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%12.1%
1 years$80,845$80,125$79,422$78,736$78,067$77,380
2 years$40,022$39,277$38,554$37,854$37,175$36,483
3 years$26,416$25,668$24,947$24,253$23,585$22,910
4 years$19,615$18,869$18,155$17,473$16,821$16,167
5 years$15,535$14,793$14,089$13,421$12,787$12,156
6 years$12,816$12,080$11,386$10,733$10,118$9,511
7 years$10,875$10,145$9,462$8,824$8,229$7,646
8 years$9,419$8,696$8,024$7,402$6,826$6,268
9 years$8,288$7,571$6,911$6,305$5,749$5,215
10 years$7,383$6,674$6,026$5,435$4,898$4,388
11 years$6,644$5,941$5,305$4,730$4,213$3,726
12 years$6,028$5,332$4,708$4,149$3,651$3,187
13 years$5,507$4,819$4,206$3,663$3,183$2,742
14 years$5,061$4,380$3,779$3,252$2,791$2,371
15 years$4,675$4,002$3,412$2,900$2,457$2,059
16 years$4,337$3,671$3,094$2,596$2,172$1,794
17 years$4,040$3,381$2,815$2,333$1,925$1,568
18 years$3,776$3,124$2,570$2,102$1,712$1,374
19 years$3,540$2,896$2,353$1,900$1,526$1,207
20 years$3,327$2,691$2,159$1,721$1,363$1,062
21 years$3,136$2,506$1,986$1,562$1,220$936
22 years$2,961$2,340$1,830$1,420$1,093$826
23 years$2,803$2,188$1,690$1,293$981$730
24 years$2,657$2,050$1,563$1,179$882$645
25 years$2,524$1,924$1,448$1,077$794$571
26 years$2,401$1,808$1,343$985$715$506
27 years$2,287$1,702$1,247$901$645$449
28 years$2,182$1,604$1,159$826$582$399
29 years$2,084$1,513$1,079$757$525$354
30 years$1,993$1,429$1,005$695$475$314
31 years$1,908$1,351$937$638$429$280
32 years$1,828$1,278$874$587$388$249
33 years$1,753$1,210$816$539$351$221
34 years$1,683$1,147$762$496$318$197
35 years$1,617$1,088$713$457$288$175
36 years$1,555$1,033$667$421$261$156
37 years$1,496$981$624$388$237$139
38 years$1,441$932$584$357$214$124
39 years$1,388$886$548$330$194$110
40 years$1,338$843$513$304$176$98
41 years$1,291$803$481$280$160$87
42 years$1,246$764$451$259$145$78
43 years$1,204$728$424$239$132$69
44 years$1,163$694$398$221$120$62
45 years$1,125$662$373$204$109$55
46 years$1,088$632$351$188$99$49
47 years$1,052$603$329$174$90$44
48 years$1,019$575$310$161$81$39
49 years$987$549$291$148$74$35
50 years$956$525$274$137$67$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $979,000, adding $3,256 every year, while hoping to spend $39,796 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: 32/44/24 Blend
52$979,000$979,000$979,000$979,000
53$1,082,217$1,030,330$1,015,155$1,108,782
54$1,150,260$1,038,473$1,006,820$1,137,312
55$1,223,910$1,045,682$996,872$1,164,227
56$1,303,697$1,051,868$985,215$1,192,413
57$1,390,202$1,056,938$971,748$1,222,006
58$1,484,068$1,060,793$956,367$1,253,162
59$1,585,998$1,063,327$938,960$1,286,052
60$1,696,767$1,064,427$919,412$1,320,870
61$1,817,227$1,063,974$897,603$1,357,831
62$1,948,318$1,061,843$873,407$1,397,176
63$2,091,071$1,057,897$846,690$1,439,175
64$2,246,621$1,051,995$817,315$1,484,128
65$2,416,218$1,043,985$785,137$1,532,369
66$2,601,239$1,033,706$750,005$1,584,273
67$2,803,196$1,020,989$711,761$1,640,256
68$3,023,756$1,005,652$670,240$1,700,781
69$3,264,755$987,504$625,269$1,766,364
70$3,528,212$966,344$576,667$1,837,580
71$3,816,351$941,956$524,246$1,915,066
72$4,131,620$914,113$467,810$1,999,534
73$4,476,715$882,575$407,152$2,091,771
74$4,854,606$847,087$342,057$2,192,654
75$5,268,562$807,380$272,302$2,303,157
76$5,722,183$763,169$197,652$2,424,359
77$6,219,434$714,153$117,862$2,557,459
78$6,764,684$660,014$32,677$2,703,787
79$7,362,740$600,413$0$2,864,818
80$8,018,903$534,997$0$3,057,098
81$8,739,007$463,387$0$3,277,428
82$9,529,479$385,187$0$3,519,514
83$10,397,402$299,977$0$3,785,658
84$11,350,574$207,313$0$4,078,406
85$12,397,587$106,726$0$4,400,569
86$13,547,908$0$0$4,755,258
87$14,811,963$0$0$5,147,011
88$16,201,239$0$0$5,634,523
89$17,728,394$0$0$6,170,580
90$19,407,368$0$0$6,760,097
91$21,253,525$0$0$7,408,489
92$23,283,788$0$0$8,121,720
93$25,516,803$0$0$8,906,365
94$27,973,115$0$0$9,769,664
95$30,675,359$0$0$10,719,598
96$33,648,475$0$0$11,764,958
97$36,919,942$0$0$12,915,432
98$40,520,037$0$0$14,181,693
99$44,482,121$0$0$15,575,503
100$48,842,953$0$0$17,109,820