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%14.4%
1 years$81,175$80,452$79,747$79,058$78,386$76,961
2 years$40,186$39,437$38,712$38,009$37,327$35,896
3 years$26,524$25,773$25,049$24,353$23,682$22,290
4 years$19,695$18,946$18,229$17,545$16,890$15,548
5 years$15,599$14,854$14,147$13,476$12,839$11,551
6 years$12,868$12,129$11,433$10,777$10,159$8,926
7 years$10,919$10,186$9,501$8,860$8,262$7,084
8 years$9,458$8,731$8,057$7,433$6,854$5,731
9 years$8,322$7,602$6,940$6,331$5,772$4,704
10 years$7,413$6,701$6,050$5,457$4,918$3,903
11 years$6,671$5,965$5,327$4,750$4,230$3,267
12 years$6,052$5,354$4,727$4,166$3,666$2,754
13 years$5,530$4,839$4,223$3,678$3,196$2,334
14 years$5,082$4,398$3,795$3,265$2,802$1,987
15 years$4,694$4,018$3,426$2,912$2,467$1,699
16 years$4,355$3,686$3,106$2,607$2,180$1,457
17 years$4,056$3,395$2,827$2,342$1,933$1,253
18 years$3,791$3,137$2,580$2,111$1,719$1,080
19 years$3,554$2,907$2,362$1,907$1,532$932
20 years$3,341$2,702$2,168$1,728$1,369$807
21 years$3,148$2,517$1,994$1,568$1,225$699
22 years$2,974$2,349$1,838$1,426$1,098$606
23 years$2,814$2,197$1,697$1,298$985$526
24 years$2,668$2,059$1,569$1,184$886$457
25 years$2,534$1,932$1,454$1,081$797$397
26 years$2,411$1,816$1,348$989$718$346
27 years$2,297$1,709$1,252$905$647$301
28 years$2,191$1,610$1,164$829$584$262
29 years$2,093$1,519$1,083$760$527$229
30 years$2,001$1,434$1,009$698$477$199
31 years$1,915$1,356$940$641$431$174
32 years$1,835$1,283$877$589$390$152
33 years$1,760$1,215$819$542$353$132
34 years$1,690$1,152$765$498$319$116
35 years$1,624$1,092$716$459$289$101
36 years$1,561$1,037$669$423$262$88
37 years$1,502$985$627$389$238$77
38 years$1,447$936$587$359$215$67
39 years$1,394$890$550$331$195$59
40 years$1,344$847$515$305$177$51
41 years$1,297$806$483$282$161$45
42 years$1,252$768$453$260$146$39
43 years$1,209$731$425$240$132$34
44 years$1,168$697$399$221$120$30
45 years$1,129$665$375$205$109$26
46 years$1,092$634$352$189$99$23
47 years$1,057$605$331$175$90$20
48 years$1,023$578$311$161$82$17
49 years$991$552$292$149$74$15
50 years$960$527$275$138$67$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $983,000, adding $6,787 every year, while hoping to spend $23,761 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: 31/42/27 Blend
52$983,000$983,000$983,000$983,000
53$1,090,267$1,038,168$1,022,931$1,114,868
54$1,176,192$1,063,756$1,031,918$1,159,981
55$1,270,086$1,089,803$1,040,409$1,205,950
56$1,372,736$1,116,304$1,048,364$1,254,963
57$1,485,008$1,143,256$1,055,737$1,307,302
58$1,607,858$1,170,655$1,062,484$1,363,277
59$1,742,337$1,198,495$1,068,555$1,423,233
60$1,889,604$1,226,769$1,073,899$1,487,547
61$2,050,932$1,255,469$1,078,463$1,556,637
62$2,227,726$1,284,586$1,082,191$1,630,963
63$2,421,533$1,314,109$1,085,023$1,711,031
64$2,634,055$1,344,026$1,086,897$1,797,401
65$2,867,168$1,374,323$1,087,748$1,890,690
66$3,122,939$1,404,985$1,087,507$1,991,576
67$3,403,642$1,435,993$1,086,102$2,100,811
68$3,711,786$1,467,329$1,083,459$2,219,220
69$4,050,132$1,498,971$1,079,498$2,347,717
70$4,421,720$1,530,896$1,074,136$2,487,305
71$4,829,902$1,563,076$1,067,286$2,639,096
72$5,278,370$1,595,485$1,058,858$2,804,310
73$5,771,189$1,628,089$1,048,756$2,984,298
74$6,312,841$1,660,856$1,036,879$3,180,548
75$6,908,260$1,693,747$1,023,124$3,394,698
76$7,562,885$1,726,723$1,007,381$3,628,560
77$8,282,705$1,759,739$989,535$3,884,128
78$9,074,322$1,792,747$969,465$4,163,602
79$9,945,008$1,825,697$947,047$4,469,410
80$10,902,775$1,858,531$922,149$4,804,227
81$11,956,450$1,891,191$894,633$5,171,003
82$13,115,760$1,923,612$864,355$5,572,995
83$14,391,422$1,955,723$831,165$6,013,789
84$15,795,243$1,987,450$794,906$6,497,343
85$17,340,236$2,018,713$755,413$7,028,020
86$19,040,734$2,049,425$712,514$7,610,632
87$20,912,535$2,079,493$666,029$8,250,484
88$22,973,044$2,108,818$615,771$8,953,427
89$25,241,438$2,137,294$561,544$9,725,910
90$27,738,851$2,164,807$503,141$10,575,045
91$30,488,568$2,191,237$440,351$11,508,675
92$33,516,247$2,216,452$372,947$12,535,445
93$36,850,161$2,240,316$300,698$13,664,889
94$40,521,465$2,262,679$223,359$14,907,515
95$44,564,489$2,283,384$140,676$16,274,911
96$49,017,061$2,302,264$52,383$17,779,853
97$53,920,865$2,319,139$0$19,436,424
98$59,321,836$2,333,820$0$21,272,207
99$65,270,588$2,346,102$0$23,309,152
100$71,822,898$2,355,771$0$25,551,112