Can I retire at age 53 with 992,000?

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 $992,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.7%
1 years$81,918$81,189$80,477$79,782$79,103$76,327
2 years$40,554$39,798$39,066$38,357$37,668$34,900
3 years$26,767$26,009$25,279$24,576$23,898$21,226
4 years$19,875$19,119$18,396$17,705$17,044$14,488
5 years$15,741$14,990$14,276$13,599$12,957$10,523
6 years$12,986$12,240$11,537$10,876$10,252$7,942
7 years$11,019$10,279$9,588$8,941$8,338$6,152
8 years$9,544$8,811$8,131$7,501$6,917$4,853
9 years$8,398$7,672$7,003$6,389$5,825$3,881
10 years$7,481$6,762$6,106$5,507$4,963$3,135
11 years$6,732$6,020$5,375$4,793$4,269$2,553
12 years$6,108$5,403$4,770$4,204$3,699$2,092
13 years$5,580$4,883$4,262$3,712$3,226$1,722
14 years$5,128$4,439$3,829$3,295$2,828$1,424
15 years$4,737$4,055$3,458$2,938$2,490$1,181
16 years$4,395$3,720$3,135$2,631$2,200$982
17 years$4,093$3,426$2,852$2,364$1,951$819
18 years$3,826$3,166$2,604$2,130$1,735$683
19 years$3,587$2,934$2,384$1,925$1,546$571
20 years$3,371$2,726$2,188$1,743$1,381$478
21 years$3,177$2,540$2,012$1,582$1,236$401
22 years$3,001$2,371$1,855$1,439$1,108$336
23 years$2,840$2,217$1,712$1,310$994$282
24 years$2,693$2,077$1,584$1,195$894$237
25 years$2,558$1,950$1,467$1,091$804$199
26 years$2,433$1,832$1,360$998$725$167
27 years$2,318$1,724$1,263$913$653$141
28 years$2,211$1,625$1,174$837$589$118
29 years$2,112$1,533$1,093$767$532$100
30 years$2,019$1,448$1,018$704$481$84
31 years$1,933$1,368$949$647$435$71
32 years$1,852$1,295$885$594$393$59
33 years$1,777$1,226$827$547$356$50
34 years$1,705$1,162$772$503$322$42
35 years$1,639$1,102$722$463$292$35
36 years$1,576$1,046$676$426$264$30
37 years$1,516$994$632$393$240$25
38 years$1,460$944$592$362$217$21
39 years$1,407$898$555$334$197$18
40 years$1,356$854$520$308$179$15
41 years$1,308$813$488$284$162$13
42 years$1,263$775$457$262$147$11
43 years$1,220$738$429$242$134$9
44 years$1,179$703$403$224$121$8
45 years$1,139$671$378$206$110$6
46 years$1,102$640$355$191$100$5
47 years$1,066$611$334$176$91$5
48 years$1,032$583$314$163$82$4
49 years$1,000$557$295$150$75$3
50 years$969$532$277$139$68$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $992,000, adding $4,341 every year, while hoping to spend $53,313 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: 46/28/26 Blend
52$992,000$992,000$992,000$992,000
53$1,097,662$1,045,086$1,029,710$1,139,772
54$1,152,899$1,039,570$1,007,480$1,164,424
55$1,211,983$1,031,998$982,720$1,185,621
56$1,275,251$1,022,211$955,286$1,207,574
57$1,343,070$1,010,044$925,032$1,230,382
58$1,415,847$995,319$891,804$1,254,156
59$1,494,024$977,850$855,440$1,279,024
60$1,578,088$957,439$815,771$1,305,127
61$1,668,574$933,875$772,621$1,332,630
62$1,766,070$906,936$725,805$1,361,714
63$1,871,221$876,387$675,131$1,392,587
64$1,984,735$841,980$620,398$1,425,479
65$2,107,391$803,450$561,394$1,460,653
66$2,240,044$760,518$497,900$1,498,401
67$2,383,636$712,891$429,687$1,539,051
68$2,539,199$660,255$356,514$1,582,973
69$2,707,872$602,282$278,132$1,630,578
70$2,890,905$538,623$194,279$1,682,328
71$3,089,671$468,910$104,681$1,738,738
72$3,305,685$392,754$9,055$1,800,386
73$3,540,609$309,744$0$1,867,913
74$3,796,275$219,444$0$1,967,835
75$4,074,696$121,398$0$2,079,511
76$4,378,088$15,120$0$2,201,408
77$4,708,892$0$0$2,334,610
78$5,069,791$0$0$2,511,101
79$5,463,740$0$0$2,708,947
80$5,893,993$0$0$2,925,137
81$6,364,129$0$0$3,161,485
82$6,878,091$0$0$3,419,987
83$7,440,218$0$0$3,702,842
84$8,055,291$0$0$4,012,469
85$8,728,570$0$0$4,351,533
86$9,465,851$0$0$4,722,971
87$10,273,513$0$0$5,130,015
88$11,158,585$0$0$5,576,223
89$12,128,805$0$0$6,065,518
90$13,192,697$0$0$6,602,218
91$14,359,648$0$0$7,191,078
92$15,640,000$0$0$7,837,338
93$17,045,140$0$0$8,546,769
94$18,587,616$0$0$9,325,727
95$20,281,246$0$0$10,181,216
96$22,141,254$0$0$11,120,949
97$24,184,410$0$0$12,153,424
98$26,429,186$0$0$13,288,003
99$28,895,936$0$0$14,534,999
100$31,607,080$0$0$15,905,775