Can I retire at age 53 with 972,000?

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 $972,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.7%
1 years$80,267$79,552$78,854$78,173$77,509$75,390
2 years$39,736$38,996$38,279$37,583$36,909$34,790
3 years$26,228$25,484$24,769$24,080$23,417$21,364
4 years$19,475$18,734$18,025$17,348$16,701$14,730
5 years$15,424$14,687$13,988$13,325$12,696$10,812
6 years$12,724$11,993$11,305$10,656$10,046$8,251
7 years$10,797$10,072$9,394$8,761$8,170$6,464
8 years$9,352$8,634$7,967$7,349$6,778$5,160
9 years$8,229$7,517$6,862$6,260$5,708$4,176
10 years$7,330$6,626$5,983$5,396$4,863$3,417
11 years$6,596$5,899$5,267$4,696$4,183$2,818
12 years$5,985$5,294$4,674$4,119$3,625$2,340
13 years$5,468$4,785$4,176$3,637$3,161$1,953
14 years$5,025$4,349$3,752$3,228$2,771$1,637
15 years$4,641$3,973$3,388$2,879$2,439$1,377
16 years$4,306$3,645$3,072$2,578$2,156$1,162
17 years$4,011$3,357$2,795$2,316$1,912$983
18 years$3,749$3,102$2,551$2,087$1,700$833
19 years$3,514$2,875$2,336$1,886$1,515$707
20 years$3,304$2,671$2,144$1,708$1,353$601
21 years$3,113$2,488$1,972$1,550$1,211$511
22 years$2,940$2,323$1,817$1,410$1,086$436
23 years$2,783$2,172$1,678$1,284$974$372
24 years$2,638$2,035$1,552$1,171$876$317
25 years$2,506$1,910$1,437$1,069$788$271
26 years$2,384$1,795$1,333$978$710$231
27 years$2,271$1,690$1,238$895$640$198
28 years$2,166$1,592$1,151$820$578$169
29 years$2,069$1,502$1,071$752$521$145
30 years$1,979$1,418$997$690$471$124
31 years$1,894$1,341$930$634$426$106
32 years$1,815$1,269$868$582$385$91
33 years$1,741$1,202$810$536$349$78
34 years$1,671$1,139$757$493$316$66
35 years$1,606$1,080$708$454$286$57
36 years$1,544$1,025$662$418$259$49
37 years$1,485$974$620$385$235$42
38 years$1,430$925$580$355$213$36
39 years$1,378$880$544$327$193$31
40 years$1,329$837$510$302$175$26
41 years$1,282$797$478$278$159$22
42 years$1,237$759$448$257$144$19
43 years$1,195$723$421$237$131$16
44 years$1,155$689$395$219$119$14
45 years$1,116$657$371$202$108$12
46 years$1,080$627$348$187$98$10
47 years$1,045$598$327$173$89$9
48 years$1,012$571$307$159$81$8
49 years$980$545$289$147$73$7
50 years$949$521$272$136$67$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $972,000, adding $6,500 every year, while hoping to spend $44,187 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: 55/27/18 Blend
52$972,000$972,000$972,000$972,000
53$1,077,849$1,026,333$1,011,267$1,131,593
54$1,140,775$1,029,608$998,130$1,172,265
55$1,208,638$1,031,564$983,071$1,211,261
56$1,281,896$1,032,087$965,981$1,252,746
57$1,361,050$1,031,060$946,742$1,296,971
58$1,446,653$1,028,358$925,234$1,344,211
59$1,539,311$1,023,847$901,329$1,394,772
60$1,639,691$1,017,385$874,893$1,448,994
61$1,748,525$1,008,823$845,788$1,507,254
62$1,866,620$998,001$813,867$1,569,967
63$1,994,864$984,751$778,980$1,637,595
64$2,134,230$968,894$740,966$1,710,650
65$2,285,792$950,240$699,659$1,789,696
66$2,450,730$928,589$654,885$1,875,361
67$2,630,343$903,729$606,462$1,968,337
68$2,826,061$875,434$554,201$2,069,392
69$3,039,455$843,467$497,903$2,179,376
70$3,272,258$807,575$437,361$2,299,227
71$3,526,374$767,492$372,358$2,429,984
72$3,803,900$722,935$302,669$2,572,798
73$4,107,146$673,607$228,056$2,728,939
74$4,438,654$619,193$148,275$2,899,814
75$4,801,221$559,358$63,067$3,086,975
76$5,197,930$493,751$0$3,292,142
77$5,632,174$421,999$0$3,522,565
78$6,107,687$343,709$0$3,788,265
79$6,628,586$258,465$0$4,079,493
80$7,199,401$165,829$0$4,398,871
81$7,825,121$65,336$0$4,749,291
82$8,511,244$0$0$5,133,945
83$9,263,822$0$0$5,569,280
84$10,089,523$0$0$6,068,303
85$10,995,690$0$0$6,616,052
86$11,990,412$0$0$7,217,428
87$13,082,601$0$0$7,877,830
88$14,282,072$0$0$8,603,206
89$15,599,638$0$0$9,400,108
90$17,047,211$0$0$10,275,754
91$18,637,913$0$0$11,238,097
92$20,386,201$0$0$12,295,897
93$22,308,002$0$0$13,458,805
94$24,420,863$0$0$14,737,454
95$26,744,115$0$0$16,143,560
96$29,299,056$0$0$17,690,030
97$32,109,154$0$0$19,391,084
98$35,200,261$0$0$21,262,391
99$38,600,865$0$0$23,321,213
100$42,342,351$0$0$25,586,573