Can I retire at age 53 with 998,000?

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 $998,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17%
1 years$82,414$81,680$80,964$80,265$79,582$77,313
2 years$40,799$40,039$39,303$38,589$37,896$35,628
3 years$26,929$26,166$25,431$24,724$24,043$21,847
4 years$19,996$19,235$18,508$17,812$17,148$15,040
5 years$15,837$15,080$14,363$13,682$13,035$11,022
6 years$13,065$12,314$11,607$10,941$10,314$8,397
7 years$11,086$10,341$9,646$8,995$8,388$6,568
8 years$9,602$8,865$8,180$7,546$6,959$5,233
9 years$8,449$7,718$7,046$6,428$5,860$4,228
10 years$7,527$6,803$6,143$5,541$4,993$3,453
11 years$6,773$6,056$5,408$4,822$4,294$2,842
12 years$6,145$5,436$4,799$4,230$3,722$2,355
13 years$5,614$4,913$4,288$3,734$3,245$1,962
14 years$5,159$4,465$3,853$3,315$2,845$1,641
15 years$4,766$4,079$3,478$2,956$2,505$1,378
16 years$4,422$3,743$3,154$2,647$2,214$1,160
17 years$4,118$3,447$2,870$2,378$1,963$979
18 years$3,849$3,185$2,620$2,143$1,745$828
19 years$3,608$2,952$2,398$1,937$1,556$701
20 years$3,392$2,743$2,201$1,754$1,389$595
21 years$3,196$2,555$2,024$1,592$1,243$505
22 years$3,019$2,385$1,866$1,447$1,115$429
23 years$2,857$2,231$1,723$1,318$1,000$365
24 years$2,709$2,090$1,593$1,202$899$311
25 years$2,573$1,961$1,476$1,098$809$265
26 years$2,448$1,843$1,369$1,004$729$226
27 years$2,332$1,735$1,271$919$657$192
28 years$2,224$1,635$1,181$842$593$164
29 years$2,124$1,542$1,099$772$535$140
30 years$2,031$1,456$1,024$709$484$119
31 years$1,945$1,377$955$651$437$102
32 years$1,863$1,303$891$598$396$87
33 years$1,787$1,234$832$550$358$74
34 years$1,716$1,169$777$506$324$63
35 years$1,648$1,109$727$466$294$54
36 years$1,585$1,053$680$429$266$46
37 years$1,525$1,000$636$395$241$40
38 years$1,469$950$596$364$219$34
39 years$1,415$903$558$336$198$29
40 years$1,364$860$523$310$180$25
41 years$1,316$818$491$286$163$21
42 years$1,271$779$460$264$148$18
43 years$1,227$742$432$244$134$15
44 years$1,186$708$405$225$122$13
45 years$1,146$675$381$208$111$11
46 years$1,109$644$357$192$101$10
47 years$1,073$614$336$177$91$8
48 years$1,039$587$316$164$83$7
49 years$1,006$560$297$151$75$6
50 years$974$535$279$140$68$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $998,000, adding $6,142 every year, while hoping to spend $26,102 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: 40/48/12 Blend
52$998,000$998,000$998,000$998,000
53$1,106,131$1,053,237$1,037,768$1,146,180
54$1,191,185$1,077,074$1,044,761$1,198,872
55$1,284,038$1,101,203$1,051,114$1,252,799
56$1,385,461$1,125,613$1,056,777$1,310,560
57$1,496,297$1,150,287$1,061,698$1,372,515
58$1,617,479$1,175,211$1,065,825$1,439,059
59$1,750,031$1,200,365$1,069,099$1,510,628
60$1,895,082$1,225,731$1,071,461$1,587,701
61$2,053,874$1,251,286$1,072,849$1,670,808
62$2,227,776$1,277,005$1,073,196$1,760,532
63$2,418,295$1,302,864$1,072,434$1,857,515
64$2,627,090$1,328,834$1,070,490$1,962,466
65$2,855,990$1,354,883$1,067,288$2,076,165
66$3,107,006$1,380,978$1,062,747$2,199,474
67$3,382,357$1,407,082$1,056,786$2,333,340
68$3,684,485$1,433,157$1,049,315$2,478,810
69$4,016,079$1,459,158$1,040,244$2,637,036
70$4,380,103$1,485,041$1,029,476$2,809,290
71$4,779,820$1,510,754$1,016,910$2,996,973
72$5,218,827$1,536,246$1,002,442$3,201,629
73$5,701,083$1,561,458$985,959$3,424,963
74$6,230,952$1,586,328$967,347$3,668,851
75$6,813,241$1,610,790$946,486$3,935,365
76$7,453,246$1,634,773$923,247$4,226,788
77$8,156,800$1,658,200$897,499$4,545,635
78$8,930,332$1,680,990$869,103$4,894,684
79$9,780,922$1,703,055$837,915$5,276,992
80$10,716,373$1,724,301$803,782$5,695,933
81$11,745,280$1,744,629$766,546$6,155,227
82$12,877,115$1,763,933$726,041$6,658,974
83$14,122,313$1,782,097$682,095$7,211,696
84$15,492,369$1,799,001$634,527$7,818,376
85$16,999,954$1,814,515$583,146$8,484,510
86$18,659,024$1,828,501$527,756$9,216,157
87$20,484,959$1,840,812$468,151$10,019,998
88$22,494,705$1,851,292$404,114$10,903,395
89$24,706,934$1,859,774$335,421$11,874,469
90$27,142,221$1,866,082$261,836$12,942,170
91$29,823,234$1,870,027$183,115$14,116,367
92$32,774,955$1,871,409$99,000$15,407,938
93$36,024,908$1,870,016$9,225$16,828,876
94$39,603,424$1,865,623$0$18,392,403
95$43,543,924$1,857,989$0$20,124,181
96$47,883,235$1,846,861$0$22,031,173
97$52,661,938$1,831,970$0$24,129,948
98$57,924,748$1,813,029$0$26,440,073
99$63,720,941$1,789,736$0$28,983,115
100$70,104,814$1,761,770$0$31,782,848