Can I retire at age 53 with 896,000?

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 $896,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$73,991$73,332$72,689$72,061$71,448$70,410
2 years$36,629$35,947$35,286$34,645$34,023$32,979
3 years$24,177$23,492$22,832$22,197$21,586$20,568
4 years$17,952$17,269$16,616$15,992$15,395$14,412
5 years$14,218$13,539$12,895$12,283$11,703$10,758
6 years$11,729$11,056$10,421$9,823$9,260$8,354
7 years$9,953$9,285$8,660$8,076$7,531$6,664
8 years$8,621$7,959$7,344$6,775$6,248$5,419
9 years$7,585$6,929$6,326$5,771$5,261$4,471
10 years$6,757$6,108$5,515$4,974$4,483$3,731
11 years$6,080$5,437$4,855$4,329$3,856$3,140
12 years$5,517$4,880$4,309$3,797$3,341$2,662
13 years$5,040$4,410$3,850$3,352$2,914$2,270
14 years$4,632$4,009$3,459$2,976$2,554$1,945
15 years$4,279$3,662$3,123$2,654$2,249$1,673
16 years$3,970$3,360$2,831$2,376$1,987$1,444
17 years$3,697$3,094$2,576$2,135$1,762$1,249
18 years$3,456$2,859$2,352$1,924$1,567$1,084
19 years$3,239$2,650$2,153$1,739$1,397$942
20 years$3,045$2,463$1,976$1,575$1,247$820
21 years$2,870$2,294$1,818$1,429$1,116$715
22 years$2,710$2,141$1,675$1,299$1,001$625
23 years$2,565$2,003$1,547$1,183$898$546
24 years$2,432$1,876$1,430$1,079$807$478
25 years$2,310$1,761$1,325$986$726$419
26 years$2,197$1,655$1,229$901$654$367
27 years$2,093$1,557$1,141$825$590$322
28 years$1,997$1,468$1,061$756$532$282
29 years$1,907$1,384$987$693$481$248
30 years$1,824$1,308$919$636$434$218
31 years$1,746$1,236$857$584$393$191
32 years$1,673$1,170$800$537$355$168
33 years$1,605$1,108$747$494$321$148
34 years$1,540$1,050$698$454$291$130
35 years$1,480$996$652$418$264$114
36 years$1,423$945$610$385$239$101
37 years$1,369$898$571$355$216$89
38 years$1,319$853$535$327$196$78
39 years$1,271$811$501$302$178$69
40 years$1,225$772$470$278$161$60
41 years$1,182$735$440$257$146$53
42 years$1,141$700$413$237$133$47
43 years$1,102$667$388$219$121$41
44 years$1,065$635$364$202$109$36
45 years$1,029$606$342$186$99$32
46 years$995$578$321$172$90$28
47 years$963$552$301$159$82$25
48 years$932$527$283$147$74$22
49 years$903$503$266$136$68$19
50 years$875$480$250$126$61$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $896,000, adding $3,607 every year, while hoping to spend $53,224 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: 49/40/11 Blend
52$896,000$896,000$896,000$896,000
53$991,113$943,625$929,737$1,036,550
54$1,035,576$933,232$904,253$1,057,724
55$1,082,791$920,547$876,132$1,074,830
56$1,132,982$905,400$845,228$1,092,198
57$1,186,394$887,613$811,392$1,109,868
58$1,243,297$866,996$774,464$1,127,889
59$1,303,984$843,350$734,279$1,146,317
60$1,368,779$816,462$690,665$1,165,216
61$1,438,033$786,108$643,442$1,184,665
62$1,512,136$752,050$592,420$1,204,750
63$1,591,510$714,037$537,403$1,225,573
64$1,676,623$671,803$478,184$1,247,251
65$1,767,984$625,068$414,549$1,269,918
66$1,866,156$573,533$346,274$1,293,727
67$1,971,752$516,885$273,123$1,318,851
68$2,085,450$454,791$194,851$1,345,488
69$2,207,991$386,902$111,204$1,373,864
70$2,340,191$312,845$21,914$1,404,232
71$2,482,946$232,229$0$1,436,881
72$2,637,239$144,641$0$1,480,747
73$2,804,152$49,643$0$1,530,890
74$2,984,875$0$0$1,585,183
75$3,180,715$0$0$1,667,556
76$3,393,109$0$0$1,780,671
77$3,623,638$0$0$1,903,528
78$3,874,040$0$0$2,037,066
79$4,146,229$0$0$2,182,315
80$4,442,307$0$0$2,340,409
81$4,764,590$0$0$2,512,598
82$5,115,624$0$0$2,700,253
83$5,498,213$0$0$2,904,888
84$5,915,441$0$0$3,128,166
85$6,370,704$0$0$3,371,918
86$6,867,737$0$0$3,638,160
87$7,410,656$0$0$3,929,111
88$8,003,988$0$0$4,247,215
89$8,652,719$0$0$4,595,161
90$9,362,340$0$0$4,975,913
91$10,138,893$0$0$5,392,730
92$10,989,035$0$0$5,849,204
93$11,920,095$0$0$6,349,291
94$12,940,144$0$0$6,897,346
95$14,058,070$0$0$7,498,167
96$15,283,662$0$0$8,157,035
97$16,627,702$0$0$8,879,771
98$18,102,065$0$0$9,672,784
99$19,719,831$0$0$10,543,133
100$21,495,406$0$0$11,498,595