Can I retire at age 53 with 923,000?

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 $923,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$76,220$75,542$74,879$74,233$73,601$72,742
2 years$37,733$37,030$36,349$35,689$35,048$34,183
3 years$24,905$24,200$23,520$22,866$22,236$21,392
4 years$18,493$17,789$17,117$16,474$15,859$15,043
5 years$14,646$13,947$13,283$12,653$12,056$11,270
6 years$12,083$11,389$10,735$10,119$9,539$8,784
7 years$10,253$9,564$8,921$8,319$7,758$7,035
8 years$8,880$8,198$7,565$6,979$6,436$5,744
9 years$7,814$7,138$6,516$5,945$5,420$4,759
10 years$6,961$6,292$5,681$5,124$4,618$3,988
11 years$6,264$5,601$5,001$4,460$3,972$3,371
12 years$5,683$5,027$4,439$3,912$3,442$2,871
13 years$5,192$4,543$3,966$3,453$3,001$2,459
14 years$4,772$4,130$3,563$3,066$2,631$2,117
15 years$4,407$3,773$3,217$2,734$2,317$1,829
16 years$4,089$3,461$2,917$2,448$2,047$1,586
17 years$3,809$3,188$2,654$2,199$1,815$1,380
18 years$3,560$2,946$2,423$1,982$1,614$1,203
19 years$3,337$2,730$2,218$1,791$1,439$1,051
20 years$3,137$2,537$2,036$1,622$1,285$920
21 years$2,956$2,363$1,872$1,472$1,150$806
22 years$2,792$2,206$1,726$1,339$1,031$708
23 years$2,642$2,063$1,593$1,219$925$622
24 years$2,505$1,933$1,474$1,112$832$548
25 years$2,380$1,814$1,365$1,015$748$482
26 years$2,264$1,705$1,266$928$674$425
27 years$2,157$1,604$1,175$850$608$375
28 years$2,057$1,512$1,093$779$548$331
29 years$1,965$1,426$1,017$714$495$292
30 years$1,879$1,347$947$655$447$258
31 years$1,799$1,273$883$602$405$228
32 years$1,723$1,205$824$553$366$202
33 years$1,653$1,141$769$509$331$178
34 years$1,587$1,081$719$468$300$158
35 years$1,525$1,026$672$431$272$140
36 years$1,466$973$629$397$246$123
37 years$1,411$925$588$366$223$109
38 years$1,358$879$551$337$202$97
39 years$1,309$836$516$311$183$86
40 years$1,262$795$484$287$166$76
41 years$1,217$757$454$264$151$67
42 years$1,175$721$426$244$137$60
43 years$1,135$687$399$225$124$53
44 years$1,097$655$375$208$113$47
45 years$1,060$624$352$192$102$41
46 years$1,025$595$331$177$93$37
47 years$992$568$311$164$84$33
48 years$961$542$292$151$77$29
49 years$930$518$274$140$70$26
50 years$901$495$258$129$63$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $923,000, adding $2,993 every year, while hoping to spend $44,332 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: 63/22/15 Blend
52$923,000$923,000$923,000$923,000
53$1,020,233$971,314$957,008$1,080,580
54$1,077,128$971,740$941,899$1,121,860
55$1,138,341$970,700$924,798$1,161,585
56$1,204,264$968,077$905,591$1,203,893
57$1,275,331$963,745$884,160$1,249,036
58$1,352,015$957,569$860,380$1,297,294
59$1,434,840$949,409$834,122$1,348,976
60$1,524,377$939,114$805,249$1,404,426
61$1,621,258$926,525$773,619$1,464,021
62$1,726,175$911,473$739,084$1,528,180
63$1,839,888$893,779$701,487$1,597,368
64$1,963,237$873,254$660,666$1,672,096
65$2,097,140$849,697$616,452$1,752,931
66$2,242,613$822,896$568,667$1,840,501
67$2,400,767$792,626$517,125$1,935,498
68$2,572,829$758,649$461,633$2,038,688
69$2,760,149$720,713$401,989$2,150,919
70$2,964,208$678,552$337,980$2,273,126
71$3,186,642$631,886$269,386$2,406,345
72$3,429,246$580,415$195,978$2,551,718
73$3,694,000$523,825$117,513$2,710,510
74$3,983,079$461,785$33,742$2,884,116
75$4,298,882$393,941$0$3,074,080
76$4,644,047$319,923$0$3,291,013
77$5,021,480$239,339$0$3,534,231
78$5,434,378$151,774$0$3,800,455
79$5,886,264$56,790$0$4,092,026
80$6,381,016$0$0$4,411,532
81$6,922,905$0$0$4,772,978
82$7,516,635$0$0$5,184,131
83$8,167,383$0$0$5,634,837
84$8,880,856$0$0$6,129,056
85$9,663,335$0$0$6,671,149
86$10,521,742$0$0$7,265,918
87$11,463,697$0$0$7,918,654
88$12,497,597$0$0$8,635,185
89$13,632,689$0$0$9,421,931
90$14,879,162$0$0$10,285,962
91$16,248,237$0$0$11,235,068
92$17,752,277$0$0$12,277,832
93$19,404,900$0$0$13,423,706
94$21,221,111$0$0$14,683,106
95$23,217,438$0$0$16,067,505
96$25,412,091$0$0$17,589,544
97$27,825,132$0$0$19,263,152
98$30,478,666$0$0$21,103,670
99$33,397,044$0$0$23,128,005
100$36,607,098$0$0$25,354,783