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%11.1%
1 years$81,258$80,534$79,828$79,139$78,466$78,102
2 years$40,227$39,477$38,751$38,047$37,365$36,998
3 years$26,551$25,799$25,075$24,377$23,706$23,347
4 years$19,715$18,965$18,248$17,562$16,907$16,559
5 years$15,614$14,869$14,161$13,490$12,852$12,516
6 years$12,881$12,141$11,444$10,788$10,170$9,845
7 years$10,930$10,196$9,510$8,869$8,271$7,959
8 years$9,467$8,740$8,065$7,440$6,861$6,562
9 years$8,330$7,610$6,947$6,337$5,778$5,491
10 years$7,421$6,708$6,056$5,463$4,923$4,648
11 years$6,678$5,972$5,332$4,754$4,234$3,971
12 years$6,059$5,360$4,732$4,170$3,669$3,418
13 years$5,535$4,844$4,228$3,682$3,200$2,960
14 years$5,087$4,403$3,799$3,268$2,805$2,576
15 years$4,699$4,022$3,430$2,915$2,470$2,252
16 years$4,359$3,690$3,109$2,610$2,183$1,976
17 years$4,060$3,398$2,829$2,345$1,935$1,739
18 years$3,795$3,140$2,583$2,113$1,721$1,534
19 years$3,558$2,910$2,365$1,909$1,534$1,357
20 years$3,344$2,704$2,170$1,729$1,370$1,203
21 years$3,152$2,519$1,996$1,569$1,226$1,068
22 years$2,977$2,351$1,840$1,427$1,099$949
23 years$2,817$2,199$1,699$1,300$986$845
24 years$2,671$2,061$1,571$1,185$887$753
25 years$2,537$1,934$1,455$1,083$798$672
26 years$2,413$1,817$1,349$990$719$600
27 years$2,299$1,710$1,253$906$648$537
28 years$2,193$1,612$1,165$830$585$480
29 years$2,095$1,520$1,084$761$528$430
30 years$2,003$1,436$1,010$699$477$385
31 years$1,917$1,357$941$642$431$345
32 years$1,837$1,284$878$590$390$309
33 years$1,762$1,216$820$542$353$277
34 years$1,692$1,153$766$499$320$249
35 years$1,625$1,093$716$459$290$223
36 years$1,563$1,038$670$423$262$201
37 years$1,504$986$627$390$238$180
38 years$1,448$937$587$359$216$162
39 years$1,395$891$550$331$195$145
40 years$1,345$847$516$305$177$131
41 years$1,298$807$484$282$161$117
42 years$1,253$768$454$260$146$105
43 years$1,210$732$426$240$132$95
44 years$1,169$698$400$222$120$85
45 years$1,130$665$375$205$109$77
46 years$1,093$635$352$189$99$69
47 years$1,058$606$331$175$90$62
48 years$1,024$578$311$161$82$56
49 years$992$552$292$149$74$50
50 years$961$528$275$138$67$45

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $984,000, adding $5,258 every year, while hoping to spend $33,270 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: 71/13/16 Blend
52$984,000$984,000$984,000$984,000
53$1,089,792$1,037,640$1,022,388$1,162,783
54$1,165,551$1,053,085$1,021,239$1,227,411
55$1,247,923$1,068,172$1,018,936$1,293,631
56$1,337,547$1,082,848$1,015,406$1,365,269
57$1,435,127$1,097,057$1,010,571$1,442,855
58$1,541,435$1,110,738$1,004,351$1,526,973
59$1,657,324$1,123,828$996,660$1,618,266
60$1,783,733$1,136,256$987,409$1,717,445
61$1,921,691$1,147,951$976,505$1,825,292
62$2,072,336$1,158,833$963,851$1,942,667
63$2,236,918$1,168,819$949,343$2,070,522
64$2,416,813$1,177,820$932,875$2,209,904
65$2,613,536$1,185,742$914,335$2,361,967
66$2,828,758$1,192,484$893,606$2,527,984
67$3,064,313$1,197,938$870,564$2,709,357
68$3,322,227$1,201,991$845,082$2,907,634
69$3,604,727$1,204,521$817,025$3,124,517
70$3,914,265$1,205,399$786,252$3,361,887
71$4,253,546$1,204,489$752,616$3,621,815
72$4,625,544$1,201,645$715,965$3,906,584
73$5,033,536$1,196,713$676,137$4,218,711
74$5,481,134$1,189,529$632,965$4,560,971
75$5,972,314$1,179,920$586,273$4,936,423
76$6,511,455$1,167,701$535,879$5,348,438
77$7,103,382$1,152,678$481,590$5,800,734
78$7,753,411$1,134,642$423,206$6,297,407
79$8,467,395$1,113,376$360,520$6,842,974
80$9,251,784$1,088,646$293,312$7,442,414
81$10,113,684$1,060,207$221,356$8,101,214
82$11,060,921$1,027,799$144,412$8,825,425
83$12,102,119$991,145$62,234$9,621,716
84$13,246,778$949,954$0$10,497,436
85$14,505,365$903,918$0$11,465,036
86$15,889,411$852,709$0$12,540,721
87$17,411,622$795,983$0$13,723,750
88$19,085,996$733,374$0$15,025,023
89$20,927,954$664,496$0$16,456,555
90$22,954,491$588,942$0$18,031,587
91$25,184,329$506,280$0$19,764,708
92$27,638,098$416,055$0$21,671,996
93$30,338,528$317,785$0$23,771,171
94$33,310,663$210,963$0$26,081,758
95$36,582,101$95,050$0$28,625,277
96$40,183,249$0$0$31,425,440
97$44,147,612$0$0$34,512,747
98$48,512,109$0$0$37,926,696
99$53,317,419$0$0$41,685,518
100$58,608,369$0$0$45,824,283