Can I retire at age 53 with 916,000?

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 $916,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.9%
1 years$75,642$74,969$74,311$73,670$73,043$70,705
2 years$37,447$36,749$36,073$35,418$34,782$32,448
3 years$24,717$24,016$23,342$22,693$22,067$19,811
4 years$18,353$17,654$16,987$16,349$15,739$13,576
5 years$14,535$13,841$13,183$12,557$11,964$9,902
6 years$11,991$11,302$10,653$10,042$9,467$7,507
7 years$10,175$9,492$8,853$8,256$7,699$5,841
8 years$8,813$8,136$7,508$6,926$6,387$4,630
9 years$7,755$7,084$6,467$5,899$5,379$3,721
10 years$6,908$6,244$5,638$5,085$4,583$3,021
11 years$6,216$5,559$4,963$4,426$3,942$2,473
12 years$5,640$4,989$4,405$3,882$3,416$2,037
13 years$5,153$4,509$3,936$3,427$2,979$1,686
14 years$4,735$4,098$3,536$3,042$2,611$1,402
15 years$4,374$3,744$3,193$2,713$2,299$1,169
16 years$4,058$3,435$2,895$2,429$2,032$978
17 years$3,780$3,164$2,634$2,183$1,802$820
18 years$3,533$2,923$2,404$1,967$1,602$689
19 years$3,312$2,709$2,201$1,777$1,428$579
20 years$3,113$2,518$2,020$1,610$1,275$488
21 years$2,934$2,345$1,858$1,461$1,141$412
22 years$2,771$2,189$1,713$1,328$1,023$347
23 years$2,622$2,047$1,581$1,210$918$293
24 years$2,486$1,918$1,462$1,103$825$248
25 years$2,362$1,800$1,354$1,008$743$210
26 years$2,247$1,692$1,256$921$669$177
27 years$2,140$1,592$1,166$843$603$150
28 years$2,042$1,500$1,084$773$544$127
29 years$1,950$1,415$1,009$709$491$108
30 years$1,865$1,337$940$650$444$91
31 years$1,785$1,264$876$597$401$77
32 years$1,710$1,196$818$549$363$65
33 years$1,640$1,132$763$505$329$55
34 years$1,575$1,073$713$464$298$47
35 years$1,513$1,018$667$428$270$40
36 years$1,455$966$624$394$244$34
37 years$1,400$918$584$363$221$29
38 years$1,348$872$547$334$201$24
39 years$1,299$829$512$308$182$21
40 years$1,252$789$480$284$165$17
41 years$1,208$751$450$262$150$15
42 years$1,166$715$422$242$136$13
43 years$1,126$681$396$224$123$11
44 years$1,088$650$372$206$112$9
45 years$1,052$619$349$191$102$8
46 years$1,018$591$328$176$92$6
47 years$985$564$308$163$84$6
48 years$953$538$290$150$76$5
49 years$923$514$272$139$69$4
50 years$894$491$256$128$63$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $916,000, adding $5,499 every year, while hoping to spend $50,791 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: 54/25/21 Blend
52$916,000$916,000$916,000$916,000
53$1,015,104$966,556$952,358$1,063,821
54$1,064,604$959,876$930,221$1,091,161
55$1,117,450$951,167$905,640$1,115,116
56$1,173,930$940,274$878,479$1,140,106
57$1,234,360$927,037$848,598$1,166,245
58$1,299,086$911,283$815,847$1,193,661
59$1,368,487$892,830$780,072$1,222,499
60$1,442,978$871,484$741,110$1,252,922
61$1,523,018$847,043$698,793$1,285,110
62$1,609,106$819,288$652,943$1,319,267
63$1,701,794$787,992$603,375$1,355,621
64$1,801,685$752,913$549,897$1,394,425
65$1,909,444$713,792$492,306$1,435,964
66$2,025,800$670,361$430,391$1,480,556
67$2,151,555$622,332$363,932$1,528,554
68$2,287,589$569,401$292,699$1,580,354
69$2,434,871$511,249$216,452$1,636,395
70$2,594,464$447,537$134,940$1,697,168
71$2,767,540$377,908$47,901$1,763,219
72$2,955,386$301,982$0$1,835,156
73$3,159,417$219,360$0$1,923,735
74$3,381,191$129,622$0$2,031,736
75$3,622,420$32,321$0$2,149,318
76$3,884,989$0$0$2,277,478
77$4,170,973$0$0$2,437,406
78$4,482,653$0$0$2,621,474
79$4,822,541$0$0$2,822,283
80$5,193,401$0$0$3,041,478
81$5,598,276$0$0$3,280,867
82$6,040,516$0$0$3,542,443
83$6,523,807$0$0$3,828,397
84$7,052,209$0$0$4,141,144
85$7,630,193$0$0$4,483,343
86$8,262,678$0$0$4,857,919
87$8,955,084$0$0$5,268,097
88$9,713,379$0$0$5,717,425
89$10,544,133$0$0$6,209,811
90$11,454,584$0$0$6,749,561
91$12,452,702$0$0$7,341,416
92$13,547,264$0$0$7,990,597
93$14,747,941$0$0$8,702,856
94$16,065,380$0$0$9,484,527
95$17,511,313$0$0$10,342,589
96$19,098,659$0$0$11,284,729
97$20,841,652$0$0$12,319,413
98$22,755,971$0$0$13,455,971
99$24,858,887$0$0$14,704,676
100$27,169,427$0$0$16,076,849