Can I retire at age 53 with 973,000?

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 $973,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$80,349$79,634$78,935$78,254$77,588$76,115
2 years$39,777$39,036$38,318$37,622$36,947$35,468
3 years$26,255$25,511$24,794$24,105$23,441$22,003
4 years$19,495$18,753$18,044$17,366$16,718$15,332
5 years$15,440$14,703$14,003$13,339$12,709$11,379
6 years$12,737$12,006$11,316$10,667$10,056$8,783
7 years$10,808$10,082$9,404$8,770$8,178$6,963
8 years$9,361$8,642$7,975$7,357$6,785$5,627
9 years$8,237$7,525$6,869$6,267$5,714$4,613
10 years$7,338$6,633$5,989$5,402$4,868$3,823
11 years$6,603$5,905$5,272$4,701$4,187$3,196
12 years$5,991$5,300$4,679$4,124$3,628$2,690
13 years$5,473$4,789$4,180$3,641$3,164$2,277
14 years$5,030$4,353$3,756$3,232$2,773$1,936
15 years$4,646$3,977$3,391$2,882$2,442$1,653
16 years$4,311$3,649$3,075$2,581$2,158$1,416
17 years$4,015$3,360$2,798$2,319$1,914$1,216
18 years$3,752$3,105$2,554$2,090$1,702$1,046
19 years$3,518$2,878$2,338$1,888$1,517$902
20 years$3,307$2,674$2,146$1,710$1,355$779
21 years$3,116$2,491$1,974$1,552$1,212$674
22 years$2,943$2,325$1,819$1,411$1,087$583
23 years$2,786$2,175$1,680$1,285$975$506
24 years$2,641$2,038$1,553$1,172$877$439
25 years$2,509$1,912$1,439$1,070$789$381
26 years$2,386$1,797$1,334$979$711$331
27 years$2,273$1,691$1,239$896$641$288
28 years$2,169$1,594$1,152$821$578$250
29 years$2,071$1,503$1,072$753$522$218
30 years$1,981$1,420$998$691$472$190
31 years$1,896$1,342$931$634$426$165
32 years$1,817$1,270$868$583$386$144
33 years$1,743$1,203$811$536$349$125
34 years$1,673$1,140$758$493$316$109
35 years$1,607$1,081$708$454$286$95
36 years$1,545$1,026$663$418$259$83
37 years$1,487$975$620$385$235$72
38 years$1,432$926$581$355$213$63
39 years$1,380$881$544$328$193$55
40 years$1,330$838$510$302$175$48
41 years$1,283$798$478$279$159$42
42 years$1,239$760$449$257$144$36
43 years$1,196$724$421$237$131$32
44 years$1,156$690$395$219$119$28
45 years$1,118$658$371$202$108$24
46 years$1,081$628$348$187$98$21
47 years$1,046$599$327$173$89$18
48 years$1,013$572$308$160$81$16
49 years$981$546$289$148$73$14
50 years$950$522$272$136$67$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $973,000, adding $6,490 every year, while hoping to spend $52,925 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: 86/5/9 Blend
52$973,000$973,000$973,000$973,000
53$1,078,940$1,027,371$1,012,290$1,169,953
54$1,132,681$1,021,401$989,890$1,224,359
55$1,190,128$1,013,364$964,966$1,276,228
56$1,251,606$1,003,103$937,377$1,331,558
57$1,317,467$990,453$906,976$1,390,661
58$1,388,100$975,236$873,610$1,453,880
59$1,463,928$957,265$837,119$1,521,595
60$1,545,420$936,342$797,333$1,594,221
61$1,633,087$912,257$754,079$1,672,218
62$1,727,493$884,788$707,171$1,756,089
63$1,829,254$853,700$656,418$1,846,391
64$1,939,051$818,744$601,621$1,943,735
65$2,057,627$779,655$542,568$2,048,795
66$2,185,804$736,157$479,043$2,162,313
67$2,324,481$687,954$410,816$2,285,105
68$2,474,648$634,734$337,648$2,418,072
69$2,637,394$576,167$259,291$2,562,205
70$2,813,915$511,907$175,485$2,718,595
71$3,005,529$441,584$85,958$2,888,446
72$3,213,681$364,811$0$3,073,084
73$3,439,965$281,175$0$3,274,889
74$3,686,133$190,244$0$3,503,418
75$3,954,111$91,558$0$3,752,211
76$4,246,021$0$0$4,023,252
77$4,564,196$0$0$4,319,572
78$4,911,205$0$0$4,648,250
79$5,289,875$0$0$5,006,928
80$5,703,318$0$0$5,398,554
81$6,154,959$0$0$5,826,376
82$6,648,569$0$0$6,293,966
83$7,188,300$0$0$6,805,259
84$7,778,724$0$0$7,364,588
85$8,424,873$0$0$7,976,721
86$9,132,291$0$0$8,646,912
87$9,907,079$0$0$9,380,944
88$10,755,959$0$0$10,185,187
89$11,686,334$0$0$11,066,655
90$12,706,354$0$0$12,033,075
91$13,824,999$0$0$13,092,954
92$15,052,158$0$0$14,255,665
93$16,398,723$0$0$15,531,529
94$17,876,691$0$0$16,931,919
95$19,499,280$0$0$18,469,358
96$21,281,046$0$0$20,157,642
97$23,238,026$0$0$22,011,971
98$25,387,887$0$0$24,049,085
99$27,750,092$0$0$26,287,430
100$30,346,079$0$0$28,747,325