Can I retire at age 53 with 982,000?

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 $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%16.1%
1 years$81,093$80,370$79,666$78,978$78,306$76,351
2 years$40,145$39,397$38,673$37,970$37,289$35,331
3 years$26,497$25,747$25,024$24,328$23,657$21,759
4 years$19,675$18,926$18,211$17,527$16,873$15,048
5 years$15,583$14,839$14,132$13,462$12,826$11,080
6 years$12,855$12,117$11,421$10,766$10,149$8,483
7 years$10,908$10,176$9,491$8,851$8,254$6,669
8 years$9,448$8,722$8,049$7,425$6,847$5,342
9 years$8,313$7,594$6,933$6,325$5,767$4,340
10 years$7,406$6,694$6,044$5,452$4,913$3,563
11 years$6,664$5,959$5,321$4,745$4,226$2,951
12 years$6,046$5,349$4,722$4,162$3,662$2,460
13 years$5,524$4,834$4,219$3,674$3,193$2,061
14 years$5,077$4,394$3,791$3,262$2,799$1,735
15 years$4,689$4,014$3,423$2,909$2,465$1,466
16 years$4,351$3,683$3,103$2,604$2,178$1,242
17 years$4,052$3,392$2,824$2,340$1,931$1,055
18 years$3,787$3,134$2,578$2,109$1,717$898
19 years$3,550$2,904$2,360$1,906$1,531$766
20 years$3,338$2,699$2,166$1,726$1,367$654
21 years$3,145$2,514$1,992$1,566$1,223$559
22 years$2,971$2,347$1,836$1,424$1,097$479
23 years$2,811$2,195$1,695$1,297$984$410
24 years$2,666$2,056$1,568$1,183$885$351
25 years$2,532$1,930$1,452$1,080$796$302
26 years$2,408$1,814$1,347$988$717$259
27 years$2,294$1,707$1,251$904$647$222
28 years$2,189$1,608$1,163$828$583$191
29 years$2,090$1,517$1,082$760$527$164
30 years$1,999$1,433$1,008$697$476$141
31 years$1,913$1,355$939$640$430$121
32 years$1,834$1,282$877$588$389$104
33 years$1,759$1,214$818$541$352$90
34 years$1,688$1,150$765$498$319$77
35 years$1,622$1,091$715$458$289$67
36 years$1,560$1,036$669$422$262$57
37 years$1,501$984$626$389$237$49
38 years$1,445$935$586$358$215$42
39 years$1,392$889$549$331$195$37
40 years$1,343$846$515$305$177$31
41 years$1,295$805$483$281$161$27
42 years$1,250$767$453$260$146$23
43 years$1,207$731$425$240$132$20
44 years$1,167$696$399$221$120$17
45 years$1,128$664$374$204$109$15
46 years$1,091$633$352$189$99$13
47 years$1,056$605$330$174$90$11
48 years$1,022$577$311$161$82$10
49 years$990$551$292$149$74$8
50 years$959$526$274$138$67$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $982,000, adding $6,187 every year, while hoping to spend $58,706 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: 23/47/30 Blend
52$982,000$982,000$982,000$982,000
53$1,088,546$1,036,500$1,021,279$1,103,215
54$1,137,115$1,024,826$993,029$1,104,903
55$1,188,670$1,010,612$961,865$1,101,411
56$1,243,455$993,672$927,628$1,096,445
57$1,301,734$973,809$890,150$1,089,921
58$1,363,798$950,812$849,257$1,081,758
59$1,429,965$924,462$804,767$1,071,868
60$1,500,584$894,523$756,489$1,060,168
61$1,576,035$860,746$704,224$1,046,568
62$1,656,738$822,871$647,763$1,030,982
63$1,743,152$780,617$586,888$1,013,320
64$1,835,778$733,692$521,374$993,496
65$1,935,169$681,785$450,982$971,423
66$2,041,930$624,566$375,464$947,014
67$2,156,727$561,690$294,561$920,188
68$2,280,288$492,787$208,004$890,864
69$2,413,415$417,471$115,510$858,967
70$2,556,987$335,332$16,784$824,427
71$2,711,973$245,936$0$787,180
72$2,879,433$148,826$0$775,523
73$3,060,536$43,519$0$768,634
74$3,256,564$0$0$761,208
75$3,468,929$0$0$789,795
76$3,699,180$0$0$845,338
77$3,949,025$0$0$905,757
78$4,220,339$0$0$971,527
79$4,515,185$0$0$1,043,166
80$4,835,833$0$0$1,121,248
81$5,184,780$0$0$1,206,403
82$5,564,773$0$0$1,299,322
83$5,978,838$0$0$1,400,771
84$6,430,300$0$0$1,511,588
85$6,922,823$0$0$1,632,698
86$7,460,437$0$0$1,765,120
87$8,047,579$0$0$1,909,974
88$8,689,134$0$0$2,068,495
89$9,390,480$0$0$2,242,042
90$10,157,538$0$0$2,432,111
91$10,996,826$0$0$2,640,351
92$11,915,523$0$0$2,868,576
93$12,921,533$0$0$3,118,786
94$14,023,561$0$0$3,393,183
95$15,231,192$0$0$3,694,190
96$16,554,985$0$0$4,024,480
97$18,006,567$0$0$4,386,994
98$19,598,743$0$0$4,784,973
99$21,345,620$0$0$5,221,987
100$23,262,734$0$0$5,701,968