Can I retire at age 53 with 997,000?

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 $997,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13%
1 years$82,331$81,598$80,882$80,184$79,502$78,509
2 years$40,758$39,999$39,263$38,550$37,858$36,859
3 years$26,902$26,140$25,406$24,699$24,019$23,044
4 years$19,976$19,216$18,489$17,795$17,130$16,188
5 years$15,821$15,065$14,348$13,668$13,022$12,115
6 years$13,052$12,302$11,596$10,930$10,304$9,433
7 years$11,075$10,331$9,636$8,986$8,380$7,546
8 years$9,592$8,856$8,172$7,538$6,952$6,154
9 years$8,440$7,710$7,039$6,421$5,855$5,093
10 years$7,519$6,796$6,136$5,535$4,988$4,262
11 years$6,766$6,050$5,402$4,817$4,290$3,599
12 years$6,139$5,431$4,794$4,225$3,718$3,061
13 years$5,608$4,908$4,284$3,730$3,242$2,618
14 years$5,154$4,461$3,849$3,311$2,842$2,251
15 years$4,761$4,075$3,475$2,953$2,502$1,942
16 years$4,417$3,739$3,151$2,644$2,211$1,682
17 years$4,114$3,443$2,867$2,376$1,961$1,461
18 years$3,845$3,182$2,617$2,141$1,744$1,272
19 years$3,605$2,949$2,396$1,935$1,554$1,110
20 years$3,388$2,740$2,199$1,752$1,388$970
21 years$3,193$2,552$2,022$1,590$1,242$849
22 years$3,016$2,383$1,864$1,446$1,113$744
23 years$2,854$2,228$1,721$1,317$999$653
24 years$2,706$2,088$1,592$1,201$898$574
25 years$2,570$1,959$1,474$1,097$808$504
26 years$2,445$1,841$1,367$1,003$728$444
27 years$2,329$1,733$1,270$918$657$391
28 years$2,222$1,633$1,180$841$592$344
29 years$2,122$1,541$1,098$771$535$304
30 years$2,029$1,455$1,023$708$483$268
31 years$1,943$1,375$954$650$437$236
32 years$1,862$1,301$890$597$395$209
33 years$1,785$1,232$831$549$358$184
34 years$1,714$1,168$776$505$324$163
35 years$1,647$1,108$726$465$293$144
36 years$1,583$1,052$679$429$266$127
37 years$1,524$999$636$395$241$112
38 years$1,467$949$595$364$218$99
39 years$1,414$903$558$336$198$88
40 years$1,363$859$523$310$180$77
41 years$1,315$817$490$286$163$68
42 years$1,269$778$460$264$148$61
43 years$1,226$742$431$243$134$54
44 years$1,185$707$405$225$122$47
45 years$1,145$674$380$207$111$42
46 years$1,108$643$357$192$100$37
47 years$1,072$614$335$177$91$33
48 years$1,038$586$315$164$83$29
49 years$1,005$560$296$151$75$26
50 years$973$534$279$140$68$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $997,000, adding $3,868 every year, while hoping to spend $55,412 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: 38/46/16 Blend
52$997,000$997,000$997,000$997,000
53$1,102,684$1,049,843$1,034,389$1,139,132
54$1,156,200$1,042,327$1,010,083$1,158,092
55$1,213,317$1,032,586$983,106$1,172,973
56$1,274,344$1,020,452$953,309$1,187,874
57$1,339,621$1,005,747$920,538$1,202,827
58$1,409,517$988,284$884,631$1,217,868
59$1,484,440$967,862$845,419$1,233,044
60$1,564,837$944,271$802,724$1,248,412
61$1,651,197$917,287$756,362$1,264,038
62$1,744,058$886,674$706,140$1,280,002
63$1,844,011$852,180$651,855$1,296,395
64$1,951,705$813,541$593,296$1,313,328
65$2,067,850$770,476$530,243$1,330,927
66$2,193,230$722,688$462,465$1,349,338
67$2,328,704$669,865$389,722$1,368,731
68$2,475,217$611,673$311,763$1,389,299
69$2,633,808$547,764$228,326$1,411,265
70$2,805,617$477,765$139,136$1,434,884
71$2,991,901$401,286$43,907$1,460,444
72$3,194,038$317,913$0$1,488,276
73$3,413,549$227,210$0$1,528,605
74$3,652,102$128,713$0$1,580,643
75$3,911,533$21,938$0$1,637,418
76$4,193,865$0$0$1,699,529
77$4,501,320$0$0$1,815,038
78$4,836,345$0$0$1,953,131
79$5,201,634$0$0$2,103,827
80$5,600,149$0$0$2,268,365
81$6,035,154$0$0$2,448,110
82$6,510,238$0$0$2,644,562
83$7,029,355$0$0$2,859,375
84$7,596,857$0$0$3,094,369
85$8,217,535$0$0$3,351,547
86$8,896,665$0$0$3,633,116
87$9,640,055$0$0$3,941,506
88$10,454,103$0$0$4,279,393
89$11,345,854$0$0$4,649,724
90$12,323,064$0$0$5,055,744
91$13,394,277$0$0$5,501,028
92$14,568,903$0$0$5,989,514
93$15,857,306$0$0$6,525,538
94$17,270,901$0$0$7,113,876
95$18,822,261$0$0$7,759,792
96$20,525,236$0$0$8,469,080
97$22,395,083$0$0$9,248,125
98$24,448,606$0$0$10,103,963
99$26,704,320$0$0$11,044,340
100$29,182,618$0$0$12,077,794