869$18,155$17,473$16,821$15,601
5 years$15,535$14,793$14,089$13,421$12,787$11,615
6 years$12,816$12,080$11,386$10,733$10,118$8,995
7 years$10,875$10,145$9,462$8,824$8,229$7,155
8 years$9,419$8,696$8,024$7,402$6,826$5,802
9 years$8,288$7,571$6,911$6,305$5,749$4,773
10 years$7,383$6,674$6,026$5,435$4,898$3,970
11 years$6,644$5,941$5,305$4,730$4,213$3,332
12 years$6,028$5,332$4,708$4,149$3,651$2,815
13 years$5,507$4,819$4,206$3,663$3,183$2,393
14 years$5,061$4,380$3,779$3,252$2,791$2,043
15 years$4,675$4,002$3,412$2,900$2,457$1,751
16 years$4,337$3,671$3,094$2,596$2,172$1,506
17 years$4,040$3,381$2,815$2,333$1,925$1,299
18 years$3,776$3,124$2,570$2,102$1,712$1,123
19 years$3,540$2,896$2,353$1,900$1,526$972
20 years$3,327$2,691$2,159$1,721$1,363$843
21 years$3,136$2,506$1,986$1,562$1,220$733
22 years$2,961$2,340$1,830$1,420$1,093$637
23 years$2,803$2,188$1,690$1,293$981$555
24 years$2,657$2,050$1,563$1,179$882$484
25 years$2,524$1,924$1,448$1,077$794$422
26 years$2,401$1,808$1,343$985$715$369
27 years$2,287$1,702$1,247$901$645$322
28 years$2,182$1,604$1,159$826$582$281
29 years$2,084$1,513$1,079$757$525$246
30 years$1,993$1,429$1,005$695$475$215
31 years$1,908$1,351$937$638$429$188
32 years$1,828$1,278$874$587$388$165
33 years$1,753$1,210$816$539$351$144
34 years$1,683$1,147$762$496$318$126
35 years$1,617$1,088$713$457$288$111
36 years$1,555$1,033$667$421$261$97
37 years$1,496$981$624$388$237$85
38 years$1,441$932$584$357$214$74
39 years$1,388$886$548$330$194$65
40 years$1,338$843$513$304$176$57
41 years$1,291$803$481$280$160$50
42 years$1,246$764$451$259$145$44
43 years$1,204$728$424$239$132$39
44 years$1,163$694$398$221$120$34
45 years$1,125$662$373$204$109$30
46 years$1,088$632$351$188$99$26
47 years$1,052$603$329$174$90$23
48 years$1,019$575$310$161$81$20
49 years$987$549$291$148$74$18
50 years$956$525$274$137$67$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $979,000, adding $3,380 every year, while hoping to spend $48,811 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: 49/39/12 Blend
52$979,000$979,000$979,000$979,000
53$1,082,344$1,030,457$1,015,283$1,131,675
54$1,140,809$1,029,015$997,360$1,164,484
55$1,203,601$1,025,867$977,202$1,194,722
56$1,271,111$1,020,876$954,680$1,226,464
57$1,343,765$1,013,901$929,663$1,259,867
58$1,422,035$1,004,788$902,013$1,295,105
59$1,506,437$993,376$871,584$1,332,374
60$1,597,537$979,495$838,226$1,371,890
61$1,695,959$962,964$801,780$1,413,896
62$1,802,387$943,589$762,080$1,458,664
63$1,917,575$921,169$718,953$1,506,495
64$2,042,348$895,488$672,219$1,557,726
65$2,177,618$866,317$621,689$1,612,732
66$2,324,385$833,416$567,165$1,671,929
67$2,483,748$796,529$508,441$1,735,781
68$2,656,918$755,386$445,301$1,804,806
69$2,845,225$709,702$377,521$1,879,577
70$3,050,135$659,175$304,865$1,960,733
71$3,273,259$603,485$227,088$2,048,983
72$3,516,370$542,294$143,934$2,145,114
73$3,781,419$475,245$55,135$2,250,001
74$4,070,554$401,963$0$2,364,615
75$4,386,139$322,047$0$2,495,109
76$4,730,776$235,078$0$2,645,466
77$5,107,329$140,611$0$2,809,985
78$5,518,952$38,176$0$2,990,176
79$5,969,117$0$0$3,187,712
80$6,461,646$0$0$3,435,650
81$7,000,750$0$0$3,725,070
82$7,591,062$0$0$4,042,088
83$8,237,688$0$0$4,389,459
84$8,946,248$0$0$4,770,218
85$9,722,933$0$0$5,187,704
86$10,574,562$0$0$5,645,598
87$11,508,643$0$0$6,147,953
88$12,533,447$0$0$6,699,233
89$13,658,086$0$0$7,304,355
90$14,892,594$0$0$7,968,736
91$16,248,026$0$0$8,698,344
92$17,736,558$0$0$9,499,750
93$19,371,604$0$0$10,380,197
94$21,167,941$0$0$11,347,660
95$23,141,848$0$0$12,410,929
96$25,311,259$0$0$13,579,683
97$27,695,932$0$0$14,864,590
98$30,317,633$0$0$16,277,401
99$33,200,345$0$0$17,831,062
100$36,370,488$0$0$19,539,837