Can I retire at age 53 with 977,000?

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 $977,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$80,680$79,961$79,260$78,576$77,907$77,255
2 years$39,940$39,197$38,476$37,777$37,099$36,441
3 years$26,362$25,615$24,896$24,204$23,537$22,894
4 years$19,575$18,830$18,118$17,438$16,787$16,164
5 years$15,503$14,763$14,060$13,394$12,761$12,161
6 years$12,790$12,055$11,363$10,711$10,097$9,520
7 years$10,852$10,124$9,443$8,806$8,212$7,657
8 years$9,400$8,678$8,008$7,387$6,813$6,281
9 years$8,271$7,556$6,897$6,292$5,737$5,229
10 years$7,368$6,660$6,013$5,424$4,888$4,402
11 years$6,630$5,929$5,294$4,721$4,204$3,740
12 years$6,015$5,322$4,698$4,141$3,643$3,201
13 years$5,496$4,809$4,198$3,655$3,177$2,756
14 years$5,051$4,371$3,772$3,245$2,785$2,385
15 years$4,665$3,993$3,405$2,894$2,452$2,072
16 years$4,328$3,664$3,087$2,591$2,167$1,807
17 years$4,032$3,374$2,809$2,328$1,922$1,580
18 years$3,768$3,118$2,565$2,098$1,709$1,386
19 years$3,532$2,890$2,348$1,896$1,523$1,218
20 years$3,321$2,685$2,155$1,717$1,360$1,072
21 years$3,129$2,501$1,982$1,558$1,217$946
22 years$2,955$2,335$1,827$1,417$1,091$835
23 years$2,797$2,184$1,687$1,290$979$739
24 years$2,652$2,046$1,560$1,177$880$654
25 years$2,519$1,920$1,445$1,075$792$579
26 years$2,396$1,805$1,340$983$714$514
27 years$2,283$1,698$1,244$900$643$456
28 years$2,178$1,600$1,157$824$580$405
29 years$2,080$1,510$1,076$756$524$360
30 years$1,989$1,426$1,003$694$474$320
31 years$1,904$1,348$935$637$428$285
32 years$1,824$1,275$872$585$387$253
33 years$1,750$1,208$814$538$351$226
34 years$1,680$1,145$761$495$317$201
35 years$1,614$1,086$711$456$287$179
36 years$1,552$1,030$665$420$260$159
37 years$1,493$979$623$387$236$142
38 years$1,438$930$583$357$214$127
39 years$1,385$884$546$329$194$113
40 years$1,336$841$512$303$176$101
41 years$1,289$801$480$280$160$90
42 years$1,244$763$450$258$145$80
43 years$1,201$727$423$238$132$71
44 years$1,161$693$397$220$119$64
45 years$1,122$661$373$203$108$57
46 years$1,085$630$350$188$98$51
47 years$1,050$601$329$173$89$45
48 years$1,017$574$309$160$81$40
49 years$985$548$290$148$74$36
50 years$954$524$273$137$67$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $977,000, adding $3,739 every year, while hoping to spend $26,353 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: 55/31/14 Blend
52$977,000$977,000$977,000$977,000
53$1,080,511$1,028,730$1,013,586$1,135,793
54$1,162,683$1,051,098$1,019,502$1,196,151
55$1,252,355$1,073,679$1,024,733$1,258,668
56$1,350,261$1,096,456$1,029,228$1,326,135
57$1,457,214$1,119,409$1,032,933$1,399,031
58$1,574,107$1,142,517$1,035,794$1,477,882
59$1,701,923$1,165,758$1,037,750$1,563,268
60$1,841,746$1,189,106$1,038,741$1,655,829
61$1,994,766$1,212,534$1,038,700$1,756,268
62$2,162,296$1,236,013$1,037,561$1,865,362
63$2,345,783$1,259,510$1,035,252$1,983,966
64$2,546,818$1,282,991$1,031,698$2,113,024
65$2,767,154$1,306,418$1,026,821$2,253,574
66$3,008,722$1,329,751$1,020,538$2,406,761
67$3,273,649$1,352,945$1,012,763$2,573,848
68$3,564,276$1,375,955$1,003,405$2,756,226
69$3,883,183$1,398,728$992,371$2,955,428
70$4,233,213$1,421,211$979,560$3,173,146
71$4,617,495$1,443,344$964,870$3,411,241
72$5,039,478$1,465,066$948,191$3,671,769
73$5,502,959$1,486,309$929,409$3,956,993
74$6,012,123$1,507,000$908,407$4,269,408
75$6,571,579$1,527,063$885,058$4,611,765
76$7,186,406$1,546,415$859,233$4,987,096
77$7,862,197$1,564,967$830,796$5,398,745
78$8,605,117$1,582,626$799,603$5,850,395
79$9,421,956$1,599,292$765,507$6,346,108
80$10,320,194$1,614,856$728,350$6,890,361
81$11,308,074$1,629,204$687,970$7,488,089
82$12,394,678$1,642,215$644,197$8,144,732
83$13,590,010$1,653,758$596,853$8,866,286
84$14,905,095$1,663,697$545,751$9,659,362
85$16,352,079$1,671,882$490,698$10,531,246
86$17,944,345$1,678,159$431,491$11,489,968
87$19,696,640$1,682,360$367,917$12,544,383
88$21,625,211$1,684,309$299,756$13,704,248
89$23,747,961$1,683,819$226,776$14,980,320
90$26,084,616$1,680,689$148,737$16,384,456
91$28,656,912$1,674,708$65,385$17,929,725
92$31,488,800$1,665,652$0$19,630,532
93$34,606,671$1,653,282$0$21,506,276
94$38,039,604$1,637,345$0$23,581,591
95$41,819,642$1,617,573$0$25,866,032
96$45,982,093$1,593,682$0$28,380,909
97$50,565,866$1,565,372$0$31,149,704
98$55,613,832$1,532,323$0$34,198,298
99$61,173,233$1,494,197$0$37,555,215
100$67,296,126$1,450,636$0$41,251,891