Can I retire at age 53 with 893,000?

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 $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%12.7%
1 years$73,743$73,086$72,445$71,820$71,209$70,407
2 years$36,506$35,827$35,168$34,529$33,909$33,101
3 years$24,096$23,413$22,756$22,123$21,513$20,725
4 years$17,892$17,211$16,560$15,938$15,343$14,581
5 years$14,170$13,494$12,852$12,242$11,664$10,930
6 years$11,690$11,019$10,386$9,790$9,229$8,524
7 years$9,919$9,253$8,631$8,049$7,506$6,830
8 years$8,592$7,932$7,320$6,752$6,227$5,580
9 years$7,560$6,906$6,304$5,751$5,244$4,626
10 years$6,735$6,087$5,496$4,958$4,468$3,878
11 years$6,060$5,419$4,839$4,315$3,843$3,281
12 years$5,498$4,864$4,294$3,785$3,330$2,796
13 years$5,023$4,396$3,837$3,341$2,904$2,396
14 years$4,616$3,996$3,447$2,966$2,545$2,064
15 years$4,264$3,650$3,112$2,645$2,241$1,785
16 years$3,956$3,349$2,822$2,368$1,981$1,549
17 years$3,685$3,084$2,568$2,128$1,756$1,348
18 years$3,444$2,850$2,344$1,918$1,562$1,176
19 years$3,229$2,641$2,146$1,733$1,392$1,028
20 years$3,035$2,454$1,969$1,569$1,243$901
21 years$2,860$2,286$1,811$1,424$1,113$790
22 years$2,701$2,134$1,670$1,295$997$694
23 years$2,557$1,996$1,542$1,179$895$611
24 years$2,424$1,870$1,426$1,076$805$538
25 years$2,302$1,755$1,320$982$724$474
26 years$2,190$1,649$1,225$898$652$418
27 years$2,086$1,552$1,137$822$588$369
28 years$1,990$1,463$1,057$753$531$326
29 years$1,901$1,380$984$691$479$288
30 years$1,818$1,303$916$634$433$255
31 years$1,740$1,232$854$582$391$225
32 years$1,667$1,166$797$535$354$199
33 years$1,599$1,104$744$492$320$176
34 years$1,535$1,046$695$453$290$156
35 years$1,475$992$650$417$263$138
36 years$1,418$942$608$384$238$122
37 years$1,365$895$569$354$216$109
38 years$1,314$850$533$326$196$96
39 years$1,266$808$499$301$177$85
40 years$1,221$769$468$277$161$76
41 years$1,178$732$439$256$146$67
42 years$1,137$697$412$236$132$59
43 years$1,098$664$386$218$120$53
44 years$1,061$633$363$201$109$47
45 years$1,026$604$341$186$99$41
46 years$992$576$320$172$90$37
47 years$960$550$300$159$82$33
48 years$929$525$282$147$74$29
49 years$900$501$265$135$67$26
50 years$872$479$250$125$61$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $893,000, adding $4,562 every year, while hoping to spend $42,251 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: 45/49/6 Blend
52$893,000$893,000$893,000$893,000
53$988,792$941,463$927,621$1,031,446
54$1,044,694$942,640$913,742$1,062,484
55$1,104,882$942,458$897,981$1,091,363
56$1,169,748$940,807$880,232$1,121,686
57$1,239,724$937,568$860,382$1,153,600
58$1,315,284$932,617$838,312$1,187,268
59$1,396,947$925,820$813,900$1,222,872
60$1,485,287$917,036$787,017$1,260,617
61$1,580,931$906,116$757,527$1,300,728
62$1,684,572$892,901$725,290$1,343,458
63$1,796,970$877,225$690,158$1,389,090
64$1,918,959$858,908$651,978$1,437,937
65$2,051,461$837,762$610,587$1,490,348
66$2,195,486$813,589$565,818$1,546,712
67$2,352,148$786,176$517,494$1,607,461
68$2,522,669$755,301$465,433$1,673,076
69$2,708,398$720,727$409,441$1,744,093
70$2,910,816$682,204$349,319$1,821,105
71$3,131,554$639,468$284,856$1,904,772
72$3,372,409$592,238$215,835$1,995,828
73$3,635,357$540,219$142,028$2,095,087
74$3,922,572$483,099$63,194$2,203,452
75$4,236,450$420,546$0$2,321,925
76$4,579,628$352,213$0$2,452,960
77$4,955,008$277,729$0$2,600,853
78$5,365,787$196,706$0$2,762,941
79$5,815,484$108,732$0$2,940,756
80$6,307,976$13,373$0$3,135,997
81$6,847,531$0$0$3,350,546
82$7,438,848$0$0$3,634,920
83$8,087,105$0$0$3,954,690
84$8,798,004$0$0$4,305,470
85$9,577,823$0$0$4,690,372
86$10,433,481$0$0$5,112,826
87$11,372,595$0$0$5,576,607
88$12,403,558$0$0$6,085,875
89$13,535,615$0$0$6,645,213
90$14,778,949$0$0$7,259,668
91$16,144,777$0$0$7,934,802
92$17,645,460$0$0$8,676,742
93$19,294,609$0$0$9,492,236
94$21,107,226$0$0$10,388,719
95$23,099,833$0$0$11,374,385
96$25,290,636$0$0$12,458,258
97$27,699,692$0$0$13,650,283
98$30,349,097$0$0$14,961,414
99$33,263,199$0$0$16,403,723
100$36,468,822$0$0$17,990,510