Can I retire at age 53 with 880,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $880,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$72,670$72,022$71,391$70,774$70,172$69,643
2 years$35,975$35,305$34,656$34,026$33,415$32,881
3 years$23,745$23,072$22,425$21,801$21,200$20,678
4 years$17,631$16,961$16,319$15,706$15,120$14,614
5 years$13,964$13,297$12,664$12,064$11,494$11,006
6 years$11,520$10,858$10,235$9,648$9,095$8,625
7 years$9,775$9,119$8,505$7,932$7,397$6,945
8 years$8,467$7,816$7,213$6,654$6,136$5,704
9 years$7,450$6,806$6,213$5,668$5,168$4,753
10 years$6,637$5,999$5,416$4,886$4,403$4,007
11 years$5,972$5,340$4,768$4,252$3,787$3,409
12 years$5,418$4,793$4,232$3,729$3,281$2,921
13 years$4,950$4,332$3,781$3,293$2,862$2,518
14 years$4,549$3,937$3,397$2,923$2,508$2,182
15 years$4,202$3,597$3,067$2,607$2,209$1,898
16 years$3,899$3,300$2,781$2,334$1,952$1,658
17 years$3,631$3,039$2,530$2,097$1,731$1,452
18 years$3,394$2,808$2,310$1,890$1,539$1,275
19 years$3,182$2,603$2,115$1,708$1,372$1,122
20 years$2,991$2,419$1,941$1,547$1,225$989
21 years$2,818$2,253$1,785$1,404$1,096$874
22 years$2,662$2,103$1,645$1,276$983$773
23 years$2,519$1,967$1,519$1,162$882$684
24 years$2,389$1,843$1,405$1,060$793$607
25 years$2,269$1,729$1,301$968$714$539
26 years$2,158$1,625$1,207$885$643$478
27 years$2,056$1,530$1,121$810$579$425
28 years$1,961$1,441$1,042$742$523$378
29 years$1,873$1,360$969$681$472$337
30 years$1,791$1,284$903$625$427$300
31 years$1,715$1,214$842$574$386$267
32 years$1,643$1,149$785$527$349$238
33 years$1,576$1,088$733$485$316$212
34 years$1,513$1,031$685$446$286$190
35 years$1,454$978$641$411$259$169
36 years$1,398$928$599$378$235$151
37 years$1,345$882$561$349$213$135
38 years$1,295$838$525$321$193$120
39 years$1,248$797$492$296$175$107
40 years$1,203$758$461$273$159$96
41 years$1,161$721$433$252$144$86
42 years$1,120$687$406$233$131$77
43 years$1,082$655$381$215$118$68
44 years$1,046$624$357$198$108$61
45 years$1,011$595$336$183$98$55
46 years$978$568$315$169$89$49
47 years$946$542$296$156$80$44
48 years$916$517$278$144$73$39
49 years$887$494$262$133$66$35
50 years$859$472$246$123$60$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $880,000, adding $5,428 every year, while hoping to spend $55,224 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: 37/33/30 Blend
52$880,000$880,000$880,000$880,000
53$975,359$928,719$915,079$1,002,550
54$1,016,088$915,468$886,976$1,009,972
55$1,059,120$899,717$856,081$1,012,605
56$1,104,632$881,286$822,242$1,014,412
57$1,152,817$859,981$785,300$1,015,356
58$1,203,886$835,602$745,089$1,015,402
59$1,258,068$807,932$701,435$1,014,515
60$1,315,616$776,746$654,158$1,012,664
61$1,376,804$741,802$603,068$1,009,818
62$1,441,934$702,845$547,966$1,005,951
63$1,511,335$659,608$488,646$1,001,041
64$1,585,368$611,806$424,893$995,069
65$1,664,428$559,137$356,479$988,023
66$1,748,949$501,285$283,171$979,896
67$1,839,406$437,912$204,721$970,689
68$1,936,320$368,663$120,874$960,413
69$2,040,261$293,165$31,360$949,088
70$2,151,857$211,019$0$936,745
71$2,271,796$121,809$0$943,970
72$2,400,833$25,091$0$962,331
73$2,539,797$0$0$981,956
74$2,689,599$0$0$1,031,948
75$2,851,239$0$0$1,095,817
76$3,025,816$0$0$1,164,897
77$3,214,539$0$0$1,239,678
78$3,418,734$0$0$1,320,699
79$3,639,860$0$0$1,408,554
80$3,879,523$0$0$1,503,893
81$4,139,485$0$0$1,607,435
82$4,421,688$0$0$1,719,968
83$4,728,265$0$0$1,842,359
84$5,061,563$0$0$1,975,563
85$5,424,164$0$0$2,120,631
86$5,818,909$0$0$2,278,717
87$6,248,925$0$0$2,451,095
88$6,717,653$0$0$2,639,163
89$7,228,877$0$0$2,844,463
90$7,786,766$0$0$3,068,691
91$8,395,907$0$0$3,313,714
92$9,061,350$0$0$3,581,589
93$9,788,653$0$0$3,874,577
94$10,583,936$0$0$4,195,171
95$11,453,940$0$0$4,546,116
96$12,406,082$0$0$4,930,433
97$13,448,534$0$0$5,351,450
98$14,590,293$0$0$5,812,831
99$15,841,266$0$0$6,318,612
100$17,212,365$0$0$6,873,238