Can I retire at age 53 with 993,000?

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 $993,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.8%
1 years$82,001$81,271$80,558$79,862$79,183$77,300
2 years$40,595$39,839$39,106$38,395$37,706$35,820
3 years$26,794$26,035$25,304$24,600$23,922$22,092
4 years$19,895$19,138$18,415$17,723$17,062$15,302
5 years$15,757$15,005$14,291$13,613$12,970$11,285
6 years$12,999$12,253$11,549$10,886$10,263$8,654
7 years$11,030$10,290$9,597$8,950$8,346$6,814
8 years$9,554$8,820$8,139$7,508$6,924$5,468
9 years$8,406$7,680$7,010$6,395$5,831$4,450
10 years$7,489$6,769$6,112$5,513$4,968$3,661
11 years$6,739$6,026$5,381$4,798$4,273$3,037
12 years$6,114$5,409$4,775$4,208$3,703$2,537
13 years$5,586$4,888$4,266$3,715$3,229$2,130
14 years$5,133$4,443$3,833$3,298$2,831$1,797
15 years$4,742$4,059$3,461$2,941$2,492$1,521
16 years$4,399$3,724$3,138$2,634$2,203$1,292
17 years$4,098$3,429$2,855$2,366$1,953$1,100
18 years$3,830$3,169$2,607$2,132$1,737$938
19 years$3,590$2,937$2,386$1,927$1,548$802
20 years$3,375$2,729$2,190$1,745$1,383$686
21 years$3,180$2,542$2,014$1,584$1,237$588
22 years$3,004$2,373$1,857$1,440$1,109$504
23 years$2,843$2,219$1,714$1,312$995$433
24 years$2,695$2,079$1,585$1,196$895$372
25 years$2,560$1,951$1,468$1,092$805$320
26 years$2,435$1,834$1,362$999$725$275
27 years$2,320$1,726$1,265$914$654$237
28 years$2,213$1,626$1,176$838$590$204
29 years$2,114$1,534$1,094$768$533$176
30 years$2,021$1,449$1,019$705$481$152
31 years$1,935$1,370$950$647$435$131
32 years$1,854$1,296$886$595$394$113
33 years$1,778$1,227$828$547$356$97
34 years$1,707$1,163$773$503$323$84
35 years$1,640$1,103$723$463$292$72
36 years$1,577$1,047$676$427$265$62
37 years$1,518$995$633$393$240$54
38 years$1,461$945$593$362$218$47
39 years$1,408$899$555$334$197$40
40 years$1,358$855$521$308$179$35
41 years$1,310$814$488$284$162$30
42 years$1,264$775$458$262$147$26
43 years$1,221$739$430$242$134$22
44 years$1,180$704$403$224$121$19
45 years$1,141$671$379$207$110$17
46 years$1,103$641$356$191$100$14
47 years$1,067$611$334$176$91$12
48 years$1,033$584$314$163$82$11
49 years$1,001$557$295$151$75$9
50 years$970$532$277$139$68$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $993,000, adding $4,970 every year, while hoping to spend $33,106 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: 34/47/19 Blend
52$993,000$993,000$993,000$993,000
53$1,099,413$1,046,784$1,031,392$1,130,224
54$1,176,328$1,062,851$1,030,719$1,169,418
55$1,259,979$1,078,597$1,028,914$1,208,241
56$1,351,019$1,093,970$1,025,904$1,249,413
57$1,450,163$1,108,915$1,021,613$1,293,162
58$1,558,203$1,123,375$1,015,960$1,339,739
59$1,676,007$1,137,287$1,008,861$1,389,424
60$1,804,531$1,150,585$1,000,229$1,442,523
61$1,944,828$1,163,199$989,972$1,499,380
62$2,098,056$1,175,052$977,992$1,560,371
63$2,265,492$1,186,063$964,189$1,625,916
64$2,448,539$1,196,148$948,456$1,696,477
65$2,648,745$1,205,213$930,684$1,772,566
66$2,867,810$1,213,162$910,755$1,854,751
67$3,107,610$1,219,891$888,549$1,943,660
68$3,370,210$1,225,288$863,939$2,039,986
69$3,657,881$1,229,238$836,791$2,144,496
70$3,973,129$1,231,614$806,967$2,258,042
71$4,318,709$1,232,284$774,321$2,381,560
72$4,697,658$1,231,107$738,702$2,516,091
73$5,113,321$1,227,933$699,950$2,662,781
74$5,569,381$1,222,603$657,900$2,822,901
75$6,069,897$1,214,949$612,379$2,997,854
76$6,619,337$1,204,792$563,204$3,189,191
77$7,222,624$1,191,942$510,186$3,398,625
78$7,885,182$1,176,198$453,128$3,628,051
79$8,612,986$1,157,347$391,823$3,879,561
80$9,412,616$1,135,163$326,055$4,155,469
81$10,291,324$1,109,406$255,598$4,458,329
82$11,257,096$1,079,824$180,218$4,790,962
83$12,318,733$1,046,149$99,668$5,156,485
84$13,485,929$1,008,095$13,693$5,558,341
85$14,769,366$965,364$0$6,000,331
86$16,180,811$917,637$0$6,502,477
87$17,733,231$864,578$0$7,057,582
88$19,440,909$805,831$0$7,668,043
89$21,319,585$741,020$0$8,339,570
90$23,386,602$669,749$0$9,078,466
91$25,661,065$591,596$0$9,891,682
92$28,164,028$506,119$0$10,786,887
93$30,918,687$412,847$0$11,772,540
94$33,950,602$311,286$0$12,857,973
95$37,287,936$200,912$0$14,053,480
96$40,961,721$81,172$0$15,370,415
97$45,006,151$0$0$16,821,301
98$49,458,901$0$0$18,445,044
99$54,361,489$0$0$20,279,230
100$59,759,661$0$0$22,299,015