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%15.3%
1 years$81,093$80,370$79,666$78,978$78,306$76,600
2 years$40,145$39,397$38,673$37,970$37,289$35,578
3 years$26,497$25,747$25,024$24,328$23,657$21,996
4 years$19,675$18,926$18,211$17,527$16,873$15,273
5 years$15,583$14,839$14,132$13,462$12,826$11,294
6 years$12,855$12,117$11,421$10,766$10,149$8,685
7 years$10,908$10,176$9,491$8,851$8,254$6,858
8 years$9,448$8,722$8,049$7,425$6,847$5,519
9 years$8,313$7,594$6,933$6,325$5,767$4,505
10 years$7,406$6,694$6,044$5,452$4,913$3,718
11 years$6,664$5,959$5,321$4,745$4,226$3,094
12 years$6,046$5,349$4,722$4,162$3,662$2,593
13 years$5,524$4,834$4,219$3,674$3,193$2,185
14 years$5,077$4,394$3,791$3,262$2,799$1,849
15 years$4,689$4,014$3,423$2,909$2,465$1,571
16 years$4,351$3,683$3,103$2,604$2,178$1,338
17 years$4,052$3,392$2,824$2,340$1,931$1,144
18 years$3,787$3,134$2,578$2,109$1,717$979
19 years$3,550$2,904$2,360$1,906$1,531$840
20 years$3,338$2,699$2,166$1,726$1,367$722
21 years$3,145$2,514$1,992$1,566$1,223$621
22 years$2,971$2,347$1,836$1,424$1,097$535
23 years$2,811$2,195$1,695$1,297$984$461
24 years$2,666$2,056$1,568$1,183$885$398
25 years$2,532$1,930$1,452$1,080$796$343
26 years$2,408$1,814$1,347$988$717$297
27 years$2,294$1,707$1,251$904$647$256
28 years$2,189$1,608$1,163$828$583$222
29 years$2,090$1,517$1,082$760$527$192
30 years$1,999$1,433$1,008$697$476$166
31 years$1,913$1,355$939$640$430$144
32 years$1,834$1,282$877$588$389$124
33 years$1,759$1,214$818$541$352$108
34 years$1,688$1,150$765$498$319$93
35 years$1,622$1,091$715$458$289$81
36 years$1,560$1,036$669$422$262$70
37 years$1,501$984$626$389$237$61
38 years$1,445$935$586$358$215$53
39 years$1,392$889$549$331$195$46
40 years$1,343$846$515$305$177$40
41 years$1,295$805$483$281$161$34
42 years$1,250$767$453$260$146$30
43 years$1,207$731$425$240$132$26
44 years$1,167$696$399$221$120$22
45 years$1,128$664$374$204$109$19
46 years$1,091$633$352$189$99$17
47 years$1,056$605$330$174$90$15
48 years$1,022$577$311$161$82$13
49 years$990$551$292$149$74$11
50 years$959$526$274$138$67$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $982,000, adding $6,697 every year, while hoping to spend $26,084 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: 52/43/5 Blend
52$982,000$982,000$982,000$982,000
53$1,089,072$1,037,026$1,021,805$1,144,131
54$1,172,404$1,060,087$1,028,282$1,205,248
55$1,263,362$1,083,404$1,034,102$1,268,255
56$1,362,696$1,106,962$1,039,216$1,336,136
57$1,471,231$1,130,743$1,043,570$1,409,354
58$1,589,878$1,154,731$1,047,111$1,488,419
59$1,719,637$1,178,904$1,049,780$1,573,893
60$1,861,611$1,203,241$1,051,519$1,666,394
61$2,017,013$1,227,718$1,052,262$1,766,605
62$2,187,179$1,252,307$1,051,944$1,875,274
63$2,373,583$1,276,981$1,050,496$1,993,231
64$2,577,844$1,301,709$1,047,843$2,121,385
65$2,801,747$1,326,456$1,043,908$2,260,740
66$3,047,259$1,351,186$1,038,613$2,412,402
67$3,316,544$1,375,859$1,031,872$2,577,591
68$3,611,988$1,400,433$1,023,596$2,757,648
69$3,936,218$1,424,861$1,013,694$2,954,054
70$4,292,128$1,449,094$1,002,068$3,168,440
71$4,682,904$1,473,079$988,616$3,402,603
72$5,112,058$1,496,758$973,233$3,658,524
73$5,583,459$1,520,070$955,807$3,938,386
74$6,101,366$1,542,947$936,220$4,244,594
75$6,670,474$1,565,321$914,353$4,579,801
76$7,295,954$1,587,113$890,075$4,946,929
77$7,983,504$1,608,244$863,255$5,349,199
78$8,739,400$1,628,627$833,753$5,790,162
79$9,570,556$1,648,167$801,421$6,273,731
80$10,484,593$1,666,767$766,109$6,804,219
81$11,489,903$1,684,321$727,655$7,386,381
82$12,595,735$1,700,714$685,893$8,025,457
83$13,812,279$1,715,828$640,650$8,727,222
84$15,150,761$1,729,533$591,741$9,498,044
85$16,623,551$1,741,693$538,977$10,344,938
86$18,244,280$1,752,163$482,160$11,275,640
87$20,027,965$1,760,787$421,080$12,298,675
88$21,991,152$1,767,400$355,521$13,423,440
89$24,152,075$1,771,829$285,257$14,660,292
90$26,530,824$1,773,886$210,050$16,020,648
91$29,149,536$1,773,373$129,654$17,517,091
92$32,032,601$1,770,082$43,811$19,163,491
93$35,206,899$1,763,788$0$20,975,136
94$38,702,045$1,754,255$0$22,971,425
95$42,550,672$1,741,233$0$25,171,042
96$46,788,742$1,724,455$0$27,592,132
97$51,455,879$1,703,638$0$30,257,276
98$56,595,746$1,678,484$0$33,191,359
99$62,256,458$1,648,675$0$36,421,811
100$68,491,033$1,613,877$0$39,978,860