Can I retire at age 53 with 982,000?

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 $982,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.9%
1 years$81,093$80,370$79,666$78,978$78,306$75,199
2 years$40,145$39,397$38,673$37,970$37,289$34,197
3 years$26,497$25,747$25,024$24,328$23,657$20,678
4 years$19,675$18,926$18,211$17,527$16,873$14,029
5 years$15,583$14,839$14,132$13,462$12,826$10,125
6 years$12,855$12,117$11,421$10,766$10,149$7,592
7 years$10,908$10,176$9,491$8,851$8,254$5,840
8 years$9,448$8,722$8,049$7,425$6,847$4,575
9 years$8,313$7,594$6,933$6,325$5,767$3,631
10 years$7,406$6,694$6,044$5,452$4,913$2,911
11 years$6,664$5,959$5,321$4,745$4,226$2,352
12 years$6,046$5,349$4,722$4,162$3,662$1,912
13 years$5,524$4,834$4,219$3,674$3,193$1,561
14 years$5,077$4,394$3,791$3,262$2,799$1,280
15 years$4,689$4,014$3,423$2,909$2,465$1,053
16 years$4,351$3,683$3,103$2,604$2,178$868
17 years$4,052$3,392$2,824$2,340$1,931$717
18 years$3,787$3,134$2,578$2,109$1,717$593
19 years$3,550$2,904$2,360$1,906$1,531$492
20 years$3,338$2,699$2,166$1,726$1,367$408
21 years$3,145$2,514$1,992$1,566$1,223$339
22 years$2,971$2,347$1,836$1,424$1,097$281
23 years$2,811$2,195$1,695$1,297$984$234
24 years$2,666$2,056$1,568$1,183$885$195
25 years$2,532$1,930$1,452$1,080$796$162
26 years$2,408$1,814$1,347$988$717$135
27 years$2,294$1,707$1,251$904$647$112
28 years$2,189$1,608$1,163$828$583$94
29 years$2,090$1,517$1,082$760$527$78
30 years$1,999$1,433$1,008$697$476$65
31 years$1,913$1,355$939$640$430$54
32 years$1,834$1,282$877$588$389$45
33 years$1,759$1,214$818$541$352$38
34 years$1,688$1,150$765$498$319$31
35 years$1,622$1,091$715$458$289$26
36 years$1,560$1,036$669$422$262$22
37 years$1,501$984$626$389$237$18
38 years$1,445$935$586$358$215$15
39 years$1,392$889$549$331$195$13
40 years$1,343$846$515$305$177$11
41 years$1,295$805$483$281$161$9
42 years$1,250$767$453$260$146$7
43 years$1,207$731$425$240$132$6
44 years$1,167$696$399$221$120$5
45 years$1,128$664$374$204$109$4
46 years$1,091$633$352$189$99$4
47 years$1,056$605$330$174$90$3
48 years$1,022$577$311$161$82$2
49 years$990$551$292$149$74$2
50 years$959$526$274$138$67$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $982,000, adding $3,938 every year, while hoping to spend $21,442 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: 48/23/29 Blend
52$982,000$982,000$982,000$982,000
53$1,086,226$1,034,180$1,018,959$1,129,200
54$1,174,207$1,062,041$1,030,280$1,187,733
55$1,270,443$1,090,548$1,041,262$1,248,858
56$1,375,754$1,119,711$1,051,870$1,314,831
57$1,491,043$1,149,538$1,062,069$1,386,120
58$1,617,302$1,180,038$1,071,821$1,463,243
59$1,755,626$1,211,219$1,081,086$1,546,767
60$1,907,219$1,243,088$1,089,822$1,637,321
61$2,073,410$1,275,654$1,097,985$1,735,593
62$2,255,659$1,308,922$1,105,529$1,842,346
63$2,455,576$1,342,900$1,112,405$1,958,417
64$2,674,936$1,377,592$1,118,560$2,084,731
65$2,915,689$1,413,004$1,123,943$2,222,306
66$3,179,989$1,449,141$1,128,494$2,372,263
67$3,470,205$1,486,006$1,132,156$2,535,840
68$3,788,947$1,523,602$1,134,864$2,714,400
69$4,139,092$1,561,930$1,136,554$2,909,444
70$4,523,806$1,600,992$1,137,156$3,122,628
71$4,946,582$1,640,788$1,136,598$3,355,776
72$5,411,263$1,681,316$1,134,804$3,610,899
73$5,922,086$1,722,575$1,131,693$3,890,214
74$6,483,717$1,764,559$1,127,183$4,196,163
75$7,101,298$1,807,264$1,121,186$4,531,438
76$7,780,494$1,850,684$1,113,609$4,899,007
77$8,527,546$1,894,809$1,104,357$5,302,140
78$9,349,331$1,939,630$1,093,328$5,744,442
79$10,253,425$1,985,134$1,080,417$6,229,887
80$11,248,176$2,031,308$1,065,513$6,762,853
81$12,342,783$2,078,134$1,048,500$7,348,168
82$13,547,378$2,125,595$1,029,257$7,991,150
83$14,873,131$2,173,669$1,007,657$8,697,665
84$16,332,343$2,222,332$983,566$9,474,174
85$17,938,573$2,271,557$956,847$10,327,801
86$19,706,758$2,321,314$927,352$11,266,397
87$21,653,360$2,371,571$894,931$12,298,615
88$23,796,516$2,422,291$859,424$13,433,994
89$26,156,210$2,473,433$820,664$14,683,044
90$28,754,465$2,524,953$778,479$16,057,353
91$31,615,548$2,576,803$732,685$17,569,689
92$34,766,197$2,628,929$683,093$19,234,128
93$38,235,877$2,681,274$629,504$21,066,181
94$42,057,055$2,733,776$571,711$23,082,946
95$46,265,509$2,786,365$509,498$25,303,265
96$50,900,662$2,838,968$442,637$27,747,907
97$56,005,957$2,891,505$370,893$30,439,762
98$61,629,264$2,943,889$294,018$33,404,055
99$67,823,337$2,996,027$211,755$36,668,593
100$74,646,303$3,047,818$123,835$40,264,016