Can I retire at age 53 with 971,000?

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 $971,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$80,184$79,470$78,773$78,093$77,429$76,209
2 years$39,695$38,956$38,239$37,545$36,871$35,645
3 years$26,201$25,458$24,743$24,055$23,392$22,199
4 years$19,455$18,714$18,007$17,330$16,684$15,531
5 years$15,408$14,672$13,974$13,311$12,683$11,575
6 years$12,711$11,981$11,293$10,645$10,035$8,974
7 years$10,786$10,062$9,385$8,752$8,161$7,146
8 years$9,342$8,625$7,959$7,342$6,771$5,801
9 years$8,220$7,509$6,855$6,254$5,702$4,778
10 years$7,323$6,619$5,976$5,391$4,858$3,980
11 years$6,589$5,893$5,261$4,692$4,178$3,344
12 years$5,979$5,289$4,669$4,115$3,621$2,829
13 years$5,462$4,780$4,172$3,633$3,157$2,407
14 years$5,020$4,345$3,748$3,225$2,768$2,058
15 years$4,637$3,969$3,384$2,876$2,437$1,767
16 years$4,302$3,641$3,068$2,575$2,154$1,522
17 years$4,007$3,354$2,792$2,314$1,910$1,314
18 years$3,745$3,099$2,549$2,085$1,698$1,137
19 years$3,511$2,872$2,333$1,884$1,513$987
20 years$3,300$2,669$2,141$1,707$1,352$857
21 years$3,110$2,486$1,970$1,549$1,210$746
22 years$2,937$2,320$1,815$1,408$1,084$650
23 years$2,780$2,170$1,676$1,282$973$567
24 years$2,636$2,033$1,550$1,170$875$495
25 years$2,503$1,908$1,436$1,068$787$432
26 years$2,381$1,793$1,332$977$709$378
27 years$2,269$1,688$1,237$894$639$331
28 years$2,164$1,590$1,150$819$577$290
29 years$2,067$1,500$1,070$751$521$254
30 years$1,977$1,417$996$689$471$222
31 years$1,892$1,339$929$633$426$195
32 years$1,813$1,267$867$582$385$171
33 years$1,739$1,200$809$535$348$150
34 years$1,669$1,138$756$492$315$131
35 years$1,604$1,079$707$453$286$115
36 years$1,542$1,024$661$417$259$101
37 years$1,484$973$619$385$235$89
38 years$1,429$924$580$354$213$78
39 years$1,377$879$543$327$193$68
40 years$1,328$836$509$301$175$60
41 years$1,281$796$477$278$159$53
42 years$1,236$758$448$257$144$46
43 years$1,194$722$420$237$131$41
44 years$1,154$689$394$219$119$36
45 years$1,115$657$370$202$108$31
46 years$1,079$626$348$187$98$28
47 years$1,044$598$327$172$89$24
48 years$1,010$571$307$159$81$21
49 years$979$545$289$147$73$19
50 years$948$521$271$136$67$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $971,000, adding $5,008 every year, while hoping to spend $52,347 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: 28/43/29 Blend
52$971,000$971,000$971,000$971,000
53$1,075,208$1,023,745$1,008,694$1,095,561
54$1,129,182$1,018,211$986,789$1,106,766
55$1,186,907$1,010,653$962,395$1,113,961
56$1,248,711$1,000,914$935,374$1,120,647
57$1,314,952$988,831$905,581$1,126,817
58$1,386,024$974,230$872,865$1,132,470
59$1,462,359$956,928$837,067$1,137,608
60$1,544,431$936,729$798,020$1,142,240
61$1,632,762$913,428$755,553$1,146,382
62$1,727,922$886,804$709,483$1,150,057
63$1,830,541$856,628$659,620$1,153,299
64$1,941,307$822,654$605,769$1,156,149
65$2,060,979$784,622$547,720$1,158,664
66$2,190,389$742,260$485,260$1,160,913
67$2,330,454$695,276$418,161$1,162,979
68$2,482,180$643,364$346,189$1,164,964
69$2,646,674$586,200$269,098$1,166,991
70$2,825,152$523,441$186,630$1,169,202
71$3,018,953$454,725$98,518$1,171,768
72$3,229,550$379,670$4,482$1,174,887
73$3,458,561$297,871$0$1,178,789
74$3,707,769$208,902$0$1,213,404
75$3,979,133$112,310$0$1,252,783
76$4,274,812$7,620$0$1,295,986
77$4,597,179$0$0$1,343,519
78$4,948,847$0$0$1,445,949
79$5,332,692$0$0$1,561,834
80$5,751,879$0$0$1,688,545
81$6,209,894$0$0$1,827,153
82$6,710,574$0$0$1,978,840
83$7,258,141$0$0$2,144,906
84$7,857,248$0$0$2,326,785
85$8,513,015$0$0$2,526,052
86$9,231,082$0$0$2,744,446
87$10,017,658$0$0$2,983,880
88$10,879,583$0$0$3,246,459
89$11,824,388$0$0$3,534,506
90$12,860,369$0$0$3,850,576
91$13,996,661$0$0$4,197,486
92$15,243,328$0$0$4,578,336
93$16,611,453$0$0$4,996,542
94$18,113,246$0$0$5,455,869
95$19,762,156$0$0$5,960,463
96$21,572,998$0$0$6,514,890
97$23,562,092$0$0$7,124,181
98$25,747,415$0$0$7,793,882
99$28,148,774$0$0$8,530,096
100$30,787,988$0$0$9,339,554