Can I retire at age 53 with 985,000?

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 $985,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$81,340$80,616$79,909$79,219$78,545$77,181
2 years$40,268$39,518$38,791$38,086$37,403$36,032
3 years$26,578$25,825$25,100$24,402$23,730$22,396
4 years$19,735$18,984$18,267$17,580$16,924$15,638
5 years$15,630$14,884$14,176$13,503$12,866$11,630
6 years$12,895$12,154$11,456$10,799$10,180$8,997
7 years$10,941$10,207$9,520$8,878$8,279$7,148
8 years$9,477$8,749$8,074$7,448$6,868$5,790
9 years$8,339$7,618$6,954$6,344$5,784$4,757
10 years$7,429$6,715$6,063$5,468$4,928$3,953
11 years$6,684$5,978$5,337$4,759$4,239$3,313
12 years$6,065$5,365$4,737$4,174$3,673$2,796
13 years$5,541$4,849$4,232$3,685$3,203$2,373
14 years$5,092$4,407$3,802$3,271$2,808$2,023
15 years$4,704$4,026$3,433$2,918$2,472$1,732
16 years$4,364$3,694$3,113$2,612$2,185$1,487
17 years$4,065$3,402$2,832$2,347$1,937$1,281
18 years$3,799$3,143$2,586$2,115$1,723$1,105
19 years$3,561$2,913$2,367$1,911$1,535$956
20 years$3,348$2,707$2,172$1,731$1,371$828
21 years$3,155$2,522$1,998$1,571$1,227$718
22 years$2,980$2,354$1,842$1,428$1,100$624
23 years$2,820$2,202$1,700$1,301$987$543
24 years$2,674$2,063$1,573$1,187$888$472
25 years$2,539$1,936$1,456$1,084$799$411
26 years$2,416$1,819$1,351$991$719$358
27 years$2,301$1,712$1,254$907$649$313
28 years$2,195$1,613$1,166$831$585$273
29 years$2,097$1,522$1,085$762$528$238
30 years$2,005$1,437$1,011$699$477$208
31 years$1,919$1,359$942$642$432$182
32 years$1,839$1,286$879$590$391$159
33 years$1,764$1,218$821$543$353$139
34 years$1,693$1,154$767$499$320$121
35 years$1,627$1,095$717$460$290$106
36 years$1,564$1,039$671$423$263$93
37 years$1,505$987$628$390$238$81
38 years$1,450$938$588$360$216$71
39 years$1,397$892$551$332$196$62
40 years$1,347$848$516$306$177$54
41 years$1,299$808$484$282$161$48
42 years$1,254$769$454$260$146$42
43 years$1,211$733$426$240$133$36
44 years$1,170$698$400$222$120$32
45 years$1,131$666$376$205$109$28
46 years$1,094$635$353$189$99$24
47 years$1,059$606$331$175$90$21
48 years$1,025$579$311$162$82$19
49 years$993$553$293$149$74$16
50 years$962$528$275$138$67$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $985,000, adding $6,300 every year, while hoping to spend $42,825 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: 61/25/14 Blend
52$985,000$985,000$985,000$985,000
53$1,091,968$1,039,763$1,024,496$1,154,441
54$1,157,784$1,045,146$1,013,251$1,202,589
55$1,228,877$1,049,358$1,000,194$1,249,708
56$1,305,741$1,052,295$985,219$1,300,099
57$1,388,918$1,053,849$968,216$1,354,080
58$1,479,004$1,053,904$949,067$1,412,006
59$1,576,654$1,052,337$927,652$1,474,268
60$1,682,588$1,049,016$903,844$1,541,296
61$1,797,598$1,043,805$877,509$1,613,568
62$1,922,556$1,036,554$848,509$1,691,611
63$2,058,421$1,027,109$816,698$1,776,007
64$2,206,246$1,015,303$781,923$1,867,401
65$2,367,192$1,000,962$744,027$1,966,503
66$2,542,536$983,899$702,842$2,074,098
67$2,733,682$963,918$658,194$2,191,055
68$2,942,177$940,810$609,903$2,318,333
69$3,169,723$914,353$557,779$2,456,989
70$3,418,193$884,315$501,623$2,608,193
71$3,689,649$850,447$441,228$2,773,238
72$3,986,363$812,488$376,378$2,953,549
73$4,310,832$770,161$306,848$3,150,702
74$4,665,810$723,172$232,400$3,366,436
75$5,054,328$671,211$152,790$3,602,671
76$5,479,720$613,952$67,760$3,861,527
77$5,945,664$551,048$0$4,145,345
78$6,456,204$482,131$0$4,460,143
79$7,015,798$406,817$0$4,816,364
80$7,629,354$324,696$0$5,207,068
81$8,302,278$235,336$0$5,635,776
82$9,040,524$138,281$0$6,106,370
83$9,850,651$33,050$0$6,623,132
84$10,739,882$0$0$7,190,786
85$11,716,176$0$0$7,836,785
86$12,788,298$0$0$8,556,256
87$13,965,904$0$0$9,346,598
88$15,259,632$0$0$10,214,958
89$16,681,200$0$0$11,169,214
90$18,243,518$0$0$12,218,042
91$19,960,808$0$0$13,371,002
92$21,848,741$0$0$14,638,626
93$23,924,579$0$0$16,032,517
94$26,207,340$0$0$17,565,458
95$28,717,981$0$0$19,251,535
96$31,479,588$0$0$21,106,264
97$34,517,599$0$0$23,146,745
98$37,860,041$0$0$25,391,816
99$41,537,793$0$0$27,862,233
100$45,584,881$0$0$30,580,867