Can I retire at age 53 with 983,000?

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 $983,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$81,175$80,452$79,747$79,058$78,386$77,471
2 years$40,186$39,437$38,712$38,009$37,327$36,405
3 years$26,524$25,773$25,049$24,353$23,682$22,783
4 years$19,695$18,946$18,229$17,545$16,890$16,021
5 years$15,599$14,854$14,147$13,476$12,839$12,002
6 years$12,868$12,129$11,433$10,777$10,159$9,355
7 years$10,919$10,186$9,501$8,860$8,262$7,492
8 years$9,458$8,731$8,057$7,433$6,854$6,117
9 years$8,322$7,602$6,940$6,331$5,772$5,068
10 years$7,413$6,701$6,050$5,457$4,918$4,247
11 years$6,671$5,965$5,327$4,750$4,230$3,590
12 years$6,052$5,354$4,727$4,166$3,666$3,057
13 years$5,530$4,839$4,223$3,678$3,196$2,619
14 years$5,082$4,398$3,795$3,265$2,802$2,254
15 years$4,694$4,018$3,426$2,912$2,467$1,948
16 years$4,355$3,686$3,106$2,607$2,180$1,689
17 years$4,056$3,395$2,827$2,342$1,933$1,469
18 years$3,791$3,137$2,580$2,111$1,719$1,281
19 years$3,554$2,907$2,362$1,907$1,532$1,119
20 years$3,341$2,702$2,168$1,728$1,369$980
21 years$3,148$2,517$1,994$1,568$1,225$859
22 years$2,974$2,349$1,838$1,426$1,098$754
23 years$2,814$2,197$1,697$1,298$985$663
24 years$2,668$2,059$1,569$1,184$886$583
25 years$2,534$1,932$1,454$1,081$797$514
26 years$2,411$1,816$1,348$989$718$453
27 years$2,297$1,709$1,252$905$647$399
28 years$2,191$1,610$1,164$829$584$352
29 years$2,093$1,519$1,083$760$527$311
30 years$2,001$1,434$1,009$698$477$275
31 years$1,915$1,356$940$641$431$243
32 years$1,835$1,283$877$589$390$215
33 years$1,760$1,215$819$542$353$190
34 years$1,690$1,152$765$498$319$168
35 years$1,624$1,092$716$459$289$149
36 years$1,561$1,037$669$423$262$132
37 years$1,502$985$627$389$238$116
38 years$1,447$936$587$359$215$103
39 years$1,394$890$550$331$195$91
40 years$1,344$847$515$305$177$81
41 years$1,297$806$483$282$161$72
42 years$1,252$768$453$260$146$63
43 years$1,209$731$425$240$132$56
44 years$1,168$697$399$221$120$50
45 years$1,129$665$375$205$109$44
46 years$1,092$634$352$189$99$39
47 years$1,057$605$331$175$90$35
48 years$1,023$578$311$161$82$31
49 years$991$552$292$149$74$27
50 years$960$527$275$138$67$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $983,000, adding $5,826 every year, while hoping to spend $43,173 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: 25/49/26 Blend
52$983,000$983,000$983,000$983,000
53$1,089,276$1,037,177$1,021,940$1,107,470
54$1,154,446$1,042,062$1,010,239$1,127,816
55$1,224,817$1,045,741$996,700$1,145,540
56$1,300,873$1,048,107$981,214$1,163,635
57$1,383,147$1,049,049$963,670$1,182,162
58$1,472,225$1,048,450$943,950$1,201,188
59$1,568,751$1,046,183$921,931$1,220,794
60$1,673,433$1,042,115$897,485$1,241,073
61$1,787,049$1,036,105$870,477$1,262,129
62$1,910,457$1,028,003$840,767$1,284,084
63$2,044,598$1,017,649$808,206$1,307,077
64$2,190,508$1,004,875$772,643$1,331,264
65$2,349,328$989,502$733,914$1,356,826
66$2,522,312$971,341$691,853$1,383,964
67$2,710,841$950,190$646,284$1,412,909
68$2,916,435$925,837$597,022$1,443,922
69$3,140,766$898,057$543,877$1,477,295
70$3,385,674$866,612$486,647$1,513,360
71$3,653,186$831,250$425,123$1,552,489
72$3,945,533$791,703$359,086$1,595,102
73$4,265,171$747,689$288,309$1,641,667
74$4,614,803$698,911$212,552$1,692,713
75$4,997,407$645,052$131,567$1,748,832
76$5,416,262$585,778$45,093$1,810,684
77$5,874,976$520,737$0$1,879,011
78$6,377,527$449,557$0$1,967,732
79$6,928,292$371,842$0$2,078,880
80$7,532,093$287,178$0$2,201,048
81$8,194,241$195,124$0$2,335,471
82$8,920,585$95,217$0$2,483,521
83$9,717,568$0$0$2,646,722
84$10,592,286$0$0$2,833,790
85$11,552,557$0$0$3,095,686
86$12,606,991$0$0$3,383,441
87$13,765,073$0$0$3,699,664
88$15,037,253$0$0$4,047,233
89$16,435,042$0$0$4,429,314
90$17,971,121$0$0$4,849,400
91$19,659,461$0$0$5,311,336
92$21,515,453$0$0$5,819,359
93$23,556,054$0$0$6,378,138
94$25,799,946$0$0$6,992,816
95$28,267,712$0$0$7,669,061
96$30,982,029$0$0$8,413,117
97$33,967,884$0$0$9,231,863
98$37,252,805$0$0$10,132,881
99$40,867,125$0$0$11,124,522
100$44,844,262$0$0$12,215,991