Can I retire at age 53 with 984,000?

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 $984,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.6%
1 years$81,258$80,534$79,828$79,139$78,466$75,742
2 years$40,227$39,477$38,751$38,047$37,365$34,649
3 years$26,551$25,799$25,075$24,377$23,706$21,083
4 years$19,715$18,965$18,248$17,562$16,907$14,397
5 years$15,614$14,869$14,161$13,490$12,852$10,463
6 years$12,881$12,141$11,444$10,788$10,170$7,901
7 years$10,930$10,196$9,510$8,869$8,271$6,124
8 years$9,467$8,740$8,065$7,440$6,861$4,834
9 years$8,330$7,610$6,947$6,337$5,778$3,868
10 years$7,421$6,708$6,056$5,463$4,923$3,126
11 years$6,678$5,972$5,332$4,754$4,234$2,547
12 years$6,059$5,360$4,732$4,170$3,669$2,089
13 years$5,535$4,844$4,228$3,682$3,200$1,721
14 years$5,087$4,403$3,799$3,268$2,805$1,424
15 years$4,699$4,022$3,430$2,915$2,470$1,182
16 years$4,359$3,690$3,109$2,610$2,183$984
17 years$4,060$3,398$2,829$2,345$1,935$820
18 years$3,795$3,140$2,583$2,113$1,721$685
19 years$3,558$2,910$2,365$1,909$1,534$574
20 years$3,344$2,704$2,170$1,729$1,370$481
21 years$3,152$2,519$1,996$1,569$1,226$403
22 years$2,977$2,351$1,840$1,427$1,099$338
23 years$2,817$2,199$1,699$1,300$986$284
24 years$2,671$2,061$1,571$1,185$887$239
25 years$2,537$1,934$1,455$1,083$798$201
26 years$2,413$1,817$1,349$990$719$169
27 years$2,299$1,710$1,253$906$648$142
28 years$2,193$1,612$1,165$830$585$120
29 years$2,095$1,520$1,084$761$528$101
30 years$2,003$1,436$1,010$699$477$85
31 years$1,917$1,357$941$642$431$72
32 years$1,837$1,284$878$590$390$60
33 years$1,762$1,216$820$542$353$51
34 years$1,692$1,153$766$499$320$43
35 years$1,625$1,093$716$459$290$36
36 years$1,563$1,038$670$423$262$30
37 years$1,504$986$627$390$238$26
38 years$1,448$937$587$359$216$22
39 years$1,395$891$550$331$195$18
40 years$1,345$847$516$305$177$15
41 years$1,298$807$484$282$161$13
42 years$1,253$768$454$260$146$11
43 years$1,210$732$426$240$132$9
44 years$1,169$698$400$222$120$8
45 years$1,130$665$375$205$109$7
46 years$1,093$635$352$189$99$6
47 years$1,058$606$331$175$90$5
48 years$1,024$578$311$161$82$4
49 years$992$552$292$149$74$3
50 years$961$528$275$138$67$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $984,000, adding $4,731 every year, while hoping to spend $42,421 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: 71/7/22 Blend
52$984,000$984,000$984,000$984,000
53$1,089,248$1,037,096$1,021,844$1,160,334
54$1,155,216$1,042,778$1,010,940$1,214,049
55$1,226,490$1,047,317$998,249$1,267,381
56$1,303,568$1,050,611$983,667$1,324,737
57$1,386,996$1,052,555$967,083$1,386,510
58$1,477,372$1,053,033$948,383$1,453,136
59$1,575,357$1,051,925$927,447$1,525,094
60$1,681,677$1,049,102$904,150$1,602,914
61$1,797,129$1,044,429$878,359$1,687,181
62$1,922,590$1,037,760$849,938$1,778,540
63$2,059,026$1,028,942$818,743$1,877,701
64$2,207,499$1,017,812$784,623$1,985,451
65$2,369,177$1,004,199$747,422$2,102,654
66$2,545,347$987,918$706,974$2,230,268
67$2,737,423$968,777$663,109$2,369,344
68$2,946,963$946,570$615,646$2,521,048
69$3,175,682$921,080$564,398$2,686,660
70$3,425,466$892,078$509,170$2,867,598
71$3,698,392$859,319$449,756$3,065,421
72$3,996,749$822,545$385,944$3,281,852
73$4,323,053$781,486$317,508$3,518,790
74$4,680,077$735,851$244,217$3,778,331
75$5,070,873$685,337$165,827$4,062,786
76$5,498,804$629,620$82,084$4,374,702
77$5,967,571$568,360$0$4,716,893
78$6,481,251$501,197$0$5,094,167
79$7,044,333$427,751$0$5,528,909
80$7,661,762$347,618$0$6,005,669
81$8,338,985$260,374$0$6,528,676
82$9,082,000$165,571$0$7,102,591
83$9,897,414$62,734$0$7,732,548
84$10,792,505$0$0$8,424,203
85$11,775,291$0$0$9,187,538
86$12,854,602$0$0$10,031,203
87$14,040,167$0$0$10,957,979
88$15,342,704$0$0$11,976,248
89$16,774,018$0$0$13,095,249
90$18,347,116$0$0$14,325,157
91$20,076,328$0$0$15,677,182
92$21,977,440$0$0$17,163,676
93$24,067,846$0$0$18,798,246
94$26,366,707$0$0$20,595,884
95$28,895,137$0$0$22,573,108
96$31,676,395$0$0$24,748,117
97$34,736,111$0$0$27,140,962
98$38,102,524$0$0$29,773,736
99$41,806,745$0$0$32,670,782
100$45,883,056$0$0$35,858,921