Can I retire at age 53 with 983,000?

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 $983,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.7%
1 years$81,175$80,452$79,747$79,058$78,386$75,937
2 years$40,186$39,437$38,712$38,009$37,327$34,882
3 years$26,524$25,773$25,049$24,353$23,682$21,317
4 years$19,695$18,946$18,229$17,545$16,890$14,623
5 years$15,599$14,854$14,147$13,476$12,839$10,677
6 years$12,868$12,129$11,433$10,777$10,159$8,104
7 years$10,919$10,186$9,501$8,860$8,262$6,313
8 years$9,458$8,731$8,057$7,433$6,854$5,010
9 years$8,322$7,602$6,940$6,331$5,772$4,030
10 years$7,413$6,701$6,050$5,457$4,918$3,276
11 years$6,671$5,965$5,327$4,750$4,230$2,685
12 years$6,052$5,354$4,727$4,166$3,666$2,215
13 years$5,530$4,839$4,223$3,678$3,196$1,836
14 years$5,082$4,398$3,795$3,265$2,802$1,529
15 years$4,694$4,018$3,426$2,912$2,467$1,277
16 years$4,355$3,686$3,106$2,607$2,180$1,070
17 years$4,056$3,395$2,827$2,342$1,933$898
18 years$3,791$3,137$2,580$2,111$1,719$755
19 years$3,554$2,907$2,362$1,907$1,532$636
20 years$3,341$2,702$2,168$1,728$1,369$537
21 years$3,148$2,517$1,994$1,568$1,225$453
22 years$2,974$2,349$1,838$1,426$1,098$383
23 years$2,814$2,197$1,697$1,298$985$324
24 years$2,668$2,059$1,569$1,184$886$275
25 years$2,534$1,932$1,454$1,081$797$233
26 years$2,411$1,816$1,348$989$718$197
27 years$2,297$1,709$1,252$905$647$167
28 years$2,191$1,610$1,164$829$584$142
29 years$2,093$1,519$1,083$760$527$120
30 years$2,001$1,434$1,009$698$477$102
31 years$1,915$1,356$940$641$431$87
32 years$1,835$1,283$877$589$390$73
33 years$1,760$1,215$819$542$353$62
34 years$1,690$1,152$765$498$319$53
35 years$1,624$1,092$716$459$289$45
36 years$1,561$1,037$669$423$262$38
37 years$1,502$985$627$389$238$32
38 years$1,447$936$587$359$215$28
39 years$1,394$890$550$331$195$23
40 years$1,344$847$515$305$177$20
41 years$1,297$806$483$282$161$17
42 years$1,252$768$453$260$146$14
43 years$1,209$731$425$240$132$12
44 years$1,168$697$399$221$120$10
45 years$1,129$665$375$205$109$9
46 years$1,092$634$352$189$99$7
47 years$1,057$605$331$175$90$6
48 years$1,023$578$311$161$82$5
49 years$991$552$292$149$74$5
50 years$960$527$275$138$67$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $983,000, adding $6,418 every year, while hoping to spend $24,559 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: 56/19/25 Blend
52$983,000$983,000$983,000$983,000
53$1,089,886$1,037,787$1,022,551$1,143,138
54$1,174,924$1,062,508$1,030,676$1,205,093
55$1,267,813$1,087,617$1,038,249$1,269,439
56$1,369,327$1,113,108$1,045,228$1,339,033
57$1,480,319$1,138,972$1,051,565$1,414,386
58$1,601,730$1,165,199$1,057,210$1,496,065
59$1,734,593$1,191,780$1,062,113$1,584,692
60$1,880,046$1,218,703$1,066,219$1,680,953
61$2,039,345$1,245,953$1,069,471$1,785,604
62$2,213,869$1,273,515$1,071,809$1,899,481
63$2,405,140$1,301,374$1,073,171$2,023,501
64$2,614,832$1,329,509$1,073,490$2,158,678
65$2,844,790$1,357,900$1,072,697$2,306,127
66$3,097,046$1,386,525$1,070,720$2,467,081
67$3,373,839$1,415,358$1,067,483$2,642,895
68$3,677,632$1,444,373$1,062,905$2,835,064
69$4,011,141$1,473,538$1,056,903$3,045,236
70$4,377,358$1,502,821$1,049,390$3,275,229
71$4,779,577$1,532,188$1,040,273$3,527,045
72$5,221,427$1,561,599$1,029,456$3,802,891
73$5,706,908$1,591,012$1,016,838$4,105,201
74$6,240,424$1,620,384$1,002,313$4,436,656
75$6,826,828$1,649,663$985,772$4,800,215
76$7,471,467$1,678,799$967,097$5,199,134
77$8,180,230$1,707,734$946,169$5,637,007
78$8,959,607$1,736,407$922,859$6,117,795
79$9,816,749$1,764,752$897,036$6,645,861
80$10,759,531$1,792,699$868,561$7,226,017
81$11,796,634$1,820,171$837,288$7,863,567
82$12,937,619$1,847,088$803,066$8,564,357
83$14,193,023$1,873,363$765,736$9,334,830
84$15,574,455$1,898,902$725,132$10,182,090
85$17,094,707$1,923,605$681,081$11,113,966
86$18,767,871$1,947,365$633,401$12,139,086
87$20,609,477$1,970,069$581,903$13,266,964
88$22,636,636$1,991,596$526,390$14,508,083
89$24,868,203$2,011,814$466,654$15,874,000
90$27,324,953$2,030,586$402,480$17,377,452
91$30,029,777$2,047,763$333,642$19,032,479
92$33,007,900$2,063,190$259,905$20,854,555
93$36,287,117$2,076,697$181,023$22,860,736
94$39,898,055$2,088,107$96,739$25,069,822
95$43,874,463$2,097,230$6,786$27,502,532
96$48,253,529$2,103,865$0$30,181,704
97$53,076,231$2,107,797$0$33,156,306
98$58,387,725$2,108,798$0$36,433,762
99$64,237,770$2,106,626$0$40,042,917
100$70,681,197$2,101,024$0$44,017,558