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%12.7%
1 years$81,175$80,452$79,747$79,058$78,386$77,503
2 years$40,186$39,437$38,712$38,009$37,327$36,438
3 years$26,524$25,773$25,049$24,353$23,682$22,814
4 years$19,695$18,946$18,229$17,545$16,890$16,051
5 years$15,599$14,854$14,147$13,476$12,839$12,031
6 years$12,868$12,129$11,433$10,777$10,159$9,383
7 years$10,919$10,186$9,501$8,860$8,262$7,518
8 years$9,458$8,731$8,057$7,433$6,854$6,142
9 years$8,322$7,602$6,940$6,331$5,772$5,092
10 years$7,413$6,701$6,050$5,457$4,918$4,269
11 years$6,671$5,965$5,327$4,750$4,230$3,612
12 years$6,052$5,354$4,727$4,166$3,666$3,077
13 years$5,530$4,839$4,223$3,678$3,196$2,638
14 years$5,082$4,398$3,795$3,265$2,802$2,272
15 years$4,694$4,018$3,426$2,912$2,467$1,965
16 years$4,355$3,686$3,106$2,607$2,180$1,705
17 years$4,056$3,395$2,827$2,342$1,933$1,484
18 years$3,791$3,137$2,580$2,111$1,719$1,295
19 years$3,554$2,907$2,362$1,907$1,532$1,132
20 years$3,341$2,702$2,168$1,728$1,369$992
21 years$3,148$2,517$1,994$1,568$1,225$870
22 years$2,974$2,349$1,838$1,426$1,098$764
23 years$2,814$2,197$1,697$1,298$985$672
24 years$2,668$2,059$1,569$1,184$886$592
25 years$2,534$1,932$1,454$1,081$797$522
26 years$2,411$1,816$1,348$989$718$460
27 years$2,297$1,709$1,252$905$647$406
28 years$2,191$1,610$1,164$829$584$359
29 years$2,093$1,519$1,083$760$527$317
30 years$2,001$1,434$1,009$698$477$280
31 years$1,915$1,356$940$641$431$248
32 years$1,835$1,283$877$589$390$219
33 years$1,760$1,215$819$542$353$194
34 years$1,690$1,152$765$498$319$172
35 years$1,624$1,092$716$459$289$152
36 years$1,561$1,037$669$423$262$135
37 years$1,502$985$627$389$238$119
38 years$1,447$936$587$359$215$106
39 years$1,394$890$550$331$195$94
40 years$1,344$847$515$305$177$83
41 years$1,297$806$483$282$161$74
42 years$1,252$768$453$260$146$65
43 years$1,209$731$425$240$132$58
44 years$1,168$697$399$221$120$51
45 years$1,129$665$375$205$109$46
46 years$1,092$634$352$189$99$40
47 years$1,057$605$331$175$90$36
48 years$1,023$578$311$161$82$32
49 years$991$552$292$149$74$28
50 years$960$527$275$138$67$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $983,000, adding $2,744 every year, while hoping to spend $58,306 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: 76/5/19 Blend
52$983,000$983,000$983,000$983,000
53$1,086,096$1,033,997$1,018,761$1,163,665
54$1,134,841$1,022,626$990,852$1,204,014
55$1,186,604$1,008,744$960,055$1,240,759
56$1,241,630$992,165$926,209$1,279,503
57$1,300,190$972,695$889,151$1,320,430
58$1,362,579$950,126$848,707$1,363,741
59$1,429,118$924,239$804,695$1,409,660
60$1,500,163$894,801$756,927$1,458,435
61$1,576,101$861,568$705,205$1,510,337
62$1,657,356$824,277$649,323$1,565,671
63$1,744,395$782,655$589,063$1,624,768
64$1,837,728$736,411$524,202$1,687,997
65$1,937,917$685,235$454,503$1,755,767
66$2,045,576$628,803$379,721$1,828,527
67$2,161,382$566,771$299,598$1,906,774
68$2,286,074$498,775$213,866$1,991,058
69$2,420,469$424,430$122,246$2,081,986
70$2,565,460$343,331$24,445$2,180,229
71$2,722,031$255,047$0$2,286,529
72$2,891,261$159,128$0$2,417,906
73$3,074,338$55,093$0$2,565,404
74$3,272,565$0$0$2,725,127
75$3,487,378$0$0$2,901,416
76$3,720,354$0$0$3,095,928
77$3,973,227$0$0$3,307,086
78$4,247,905$0$0$3,536,487
79$4,546,487$0$0$3,785,887
80$4,871,280$0$0$4,057,219
81$5,224,826$0$0$4,352,609
82$5,609,919$0$0$4,674,399
83$6,029,635$0$0$5,025,162
84$6,487,357$0$0$5,407,733
85$6,986,813$0$0$5,825,232
86$7,532,102$0$0$6,281,092
87$8,127,738$0$0$6,779,093
88$8,778,691$0$0$7,323,396
89$9,490,432$0$0$7,918,582
90$10,268,985$0$0$8,569,695
91$11,120,982$0$0$9,282,289
92$12,053,725$0$0$10,062,481
93$13,075,259$0$0$10,917,004
94$14,194,438$0$0$11,853,274
95$15,421,017$0$0$12,879,461
96$16,765,738$0$0$14,004,559
97$18,240,431$0$0$15,238,476
98$19,858,128$0$0$16,592,125
99$21,633,180$0$0$18,077,524
100$23,581,398$0$0$19,707,913