Can I retire at age 53 with 888,000?

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 $888,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.3%
1 years$73,330$72,677$72,040$71,418$70,810$69,267
2 years$36,302$35,626$34,971$34,335$33,719$32,173
3 years$23,961$23,282$22,628$21,999$21,393$19,891
4 years$17,792$17,115$16,468$15,849$15,258$13,811
5 years$14,091$13,418$12,780$12,174$11,599$10,213
6 years$11,625$10,957$10,328$9,735$9,178$7,853
7 years$9,864$9,202$8,582$8,004$7,464$6,201
8 years$8,544$7,887$7,279$6,714$6,192$4,991
9 years$7,517$6,867$6,269$5,719$5,215$4,074
10 years$6,697$6,053$5,466$4,930$4,443$3,362
11 years$6,026$5,389$4,812$4,291$3,821$2,798
12 years$5,467$4,837$4,270$3,763$3,311$2,345
13 years$4,995$4,371$3,815$3,322$2,888$1,975
14 years$4,591$3,973$3,428$2,949$2,531$1,672
15 years$4,240$3,630$3,095$2,630$2,229$1,420
16 years$3,934$3,330$2,806$2,355$1,970$1,210
17 years$3,664$3,067$2,553$2,116$1,746$1,034
18 years$3,425$2,834$2,331$1,907$1,553$885
19 years$3,211$2,626$2,134$1,723$1,384$759
20 years$3,018$2,441$1,958$1,561$1,236$653
21 years$2,844$2,273$1,801$1,416$1,106$561
22 years$2,686$2,122$1,660$1,288$992$483
23 years$2,542$1,985$1,533$1,173$890$417
24 years$2,410$1,860$1,418$1,070$800$360
25 years$2,289$1,745$1,313$977$720$310
26 years$2,178$1,640$1,218$893$649$268
27 years$2,075$1,544$1,131$818$585$232
28 years$1,979$1,454$1,051$749$528$201
29 years$1,890$1,372$978$687$476$173
30 years$1,808$1,296$911$630$430$150
31 years$1,730$1,225$850$579$389$130
32 years$1,658$1,159$793$532$352$113
33 years$1,590$1,098$740$489$319$97
34 years$1,527$1,040$691$450$288$84
35 years$1,467$987$646$414$261$73
36 years$1,410$937$605$382$237$63
37 years$1,357$890$566$352$215$55
38 years$1,307$845$530$324$195$48
39 years$1,259$804$497$299$176$41
40 years$1,214$765$465$276$160$36
41 years$1,171$728$436$254$145$31
42 years$1,131$693$409$235$132$27
43 years$1,092$661$384$217$120$23
44 years$1,055$630$361$200$108$20
45 years$1,020$600$339$185$98$18
46 years$987$573$318$171$89$15
47 years$955$547$299$158$81$13
48 years$924$522$281$146$74$11
49 years$895$498$264$135$67$10
50 years$867$476$248$124$61$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $888,000, adding $6,546 every year, while hoping to spend $59,649 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: 37/37/26 Blend
52$888,000$888,000$888,000$888,000
53$985,328$938,264$924,500$1,013,913
54$1,022,366$920,773$892,005$1,018,028
55$1,061,182$900,426$856,422$1,016,525
56$1,101,895$877,019$817,585$1,013,738
57$1,144,633$850,339$775,319$1,009,589
58$1,189,537$820,157$729,444$1,003,998
59$1,236,758$786,232$679,768$996,883
60$1,286,461$748,311$626,094$988,158
61$1,338,826$706,124$568,214$977,738
62$1,394,048$659,386$505,910$965,532
63$1,452,340$607,795$438,958$951,451
64$1,513,936$551,034$367,120$935,402
65$1,579,087$488,765$290,149$917,292
66$1,648,073$420,633$207,787$897,027
67$1,721,194$346,262$119,766$874,510
68$1,798,782$265,255$25,804$849,650
69$1,881,198$177,192$0$822,350
70$1,968,836$81,631$0$813,177
71$2,062,130$0$0$810,365
72$2,161,553$0$0$815,661
73$2,267,623$0$0$856,841
74$2,380,909$0$0$900,898
75$2,502,032$0$0$948,083
76$2,631,675$0$0$998,673
77$2,770,587$0$0$1,052,970
78$2,919,588$0$0$1,111,308
79$3,079,579$0$0$1,174,050
80$3,251,547$0$0$1,241,597
81$3,436,579$0$0$1,314,390
82$3,635,866$0$0$1,392,912
83$3,850,715$0$0$1,477,693
84$4,082,565$0$0$1,569,317
85$4,332,994$0$0$1,668,425
86$4,603,739$0$0$1,775,721
87$4,896,706$0$0$1,891,981
88$5,213,992$0$0$2,018,056
89$5,557,902$0$0$2,154,884
90$5,930,973$0$0$2,303,494
91$6,335,990$0$0$2,465,019
92$6,776,021$0$0$2,640,707
93$7,254,439$0$0$2,831,930
94$7,774,955$0$0$3,040,196
95$8,341,650$0$0$3,267,166
96$8,959,019$0$0$3,514,669
97$9,632,004$0$0$3,784,717
98$10,366,048$0$0$4,079,523
99$11,167,139$0$0$4,401,525
100$12,041,869$0$0$4,753,407