Can I retire at age 53 with 996,000?

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 $996,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$82,249$81,516$80,801$80,104$79,422$77,565
2 years$40,717$39,959$39,224$38,511$37,820$35,960
3 years$26,875$26,114$25,380$24,675$23,995$22,189
4 years$19,956$19,196$18,470$17,777$17,113$15,376
5 years$15,805$15,050$14,334$13,654$13,009$11,346
6 years$13,039$12,290$11,584$10,919$10,294$8,706
7 years$11,063$10,321$9,626$8,977$8,372$6,859
8 years$9,583$8,847$8,164$7,531$6,945$5,507
9 years$8,432$7,703$7,032$6,415$5,849$4,485
10 years$7,511$6,790$6,130$5,530$4,983$3,692
11 years$6,759$6,044$5,397$4,812$4,286$3,065
12 years$6,132$5,425$4,790$4,221$3,714$2,561
13 years$5,603$4,903$4,279$3,727$3,239$2,152
14 years$5,149$4,456$3,845$3,308$2,839$1,817
15 years$4,756$4,071$3,471$2,950$2,500$1,539
16 years$4,413$3,735$3,147$2,642$2,209$1,308
17 years$4,110$3,440$2,864$2,373$1,959$1,114
18 years$3,841$3,179$2,614$2,139$1,742$951
19 years$3,601$2,946$2,393$1,933$1,552$813
20 years$3,385$2,737$2,197$1,750$1,387$697
21 years$3,190$2,550$2,020$1,589$1,241$598
22 years$3,013$2,380$1,862$1,444$1,112$513
23 years$2,851$2,226$1,719$1,315$998$441
24 years$2,704$2,086$1,590$1,200$897$379
25 years$2,568$1,957$1,473$1,096$808$326
26 years$2,443$1,840$1,366$1,002$727$281
27 years$2,327$1,731$1,268$917$656$242
28 years$2,220$1,631$1,179$840$592$209
29 years$2,120$1,539$1,097$770$534$180
30 years$2,027$1,453$1,022$707$483$155
31 years$1,941$1,374$953$649$437$134
32 years$1,860$1,300$889$597$395$116
33 years$1,784$1,231$830$549$357$100
34 years$1,712$1,167$776$505$324$86
35 years$1,645$1,107$725$465$293$74
36 years$1,582$1,050$678$428$266$64
37 years$1,522$998$635$394$241$55
38 years$1,466$948$595$364$218$48
39 years$1,412$902$557$335$198$41
40 years$1,362$858$522$309$179$36
41 years$1,314$817$490$285$163$31
42 years$1,268$778$459$263$148$27
43 years$1,225$741$431$243$134$23
44 years$1,183$706$404$224$122$20
45 years$1,144$674$380$207$110$17
46 years$1,107$643$357$191$100$15
47 years$1,071$613$335$177$91$13
48 years$1,036$585$315$163$83$11
49 years$1,004$559$296$151$75$10
50 years$972$534$278$140$68$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $996,000, adding $5,677 every year, while hoping to spend $45,069 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: 66/9/25 Blend
52$996,000$996,000$996,000$996,000
53$1,103,448$1,050,660$1,035,222$1,168,759
54$1,168,046$1,054,189$1,021,949$1,216,957
55$1,237,724$1,056,381$1,006,720$1,264,028
56$1,312,950$1,057,122$989,424$1,314,467
57$1,394,242$1,056,292$969,941$1,368,609
58$1,482,168$1,053,763$948,147$1,426,822
59$1,577,352$1,049,401$923,913$1,489,515
60$1,680,481$1,043,061$897,104$1,557,139
61$1,792,310$1,034,591$867,577$1,630,192
62$1,913,669$1,023,829$835,184$1,709,223
63$2,045,471$1,010,604$799,769$1,794,841
64$2,188,719$994,734$761,172$1,887,718
65$2,344,519$976,027$719,222$1,988,594
66$2,514,086$954,278$673,742$2,098,290
67$2,698,757$929,272$624,547$2,217,709
68$2,900,004$900,780$571,443$2,347,850
69$3,119,447$868,560$514,228$2,489,817
70$3,358,867$832,356$452,691$2,644,827
71$3,620,227$791,897$386,612$2,814,225
72$3,905,686$746,897$315,760$2,999,496
73$4,217,623$697,051$239,895$3,202,277
74$4,558,654$642,041$158,765$3,424,379
75$4,931,662$581,525$72,108$3,667,797
76$5,339,819$515,148$0$3,934,734
77$5,786,620$442,529$0$4,233,058
78$6,275,911$363,270$0$4,580,897
79$6,811,931$276,947$0$4,962,038
80$7,399,345$183,114$0$5,379,833
81$8,043,292$81,301$0$5,837,973
82$8,749,432$0$0$6,340,528
83$9,523,999$0$0$6,894,852
84$10,373,858$0$0$7,511,959
85$11,306,572$0$0$8,189,297
86$12,330,473$0$0$8,932,923
87$13,454,737$0$0$9,749,512
88$14,689,472$0$0$10,646,413
89$16,045,814$0$0$11,631,725
90$17,536,031$0$0$12,714,370
91$19,173,636$0$0$13,904,175
92$20,973,518$0$0$15,211,968
93$22,952,080$0$0$16,649,677
94$25,127,391$0$0$18,230,444
95$27,519,362$0$0$19,968,748
96$30,149,927$0$0$21,880,541
97$33,043,252$0$0$23,983,399
98$36,225,964$0$0$26,296,687
99$39,727,401$0$0$28,841,739
100$43,579,885$0$0$31,642,065