Can I retire at age 53 with 988,000?

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 $988,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$81,588$80,861$80,152$79,460$78,785$76,942
2 years$40,390$39,638$38,909$38,202$37,516$35,671
3 years$26,659$25,904$25,177$24,476$23,802$22,011
4 years$19,795$19,042$18,322$17,634$16,976$15,253
5 years$15,678$14,929$14,219$13,545$12,905$11,255
6 years$12,934$12,191$11,491$10,832$10,211$8,636
7 years$10,975$10,238$9,549$8,905$8,304$6,804
8 years$9,506$8,776$8,098$7,470$6,889$5,463
9 years$8,364$7,641$6,975$6,363$5,802$4,449
10 years$7,451$6,735$6,081$5,485$4,943$3,662
11 years$6,705$5,996$5,354$4,774$4,251$3,040
12 years$6,083$5,382$4,751$4,187$3,684$2,541
13 years$5,558$4,863$4,245$3,697$3,213$2,135
14 years$5,108$4,421$3,814$3,281$2,816$1,802
15 years$4,718$4,038$3,444$2,926$2,480$1,527
16 years$4,377$3,705$3,122$2,620$2,192$1,297
17 years$4,077$3,412$2,841$2,354$1,943$1,105
18 years$3,810$3,153$2,593$2,122$1,728$943
19 years$3,572$2,922$2,374$1,917$1,540$807
20 years$3,358$2,715$2,179$1,736$1,376$691
21 years$3,164$2,529$2,004$1,576$1,231$593
22 years$2,989$2,361$1,847$1,433$1,103$509
23 years$2,829$2,208$1,706$1,305$990$437
24 years$2,682$2,069$1,577$1,190$890$376
25 years$2,547$1,942$1,461$1,087$801$324
26 years$2,423$1,825$1,355$994$722$279
27 years$2,308$1,717$1,258$910$651$240
28 years$2,202$1,618$1,170$833$587$207
29 years$2,103$1,527$1,088$764$530$179
30 years$2,011$1,442$1,014$701$479$154
31 years$1,925$1,363$945$644$433$133
32 years$1,845$1,290$882$592$392$115
33 years$1,769$1,221$823$544$354$99
34 years$1,699$1,158$769$501$321$85
35 years$1,632$1,098$719$461$291$74
36 years$1,569$1,042$673$425$263$64
37 years$1,510$990$630$391$239$55
38 years$1,454$941$590$361$216$48
39 years$1,401$894$553$333$196$41
40 years$1,351$851$518$307$178$35
41 years$1,303$810$486$283$161$31
42 years$1,258$771$456$261$147$26
43 years$1,215$735$427$241$133$23
44 years$1,174$701$401$223$121$20
45 years$1,135$668$377$206$110$17
46 years$1,098$637$354$190$100$15
47 years$1,062$608$332$175$90$13
48 years$1,028$581$312$162$82$11
49 years$996$554$294$150$75$10
50 years$965$530$276$138$68$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $988,000, adding $5,550 every year, while hoping to spend $59,221 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: 52/21/27 Blend
52$988,000$988,000$988,000$988,000
53$1,094,501$1,042,137$1,026,823$1,142,881
54$1,143,129$1,030,191$998,211$1,165,106
55$1,194,733$1,015,675$966,655$1,182,817
56$1,249,553$998,400$931,995$1,200,902
57$1,307,852$978,167$894,062$1,219,421
58$1,369,920$954,764$852,680$1,238,443
59$1,436,072$927,967$807,665$1,258,049
60$1,506,653$897,540$758,824$1,278,331
61$1,582,043$863,230$705,956$1,299,395
62$1,662,657$824,774$648,851$1,321,362
63$1,748,950$781,889$587,289$1,344,369
64$1,841,420$734,280$521,040$1,368,574
65$1,940,616$681,630$449,866$1,394,154
66$2,047,138$623,609$373,516$1,421,311
67$2,161,646$559,866$291,728$1,450,273
68$2,284,862$490,028$204,230$1,481,295
69$2,417,583$413,704$110,737$1,514,669
70$2,560,681$330,480$10,951$1,550,721
71$2,715,115$239,918$0$1,589,816
72$2,881,938$141,556$0$1,659,891
73$3,062,309$34,904$0$1,739,039
74$3,257,499$0$0$1,824,718
75$3,468,908$0$0$1,936,222
76$3,698,073$0$0$2,065,918
77$3,946,687$0$0$2,206,707
78$4,216,609$0$0$2,359,653
79$4,509,884$0$0$2,525,928
80$4,828,764$0$0$2,706,819
81$5,175,724$0$0$2,903,743
82$5,553,489$0$0$3,118,259
83$5,965,055$0$0$3,352,084
84$6,413,722$0$0$3,607,105
85$6,903,121$0$0$3,885,401
86$7,437,246$0$0$4,189,260
87$8,020,498$0$0$4,521,200
88$8,657,719$0$0$4,883,995
89$9,354,238$0$0$5,280,695
90$10,115,925$0$0$5,714,663
91$10,949,242$0$0$6,189,599
92$11,861,305$0$0$6,709,578
93$12,859,948$0$0$7,279,087
94$13,953,800$0$0$7,903,067
95$15,152,362$0$0$8,586,961
96$16,466,098$0$0$9,336,762
97$17,906,534$0$0$10,159,071
98$19,486,362$0$0$11,061,160
99$21,219,564$0$0$12,051,037
100$23,121,538$0$0$13,137,523