Can I retire at age 53 with 981,000?

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 $981,000?

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$81,010$80,288$79,584$78,897$78,226$77,409
2 years$40,104$39,357$38,633$37,931$37,251$36,428
3 years$26,470$25,720$24,998$24,303$23,633$22,830
4 years$19,655$18,907$18,192$17,509$16,855$16,079
5 years$15,567$14,823$14,118$13,449$12,813$12,065
6 years$12,842$12,104$11,409$10,755$10,139$9,419
7 years$10,897$10,165$9,481$8,842$8,245$7,555
8 years$9,438$8,714$8,041$7,418$6,840$6,180
9 years$8,305$7,587$6,926$6,318$5,761$5,129
10 years$7,398$6,687$6,038$5,446$4,908$4,306
11 years$6,657$5,953$5,316$4,740$4,221$3,647
12 years$6,040$5,343$4,718$4,157$3,658$3,111
13 years$5,518$4,829$4,215$3,670$3,190$2,670
14 years$5,071$4,389$3,787$3,258$2,796$2,303
15 years$4,684$4,010$3,419$2,906$2,462$1,994
16 years$4,346$3,679$3,100$2,602$2,176$1,733
17 years$4,048$3,388$2,821$2,338$1,929$1,510
18 years$3,783$3,131$2,575$2,107$1,716$1,320
19 years$3,547$2,902$2,357$1,904$1,529$1,156
20 years$3,334$2,696$2,163$1,724$1,366$1,014
21 years$3,142$2,511$1,990$1,565$1,222$891
22 years$2,968$2,344$1,834$1,423$1,096$784
23 years$2,808$2,193$1,693$1,296$983$690
24 years$2,663$2,054$1,566$1,182$884$609
25 years$2,529$1,928$1,451$1,079$795$537
26 years$2,406$1,812$1,345$987$716$475
27 years$2,292$1,705$1,249$903$646$420
28 years$2,186$1,607$1,161$828$583$371
29 years$2,088$1,516$1,081$759$526$329
30 years$1,997$1,432$1,007$696$476$291
31 years$1,912$1,353$938$640$430$258
32 years$1,832$1,280$876$588$389$229
33 years$1,757$1,213$818$541$352$203
34 years$1,687$1,149$764$497$319$180
35 years$1,620$1,090$714$458$289$159
36 years$1,558$1,035$668$422$262$141
37 years$1,499$983$625$389$237$126
38 years$1,444$934$586$358$215$111
39 years$1,391$888$549$330$195$99
40 years$1,341$845$514$305$177$88
41 years$1,294$804$482$281$160$78
42 years$1,249$766$452$259$146$69
43 years$1,206$730$424$239$132$62
44 years$1,166$696$398$221$120$55
45 years$1,127$663$374$204$109$49
46 years$1,090$633$351$189$99$43
47 years$1,055$604$330$174$90$38
48 years$1,021$577$310$161$81$34
49 years$989$551$292$149$74$30
50 years$958$526$274$138$67$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $981,000, adding $5,866 every year, while hoping to spend $25,445 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: 77/15/8 Blend
52$981,000$981,000$981,000$981,000
53$1,087,113$1,035,120$1,019,914$1,169,125
54$1,170,925$1,058,767$1,027,008$1,247,485
55$1,262,433$1,082,721$1,033,487$1,329,513
56$1,362,396$1,106,968$1,039,303$1,418,710
57$1,471,647$1,131,497$1,044,406$1,515,775
58$1,591,106$1,156,291$1,048,745$1,621,484
59$1,721,784$1,181,335$1,052,263$1,736,687
60$1,864,796$1,206,610$1,054,904$1,862,321
61$2,021,367$1,232,096$1,056,605$1,999,421
62$2,192,849$1,257,771$1,057,304$2,149,122
63$2,380,730$1,283,612$1,056,934$2,312,678
64$2,586,647$1,309,591$1,055,424$2,491,469
65$2,812,404$1,335,681$1,052,700$2,687,017
66$3,059,989$1,361,849$1,048,685$2,900,995
67$3,331,591$1,388,062$1,043,299$3,135,248
68$3,629,619$1,414,284$1,036,456$3,391,811
69$3,956,730$1,440,474$1,028,067$3,672,921
70$4,315,849$1,466,589$1,018,039$3,981,048
71$4,710,197$1,492,583$1,006,274$4,318,909
72$5,143,323$1,518,406$992,671$4,689,501
73$5,619,138$1,544,003$977,121$5,096,123
74$6,141,948$1,569,318$959,513$5,542,412
75$6,716,500$1,594,288$939,730$6,032,376
76$7,348,020$1,618,845$917,648$6,570,429
77$8,042,268$1,642,918$893,139$7,161,437
78$8,805,589$1,666,430$866,069$7,810,761
79$9,644,973$1,689,300$836,296$8,524,308
80$10,568,123$1,711,438$803,675$9,308,588
81$11,583,524$1,732,751$768,050$10,170,774
82$12,700,526$1,753,138$729,262$11,118,770
83$13,929,429$1,772,492$687,142$12,161,287
84$15,281,584$1,790,697$641,515$13,307,922
85$16,769,497$1,807,633$592,197$14,569,255
86$18,406,947$1,823,168$538,997$15,956,939
87$20,209,115$1,837,163$481,713$17,483,821
88$22,192,732$1,849,471$420,137$19,164,055
89$24,376,229$1,859,933$354,051$21,013,239
90$26,779,918$1,868,384$283,225$23,048,563
91$29,426,179$1,874,644$207,422$25,288,969
92$32,339,672$1,878,524$126,393$27,755,333
93$35,547,570$1,879,823$39,879$30,470,660
94$39,079,815$1,878,327$0$33,460,299
95$42,969,400$1,873,809$0$36,756,667
96$47,252,681$1,866,028$0$40,389,996
97$51,969,719$1,854,728$0$44,390,832
98$57,164,660$1,839,639$0$48,796,592
99$62,886,146$1,820,472$0$53,648,505
100$69,187,780$1,796,923$0$58,992,009