Can I retire at age 53 with 998,000?

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 $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%15.2%
1 years$82,414$81,680$80,964$80,265$79,582$77,880
2 years$40,799$40,039$39,303$38,589$37,896$36,189
3 years$26,929$26,166$25,431$24,724$24,043$22,385
4 years$19,996$19,235$18,508$17,812$17,148$15,551
5 years$15,837$15,080$14,363$13,682$13,035$11,505
6 years$13,065$12,314$11,607$10,941$10,314$8,852
7 years$11,086$10,341$9,646$8,995$8,388$6,994
8 years$9,602$8,865$8,180$7,546$6,959$5,632
9 years$8,449$7,718$7,046$6,428$5,860$4,600
10 years$7,527$6,803$6,143$5,541$4,993$3,798
11 years$6,773$6,056$5,408$4,822$4,294$3,163
12 years$6,145$5,436$4,799$4,230$3,722$2,652
13 years$5,614$4,913$4,288$3,734$3,245$2,236
14 years$5,159$4,465$3,853$3,315$2,845$1,894
15 years$4,766$4,079$3,478$2,956$2,505$1,610
16 years$4,422$3,743$3,154$2,647$2,214$1,373
17 years$4,118$3,447$2,870$2,378$1,963$1,174
18 years$3,849$3,185$2,620$2,143$1,745$1,006
19 years$3,608$2,952$2,398$1,937$1,556$863
20 years$3,392$2,743$2,201$1,754$1,389$742
21 years$3,196$2,555$2,024$1,592$1,243$639
22 years$3,019$2,385$1,866$1,447$1,115$551
23 years$2,857$2,231$1,723$1,318$1,000$475
24 years$2,709$2,090$1,593$1,202$899$410
25 years$2,573$1,961$1,476$1,098$809$355
26 years$2,448$1,843$1,369$1,004$729$307
27 years$2,332$1,735$1,271$919$657$265
28 years$2,224$1,635$1,181$842$593$230
29 years$2,124$1,542$1,099$772$535$199
30 years$2,031$1,456$1,024$709$484$172
31 years$1,945$1,377$955$651$437$149
32 years$1,863$1,303$891$598$396$129
33 years$1,787$1,234$832$550$358$112
34 years$1,716$1,169$777$506$324$97
35 years$1,648$1,109$727$466$294$84
36 years$1,585$1,053$680$429$266$73
37 years$1,525$1,000$636$395$241$63
38 years$1,469$950$596$364$219$55
39 years$1,415$903$558$336$198$48
40 years$1,364$860$523$310$180$41
41 years$1,316$818$491$286$163$36
42 years$1,271$779$460$264$148$31
43 years$1,227$742$432$244$134$27
44 years$1,186$708$405$225$122$23
45 years$1,146$675$381$208$111$20
46 years$1,109$644$357$192$101$18
47 years$1,073$614$336$177$91$15
48 years$1,039$587$316$164$83$13
49 years$1,006$560$297$151$75$12
50 years$974$535$279$140$68$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $998,000, adding $6,758 every year, while hoping to spend $40,758 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: 49/30/21 Blend
52$998,000$998,000$998,000$998,000
53$1,106,767$1,053,873$1,038,404$1,154,156
54$1,176,291$1,062,146$1,029,824$1,196,049
55$1,251,540$1,069,459$1,019,591$1,236,861
56$1,333,056$1,075,722$1,007,606$1,280,348
57$1,421,433$1,080,837$993,766$1,326,780
58$1,517,325$1,084,704$977,963$1,376,455
59$1,621,452$1,087,214$960,085$1,429,702
60$1,734,605$1,088,252$940,012$1,486,886
61$1,857,653$1,087,696$917,621$1,548,413
62$1,991,556$1,085,414$892,783$1,614,731
63$2,137,365$1,081,271$865,362$1,686,336
64$2,296,242$1,075,118$835,217$1,763,776
65$2,469,461$1,066,801$802,199$1,847,661
66$2,658,427$1,056,155$766,154$1,938,664
67$2,864,685$1,043,006$726,919$2,037,528
68$3,089,938$1,027,168$684,326$2,145,078
69$3,336,057$1,008,445$638,196$2,262,225
70$3,605,105$986,629$588,347$2,389,977
71$3,899,353$961,501$534,583$2,529,450
72$4,221,300$932,827$476,704$2,681,875
73$4,573,697$900,361$414,499$2,848,616
74$4,959,577$863,841$347,747$3,031,180
75$5,382,277$822,992$276,220$3,231,232
76$5,845,472$777,521$199,675$3,450,613
77$6,353,210$727,120$117,865$3,691,358
78$6,909,949$671,461$30,525$3,955,715
79$7,520,601$610,199$0$4,246,167
80$8,190,572$542,969$0$4,579,503
81$8,925,822$469,386$0$4,952,921
82$9,732,910$389,040$0$5,362,990
83$10,619,067$301,503$0$5,813,475
84$11,592,253$206,318$0$6,308,534
85$12,661,241$103,006$0$6,852,750
86$13,835,693$0$0$7,451,182
87$15,126,253$0$0$8,112,359
88$16,544,649$0$0$8,876,516
89$18,103,801$0$0$9,716,622
90$19,817,941$0$0$10,640,363
91$21,702,751$0$0$11,656,204
92$23,775,509$0$0$12,773,472
93$26,055,248$0$0$14,002,444
94$28,562,943$0$0$15,354,442
95$31,321,699$0$0$16,841,942
96$34,356,976$0$0$18,478,690
97$37,696,826$0$0$20,279,830
98$41,372,157$0$0$22,262,051
99$45,417,024$0$0$24,443,739
100$49,868,953$0$0$26,845,154