Can I retire at age 53 with 988,000?

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 $988,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.1%
1 years$81,588$80,861$80,152$79,460$78,785$77,131
2 years$40,390$39,638$38,909$38,202$37,516$35,858
3 years$26,659$25,904$25,177$24,476$23,802$22,191
4 years$19,795$19,042$18,322$17,634$16,976$15,424
5 years$15,678$14,929$14,219$13,545$12,905$11,417
6 years$12,934$12,191$11,491$10,832$10,211$8,789
7 years$10,975$10,238$9,549$8,905$8,304$6,948
8 years$9,506$8,776$8,098$7,470$6,889$5,598
9 years$8,364$7,641$6,975$6,363$5,802$4,575
10 years$7,451$6,735$6,081$5,485$4,943$3,780
11 years$6,705$5,996$5,354$4,774$4,251$3,150
12 years$6,083$5,382$4,751$4,187$3,684$2,643
13 years$5,558$4,863$4,245$3,697$3,213$2,230
14 years$5,108$4,421$3,814$3,281$2,816$1,890
15 years$4,718$4,038$3,444$2,926$2,480$1,608
16 years$4,377$3,705$3,122$2,620$2,192$1,372
17 years$4,077$3,412$2,841$2,354$1,943$1,174
18 years$3,810$3,153$2,593$2,122$1,728$1,007
19 years$3,572$2,922$2,374$1,917$1,540$865
20 years$3,358$2,715$2,179$1,736$1,376$744
21 years$3,164$2,529$2,004$1,576$1,231$641
22 years$2,989$2,361$1,847$1,433$1,103$553
23 years$2,829$2,208$1,706$1,305$990$477
24 years$2,682$2,069$1,577$1,190$890$413
25 years$2,547$1,942$1,461$1,087$801$357
26 years$2,423$1,825$1,355$994$722$309
27 years$2,308$1,717$1,258$910$651$267
28 years$2,202$1,618$1,170$833$587$232
29 years$2,103$1,527$1,088$764$530$201
30 years$2,011$1,442$1,014$701$479$174
31 years$1,925$1,363$945$644$433$151
32 years$1,845$1,290$882$592$392$131
33 years$1,769$1,221$823$544$354$113
34 years$1,699$1,158$769$501$321$98
35 years$1,632$1,098$719$461$291$85
36 years$1,569$1,042$673$425$263$74
37 years$1,510$990$630$391$239$64
38 years$1,454$941$590$361$216$56
39 years$1,401$894$553$333$196$49
40 years$1,351$851$518$307$178$42
41 years$1,303$810$486$283$161$37
42 years$1,258$771$456$261$147$32
43 years$1,215$735$427$241$133$28
44 years$1,174$701$401$223$121$24
45 years$1,135$668$377$206$110$21
46 years$1,098$637$354$190$100$18
47 years$1,062$608$332$175$90$16
48 years$1,028$581$312$162$82$14
49 years$996$554$294$150$75$12
50 years$965$530$276$138$68$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $988,000, adding $2,905 every year, while hoping to spend $43,363 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: 69/23/8 Blend
52$988,000$988,000$988,000$988,000
53$1,091,773$1,039,409$1,024,095$1,165,360
54$1,156,995$1,044,202$1,012,264$1,219,275
55$1,227,418$1,047,776$998,583$1,272,677
56$1,303,524$1,050,027$982,946$1,329,923
57$1,385,847$1,050,842$965,238$1,391,383
58$1,474,971$1,050,101$945,341$1,457,462
59$1,571,541$1,047,679$923,133$1,528,610
60$1,676,264$1,043,441$898,484$1,605,322
61$1,789,918$1,037,245$871,258$1,688,144
62$1,913,360$1,028,939$841,315$1,777,679
63$2,047,529$1,018,364$808,506$1,874,592
64$2,193,463$1,005,350$772,676$1,979,616
65$2,352,300$989,716$733,665$2,093,562
66$2,525,294$971,271$691,302$2,217,324
67$2,713,825$949,814$645,412$2,351,885
68$2,919,411$925,131$595,809$2,498,336
69$3,143,723$896,995$542,301$2,657,875
70$3,388,601$865,166$484,686$2,831,827
71$3,656,069$829,390$422,754$3,021,654
72$3,948,357$789,399$356,285$3,228,967
73$4,267,918$744,908$285,049$3,455,545
74$4,617,454$695,617$208,807$3,703,351
75$4,999,941$641,209$127,309$3,974,548
76$5,418,654$581,347$40,292$4,271,527
77$5,877,200$515,677$0$4,596,921
78$6,379,553$443,822$0$4,958,125
79$6,930,085$365,388$0$5,357,821
80$7,533,616$279,954$0$5,796,126
81$8,195,453$187,080$0$6,276,971
82$8,921,439$86,296$0$6,804,686
83$9,718,012$0$0$7,384,046
84$10,592,262$0$0$8,026,112
85$11,552,002$0$0$8,754,996
86$12,605,834$0$0$9,555,398
87$13,763,235$0$0$10,434,523
88$15,034,648$0$0$11,400,311
89$16,431,572$0$0$12,461,505
90$17,966,680$0$0$13,627,739
91$19,653,930$0$0$14,909,626
92$21,508,701$0$0$16,318,860
93$23,547,935$0$0$17,868,321
94$25,790,300$0$0$19,572,203
95$28,256,362$0$0$21,446,143
96$30,968,778$0$0$23,507,368
97$33,952,514$0$0$25,774,860
98$37,235,076$0$0$28,269,533
99$40,846,771$0$0$31,014,430
100$44,820,990$0$0$34,034,941