Can I retire at age 53 with 894,000?

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 $894,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.6%
1 years$73,826$73,168$72,527$71,900$71,289$69,369
2 years$36,547$35,867$35,207$34,567$33,947$32,026
3 years$24,123$23,439$22,781$22,148$21,537$19,676
4 years$17,912$17,230$16,579$15,956$15,361$13,573
5 years$14,186$13,509$12,866$12,256$11,677$9,968
6 years$11,703$11,031$10,398$9,801$9,240$7,611
7 years$9,930$9,264$8,640$8,058$7,514$5,966
8 years$8,601$7,941$7,328$6,760$6,234$4,765
9 years$7,568$6,914$6,311$5,758$5,250$3,859
10 years$6,742$6,094$5,502$4,963$4,473$3,159
11 years$6,067$5,425$4,844$4,320$3,847$2,608
12 years$5,504$4,869$4,299$3,789$3,334$2,166
13 years$5,029$4,401$3,841$3,345$2,907$1,810
14 years$4,622$4,000$3,451$2,969$2,548$1,518
15 years$4,269$3,654$3,116$2,648$2,244$1,278
16 years$3,961$3,353$2,825$2,371$1,983$1,079
17 years$3,689$3,088$2,571$2,130$1,758$913
18 years$3,448$2,853$2,347$1,920$1,563$774
19 years$3,232$2,644$2,148$1,735$1,393$658
20 years$3,038$2,457$1,972$1,571$1,245$560
21 years$2,863$2,289$1,813$1,426$1,114$477
22 years$2,704$2,136$1,671$1,297$998$406
23 years$2,559$1,998$1,543$1,181$896$347
24 years$2,427$1,872$1,427$1,077$806$296
25 years$2,305$1,757$1,322$984$725$253
26 years$2,193$1,651$1,226$899$653$216
27 years$2,089$1,554$1,138$823$589$185
28 years$1,993$1,464$1,058$754$531$158
29 years$1,903$1,381$985$692$480$136
30 years$1,820$1,305$917$635$433$116
31 years$1,742$1,233$855$583$392$99
32 years$1,669$1,167$798$536$354$85
33 years$1,601$1,105$745$493$321$73
34 years$1,537$1,047$696$453$290$62
35 years$1,477$993$651$417$263$54
36 years$1,420$943$609$384$238$46
37 years$1,366$896$570$354$216$39
38 years$1,316$851$534$326$196$34
39 years$1,268$809$500$301$178$29
40 years$1,222$770$469$278$161$25
41 years$1,179$733$439$256$146$21
42 years$1,138$698$412$236$133$18
43 years$1,099$665$387$218$120$16
44 years$1,062$634$363$201$109$13
45 years$1,027$605$341$186$99$11
46 years$993$577$320$172$90$10
47 years$961$550$301$159$82$8
48 years$930$525$283$147$74$7
49 years$901$502$266$136$67$6
50 years$873$479$250$125$61$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $894,000, adding $6,628 every year, while hoping to spend $49,670 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: 62/23/15 Blend
52$894,000$894,000$894,000$894,000
53$992,025$944,643$930,786$1,049,456
54$1,040,363$938,082$909,119$1,082,288
55$1,091,967$929,535$885,061$1,111,886
56$1,147,117$918,851$858,480$1,143,006
57$1,206,121$905,873$829,237$1,175,796
58$1,269,317$890,433$797,188$1,210,425
59$1,337,074$872,350$762,181$1,247,080
60$1,409,798$851,438$724,056$1,285,967
61$1,487,935$827,496$682,650$1,327,317
62$1,571,973$800,313$637,788$1,371,387
63$1,662,450$769,664$589,289$1,418,461
64$1,759,955$735,312$536,965$1,468,855
65$1,865,135$697,007$480,619$1,522,922
66$1,978,703$654,484$420,043$1,581,052
67$2,101,438$607,462$355,022$1,643,677
68$2,234,202$555,644$285,332$1,711,278
69$2,377,937$498,717$210,737$1,784,390
70$2,533,682$436,350$130,993$1,863,602
71$2,702,579$368,193$45,843$1,949,572
72$2,885,884$293,875$0$2,043,027
73$3,084,975$213,007$0$2,151,979
74$3,301,374$125,175$0$2,278,413
75$3,536,749$29,944$0$2,416,021
76$3,792,940$0$0$2,565,947
77$4,071,969$0$0$2,747,969
78$4,376,061$0$0$2,954,661
79$4,707,666$0$0$3,180,117
80$5,069,481$0$0$3,426,178
81$5,464,472$0$0$3,694,870
82$5,895,906$0$0$3,988,425
83$6,367,379$0$0$4,309,298
84$6,882,850$0$0$4,660,192
85$7,446,678$0$0$5,044,085
86$8,063,663$0$0$5,464,254
87$8,739,088$0$0$5,924,310
88$9,478,775$0$0$6,428,226
89$10,289,131$0$0$6,980,380
90$11,177,215$0$0$7,585,593
91$12,150,798$0$0$8,249,173
92$13,218,443$0$0$8,976,970
93$14,389,578$0$0$9,775,422
94$15,674,588$0$0$10,651,625
95$17,084,913$0$0$11,613,392
96$18,633,155$0$0$12,669,332
97$20,333,192$0$0$13,828,926
98$22,200,317$0$0$15,102,619
99$24,251,372$0$0$16,501,918
100$26,504,913$0$0$18,039,499