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%15.9%
1 years$82,084$81,352$80,639$79,943$79,263$77,347
2 years$40,635$39,879$39,145$38,434$37,744$35,825
3 years$26,821$26,061$25,330$24,625$23,947$22,085
4 years$19,915$19,158$18,433$17,741$17,079$15,289
5 years$15,773$15,020$14,305$13,627$12,983$11,269
6 years$13,012$12,265$11,561$10,897$10,273$8,637
7 years$11,041$10,300$9,607$8,959$8,355$6,798
8 years$9,564$8,829$8,147$7,516$6,931$5,452
9 years$8,415$7,687$7,017$6,402$5,837$4,434
10 years$7,496$6,776$6,118$5,518$4,973$3,645
11 years$6,745$6,032$5,386$4,803$4,277$3,022
12 years$6,120$5,414$4,780$4,213$3,707$2,523
13 years$5,591$4,893$4,271$3,719$3,232$2,117
14 years$5,139$4,447$3,837$3,301$2,833$1,784
15 years$4,747$4,063$3,464$2,944$2,495$1,510
16 years$4,404$3,728$3,141$2,636$2,205$1,281
17 years$4,102$3,433$2,858$2,369$1,955$1,090
18 years$3,833$3,172$2,609$2,135$1,738$929
19 years$3,594$2,940$2,389$1,929$1,549$793
20 years$3,378$2,732$2,192$1,747$1,384$678
21 years$3,184$2,545$2,016$1,585$1,238$581
22 years$3,007$2,375$1,858$1,442$1,110$498
23 years$2,846$2,222$1,716$1,313$996$427
24 years$2,698$2,082$1,587$1,197$896$367
25 years$2,563$1,953$1,470$1,094$806$315
26 years$2,438$1,836$1,363$1,000$726$271
27 years$2,322$1,728$1,266$915$655$233
28 years$2,215$1,628$1,177$839$591$201
29 years$2,116$1,536$1,095$769$533$173
30 years$2,023$1,451$1,020$706$482$149
31 years$1,937$1,371$951$648$436$128
32 years$1,856$1,297$887$596$394$110
33 years$1,780$1,229$828$548$357$95
34 years$1,709$1,165$774$504$323$82
35 years$1,642$1,105$724$464$292$71
36 years$1,579$1,048$677$427$265$61
37 years$1,519$996$634$394$240$53
38 years$1,463$946$593$363$218$45
39 years$1,409$900$556$335$197$39
40 years$1,359$856$521$309$179$34
41 years$1,311$815$489$285$162$29
42 years$1,266$776$458$263$147$25
43 years$1,222$739$430$243$134$22
44 years$1,181$705$404$224$121$19
45 years$1,142$672$379$207$110$16
46 years$1,104$641$356$191$100$14
47 years$1,069$612$334$177$91$12
48 years$1,034$584$314$163$83$10
49 years$1,002$558$295$151$75$9
50 years$970$533$278$139$68$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $994,000, adding $3,503 every year, while hoping to spend $42,165 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: 32/40/28 Blend
52$994,000$994,000$994,000$994,000
53$1,099,001$1,046,319$1,030,912$1,124,690
54$1,166,236$1,052,726$1,020,585$1,151,087
55$1,238,916$1,058,033$1,008,498$1,175,533
56$1,317,551$1,062,142$994,548$1,201,040
57$1,402,704$1,064,950$978,628$1,227,732
58$1,494,991$1,066,343$960,623$1,255,746
59$1,595,091$1,066,206$940,416$1,285,238
60$1,703,752$1,064,411$917,881$1,316,384
61$1,821,793$1,060,826$892,889$1,349,379
62$1,950,119$1,055,309$865,303$1,384,442
63$2,089,723$1,047,712$834,983$1,421,822
64$2,241,699$1,037,873$801,779$1,461,793
65$2,407,249$1,025,626$765,535$1,504,664
66$2,587,697$1,010,790$726,089$1,550,780
67$2,784,501$993,178$683,272$1,600,526
68$2,999,264$972,587$636,905$1,654,333
69$3,233,751$948,806$586,804$1,712,680
70$3,489,905$921,609$532,773$1,776,102
71$3,769,866$890,758$474,612$1,845,194
72$4,075,988$856,002$412,107$1,920,622
73$4,410,866$817,072$345,040$2,003,122
74$4,777,353$773,688$273,177$2,093,518
75$5,178,594$725,550$196,280$2,192,722
76$5,618,051$672,343$114,096$2,301,751
77$6,099,538$613,732$26,363$2,421,734
78$6,627,251$549,366$0$2,553,923
79$7,205,817$478,871$0$2,719,806
80$7,840,328$401,853$0$2,910,545
81$8,536,393$317,896$0$3,120,056
82$9,300,193$226,560$0$3,350,334
83$10,138,532$127,381$0$3,603,584
84$11,058,908$19,869$0$3,882,242
85$12,069,579$0$0$4,189,002
86$13,179,643$0$0$4,569,317
87$14,399,120$0$0$4,996,885
88$15,739,051$0$0$5,466,853
89$17,211,599$0$0$5,983,506
90$18,830,163$0$0$6,551,568
91$20,609,504$0$0$7,176,240
92$22,565,885$0$0$7,863,257
93$24,717,225$0$0$8,618,932
94$27,083,265$0$0$9,450,226
95$29,685,755$0$0$10,364,805
96$32,548,658$0$0$11,371,116
97$35,698,379$0$0$12,478,468
98$39,164,009$0$0$13,697,116
99$42,977,601$0$0$15,038,361
100$47,174,474$0$0$16,514,652