Can I retire at age 53 with 980,000?

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 $980,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.9%
1 years$80,927$80,207$79,503$78,817$78,147$75,046
2 years$40,063$39,317$38,594$37,893$37,213$34,127
3 years$26,443$25,694$24,973$24,278$23,609$20,636
4 years$19,635$18,888$18,174$17,491$16,838$14,000
5 years$15,551$14,808$14,104$13,435$12,800$10,105
6 years$12,829$12,092$11,398$10,744$10,128$7,577
7 years$10,886$10,155$9,472$8,833$8,237$5,828
8 years$9,429$8,705$8,033$7,410$6,833$4,565
9 years$8,296$7,579$6,919$6,312$5,755$3,624
10 years$7,391$6,680$6,032$5,441$4,903$2,905
11 years$6,650$5,947$5,310$4,735$4,217$2,347
12 years$6,034$5,338$4,713$4,153$3,654$1,908
13 years$5,513$4,824$4,211$3,667$3,187$1,558
14 years$5,066$4,385$3,783$3,255$2,793$1,277
15 years$4,680$4,006$3,416$2,903$2,460$1,051
16 years$4,342$3,675$3,097$2,599$2,174$866
17 years$4,044$3,385$2,818$2,335$1,927$715
18 years$3,779$3,128$2,572$2,105$1,714$592
19 years$3,543$2,899$2,355$1,902$1,528$491
20 years$3,331$2,693$2,161$1,722$1,364$407
21 years$3,139$2,509$1,988$1,563$1,221$338
22 years$2,964$2,342$1,832$1,421$1,094$281
23 years$2,806$2,190$1,692$1,294$982$233
24 years$2,660$2,052$1,565$1,181$883$194
25 years$2,527$1,926$1,449$1,078$795$162
26 years$2,403$1,810$1,344$986$716$135
27 years$2,290$1,703$1,248$902$645$112
28 years$2,184$1,605$1,160$827$582$93
29 years$2,086$1,514$1,080$758$526$78
30 years$1,995$1,430$1,006$696$475$65
31 years$1,910$1,352$938$639$430$54
32 years$1,830$1,279$875$587$389$45
33 years$1,755$1,211$817$540$352$38
34 years$1,685$1,148$763$497$318$31
35 years$1,619$1,089$713$457$288$26
36 years$1,556$1,034$667$421$261$22
37 years$1,498$982$625$388$237$18
38 years$1,442$933$585$358$215$15
39 years$1,390$887$548$330$195$13
40 years$1,340$844$514$304$177$11
41 years$1,293$803$482$281$160$9
42 years$1,248$765$452$259$145$7
43 years$1,205$729$424$239$132$6
44 years$1,164$695$398$221$120$5
45 years$1,126$663$374$204$109$4
46 years$1,089$632$351$188$99$4
47 years$1,054$603$330$174$90$3
48 years$1,020$576$310$161$81$2
49 years$988$550$291$149$74$2
50 years$957$525$274$137$67$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $980,000, adding $6,663 every year, while hoping to spend $40,216 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: 44/31/25 Blend
52$980,000$980,000$980,000$980,000
53$1,086,833$1,034,893$1,019,703$1,126,516
54$1,154,900$1,042,813$1,011,073$1,163,265
55$1,228,563$1,049,774$1,000,807$1,198,686
56$1,308,348$1,055,685$988,806$1,236,289
57$1,394,838$1,060,452$974,970$1,276,299
58$1,488,671$1,063,972$959,190$1,318,966
59$1,590,548$1,066,140$941,356$1,364,566
60$1,701,243$1,066,840$921,350$1,413,406
61$1,821,605$1,065,951$899,051$1,465,827
62$1,952,570$1,063,343$874,330$1,522,209
63$2,095,165$1,058,880$847,053$1,582,970
64$2,250,523$1,052,417$817,081$1,648,576
65$2,419,890$1,043,799$784,267$1,719,544
66$2,604,637$1,032,863$748,457$1,796,445
67$2,806,272$1,019,435$709,493$1,879,913
68$3,026,456$1,003,332$667,206$1,970,652
69$3,267,019$984,359$621,421$2,069,439
70$3,529,973$962,311$571,957$2,177,137
71$3,817,534$936,968$518,621$2,294,699
72$4,132,143$908,100$461,215$2,423,183
73$4,476,486$875,462$399,531$2,563,758
74$4,853,523$838,794$333,350$2,717,719
75$5,266,511$797,824$262,446$2,886,497
76$5,719,038$752,261$186,581$3,071,677
77$6,215,057$701,798$105,509$3,275,012
78$6,758,919$646,112$18,969$3,498,440
79$7,355,417$584,861$0$3,744,104
80$8,009,832$517,681$0$4,033,950
81$8,727,978$444,191$0$4,357,692
82$9,516,261$363,985$0$4,713,242
83$10,381,737$276,637$0$5,103,879
84$11,332,178$181,697$0$5,533,226
85$12,376,146$78,686$0$6,005,278
86$13,523,074$0$0$6,524,445
87$14,783,352$0$0$7,106,814
88$16,168,428$0$0$7,776,477
89$17,690,912$0$0$8,512,706
90$19,364,699$0$0$9,322,236
91$21,205,096$0$0$10,212,487
92$23,228,966$0$0$11,191,634
93$25,454,892$0$0$12,268,685
94$27,903,343$0$0$13,453,563
95$30,596,877$0$0$14,757,202
96$33,560,344$0$0$16,191,652
97$36,821,126$0$0$17,770,186
98$40,409,392$0$0$19,507,430
99$44,358,387$0$0$21,419,500
100$48,704,736$0$0$23,524,155