Can I retire at age 53 with 988,000?

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 $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%16.1%
1 years$81,588$80,861$80,152$79,460$78,785$76,818
2 years$40,390$39,638$38,909$38,202$37,516$35,547
3 years$26,659$25,904$25,177$24,476$23,802$21,892
4 years$19,795$19,042$18,322$17,634$16,976$15,140
5 years$15,678$14,929$14,219$13,545$12,905$11,148
6 years$12,934$12,191$11,491$10,832$10,211$8,535
7 years$10,975$10,238$9,549$8,905$8,304$6,709
8 years$9,506$8,776$8,098$7,470$6,889$5,375
9 years$8,364$7,641$6,975$6,363$5,802$4,366
10 years$7,451$6,735$6,081$5,485$4,943$3,585
11 years$6,705$5,996$5,354$4,774$4,251$2,969
12 years$6,083$5,382$4,751$4,187$3,684$2,475
13 years$5,558$4,863$4,245$3,697$3,213$2,074
14 years$5,108$4,421$3,814$3,281$2,816$1,746
15 years$4,718$4,038$3,444$2,926$2,480$1,475
16 years$4,377$3,705$3,122$2,620$2,192$1,250
17 years$4,077$3,412$2,841$2,354$1,943$1,061
18 years$3,810$3,153$2,593$2,122$1,728$903
19 years$3,572$2,922$2,374$1,917$1,540$770
20 years$3,358$2,715$2,179$1,736$1,376$658
21 years$3,164$2,529$2,004$1,576$1,231$563
22 years$2,989$2,361$1,847$1,433$1,103$481
23 years$2,829$2,208$1,706$1,305$990$412
24 years$2,682$2,069$1,577$1,190$890$354
25 years$2,547$1,942$1,461$1,087$801$303
26 years$2,423$1,825$1,355$994$722$260
27 years$2,308$1,717$1,258$910$651$224
28 years$2,202$1,618$1,170$833$587$192
29 years$2,103$1,527$1,088$764$530$165
30 years$2,011$1,442$1,014$701$479$142
31 years$1,925$1,363$945$644$433$122
32 years$1,845$1,290$882$592$392$105
33 years$1,769$1,221$823$544$354$90
34 years$1,699$1,158$769$501$321$78
35 years$1,632$1,098$719$461$291$67
36 years$1,569$1,042$673$425$263$58
37 years$1,510$990$630$391$239$50
38 years$1,454$941$590$361$216$43
39 years$1,401$894$553$333$196$37
40 years$1,351$851$518$307$178$32
41 years$1,303$810$486$283$161$27
42 years$1,258$771$456$261$147$23
43 years$1,215$735$427$241$133$20
44 years$1,174$701$401$223$121$17
45 years$1,135$668$377$206$110$15
46 years$1,098$637$354$190$100$13
47 years$1,062$608$332$175$90$11
48 years$1,028$581$312$162$82$10
49 years$996$554$294$150$75$8
50 years$965$530$276$138$68$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $988,000, adding $5,826 every year, while hoping to spend $45,063 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: 66/28/6 Blend
52$988,000$988,000$988,000$988,000
53$1,094,786$1,042,422$1,027,108$1,165,631
54$1,158,507$1,045,553$1,013,569$1,216,539
55$1,227,218$1,047,329$998,066$1,266,199
56$1,301,379$1,047,633$980,487$1,319,266
57$1,381,498$1,046,345$960,711$1,376,067
58$1,468,131$1,043,336$938,616$1,436,961
59$1,561,891$1,038,471$914,070$1,502,346
60$1,663,451$1,031,603$886,938$1,572,659
61$1,773,551$1,022,579$857,079$1,648,386
62$1,893,005$1,011,237$824,342$1,730,061
63$2,022,707$997,403$788,573$1,818,276
64$2,163,642$980,895$749,610$1,913,682
65$2,316,893$961,519$707,281$2,016,999
66$2,483,651$939,068$661,410$2,129,024
67$2,665,228$913,326$611,812$2,250,633
68$2,863,065$884,063$558,291$2,382,798
69$3,078,749$851,034$500,646$2,526,587
70$3,314,029$813,982$438,664$2,683,184
71$3,570,826$772,634$372,126$2,853,893
72$3,851,258$726,700$300,800$3,040,155
73$4,157,655$675,877$224,445$3,243,560
74$4,492,581$619,840$142,809$3,465,863
75$4,858,861$558,249$55,631$3,709,003
76$5,259,605$490,744$0$3,975,119
77$5,698,237$416,943$0$4,268,965
78$6,178,528$336,443$0$4,594,710
79$6,704,628$248,819$0$4,951,684
80$7,281,111$153,623$0$5,343,080
81$7,913,013$50,379$0$5,772,421
82$8,605,880$0$0$6,243,594
83$9,365,820$0$0$6,779,810
84$10,199,561$0$0$7,385,194
85$11,114,514$0$0$8,049,614
86$12,118,842$0$0$8,779,004
87$13,221,537$0$0$9,579,906
88$14,432,504$0$0$10,459,520
89$15,762,654$0$0$11,425,783
90$17,224,008$0$0$12,487,435
91$18,829,807$0$0$13,654,107
92$20,594,640$0$0$14,936,408
93$22,534,577$0$0$16,346,025
94$24,667,326$0$0$17,895,835
95$27,012,392$0$0$19,600,025
96$29,591,270$0$0$21,474,225
97$32,427,636$0$0$23,535,656
98$35,547,580$0$0$25,803,291
99$38,979,848$0$0$28,298,036
100$42,756,108$0$0$31,042,923