Can I retire at age 53 with 940,000?

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 $940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$77,624$76,933$76,258$75,600$74,957$74,547
2 years$38,428$37,712$37,019$36,346$35,694$35,280
3 years$25,364$24,645$23,953$23,287$22,646$22,241
4 years$18,834$18,117$17,432$16,777$16,151$15,759
5 years$14,916$14,204$13,528$12,886$12,278$11,899
6 years$12,305$11,599$10,933$10,305$9,715$9,350
7 years$10,441$9,740$9,085$8,473$7,901$7,550
8 years$9,044$8,349$7,705$7,108$6,555$6,218
9 years$7,958$7,270$6,636$6,054$5,520$5,197
10 years$7,089$6,408$5,786$5,219$4,703$4,394
11 years$6,379$5,704$5,094$4,542$4,045$3,749
12 years$5,788$5,120$4,520$3,984$3,505$3,223
13 years$5,288$4,627$4,039$3,517$3,057$2,788
14 years$4,859$4,206$3,629$3,122$2,679$2,423
15 years$4,489$3,842$3,276$2,784$2,359$2,115
16 years$4,165$3,525$2,970$2,493$2,085$1,853
17 years$3,879$3,246$2,703$2,240$1,849$1,629
18 years$3,625$3,000$2,467$2,019$1,644$1,435
19 years$3,399$2,780$2,259$1,824$1,465$1,268
20 years$3,195$2,584$2,073$1,652$1,309$1,122
21 years$3,011$2,406$1,907$1,499$1,171$994
22 years$2,843$2,246$1,757$1,363$1,050$883
23 years$2,691$2,101$1,623$1,242$942$785
24 years$2,552$1,968$1,501$1,132$847$699
25 years$2,423$1,847$1,390$1,034$762$622
26 years$2,305$1,736$1,289$946$687$555
27 years$2,196$1,634$1,197$865$619$495
28 years$2,095$1,540$1,113$793$559$442
29 years$2,001$1,452$1,036$727$504$395
30 years$1,913$1,372$965$667$456$354
31 years$1,832$1,297$899$613$412$316
32 years$1,755$1,227$839$563$373$283
33 years$1,683$1,162$783$518$337$254
34 years$1,616$1,101$732$477$305$227
35 years$1,553$1,045$684$439$277$203
36 years$1,493$991$640$404$251$182
37 years$1,437$942$599$372$227$164
38 years$1,383$895$561$343$206$147
39 years$1,333$851$526$316$187$131
40 years$1,285$810$493$292$169$118
41 years$1,240$771$462$269$154$106
42 years$1,197$734$433$248$139$95
43 years$1,156$699$407$229$127$85
44 years$1,117$667$382$212$115$76
45 years$1,080$636$358$196$104$69
46 years$1,044$606$337$181$95$62
47 years$1,011$579$316$167$86$55
48 years$978$552$297$154$78$50
49 years$947$528$279$143$71$45
50 years$918$504$263$132$64$40

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $940,000, adding $6,531 every year, while hoping to spend $34,596 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: 75/13/12 Blend
52$940,000$940,000$940,000$940,000
53$1,042,617$992,797$978,227$1,117,845
54$1,112,154$1,004,634$974,187$1,180,214
55$1,187,624$1,015,892$968,853$1,243,565
56$1,269,596$1,026,505$962,145$1,312,034
57$1,358,696$1,036,404$953,977$1,386,119
58$1,455,611$1,045,517$944,264$1,466,368
59$1,561,099$1,053,762$932,912$1,553,385
60$1,675,993$1,061,058$919,826$1,647,834
61$1,801,209$1,067,315$904,906$1,750,450
62$1,937,757$1,072,438$888,044$1,862,039
63$2,086,746$1,076,326$869,132$1,983,492
64$2,249,400$1,078,871$848,053$2,115,792
65$2,427,063$1,079,960$824,687$2,260,018
66$2,621,217$1,079,472$798,908$2,417,364
67$2,833,492$1,077,277$770,582$2,589,144
68$3,065,684$1,073,239$739,573$2,776,805
69$3,319,770$1,067,214$705,734$2,981,944
70$3,597,926$1,059,047$668,916$3,206,320
71$3,902,549$1,048,575$628,959$3,451,873
72$4,236,279$1,035,625$585,700$3,720,741
73$4,602,024$1,020,015$538,965$4,015,280
74$5,002,984$1,001,550$488,574$4,338,088
75$5,442,686$980,023$434,339$4,692,027
76$5,925,014$955,218$376,063$5,080,255
77$6,454,245$926,904$313,541$5,506,248
78$7,035,092$894,836$246,558$5,973,843
79$7,672,744$858,755$174,891$6,487,266
80$8,372,919$818,389$98,304$7,051,177
81$9,141,915$773,449$16,556$7,670,710
82$9,986,669$723,627$0$8,351,528
83$10,914,825$668,600$0$9,108,920
84$11,934,803$608,027$0$9,943,566
85$13,055,879$541,546$0$10,860,960
86$14,288,271$468,775$0$11,869,496
87$15,643,240$389,310$0$12,978,424
88$17,133,188$302,724$0$14,197,940
89$18,771,783$208,568$0$15,539,275
90$20,574,082$106,364$0$17,014,809
91$22,556,674$0$0$18,638,186
92$24,737,837$0$0$20,425,068
93$27,137,710$0$0$22,407,910
94$29,778,485$0$0$24,589,836
95$32,684,609$0$0$26,991,052
96$35,883,022$0$0$29,633,823
97$39,403,408$0$0$32,542,682
98$43,278,474$0$0$35,744,660
99$47,544,257$0$0$39,269,543
100$52,240,469$0$0$43,150,149