Can I retire at age 53 with 991,000?

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 $991,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$81,836$81,107$80,396$79,702$79,024$78,362
2 years$40,513$39,758$39,027$38,318$37,630$36,963
3 years$26,740$25,982$25,253$24,551$23,874$23,222
4 years$19,855$19,100$18,378$17,687$17,027$16,396
5 years$15,725$14,975$14,262$13,586$12,944$12,335
6 years$12,973$12,228$11,526$10,865$10,242$9,656
7 years$11,008$10,269$9,578$8,932$8,330$7,767
8 years$9,535$8,802$8,123$7,493$6,910$6,371
9 years$8,389$7,664$6,996$6,382$5,819$5,303
10 years$7,474$6,755$6,099$5,502$4,958$4,465
11 years$6,725$6,014$5,370$4,788$4,264$3,794
12 years$6,102$5,398$4,766$4,200$3,695$3,247
13 years$5,575$4,878$4,258$3,708$3,222$2,796
14 years$5,123$4,434$3,826$3,291$2,825$2,419
15 years$4,732$4,051$3,454$2,935$2,487$2,102
16 years$4,391$3,716$3,132$2,628$2,198$1,833
17 years$4,089$3,423$2,850$2,362$1,949$1,603
18 years$3,822$3,163$2,601$2,128$1,733$1,406
19 years$3,583$2,931$2,381$1,923$1,545$1,235
20 years$3,368$2,724$2,186$1,742$1,380$1,088
21 years$3,174$2,537$2,010$1,581$1,235$959
22 years$2,998$2,368$1,853$1,437$1,107$847
23 years$2,837$2,215$1,711$1,309$993$749
24 years$2,690$2,075$1,582$1,194$893$663
25 years$2,555$1,948$1,465$1,090$804$588
26 years$2,430$1,830$1,359$997$724$521
27 years$2,315$1,723$1,262$912$653$463
28 years$2,209$1,623$1,173$836$589$411
29 years$2,110$1,531$1,092$767$532$365
30 years$2,017$1,446$1,017$704$480$325
31 years$1,931$1,367$948$646$434$289
32 years$1,850$1,294$885$594$393$257
33 years$1,775$1,225$826$546$356$229
34 years$1,704$1,161$772$502$322$204
35 years$1,637$1,101$721$463$292$182
36 years$1,574$1,045$675$426$264$162
37 years$1,515$993$632$392$239$144
38 years$1,458$943$592$362$217$128
39 years$1,405$897$554$334$197$115
40 years$1,355$854$519$308$179$102
41 years$1,307$812$487$284$162$91
42 years$1,262$774$457$262$147$81
43 years$1,219$737$429$242$133$72
44 years$1,177$703$402$223$121$65
45 years$1,138$670$378$206$110$58
46 years$1,101$639$355$190$100$51
47 years$1,065$610$333$176$91$46
48 years$1,031$582$313$163$82$41
49 years$999$556$295$150$75$37
50 years$968$531$277$139$68$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $991,000, adding $3,038 every year, while hoping to spend $20,612 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: 25/49/26 Blend
52$991,000$991,000$991,000$991,000
53$1,095,216$1,042,693$1,027,332$1,113,558
54$1,184,997$1,071,854$1,039,817$1,158,096
55$1,283,245$1,101,753$1,052,029$1,203,853
56$1,390,801$1,132,404$1,063,937$1,252,482
57$1,508,593$1,163,822$1,075,510$1,304,235
58$1,637,642$1,196,022$1,086,712$1,359,394
59$1,779,072$1,229,017$1,097,507$1,418,264
60$1,934,121$1,262,823$1,107,857$1,481,184
61$2,104,153$1,297,453$1,117,722$1,548,527
62$2,290,669$1,332,921$1,127,058$1,620,702
63$2,495,325$1,369,242$1,135,823$1,698,161
64$2,719,943$1,406,429$1,143,967$1,781,400
65$2,966,530$1,444,497$1,151,443$1,870,965
66$3,237,297$1,483,458$1,158,197$1,967,459
67$3,534,679$1,523,326$1,164,175$2,071,545
68$3,861,361$1,564,113$1,169,319$2,183,954
69$4,220,298$1,605,833$1,173,570$2,305,489
70$4,614,747$1,648,497$1,176,862$2,437,039
71$5,048,294$1,692,117$1,179,131$2,579,578
72$5,524,893$1,736,704$1,180,305$2,734,182
73$6,048,898$1,782,268$1,180,310$2,902,038
74$6,625,106$1,828,819$1,179,071$3,084,451
75$7,258,803$1,876,367$1,176,506$3,282,860
76$7,955,812$1,924,920$1,172,530$3,498,851
77$8,722,548$1,974,485$1,167,053$3,734,172
78$9,566,083$2,025,069$1,159,984$3,990,749
79$10,494,203$2,076,677$1,151,223$4,270,704
80$11,515,492$2,129,315$1,140,669$4,576,376
81$12,639,404$2,182,984$1,128,214$4,910,344
82$13,876,360$2,237,687$1,113,746$5,275,448
83$15,237,840$2,293,424$1,097,147$5,674,820
84$16,736,491$2,350,194$1,078,294$6,111,912
85$18,386,254$2,407,994$1,057,057$6,590,527
86$20,202,486$2,466,819$1,033,302$7,114,858
87$22,202,109$2,526,663$1,006,888$7,689,525
88$24,403,772$2,587,517$977,666$8,319,623
89$26,828,021$2,649,370$945,483$9,010,764
90$29,497,499$2,712,208$910,176$9,769,136
91$32,437,153$2,776,016$871,576$10,601,559
92$35,674,475$2,840,773$829,506$11,515,550
93$39,239,759$2,906,459$783,783$12,519,393
94$43,166,387$2,973,048$734,212$13,622,221
95$47,491,142$3,040,511$680,592$14,834,098
96$52,254,559$3,108,816$622,711$16,166,120
97$57,501,302$3,177,927$560,351$17,630,512
98$63,280,592$3,247,802$493,279$19,240,753
99$69,646,666$3,318,397$421,257$21,011,697
100$76,659,289$3,389,663$344,033$22,959,717