Can I retire at age 53 with 992,000?

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 $992,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.7%
1 years$81,918$81,189$80,477$79,782$79,103$78,212
2 years$40,554$39,798$39,066$38,357$37,668$36,771
3 years$26,767$26,009$25,279$24,576$23,898$23,023
4 years$19,875$19,119$18,396$17,705$17,044$16,198
5 years$15,741$14,990$14,276$13,599$12,957$12,141
6 years$12,986$12,240$11,537$10,876$10,252$9,469
7 years$11,019$10,279$9,588$8,941$8,338$7,587
8 years$9,544$8,811$8,131$7,501$6,917$6,198
9 years$8,398$7,672$7,003$6,389$5,825$5,139
10 years$7,481$6,762$6,106$5,507$4,963$4,308
11 years$6,732$6,020$5,375$4,793$4,269$3,645
12 years$6,108$5,403$4,770$4,204$3,699$3,106
13 years$5,580$4,883$4,262$3,712$3,226$2,662
14 years$5,128$4,439$3,829$3,295$2,828$2,293
15 years$4,737$4,055$3,458$2,938$2,490$1,983
16 years$4,395$3,720$3,135$2,631$2,200$1,721
17 years$4,093$3,426$2,852$2,364$1,951$1,497
18 years$3,826$3,166$2,604$2,130$1,735$1,307
19 years$3,587$2,934$2,384$1,925$1,546$1,142
20 years$3,371$2,726$2,188$1,743$1,381$1,001
21 years$3,177$2,540$2,012$1,582$1,236$878
22 years$3,001$2,371$1,855$1,439$1,108$771
23 years$2,840$2,217$1,712$1,310$994$678
24 years$2,693$2,077$1,584$1,195$894$597
25 years$2,558$1,950$1,467$1,091$804$527
26 years$2,433$1,832$1,360$998$725$464
27 years$2,318$1,724$1,263$913$653$410
28 years$2,211$1,625$1,174$837$589$362
29 years$2,112$1,533$1,093$767$532$320
30 years$2,019$1,448$1,018$704$481$283
31 years$1,933$1,368$949$647$435$250
32 years$1,852$1,295$885$594$393$221
33 years$1,777$1,226$827$547$356$196
34 years$1,705$1,162$772$503$322$173
35 years$1,639$1,102$722$463$292$154
36 years$1,576$1,046$676$426$264$136
37 years$1,516$994$632$393$240$121
38 years$1,460$944$592$362$217$107
39 years$1,407$898$555$334$197$95
40 years$1,356$854$520$308$179$84
41 years$1,308$813$488$284$162$74
42 years$1,263$775$457$262$147$66
43 years$1,220$738$429$242$134$58
44 years$1,179$703$403$224$121$52
45 years$1,139$671$378$206$110$46
46 years$1,102$640$355$191$100$41
47 years$1,066$611$334$176$91$36
48 years$1,032$583$314$163$82$32
49 years$1,000$557$295$150$75$28
50 years$969$532$277$139$68$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $992,000, adding $4,864 every year, while hoping to spend $26,890 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: 65/23/12 Blend
52$992,000$992,000$992,000$992,000
53$1,098,201$1,045,625$1,030,249$1,166,282
54$1,181,607$1,068,250$1,036,152$1,234,960
55$1,272,619$1,091,082$1,041,351$1,306,379
56$1,371,984$1,114,104$1,045,795$1,383,735
57$1,480,526$1,137,294$1,049,428$1,467,608
58$1,599,150$1,160,632$1,052,194$1,558,633
59$1,728,854$1,184,093$1,054,033$1,657,511
60$1,870,735$1,207,651$1,054,881$1,765,015
61$2,026,002$1,231,278$1,054,671$1,881,996
62$2,195,986$1,254,943$1,053,335$2,009,391
63$2,382,154$1,278,613$1,050,799$2,148,234
64$2,586,120$1,302,251$1,046,987$2,299,662
65$2,809,661$1,325,818$1,041,818$2,464,930
66$3,054,735$1,349,273$1,035,208$2,645,419
67$3,323,500$1,372,569$1,027,069$2,842,653
68$3,618,330$1,395,657$1,017,309$3,058,310
69$3,941,841$1,418,486$1,005,831$3,294,239
70$4,296,916$1,440,999$992,532$3,552,479
71$4,686,727$1,463,134$977,309$3,835,274
72$5,114,773$1,484,827$960,048$4,145,101
73$5,584,904$1,506,008$940,634$4,484,687
74$6,101,364$1,526,602$918,945$4,857,039
75$6,668,827$1,546,529$894,853$5,265,469
76$7,292,443$1,565,704$868,226$5,713,630
77$7,977,884$1,584,036$838,924$6,205,546
78$8,731,402$1,601,427$806,801$6,745,653
79$9,559,881$1,617,773$771,705$7,338,838
80$10,470,907$1,632,963$733,476$7,990,490
81$11,472,840$1,646,878$691,948$8,706,546
82$12,574,888$1,659,394$646,946$9,493,552
83$13,787,198$1,670,375$598,290$10,358,719
84$15,120,947$1,679,678$545,787$11,309,998
85$16,588,454$1,687,153$489,241$12,356,150
86$18,203,289$1,692,636$428,444$13,506,831
87$19,980,406$1,695,957$363,178$14,772,686
88$21,936,281$1,696,932$293,218$16,165,442
89$24,089,068$1,695,368$218,328$17,698,030
90$26,458,771$1,691,059$138,260$19,384,696
91$29,067,431$1,683,787$52,757$21,241,145
92$31,939,335$1,673,319$0$23,284,685
93$35,101,245$1,659,409$0$25,539,318
94$38,582,649$1,641,797$0$28,028,670
95$42,416,040$1,620,205$0$30,769,187
96$46,637,222$1,594,342$0$33,786,443
97$51,285,650$1,563,895$0$37,108,625
98$56,404,797$1,528,537$0$40,766,794
99$62,042,569$1,487,919$0$44,795,181
100$68,251,756$1,441,671$0$49,231,509