Can I retire at age 53 with 985,000?

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 $985,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.2%
1 years$81,340$80,616$79,909$79,219$78,545$76,553
2 years$40,268$39,518$38,791$38,086$37,403$35,409
3 years$26,578$25,825$25,100$24,402$23,730$21,796
4 years$19,735$18,984$18,267$17,580$16,924$15,066
5 years$15,630$14,884$14,176$13,503$12,866$11,088
6 years$12,895$12,154$11,456$10,799$10,180$8,484
7 years$10,941$10,207$9,520$8,878$8,279$6,666
8 years$9,477$8,749$8,074$7,448$6,868$5,337
9 years$8,339$7,618$6,954$6,344$5,784$4,333
10 years$7,429$6,715$6,063$5,468$4,928$3,555
11 years$6,684$5,978$5,337$4,759$4,239$2,942
12 years$6,065$5,365$4,737$4,174$3,673$2,451
13 years$5,541$4,849$4,232$3,685$3,203$2,053
14 years$5,092$4,407$3,802$3,271$2,808$1,727
15 years$4,704$4,026$3,433$2,918$2,472$1,458
16 years$4,364$3,694$3,113$2,612$2,185$1,234
17 years$4,065$3,402$2,832$2,347$1,937$1,048
18 years$3,799$3,143$2,586$2,115$1,723$891
19 years$3,561$2,913$2,367$1,911$1,535$759
20 years$3,348$2,707$2,172$1,731$1,371$648
21 years$3,155$2,522$1,998$1,571$1,227$553
22 years$2,980$2,354$1,842$1,428$1,100$473
23 years$2,820$2,202$1,700$1,301$987$405
24 years$2,674$2,063$1,573$1,187$888$347
25 years$2,539$1,936$1,456$1,084$799$298
26 years$2,416$1,819$1,351$991$719$255
27 years$2,301$1,712$1,254$907$649$219
28 years$2,195$1,613$1,166$831$585$188
29 years$2,097$1,522$1,085$762$528$161
30 years$2,005$1,437$1,011$699$477$139
31 years$1,919$1,359$942$642$432$119
32 years$1,839$1,286$879$590$391$102
33 years$1,764$1,218$821$543$353$88
34 years$1,693$1,154$767$499$320$76
35 years$1,627$1,095$717$460$290$65
36 years$1,564$1,039$671$423$263$56
37 years$1,505$987$628$390$238$48
38 years$1,450$938$588$360$216$41
39 years$1,397$892$551$332$196$36
40 years$1,347$848$516$306$177$31
41 years$1,299$808$484$282$161$26
42 years$1,254$769$454$260$146$23
43 years$1,211$733$426$240$133$20
44 years$1,170$698$400$222$120$17
45 years$1,131$666$376$205$109$14
46 years$1,094$635$353$189$99$12
47 years$1,059$606$331$175$90$11
48 years$1,025$579$311$162$82$9
49 years$993$553$293$149$74$8
50 years$962$528$275$138$67$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $985,000, adding $6,567 every year, while hoping to spend $29,558 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: 58/12/30 Blend
52$985,000$985,000$985,000$985,000
53$1,092,244$1,040,039$1,024,771$1,146,260
54$1,172,203$1,059,551$1,027,652$1,203,587
55$1,259,328$1,079,029$1,029,638$1,262,415
56$1,354,317$1,098,440$1,030,669$1,325,969
57$1,457,942$1,117,747$1,030,680$1,394,714
58$1,571,048$1,136,913$1,029,605$1,469,168
59$1,694,570$1,155,897$1,027,372$1,549,900
60$1,829,535$1,174,655$1,023,907$1,637,538
61$1,977,073$1,193,138$1,019,133$1,732,774
62$2,138,428$1,211,296$1,012,968$1,836,373
63$2,314,972$1,229,074$1,005,327$1,949,177
64$2,508,215$1,246,413$996,120$2,072,116
65$2,719,817$1,263,252$985,254$2,206,216
66$2,951,609$1,279,522$972,631$2,352,607
67$3,205,606$1,295,152$958,148$2,512,537
68$3,484,028$1,310,065$941,696$2,687,381
69$3,789,321$1,324,179$923,165$2,878,658
70$4,124,175$1,337,408$902,434$3,088,040
71$4,491,558$1,349,658$879,383$3,317,373
72$4,894,735$1,360,829$853,880$3,568,693
73$5,337,305$1,370,817$825,793$3,844,245
74$5,823,232$1,379,508$794,978$4,146,503
75$6,356,881$1,386,783$761,289$4,478,199
76$6,943,062$1,392,515$724,571$4,842,342
77$7,587,073$1,396,567$684,663$5,242,253
78$8,294,752$1,398,796$641,397$5,681,590
79$9,072,528$1,399,049$594,596$6,164,392
80$9,927,487$1,397,164$544,076$6,695,108
81$10,867,433$1,392,967$489,644$7,278,645
82$11,900,965$1,386,276$431,101$7,920,415
83$13,037,556$1,376,896$368,235$8,626,384
84$14,287,644$1,364,621$300,828$9,403,129
85$15,662,729$1,349,233$228,652$10,257,901
86$17,175,482$1,330,500$151,466$11,198,697
87$18,839,863$1,308,176$69,022$12,234,332
88$20,671,254$1,282,002$0$13,374,523
89$22,686,603$1,251,701$0$14,636,054
90$24,904,584$1,216,983$0$16,048,640
91$27,345,775$1,177,537$0$17,603,274
92$30,032,845$1,133,038$0$19,314,408
93$32,990,778$1,083,140$0$21,197,962
94$36,247,099$1,027,475$0$23,271,485
95$39,832,139$965,658$0$25,554,313
96$43,779,320$897,278$0$28,067,756
97$48,125,470$821,903$0$30,835,296
98$52,911,167$739,076$0$33,882,813
99$58,181,128$648,313$0$37,238,825
100$63,984,625$549,102$0$40,934,760