Can I retire at age 53 with 981,000?

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 $981,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.1%
1 years$81,010$80,288$79,584$78,897$78,226$75,662
2 years$40,104$39,357$38,633$37,931$37,251$34,691
3 years$26,470$25,720$24,998$24,303$23,633$21,160
4 years$19,655$18,907$18,192$17,509$16,855$14,486
5 years$15,567$14,823$14,118$13,449$12,813$10,555
6 years$12,842$12,104$11,409$10,755$10,139$7,993
7 years$10,897$10,165$9,481$8,842$8,245$6,212
8 years$9,438$8,714$8,041$7,418$6,840$4,918
9 years$8,305$7,587$6,926$6,318$5,761$3,947
10 years$7,398$6,687$6,038$5,446$4,908$3,201
11 years$6,657$5,953$5,316$4,740$4,221$2,617
12 years$6,040$5,343$4,718$4,157$3,658$2,153
13 years$5,518$4,829$4,215$3,670$3,190$1,780
14 years$5,071$4,389$3,787$3,258$2,796$1,478
15 years$4,684$4,010$3,419$2,906$2,462$1,231
16 years$4,346$3,679$3,100$2,602$2,176$1,028
17 years$4,048$3,388$2,821$2,338$1,929$861
18 years$3,783$3,131$2,575$2,107$1,716$722
19 years$3,547$2,902$2,357$1,904$1,529$606
20 years$3,334$2,696$2,163$1,724$1,366$510
21 years$3,142$2,511$1,990$1,565$1,222$429
22 years$2,968$2,344$1,834$1,423$1,096$362
23 years$2,808$2,193$1,693$1,296$983$305
24 years$2,663$2,054$1,566$1,182$884$257
25 years$2,529$1,928$1,451$1,079$795$217
26 years$2,406$1,812$1,345$987$716$184
27 years$2,292$1,705$1,249$903$646$155
28 years$2,186$1,607$1,161$828$583$131
29 years$2,088$1,516$1,081$759$526$111
30 years$1,997$1,432$1,007$696$476$94
31 years$1,912$1,353$938$640$430$79
32 years$1,832$1,280$876$588$389$67
33 years$1,757$1,213$818$541$352$57
34 years$1,687$1,149$764$497$319$48
35 years$1,620$1,090$714$458$289$41
36 years$1,558$1,035$668$422$262$34
37 years$1,499$983$625$389$237$29
38 years$1,444$934$586$358$215$25
39 years$1,391$888$549$330$195$21
40 years$1,341$845$514$305$177$18
41 years$1,294$804$482$281$160$15
42 years$1,249$766$452$259$146$13
43 years$1,206$730$424$239$132$11
44 years$1,166$696$398$221$120$9
45 years$1,127$663$374$204$109$8
46 years$1,090$633$351$189$99$7
47 years$1,055$604$330$174$90$6
48 years$1,021$577$310$161$81$5
49 years$989$551$292$149$74$4
50 years$958$526$274$138$67$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $981,000, adding $5,696 every year, while hoping to spend $45,074 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: 62/11/27 Blend
52$981,000$981,000$981,000$981,000
53$1,086,937$1,034,944$1,019,739$1,146,158
54$1,149,847$1,037,698$1,005,942$1,189,789
55$1,217,662$1,039,076$990,172$1,231,999
56$1,290,836$1,038,964$972,315$1,277,120
57$1,369,867$1,037,238$952,253$1,325,444
58$1,455,300$1,033,770$929,861$1,377,296
59$1,547,738$1,028,422$905,008$1,433,034
60$1,647,840$1,021,048$877,559$1,493,055
61$1,756,333$1,011,492$847,370$1,557,796
62$1,874,016$999,592$814,294$1,627,744
63$2,001,766$985,172$778,173$1,703,435
64$2,140,549$968,049$738,845$1,785,462
65$2,291,428$948,026$696,139$1,874,482
66$2,455,572$924,898$649,878$1,971,219
67$2,634,267$898,444$599,875$2,076,475
68$2,828,927$868,434$545,937$2,191,136
69$3,041,111$834,620$487,859$2,316,182
70$3,272,533$796,745$425,430$2,452,694
71$3,525,078$754,532$358,429$2,601,869
72$3,800,823$707,691$286,623$2,765,025
73$4,102,054$655,915$209,772$2,943,624
74$4,431,287$598,878$127,623$3,139,276
75$4,791,293$536,238$39,914$3,353,762
76$5,185,122$467,631$0$3,589,047
77$5,616,132$392,673$0$3,862,768
78$6,088,023$310,960$0$4,175,133
79$6,604,867$222,062$0$4,517,363
80$7,171,149$125,528$0$4,892,470
81$7,791,807$20,880$0$5,303,772
82$8,472,283$0$0$5,754,928
83$9,218,567$0$0$6,261,151
84$10,037,259$0$0$6,819,338
85$10,935,626$0$0$7,431,925
86$11,921,676$0$0$8,104,383
87$13,004,228$0$0$8,842,734
88$14,192,996$0$0$9,653,616
89$15,498,682$0$0$10,544,339
90$16,933,074$0$0$11,522,957
91$18,509,161$0$0$12,598,341
92$20,241,250$0$0$13,780,266
93$22,145,102$0$0$15,079,499
94$24,238,084$0$0$16,507,904
95$26,539,326$0$0$18,078,550
96$29,069,908$0$0$19,805,838
97$31,853,051$0$0$21,705,632
98$34,914,342$0$0$23,795,413
99$38,281,971$0$0$26,094,439
100$41,987,000$0$0$28,623,930