Can I retire at age 53 with 987,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $987,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.4%
1 years$81,506$80,780$80,071$79,380$78,705$76,338
2 years$40,349$39,598$38,870$38,163$37,478$35,114
3 years$26,632$25,878$25,151$24,452$23,778$21,490
4 years$19,775$19,023$18,304$17,616$16,959$14,765
5 years$15,662$14,914$14,204$13,531$12,892$10,797
6 years$12,921$12,178$11,479$10,821$10,201$8,208
7 years$10,963$10,227$9,539$8,896$8,296$6,405
8 years$9,496$8,767$8,090$7,463$6,882$5,092
9 years$8,356$7,633$6,968$6,357$5,796$4,104
10 years$7,444$6,728$6,075$5,480$4,938$3,343
11 years$6,698$5,990$5,348$4,769$4,247$2,745
12 years$6,077$5,376$4,746$4,183$3,680$2,269
13 years$5,552$4,858$4,241$3,693$3,209$1,885
14 years$5,102$4,416$3,810$3,278$2,813$1,572
15 years$4,713$4,034$3,440$2,924$2,477$1,316
16 years$4,373$3,701$3,119$2,618$2,189$1,105
17 years$4,073$3,409$2,838$2,352$1,941$930
18 years$3,806$3,150$2,591$2,120$1,726$784
19 years$3,568$2,919$2,372$1,915$1,538$662
20 years$3,355$2,713$2,177$1,735$1,374$560
21 years$3,161$2,527$2,002$1,574$1,230$474
22 years$2,986$2,359$1,845$1,431$1,102$401
23 years$2,826$2,206$1,704$1,304$989$340
24 years$2,679$2,067$1,576$1,189$889$289
25 years$2,545$1,940$1,459$1,086$800$245
26 years$2,421$1,823$1,354$993$721$208
27 years$2,306$1,716$1,257$909$650$177
28 years$2,200$1,617$1,168$833$586$150
29 years$2,101$1,525$1,087$764$530$128
30 years$2,009$1,440$1,013$701$478$109
31 years$1,923$1,362$944$644$433$93
32 years$1,843$1,288$881$591$391$79
33 years$1,768$1,220$823$544$354$67
34 years$1,697$1,156$769$500$321$57
35 years$1,630$1,097$719$461$290$49
36 years$1,568$1,041$672$424$263$41
37 years$1,508$989$629$391$238$35
38 years$1,452$940$589$360$216$30
39 years$1,400$893$552$332$196$26
40 years$1,349$850$517$306$178$22
41 years$1,302$809$485$283$161$19
42 years$1,257$771$455$261$146$16
43 years$1,214$734$427$241$133$13
44 years$1,173$700$401$222$121$11
45 years$1,134$667$376$205$109$10
46 years$1,097$637$354$190$99$8
47 years$1,061$608$332$175$90$7
48 years$1,027$580$312$162$82$6
49 years$995$554$293$150$74$5
50 years$964$529$276$138$68$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $987,000, adding $6,301 every year, while hoping to spend $57,407 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: 45/30/25 Blend
52$987,000$987,000$987,000$987,000
53$1,094,173$1,041,862$1,026,564$1,135,265
54$1,144,699$1,031,833$999,873$1,154,929
55$1,198,453$1,019,388$970,364$1,170,178
56$1,255,706$1,004,349$937,882$1,185,581
57$1,316,752$986,526$902,265$1,201,183
58$1,381,912$965,717$863,343$1,217,037
59$1,451,541$941,711$820,938$1,233,205
60$1,526,025$914,282$774,867$1,249,761
61$1,605,789$883,191$724,934$1,266,791
62$1,691,299$848,187$670,938$1,284,392
63$1,783,064$809,001$612,668$1,302,682
64$1,881,646$765,351$549,902$1,321,790
65$1,987,660$716,939$482,409$1,341,870
66$2,101,780$663,449$409,949$1,363,094
67$2,224,750$604,546$332,271$1,385,660
68$2,357,383$539,877$249,110$1,409,793
69$2,500,574$469,069$160,194$1,435,750
70$2,655,308$391,728$65,235$1,463,819
71$2,822,663$307,437$0$1,494,329
72$3,003,829$215,756$0$1,537,280
73$3,200,112$116,220$0$1,602,656
74$3,412,947$8,339$0$1,673,593
75$3,643,914$0$0$1,750,712
76$3,894,749$0$0$1,870,488
77$4,167,362$0$0$2,003,758
78$4,463,855$0$0$2,148,810
79$4,786,541$0$0$2,306,788
80$5,137,963$0$0$2,478,952
81$5,520,920$0$0$2,666,688
82$5,938,494$0$0$2,871,523
83$6,394,076$0$0$3,095,134
84$6,891,397$0$0$3,339,371
85$7,434,566$0$0$3,606,270
86$8,028,106$0$0$3,898,070
87$8,676,997$0$0$4,217,238
88$9,386,720$0$0$4,566,490
89$10,163,312$0$0$4,948,818
90$11,013,420$0$0$5,367,515
91$11,944,362$0$0$5,826,207
92$12,964,199$0$0$6,328,889
93$14,081,807$0$0$6,879,959
94$15,306,962$0$0$7,484,262
95$16,650,430$0$0$8,147,134
96$18,124,070$0$0$8,874,453
97$19,740,943$0$0$9,672,692
98$21,515,435$0$0$10,548,982
99$23,463,395$0$0$11,511,179
100$25,602,278$0$0$12,567,935