Can I retire at age 53 with 998,000?

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 $998,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.3%
1 years$82,414$81,680$80,964$80,265$79,582$77,220
2 years$40,799$40,039$39,303$38,589$37,896$35,536
3 years$26,929$26,166$25,431$24,724$24,043$21,759
4 years$19,996$19,235$18,508$17,812$17,148$14,957
5 years$15,837$15,080$14,363$13,682$13,035$10,944
6 years$13,065$12,314$11,607$10,941$10,314$8,324
7 years$11,086$10,341$9,646$8,995$8,388$6,499
8 years$9,602$8,865$8,180$7,546$6,959$5,170
9 years$8,449$7,718$7,046$6,428$5,860$4,169
10 years$7,527$6,803$6,143$5,541$4,993$3,398
11 years$6,773$6,056$5,408$4,822$4,294$2,792
12 years$6,145$5,436$4,799$4,230$3,722$2,309
13 years$5,614$4,913$4,288$3,734$3,245$1,920
14 years$5,159$4,465$3,853$3,315$2,845$1,603
15 years$4,766$4,079$3,478$2,956$2,505$1,342
16 years$4,422$3,743$3,154$2,647$2,214$1,128
17 years$4,118$3,447$2,870$2,378$1,963$950
18 years$3,849$3,185$2,620$2,143$1,745$801
19 years$3,608$2,952$2,398$1,937$1,556$677
20 years$3,392$2,743$2,201$1,754$1,389$573
21 years$3,196$2,555$2,024$1,592$1,243$485
22 years$3,019$2,385$1,866$1,447$1,115$412
23 years$2,857$2,231$1,723$1,318$1,000$349
24 years$2,709$2,090$1,593$1,202$899$297
25 years$2,573$1,961$1,476$1,098$809$252
26 years$2,448$1,843$1,369$1,004$729$214
27 years$2,332$1,735$1,271$919$657$182
28 years$2,224$1,635$1,181$842$593$155
29 years$2,124$1,542$1,099$772$535$132
30 years$2,031$1,456$1,024$709$484$112
31 years$1,945$1,377$955$651$437$96
32 years$1,863$1,303$891$598$396$81
33 years$1,787$1,234$832$550$358$69
34 years$1,716$1,169$777$506$324$59
35 years$1,648$1,109$727$466$294$50
36 years$1,585$1,053$680$429$266$43
37 years$1,525$1,000$636$395$241$37
38 years$1,469$950$596$364$219$31
39 years$1,415$903$558$336$198$27
40 years$1,364$860$523$310$180$23
41 years$1,316$818$491$286$163$19
42 years$1,271$779$460$264$148$16
43 years$1,227$742$432$244$134$14
44 years$1,186$708$405$225$122$12
45 years$1,146$675$381$208$111$10
46 years$1,109$644$357$192$101$9
47 years$1,073$614$336$177$91$7
48 years$1,039$587$316$164$83$6
49 years$1,006$560$297$151$75$5
50 years$974$535$279$140$68$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $998,000, adding $6,318 every year, while hoping to spend $21,671 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: 65/25/10 Blend
52$998,000$998,000$998,000$998,000
53$1,106,313$1,053,419$1,037,950$1,175,450
54$1,196,099$1,081,979$1,049,664$1,250,886
55$1,294,317$1,111,212$1,061,043$1,330,141
56$1,401,804$1,141,128$1,072,055$1,416,179
57$1,519,482$1,171,737$1,082,663$1,509,659
58$1,648,366$1,203,049$1,092,829$1,611,306
59$1,789,574$1,235,073$1,102,513$1,721,920
60$1,944,337$1,267,818$1,111,673$1,842,380
61$2,114,011$1,301,292$1,120,266$1,973,656
62$2,300,089$1,335,504$1,128,244$2,116,814
63$2,504,216$1,370,462$1,135,558$2,273,030
64$2,728,204$1,406,173$1,142,157$2,443,599
65$2,974,049$1,442,643$1,147,987$2,629,945
66$3,243,948$1,479,879$1,152,991$2,833,639
67$3,540,323$1,517,885$1,157,108$3,056,412
68$3,865,841$1,556,667$1,160,277$3,300,167
69$4,223,440$1,596,227$1,162,430$3,567,005
70$4,616,359$1,636,570$1,163,499$3,859,237
71$5,048,162$1,677,696$1,163,410$4,179,412
72$5,522,778$1,719,607$1,162,088$4,530,335
73$6,044,536$1,762,302$1,159,453$4,915,098
74$6,618,204$1,805,780$1,155,420$5,337,109
75$7,249,035$1,850,038$1,149,901$5,800,121
76$7,942,818$1,895,071$1,142,804$6,308,268
77$8,705,930$1,940,875$1,134,033$6,866,108
78$9,545,397$1,987,440$1,123,485$7,478,662
79$10,468,961$2,034,758$1,111,055$8,151,460
80$11,485,152$2,082,817$1,096,632$8,890,599
81$12,603,367$2,131,605$1,080,099$9,702,796
82$13,833,962$2,181,105$1,061,333$10,595,450
83$15,188,346$2,231,299$1,040,209$11,576,718
84$16,679,093$2,282,168$1,016,591$12,655,586
85$18,320,054$2,333,688$990,340$13,841,955
86$20,126,493$2,385,833$961,310$15,146,738
87$22,115,230$2,438,573$929,349$16,581,958
88$24,304,797$2,491,876$894,295$18,160,866
89$26,715,614$2,545,707$855,982$19,898,063
90$29,370,185$2,600,024$814,236$21,809,638
91$32,293,303$2,654,785$768,872$23,913,322
92$35,512,291$2,709,940$719,700$26,228,654
93$39,057,256$2,765,438$666,521$28,777,164
94$42,961,372$2,821,221$609,126$31,582,579
95$47,261,197$2,877,226$547,297$34,671,047
96$51,997,014$2,933,385$480,806$38,071,380
97$57,213,213$2,989,624$409,416$41,815,332
98$62,958,707$3,045,862$332,878$45,937,894
99$69,287,399$3,102,013$250,933$50,477,625
100$76,258,684$3,157,983$163,311$55,477,019