Can I retire at age 53 with 994,000?

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 $994,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.4%
1 years$82,084$81,352$80,639$79,943$79,263$76,269
2 years$40,635$39,879$39,145$38,434$37,744$34,762
3 years$26,821$26,061$25,330$24,625$23,947$21,071
4 years$19,915$19,158$18,433$17,741$17,079$14,331
5 years$15,773$15,020$14,305$13,627$12,983$10,371
6 years$13,012$12,265$11,561$10,897$10,273$7,798
7 years$11,041$10,300$9,607$8,959$8,355$6,016
8 years$9,564$8,829$8,147$7,516$6,931$4,726
9 years$8,415$7,687$7,017$6,402$5,837$3,763
10 years$7,496$6,776$6,118$5,518$4,973$3,026
11 years$6,745$6,032$5,386$4,803$4,277$2,453
12 years$6,120$5,414$4,780$4,213$3,707$2,001
13 years$5,591$4,893$4,271$3,719$3,232$1,640
14 years$5,139$4,447$3,837$3,301$2,833$1,349
15 years$4,747$4,063$3,464$2,944$2,495$1,113
16 years$4,404$3,728$3,141$2,636$2,205$921
17 years$4,102$3,433$2,858$2,369$1,955$764
18 years$3,833$3,172$2,609$2,135$1,738$634
19 years$3,594$2,940$2,389$1,929$1,549$528
20 years$3,378$2,732$2,192$1,747$1,384$439
21 years$3,184$2,545$2,016$1,585$1,238$366
22 years$3,007$2,375$1,858$1,442$1,110$305
23 years$2,846$2,222$1,716$1,313$996$255
24 years$2,698$2,082$1,587$1,197$896$213
25 years$2,563$1,953$1,470$1,094$806$178
26 years$2,438$1,836$1,363$1,000$726$149
27 years$2,322$1,728$1,266$915$655$124
28 years$2,215$1,628$1,177$839$591$104
29 years$2,116$1,536$1,095$769$533$87
30 years$2,023$1,451$1,020$706$482$73
31 years$1,937$1,371$951$648$436$61
32 years$1,856$1,297$887$596$394$51
33 years$1,780$1,229$828$548$357$43
34 years$1,709$1,165$774$504$323$36
35 years$1,642$1,105$724$464$292$30
36 years$1,579$1,048$677$427$265$25
37 years$1,519$996$634$394$240$21
38 years$1,463$946$593$363$218$18
39 years$1,409$900$556$335$197$15
40 years$1,359$856$521$309$179$12
41 years$1,311$815$489$285$162$10
42 years$1,266$776$458$263$147$9
43 years$1,222$739$430$243$134$7
44 years$1,181$705$404$224$121$6
45 years$1,142$672$379$207$110$5
46 years$1,104$641$356$191$100$4
47 years$1,069$612$334$177$91$4
48 years$1,034$584$314$163$83$3
49 years$1,002$558$295$151$75$2
50 years$970$533$278$139$68$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $994,000, adding $6,180 every year, while hoping to spend $24,342 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: 39/40/21 Blend
52$994,000$994,000$994,000$994,000
53$1,101,763$1,049,081$1,033,674$1,137,630
54$1,188,243$1,074,586$1,042,402$1,189,537
55$1,282,728$1,100,525$1,050,607$1,242,864
56$1,386,009$1,126,894$1,058,245$1,300,030
57$1,498,957$1,153,686$1,065,271$1,361,398
58$1,622,530$1,180,897$1,071,637$1,427,365
59$1,757,784$1,208,516$1,077,293$1,498,373
60$1,905,881$1,236,537$1,082,186$1,574,905
61$2,068,102$1,264,948$1,086,259$1,657,494
62$2,245,855$1,293,737$1,089,456$1,746,730
63$2,440,693$1,322,891$1,091,714$1,843,260
64$2,654,327$1,352,396$1,092,969$1,947,800
65$2,888,638$1,382,233$1,093,154$2,061,136
66$3,145,702$1,412,385$1,092,197$2,184,137
67$3,427,803$1,442,831$1,090,025$2,317,761
68$3,737,457$1,473,548$1,086,559$2,463,062
69$4,077,436$1,504,511$1,081,717$2,621,202
70$4,450,794$1,535,691$1,075,414$2,793,466
71$4,860,894$1,567,060$1,067,560$2,981,265
72$5,311,443$1,598,583$1,058,060$3,186,159
73$5,806,521$1,630,225$1,046,817$3,409,866
74$6,350,627$1,661,947$1,033,726$3,654,279
75$6,948,715$1,693,706$1,018,680$3,921,486
76$7,606,243$1,725,456$1,001,564$4,213,790
77$8,329,224$1,757,148$982,262$4,533,729
78$9,124,285$1,788,729$960,647$4,884,101
79$9,998,725$1,820,139$936,592$5,267,990
80$10,960,586$1,851,317$909,958$5,688,799
81$12,018,729$1,882,195$880,606$6,150,275
82$13,182,919$1,912,702$848,385$6,656,553
83$14,463,911$1,942,759$813,141$7,212,190
84$15,873,560$1,972,283$774,710$7,822,209
85$17,424,923$2,001,186$732,924$8,492,150
86$19,132,392$2,029,371$687,604$9,228,118
87$21,011,822$2,056,736$638,564$10,036,845
88$23,080,684$2,083,171$585,612$10,925,751
89$25,358,227$2,108,561$528,543$11,903,016
90$27,865,664$2,132,778$467,148$12,977,660
91$30,626,368$2,155,691$401,203$14,159,623
92$33,666,094$2,177,156$330,480$15,459,864
93$37,013,221$2,197,021$254,736$16,890,465
94$40,699,020$2,215,126$173,720$18,464,742
95$44,757,949$2,231,296$87,169$20,197,377
96$49,227,980$2,245,350$0$22,104,551
97$54,150,952$2,257,090$0$24,205,268
98$59,572,972$2,266,310$0$26,538,946
99$65,544,844$2,272,789$0$29,107,775
100$72,122,554$2,276,291$0$31,935,716