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%15.6%
1 years$81,340$80,616$79,909$79,219$78,545$76,740
2 years$40,268$39,518$38,791$38,086$37,403$35,594
3 years$26,578$25,825$25,100$24,402$23,730$21,974
4 years$19,735$18,984$18,267$17,580$16,924$15,235
5 years$15,630$14,884$14,176$13,503$12,866$11,247
6 years$12,895$12,154$11,456$10,799$10,180$8,635
7 years$10,941$10,207$9,520$8,878$8,279$6,807
8 years$9,477$8,749$8,074$7,448$6,868$5,469
9 years$8,339$7,618$6,954$6,344$5,784$4,456
10 years$7,429$6,715$6,063$5,468$4,928$3,670
11 years$6,684$5,978$5,337$4,759$4,239$3,049
12 years$6,065$5,365$4,737$4,174$3,673$2,550
13 years$5,541$4,849$4,232$3,685$3,203$2,144
14 years$5,092$4,407$3,802$3,271$2,808$1,811
15 years$4,704$4,026$3,433$2,918$2,472$1,535
16 years$4,364$3,694$3,113$2,612$2,185$1,305
17 years$4,065$3,402$2,832$2,347$1,937$1,113
18 years$3,799$3,143$2,586$2,115$1,723$951
19 years$3,561$2,913$2,367$1,911$1,535$814
20 years$3,348$2,707$2,172$1,731$1,371$698
21 years$3,155$2,522$1,998$1,571$1,227$599
22 years$2,980$2,354$1,842$1,428$1,100$514
23 years$2,820$2,202$1,700$1,301$987$442
24 years$2,674$2,063$1,573$1,187$888$381
25 years$2,539$1,936$1,456$1,084$799$328
26 years$2,416$1,819$1,351$991$719$283
27 years$2,301$1,712$1,254$907$649$244
28 years$2,195$1,613$1,166$831$585$210
29 years$2,097$1,522$1,085$762$528$182
30 years$2,005$1,437$1,011$699$477$157
31 years$1,919$1,359$942$642$432$135
32 years$1,839$1,286$879$590$391$117
33 years$1,764$1,218$821$543$353$101
34 years$1,693$1,154$767$499$320$87
35 years$1,627$1,095$717$460$290$75
36 years$1,564$1,039$671$423$263$65
37 years$1,505$987$628$390$238$56
38 years$1,450$938$588$360$216$49
39 years$1,397$892$551$332$196$42
40 years$1,347$848$516$306$177$36
41 years$1,299$808$484$282$161$31
42 years$1,254$769$454$260$146$27
43 years$1,211$733$426$240$133$24
44 years$1,170$698$400$222$120$20
45 years$1,131$666$376$205$109$18
46 years$1,094$635$353$189$99$15
47 years$1,059$606$331$175$90$13
48 years$1,025$579$311$162$82$11
49 years$993$553$293$149$74$10
50 years$962$528$275$138$67$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $985,000, adding $5,378 every year, while hoping to spend $34,391 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: 80/14/6 Blend
52$985,000$985,000$985,000$985,000
53$1,091,017$1,038,812$1,023,545$1,177,369
54$1,165,709$1,053,122$1,021,242$1,248,989
55$1,246,867$1,066,981$1,017,709$1,322,458
56$1,335,115$1,080,330$1,012,869$1,402,024
57$1,431,136$1,093,106$1,006,640$1,488,278
58$1,535,688$1,105,244$998,938$1,581,870
59$1,649,598$1,116,671$989,673$1,683,515
60$1,773,781$1,127,312$978,751$1,794,003
61$1,909,243$1,137,086$966,075$1,914,201
62$2,057,090$1,145,907$951,543$2,045,066
63$2,218,540$1,153,684$935,046$2,187,653
64$2,394,933$1,160,317$916,473$2,343,122
65$2,587,748$1,165,704$895,706$2,512,753
66$2,798,608$1,169,733$872,622$2,697,954
67$3,029,303$1,172,287$847,092$2,900,279
68$3,281,805$1,173,242$818,982$3,121,437
69$3,558,282$1,172,464$788,151$3,363,314
70$3,861,124$1,169,812$754,452$3,627,987
71$4,192,964$1,165,138$717,731$3,917,744
72$4,556,698$1,158,281$677,826$4,235,107
73$4,955,518$1,149,074$634,571$4,582,855
74$5,392,940$1,137,338$587,788$4,964,050
75$5,872,836$1,122,884$537,295$5,382,066
76$6,399,471$1,105,510$482,900$5,840,623
77$6,977,542$1,085,005$424,402$6,343,818
78$7,612,224$1,061,143$361,592$6,896,167
79$8,309,217$1,033,686$294,252$7,502,648
80$9,074,801$1,002,380$222,153$8,168,744
81$9,915,892$966,958$145,057$8,900,501
82$10,840,112$927,138$62,715$9,704,581
83$11,855,856$882,620$0$10,588,323
84$12,972,372$833,087$0$11,561,431
85$14,199,850$778,205$0$12,635,599
86$15,549,516$717,618$0$13,816,652
87$17,033,739$650,953$0$15,115,441
88$18,666,144$577,814$0$16,543,920
89$20,461,746$497,783$0$18,115,264
90$22,437,087$410,417$0$19,843,991
91$24,610,393$315,250$0$21,746,101
92$27,001,744$211,788$0$23,839,225
93$29,633,267$99,511$0$26,142,793
94$32,529,343$0$0$28,678,219
95$35,716,832$0$0$31,472,508
96$39,225,335$0$0$34,565,117
97$43,087,464$0$0$37,969,468
98$47,339,157$0$0$41,717,243
99$52,020,011$0$0$45,843,349
100$57,173,658$0$0$50,386,253