Can I retire at age 53 with 980,000?

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 $980,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.8%
1 years$80,927$80,207$79,503$78,817$78,147$76,600
2 years$40,063$39,317$38,594$37,893$37,213$35,661
3 years$26,443$25,694$24,973$24,278$23,609$22,101
4 years$19,635$18,888$18,174$17,491$16,838$15,385
5 years$15,551$14,808$14,104$13,435$12,800$11,406
6 years$12,829$12,092$11,398$10,744$10,128$8,795
7 years$10,886$10,155$9,472$8,833$8,237$6,964
8 years$9,429$8,705$8,033$7,410$6,833$5,621
9 years$8,296$7,579$6,919$6,312$5,755$4,602
10 years$7,391$6,680$6,032$5,441$4,903$3,810
11 years$6,650$5,947$5,310$4,735$4,217$3,181
12 years$6,034$5,338$4,713$4,153$3,654$2,674
13 years$5,513$4,824$4,211$3,667$3,187$2,261
14 years$5,066$4,385$3,783$3,255$2,793$1,920
15 years$4,680$4,006$3,416$2,903$2,460$1,637
16 years$4,342$3,675$3,097$2,599$2,174$1,400
17 years$4,044$3,385$2,818$2,335$1,927$1,200
18 years$3,779$3,128$2,572$2,105$1,714$1,031
19 years$3,543$2,899$2,355$1,902$1,528$888
20 years$3,331$2,693$2,161$1,722$1,364$766
21 years$3,139$2,509$1,988$1,563$1,221$661
22 years$2,964$2,342$1,832$1,421$1,094$572
23 years$2,806$2,190$1,692$1,294$982$495
24 years$2,660$2,052$1,565$1,181$883$429
25 years$2,527$1,926$1,449$1,078$795$371
26 years$2,403$1,810$1,344$986$716$322
27 years$2,290$1,703$1,248$902$645$280
28 years$2,184$1,605$1,160$827$582$243
29 years$2,086$1,514$1,080$758$526$211
30 years$1,995$1,430$1,006$696$475$183
31 years$1,910$1,352$938$639$430$159
32 years$1,830$1,279$875$587$389$139
33 years$1,755$1,211$817$540$352$121
34 years$1,685$1,148$763$497$318$105
35 years$1,619$1,089$713$457$288$91
36 years$1,556$1,034$667$421$261$79
37 years$1,498$982$625$388$237$69
38 years$1,442$933$585$358$215$60
39 years$1,390$887$548$330$195$52
40 years$1,340$844$514$304$177$46
41 years$1,293$803$482$281$160$40
42 years$1,248$765$452$259$145$35
43 years$1,205$729$424$239$132$30
44 years$1,164$695$398$221$120$26
45 years$1,126$663$374$204$109$23
46 years$1,089$632$351$188$99$20
47 years$1,054$603$330$174$90$17
48 years$1,020$576$310$161$81$15
49 years$988$550$291$149$74$13
50 years$957$525$274$137$67$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $980,000, adding $2,520 every year, while hoping to spend $57,470 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: 41/41/18 Blend
52$980,000$980,000$980,000$980,000
53$1,082,559$1,030,619$1,015,429$1,121,105
54$1,131,833$1,019,972$988,299$1,138,072
55$1,184,206$1,006,877$958,333$1,150,660
56$1,239,934$991,153$925,376$1,163,080
57$1,299,298$972,610$889,266$1,175,348
58$1,362,602$951,044$849,833$1,187,483
59$1,430,183$926,240$806,898$1,199,510
60$1,502,408$897,972$760,275$1,211,465
61$1,579,679$865,999$709,770$1,223,389
62$1,662,440$830,066$655,181$1,235,334
63$1,751,173$789,904$596,294$1,247,365
64$1,846,411$745,227$532,888$1,259,558
65$1,948,736$695,735$464,731$1,272,004
66$2,058,789$641,108$391,582$1,284,810
67$2,177,274$581,010$313,187$1,298,102
68$2,304,961$515,084$229,284$1,312,027
69$2,442,698$442,955$139,597$1,326,755
70$2,591,418$364,224$43,837$1,342,482
71$2,752,143$278,472$0$1,359,436
72$2,925,999$185,254$0$1,389,082
73$3,114,222$84,103$0$1,430,223
74$3,318,172$0$0$1,474,832
75$3,539,343$0$0$1,534,854
76$3,779,379$0$0$1,641,282
77$4,040,088$0$0$1,756,986
78$4,323,458$0$0$1,882,864
79$4,631,678$0$0$2,019,901
80$4,967,153$0$0$2,169,183
81$5,332,533$0$0$2,331,904
82$5,730,732$0$0$2,509,379
83$6,164,957$0$0$2,703,054
84$6,638,737$0$0$2,914,522
85$7,155,960$0$0$3,145,536
86$7,720,902$0$0$3,398,027
87$8,338,271$0$0$3,674,118
88$9,013,252$0$0$3,976,149
89$9,751,552$0$0$4,306,697
90$10,559,455$0$0$4,668,598
91$11,443,882$0$0$5,064,975
92$12,412,452$0$0$5,499,268
93$13,473,557$0$0$5,975,265
94$14,636,439$0$0$6,497,139
95$15,911,275$0$0$7,069,484
96$17,309,274$0$0$7,697,363
97$18,842,783$0$0$8,386,348
98$20,525,401$0$0$9,142,582
99$22,372,107$0$0$9,972,828
100$24,399,400$0$0$10,884,536