Can I retire at age 53 with 938,000?

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 $938,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.3%
1 years$77,459$76,769$76,096$75,439$74,797$72,287
2 years$38,346$37,632$36,940$36,269$35,618$33,114
3 years$25,310$24,593$23,903$23,238$22,597$20,178
4 years$18,793$18,078$17,395$16,741$16,117$13,800
5 years$14,884$14,174$13,499$12,859$12,252$10,045
6 years$12,279$11,574$10,909$10,283$9,694$7,598
7 years$10,419$9,720$9,066$8,455$7,884$5,899
8 years$9,025$8,332$7,688$7,092$6,541$4,665
9 years$7,941$7,254$6,622$6,041$5,508$3,739
10 years$7,074$6,394$5,773$5,208$4,693$3,028
11 years$6,365$5,692$5,083$4,532$4,036$2,472
12 years$5,775$5,109$4,511$3,975$3,498$2,031
13 years$5,276$4,617$4,030$3,510$3,050$1,677
14 years$4,849$4,197$3,621$3,115$2,674$1,390
15 years$4,479$3,834$3,269$2,778$2,354$1,156
16 years$4,156$3,518$2,964$2,488$2,081$965
17 years$3,871$3,240$2,697$2,235$1,845$806
18 years$3,618$2,993$2,462$2,014$1,640$675
19 years$3,391$2,774$2,254$1,820$1,462$566
20 years$3,188$2,578$2,069$1,649$1,306$476
21 years$3,004$2,401$1,903$1,496$1,169$400
22 years$2,837$2,242$1,754$1,360$1,048$336
23 years$2,685$2,096$1,619$1,239$940$283
24 years$2,546$1,964$1,497$1,130$845$239
25 years$2,418$1,843$1,387$1,032$761$201
26 years$2,300$1,732$1,286$944$685$170
27 years$2,192$1,630$1,194$864$618$143
28 years$2,091$1,536$1,110$791$557$121
29 years$1,997$1,449$1,033$726$503$102
30 years$1,909$1,369$963$666$455$86
31 years$1,828$1,294$897$612$411$73
32 years$1,751$1,224$837$562$372$61
33 years$1,680$1,159$782$517$337$52
34 years$1,613$1,099$730$476$305$44
35 years$1,549$1,042$683$438$276$37
36 years$1,490$989$639$403$250$31
37 years$1,434$940$598$371$227$26
38 years$1,380$893$560$342$205$22
39 years$1,330$849$525$316$186$19
40 years$1,282$808$492$291$169$16
41 years$1,237$769$461$269$153$13
42 years$1,194$732$432$248$139$11
43 years$1,153$698$406$229$126$10
44 years$1,114$665$381$211$115$8
45 years$1,077$634$358$195$104$7
46 years$1,042$605$336$180$94$6
47 years$1,008$577$316$167$86$5
48 years$976$551$297$154$78$4
49 years$945$526$279$142$71$4
50 years$916$503$262$131$64$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $938,000, adding $5,877 every year, while hoping to spend $51,815 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: 52/21/27 Blend
52$938,000$938,000$938,000$938,000
53$1,039,738$990,024$975,485$1,085,669
54$1,090,661$983,405$953,033$1,111,556
55$1,145,041$974,724$928,092$1,133,971
56$1,203,176$963,827$900,525$1,157,322
57$1,265,394$950,548$870,186$1,181,718
58$1,332,051$934,712$836,925$1,207,283
59$1,403,542$916,135$800,583$1,234,159
60$1,480,297$894,619$760,997$1,262,504
61$1,562,789$869,957$717,992$1,292,493
62$1,651,538$841,929$671,389$1,324,327
63$1,747,114$810,302$620,999$1,358,229
64$1,850,142$774,830$566,625$1,394,447
65$1,961,311$735,251$508,062$1,433,263
66$2,081,377$691,291$445,094$1,474,987
67$2,211,170$642,656$377,497$1,519,970
68$2,351,602$589,040$305,036$1,568,600
69$2,503,678$530,116$227,468$1,621,314
70$2,668,501$465,538$144,535$1,678,597
71$2,847,283$394,945$55,972$1,740,988
72$3,041,358$317,949$0$1,809,091
73$3,252,194$234,147$0$1,894,678
74$3,481,405$143,107$0$2,005,323
75$3,730,766$44,377$0$2,125,801
76$4,002,232$0$0$2,257,124
77$4,297,951$0$0$2,414,861
78$4,620,289$0$0$2,598,060
79$4,971,850$0$0$2,797,958
80$5,355,499$0$0$3,016,195
81$5,774,391$0$0$3,254,576
82$6,231,998$0$0$3,515,090
83$6,732,142$0$0$3,799,926
84$7,279,033$0$0$4,111,493
85$7,877,302$0$0$4,452,445
86$8,532,053$0$0$4,825,705
87$9,248,904$0$0$5,234,488
88$10,034,041$0$0$5,682,340
89$10,894,277$0$0$6,173,161
90$11,837,114$0$0$6,711,249
91$12,870,818$0$0$7,301,338
92$14,004,488$0$0$7,948,640
93$15,248,149$0$0$8,658,899
94$16,612,843$0$0$9,438,437
95$18,110,730$0$0$10,294,223
96$19,755,209$0$0$11,233,931
97$21,561,036$0$0$12,266,014
98$23,544,467$0$0$13,399,786
99$25,723,411$0$0$14,645,505
100$28,117,595$0$0$16,014,475