Can I retire at age 53 with 991,000?

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 $991,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.7%
1 years$81,836$81,107$80,396$79,702$79,024$75,948
2 years$40,513$39,758$39,027$38,318$37,630$34,569
3 years$26,740$25,982$25,253$24,551$23,874$20,924
4 years$19,855$19,100$18,378$17,687$17,027$14,210
5 years$15,725$14,975$14,262$13,586$12,944$10,266
6 years$12,973$12,228$11,526$10,865$10,242$7,706
7 years$11,008$10,269$9,578$8,932$8,330$5,935
8 years$9,535$8,802$8,123$7,493$6,910$4,654
9 years$8,389$7,664$6,996$6,382$5,819$3,699
10 years$7,474$6,755$6,099$5,502$4,958$2,969
11 years$6,725$6,014$5,370$4,788$4,264$2,402
12 years$6,102$5,398$4,766$4,200$3,695$1,955
13 years$5,575$4,878$4,258$3,708$3,222$1,599
14 years$5,123$4,434$3,826$3,291$2,825$1,313
15 years$4,732$4,051$3,454$2,935$2,487$1,081
16 years$4,391$3,716$3,132$2,628$2,198$893
17 years$4,089$3,423$2,850$2,362$1,949$738
18 years$3,822$3,163$2,601$2,128$1,733$612
19 years$3,583$2,931$2,381$1,923$1,545$508
20 years$3,368$2,724$2,186$1,742$1,380$422
21 years$3,174$2,537$2,010$1,581$1,235$351
22 years$2,998$2,368$1,853$1,437$1,107$292
23 years$2,837$2,215$1,711$1,309$993$243
24 years$2,690$2,075$1,582$1,194$893$203
25 years$2,555$1,948$1,465$1,090$804$169
26 years$2,430$1,830$1,359$997$724$141
27 years$2,315$1,723$1,262$912$653$117
28 years$2,209$1,623$1,173$836$589$98
29 years$2,110$1,531$1,092$767$532$82
30 years$2,017$1,446$1,017$704$480$68
31 years$1,931$1,367$948$646$434$57
32 years$1,850$1,294$885$594$393$48
33 years$1,775$1,225$826$546$356$40
34 years$1,704$1,161$772$502$322$33
35 years$1,637$1,101$721$463$292$28
36 years$1,574$1,045$675$426$264$23
37 years$1,515$993$632$392$239$19
38 years$1,458$943$592$362$217$16
39 years$1,405$897$554$334$197$13
40 years$1,355$854$519$308$179$11
41 years$1,307$812$487$284$162$9
42 years$1,262$774$457$262$147$8
43 years$1,219$737$429$242$133$7
44 years$1,177$703$402$223$121$5
45 years$1,138$670$378$206$110$5
46 years$1,101$639$355$190$100$4
47 years$1,065$610$333$176$91$3
48 years$1,031$582$313$163$82$3
49 years$999$556$295$150$75$2
50 years$968$531$277$139$68$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $991,000, adding $6,414 every year, while hoping to spend $40,134 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: 56/37/7 Blend
52$991,000$991,000$991,000$991,000
53$1,098,698$1,046,175$1,030,815$1,158,141
54$1,168,063$1,054,735$1,022,645$1,207,506
55$1,243,158$1,062,370$1,012,856$1,256,208
56$1,324,525$1,068,991$1,001,352$1,308,267
57$1,412,761$1,074,506$988,031$1,364,006
58$1,508,520$1,078,814$972,787$1,423,785
59$1,612,524$1,081,811$955,511$1,488,000
60$1,725,565$1,083,384$936,084$1,557,087
61$1,848,517$1,083,413$914,387$1,631,530
62$1,982,338$1,081,773$890,292$1,711,864
63$2,128,086$1,078,329$863,665$1,798,678
64$2,286,921$1,072,937$834,368$1,892,624
65$2,460,123$1,065,448$802,256$1,994,423
66$2,649,100$1,055,699$767,176$2,104,870
67$2,855,400$1,043,521$728,969$2,224,843
68$3,080,731$1,028,733$687,469$2,355,313
69$3,326,968$1,011,144$642,502$2,497,352
70$3,596,180$990,551$593,887$2,652,145
71$3,890,643$966,740$541,434$2,820,998
72$4,212,861$939,483$484,945$3,005,356
73$4,565,595$908,539$424,213$3,206,814
74$4,951,883$873,655$359,021$3,427,132
75$5,375,071$834,560$289,144$3,668,255
76$5,838,844$790,970$214,347$3,932,329
77$6,347,261$742,582$134,382$4,221,724
78$6,904,791$689,079$48,994$4,539,056
79$7,516,358$630,122$0$4,887,214
80$8,187,384$565,355$0$5,272,532
81$8,923,842$494,402$0$5,699,492
82$9,732,311$416,865$0$6,168,336
83$10,620,039$332,323$0$6,683,374
84$11,595,008$240,332$0$7,249,360
85$12,666,013$140,423$0$7,871,538
86$13,842,743$32,100$0$8,555,697
87$15,135,870$0$0$9,308,219
88$16,557,153$0$0$10,170,818
89$18,119,545$0$0$11,133,524
90$19,837,319$0$0$12,192,071
91$21,726,198$0$0$13,356,163
92$23,803,504$0$0$14,636,488
93$26,088,325$0$0$16,044,823
94$28,601,689$0$0$17,594,144
95$31,366,765$0$0$19,298,747
96$34,409,081$0$0$21,174,384
97$37,756,765$0$0$23,238,412
98$41,440,809$0$0$25,509,955
99$45,495,360$0$0$28,010,083
100$49,958,044$0$0$30,762,016