Can I retire at age 53 with 982,000?

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 $982,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.2%
1 years$81,093$80,370$79,666$78,978$78,306$75,408
2 years$40,145$39,397$38,673$37,970$37,289$34,401
3 years$26,497$25,747$25,024$24,328$23,657$20,872
4 years$19,675$18,926$18,211$17,527$16,873$14,210
5 years$15,583$14,839$14,132$13,462$12,826$10,294
6 years$12,855$12,117$11,421$10,766$10,149$7,749
7 years$10,908$10,176$9,491$8,851$8,254$5,985
8 years$9,448$8,722$8,049$7,425$6,847$4,707
9 years$8,313$7,594$6,933$6,325$5,767$3,752
10 years$7,406$6,694$6,044$5,452$4,913$3,022
11 years$6,664$5,959$5,321$4,745$4,226$2,453
12 years$6,046$5,349$4,722$4,162$3,662$2,003
13 years$5,524$4,834$4,219$3,674$3,193$1,644
14 years$5,077$4,394$3,791$3,262$2,799$1,354
15 years$4,689$4,014$3,423$2,909$2,465$1,119
16 years$4,351$3,683$3,103$2,604$2,178$927
17 years$4,052$3,392$2,824$2,340$1,931$770
18 years$3,787$3,134$2,578$2,109$1,717$641
19 years$3,550$2,904$2,360$1,906$1,531$534
20 years$3,338$2,699$2,166$1,726$1,367$445
21 years$3,145$2,514$1,992$1,566$1,223$371
22 years$2,971$2,347$1,836$1,424$1,097$310
23 years$2,811$2,195$1,695$1,297$984$259
24 years$2,666$2,056$1,568$1,183$885$217
25 years$2,532$1,930$1,452$1,080$796$182
26 years$2,408$1,814$1,347$988$717$152
27 years$2,294$1,707$1,251$904$647$127
28 years$2,189$1,608$1,163$828$583$107
29 years$2,090$1,517$1,082$760$527$89
30 years$1,999$1,433$1,008$697$476$75
31 years$1,913$1,355$939$640$430$63
32 years$1,834$1,282$877$588$389$53
33 years$1,759$1,214$818$541$352$44
34 years$1,688$1,150$765$498$319$37
35 years$1,622$1,091$715$458$289$31
36 years$1,560$1,036$669$422$262$26
37 years$1,501$984$626$389$237$22
38 years$1,445$935$586$358$215$18
39 years$1,392$889$549$331$195$15
40 years$1,343$846$515$305$177$13
41 years$1,295$805$483$281$161$11
42 years$1,250$767$453$260$146$9
43 years$1,207$731$425$240$132$8
44 years$1,167$696$399$221$120$6
45 years$1,128$664$374$204$109$5
46 years$1,091$633$352$189$99$4
47 years$1,056$605$330$174$90$4
48 years$1,022$577$311$161$82$3
49 years$990$551$292$149$74$3
50 years$959$526$274$138$67$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $982,000, adding $5,719 every year, while hoping to spend $21,060 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: 29/49/22 Blend
52$982,000$982,000$982,000$982,000
53$1,088,063$1,036,017$1,020,796$1,111,985
54$1,176,638$1,064,374$1,032,585$1,159,274
55$1,273,541$1,093,415$1,044,063$1,207,822
56$1,379,601$1,123,151$1,055,198$1,259,577
57$1,495,728$1,153,593$1,065,954$1,314,828
58$1,622,925$1,184,751$1,076,296$1,373,892
59$1,762,297$1,216,638$1,086,186$1,437,120
60$1,915,060$1,249,263$1,095,583$1,504,896
61$2,082,556$1,282,636$1,104,444$1,577,645
62$2,266,259$1,316,767$1,112,725$1,655,833
63$2,467,795$1,351,666$1,120,379$1,739,974
64$2,688,954$1,387,342$1,127,356$1,830,634
65$2,931,710$1,423,804$1,133,605$1,928,434
66$3,198,233$1,461,060$1,139,070$2,034,063
67$3,490,918$1,499,117$1,143,694$2,148,275
68$3,812,401$1,537,982$1,147,416$2,271,902
69$4,165,585$1,577,663$1,150,174$2,405,862
70$4,553,669$1,618,163$1,151,900$2,551,165
71$4,980,180$1,659,489$1,152,524$2,708,924
72$5,448,998$1,701,644$1,151,974$2,880,364
73$5,964,402$1,744,631$1,150,171$3,066,838
74$6,531,105$1,788,452$1,147,036$3,269,834
75$7,154,299$1,833,108$1,142,483$3,490,993
76$7,839,706$1,878,598$1,136,424$3,732,122
77$8,593,627$1,924,920$1,128,766$3,995,215
78$9,423,008$1,972,072$1,119,410$4,282,465
79$10,335,499$2,020,049$1,108,255$4,596,294
80$11,339,533$2,068,843$1,095,194$4,939,368
81$12,444,397$2,118,448$1,080,115$5,314,625
82$13,660,326$2,168,853$1,062,899$5,725,306
83$14,998,598$2,220,045$1,043,425$6,174,979
84$16,471,638$2,272,011$1,021,563$6,667,579
85$18,093,139$2,324,734$997,179$7,207,443
86$19,878,187$2,378,193$970,133$7,799,350
87$21,843,406$2,432,368$940,276$8,448,569
88$24,007,112$2,487,234$907,454$9,160,905
89$26,389,491$2,542,761$871,507$9,942,757
90$29,012,782$2,598,920$832,266$10,801,180
91$31,901,494$2,655,675$789,554$11,743,947
92$35,082,630$2,712,986$743,188$12,779,627
93$38,585,948$2,770,813$692,975$13,917,663
94$42,444,239$2,829,107$638,714$15,168,467
95$46,693,635$2,887,817$580,195$16,543,509
96$51,373,952$2,946,886$517,198$18,055,437
97$56,529,065$3,006,253$449,493$19,718,188
98$62,207,321$3,065,851$376,843$21,547,123
99$68,461,996$3,125,606$298,995$23,559,175
100$75,351,798$3,185,439$215,690$25,773,006