Can I retire at age 53 with 893,000?

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 $893,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.1%
1 years$73,743$73,086$72,445$71,820$71,209$70,001
2 years$36,506$35,827$35,168$34,529$33,909$32,695
3 years$24,096$23,413$22,756$22,123$21,513$20,332
4 years$17,892$17,211$16,560$15,938$15,343$14,204
5 years$14,170$13,494$12,852$12,242$11,664$10,569
6 years$11,690$11,019$10,386$9,790$9,229$8,180
7 years$9,919$9,253$8,631$8,049$7,506$6,503
8 years$8,592$7,932$7,320$6,752$6,227$5,271
9 years$7,560$6,906$6,304$5,751$5,244$4,333
10 years$6,735$6,087$5,496$4,958$4,468$3,602
11 years$6,060$5,419$4,839$4,315$3,843$3,021
12 years$5,498$4,864$4,294$3,785$3,330$2,551
13 years$5,023$4,396$3,837$3,341$2,904$2,167
14 years$4,616$3,996$3,447$2,966$2,545$1,849
15 years$4,264$3,650$3,112$2,645$2,241$1,584
16 years$3,956$3,349$2,822$2,368$1,981$1,361
17 years$3,685$3,084$2,568$2,128$1,756$1,173
18 years$3,444$2,850$2,344$1,918$1,562$1,013
19 years$3,229$2,641$2,146$1,733$1,392$877
20 years$3,035$2,454$1,969$1,569$1,243$760
21 years$2,860$2,286$1,811$1,424$1,113$660
22 years$2,701$2,134$1,670$1,295$997$574
23 years$2,557$1,996$1,542$1,179$895$499
24 years$2,424$1,870$1,426$1,076$805$435
25 years$2,302$1,755$1,320$982$724$379
26 years$2,190$1,649$1,225$898$652$331
27 years$2,086$1,552$1,137$822$588$288
28 years$1,990$1,463$1,057$753$531$252
29 years$1,901$1,380$984$691$479$220
30 years$1,818$1,303$916$634$433$192
31 years$1,740$1,232$854$582$391$168
32 years$1,667$1,166$797$535$354$147
33 years$1,599$1,104$744$492$320$129
34 years$1,535$1,046$695$453$290$113
35 years$1,475$992$650$417$263$99
36 years$1,418$942$608$384$238$86
37 years$1,365$895$569$354$216$76
38 years$1,314$850$533$326$196$66
39 years$1,266$808$499$301$177$58
40 years$1,221$769$468$277$161$51
41 years$1,178$732$439$256$146$44
42 years$1,137$697$412$236$132$39
43 years$1,098$664$386$218$120$34
44 years$1,061$633$363$201$109$30
45 years$1,026$604$341$186$99$26
46 years$992$576$320$172$90$23
47 years$960$550$300$159$82$20
48 years$929$525$282$147$74$18
49 years$900$501$265$135$67$15
50 years$872$479$250$125$61$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $893,000, adding $3,890 every year, while hoping to spend $21,843 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: 38/46/16 Blend
52$893,000$893,000$893,000$893,000
53$988,099$940,770$926,928$1,020,744
54$1,065,644$963,626$934,739$1,067,355
55$1,150,367$986,871$942,080$1,115,313
56$1,242,976$1,010,500$948,912$1,166,676
57$1,344,253$1,034,508$955,194$1,221,762
58$1,455,056$1,058,888$960,882$1,280,920
59$1,576,332$1,083,634$965,932$1,344,538
60$1,709,124$1,108,738$970,297$1,413,038
61$1,854,579$1,134,191$973,926$1,486,889
62$2,013,961$1,159,980$976,767$1,566,607
63$2,188,661$1,186,096$978,765$1,652,759
64$2,380,213$1,212,523$979,862$1,745,971
65$2,590,305$1,239,247$979,998$1,846,934
66$2,820,796$1,266,250$979,108$1,956,406
67$3,073,736$1,293,515$977,127$2,075,226
68$3,351,380$1,321,020$973,983$2,204,318
69$3,656,213$1,348,742$969,604$2,344,698
70$3,990,973$1,376,657$963,913$2,497,490
71$4,358,677$1,404,738$956,828$2,663,928
72$4,762,646$1,432,954$948,266$2,845,376
73$5,206,540$1,461,274$938,137$3,043,337
74$5,694,393$1,489,661$926,350$3,259,467
75$6,230,644$1,518,078$912,806$3,495,591
76$6,820,189$1,546,483$897,405$3,753,722
77$7,468,420$1,574,832$880,039$4,036,080
78$8,181,276$1,603,076$860,597$4,345,109
79$8,965,302$1,631,163$838,963$4,683,506
80$9,827,709$1,659,036$815,015$5,054,243
81$10,776,442$1,686,635$788,625$5,460,598
82$11,820,255$1,713,896$759,659$5,906,182
83$12,968,791$1,740,748$727,978$6,394,978
84$14,232,679$1,767,115$693,437$6,931,376
85$15,623,627$1,792,919$655,882$7,520,214
86$17,154,538$1,818,072$615,154$8,166,828
87$18,839,626$1,842,483$571,087$8,877,099
88$20,694,555$1,866,053$523,506$9,657,511
89$22,736,586$1,888,676$472,230$10,515,209
90$24,984,737$1,910,239$417,069$11,458,073
91$27,459,963$1,930,624$357,823$12,494,788
92$30,185,356$1,949,701$294,287$13,634,926
93$33,186,360$1,967,334$226,243$14,889,042
94$36,491,012$1,983,377$153,466$16,268,769
95$40,130,208$1,997,675$75,720$17,786,930
96$44,137,991$2,010,063$0$19,457,662
97$48,551,874$2,020,364$0$21,297,785
98$53,413,195$2,028,392$0$23,337,111
99$58,767,506$2,033,948$0$25,581,681
100$64,665,000$2,036,821$0$28,052,410