Can I retire at age 53 with 993,000?

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 $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%12.6%
1 years$82,001$81,271$80,558$79,862$79,183$78,324
2 years$40,595$39,839$39,106$38,395$37,706$36,841
3 years$26,794$26,035$25,304$24,600$23,922$23,078
4 years$19,895$19,138$18,415$17,723$17,062$16,245
5 years$15,757$15,005$14,291$13,613$12,970$12,183
6 years$12,999$12,253$11,549$10,886$10,263$9,506
7 years$11,030$10,290$9,597$8,950$8,346$7,621
8 years$9,554$8,820$8,139$7,508$6,924$6,230
9 years$8,406$7,680$7,010$6,395$5,831$5,168
10 years$7,489$6,769$6,112$5,513$4,968$4,335
11 years$6,739$6,026$5,381$4,798$4,273$3,670
12 years$6,114$5,409$4,775$4,208$3,703$3,129
13 years$5,586$4,888$4,266$3,715$3,229$2,684
14 years$5,133$4,443$3,833$3,298$2,831$2,313
15 years$4,742$4,059$3,461$2,941$2,492$2,002
16 years$4,399$3,724$3,138$2,634$2,203$1,738
17 years$4,098$3,429$2,855$2,366$1,953$1,514
18 years$3,830$3,169$2,607$2,132$1,737$1,322
19 years$3,590$2,937$2,386$1,927$1,548$1,157
20 years$3,375$2,729$2,190$1,745$1,383$1,014
21 years$3,180$2,542$2,014$1,584$1,237$890
22 years$3,004$2,373$1,857$1,440$1,109$783
23 years$2,843$2,219$1,714$1,312$995$689
24 years$2,695$2,079$1,585$1,196$895$607
25 years$2,560$1,951$1,468$1,092$805$535
26 years$2,435$1,834$1,362$999$725$473
27 years$2,320$1,726$1,265$914$654$418
28 years$2,213$1,626$1,176$838$590$369
29 years$2,114$1,534$1,094$768$533$326
30 years$2,021$1,449$1,019$705$481$289
31 years$1,935$1,370$950$647$435$256
32 years$1,854$1,296$886$595$394$226
33 years$1,778$1,227$828$547$356$201
34 years$1,707$1,163$773$503$323$178
35 years$1,640$1,103$723$463$292$158
36 years$1,577$1,047$676$427$265$140
37 years$1,518$995$633$393$240$124
38 years$1,461$945$593$362$218$110
39 years$1,408$899$555$334$197$97
40 years$1,358$855$521$308$179$86
41 years$1,310$814$488$284$162$77
42 years$1,264$775$458$262$147$68
43 years$1,221$739$430$242$134$60
44 years$1,180$704$403$224$121$54
45 years$1,141$671$379$207$110$48
46 years$1,103$641$356$191$100$42
47 years$1,067$611$334$176$91$37
48 years$1,033$584$314$163$82$33
49 years$1,001$557$295$151$75$30
50 years$970$532$277$139$68$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $993,000, adding $3,369 every year, while hoping to spend $52,532 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: 59/24/17 Blend
52$993,000$993,000$993,000$993,000
53$1,097,761$1,045,132$1,029,741$1,157,515
54$1,153,839$1,040,450$1,008,343$1,193,647
55$1,213,876$1,033,778$984,469$1,226,944
56$1,278,221$1,024,962$957,978$1,262,047
57$1,347,256$1,013,842$928,726$1,299,139
58$1,421,400$1,000,244$896,563$1,338,422
59$1,501,114$983,987$861,328$1,380,121
60$1,586,902$964,877$822,858$1,424,488
61$1,679,320$942,710$780,977$1,471,802
62$1,778,978$917,269$735,506$1,522,373
63$1,886,543$888,325$686,256$1,576,546
64$2,002,753$855,636$633,028$1,634,702
65$2,128,416$818,944$575,616$1,697,267
66$2,264,419$777,977$513,804$1,764,712
67$2,411,741$732,449$447,368$1,837,561
68$2,571,454$682,054$376,070$1,916,394
69$2,744,740$626,473$299,666$2,001,855
70$2,932,898$565,364$217,899$2,094,659
71$3,137,356$498,369$130,501$2,195,596
72$3,359,685$425,109$37,192$2,305,544
73$3,601,616$345,181$0$2,425,474
74$3,865,049$258,164$0$2,567,781
75$4,152,079$163,609$0$2,730,276
76$4,465,008$61,043$0$2,907,584
77$4,806,374$0$0$3,101,227
78$5,178,965$0$0$3,326,100
79$5,585,855$0$0$3,589,355
80$6,030,424$0$0$3,877,068
81$6,516,396$0$0$4,191,658
82$7,047,869$0$0$4,535,788
83$7,629,357$0$0$4,912,392
84$8,265,829$0$0$5,324,699
85$8,962,756$0$0$5,776,266
86$9,726,166$0$0$6,271,008
87$10,562,693$0$0$6,813,240
88$11,479,646$0$0$7,407,711
89$12,485,075$0$0$8,059,652
90$13,587,844$0$0$8,774,827
91$14,797,719$0$0$9,559,582
92$16,125,454$0$0$10,420,909
93$17,582,896$0$0$11,366,507
94$19,183,096$0$0$12,404,861
95$20,940,429$0$0$13,545,314
96$22,870,730$0$0$14,798,161
97$24,991,446$0$0$16,174,741
98$27,321,792$0$0$17,687,549
99$29,882,943$0$0$19,350,347
100$32,698,223$0$0$21,178,299