Can I retire at age 53 with 940,000?

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 $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%19.3%
1 years$77,624$76,933$76,258$75,600$74,957$72,154
2 years$38,428$37,712$37,019$36,346$35,694$32,902
3 years$25,364$24,645$23,953$23,287$22,646$19,953
4 years$18,834$18,117$17,432$16,777$16,151$13,578
5 years$14,916$14,204$13,528$12,886$12,278$9,830
6 years$12,305$11,599$10,933$10,305$9,715$7,396
7 years$10,441$9,740$9,085$8,473$7,901$5,709
8 years$9,044$8,349$7,705$7,108$6,555$4,488
9 years$7,958$7,270$6,636$6,054$5,520$3,575
10 years$7,089$6,408$5,786$5,219$4,703$2,877
11 years$6,379$5,704$5,094$4,542$4,045$2,334
12 years$5,788$5,120$4,520$3,984$3,505$1,905
13 years$5,288$4,627$4,039$3,517$3,057$1,562
14 years$4,859$4,206$3,629$3,122$2,679$1,286
15 years$4,489$3,842$3,276$2,784$2,359$1,062
16 years$4,165$3,525$2,970$2,493$2,085$879
17 years$3,879$3,246$2,703$2,240$1,849$730
18 years$3,625$3,000$2,467$2,019$1,644$606
19 years$3,399$2,780$2,259$1,824$1,465$505
20 years$3,195$2,584$2,073$1,652$1,309$421
21 years$3,011$2,406$1,907$1,499$1,171$351
22 years$2,843$2,246$1,757$1,363$1,050$293
23 years$2,691$2,101$1,623$1,242$942$245
24 years$2,552$1,968$1,501$1,132$847$205
25 years$2,423$1,847$1,390$1,034$762$171
26 years$2,305$1,736$1,289$946$687$143
27 years$2,196$1,634$1,197$865$619$120
28 years$2,095$1,540$1,113$793$559$100
29 years$2,001$1,452$1,036$727$504$84
30 years$1,913$1,372$965$667$456$70
31 years$1,832$1,297$899$613$412$59
32 years$1,755$1,227$839$563$373$49
33 years$1,683$1,162$783$518$337$41
34 years$1,616$1,101$732$477$305$35
35 years$1,553$1,045$684$439$277$29
36 years$1,493$991$640$404$251$24
37 years$1,437$942$599$372$227$20
38 years$1,383$895$561$343$206$17
39 years$1,333$851$526$316$187$14
40 years$1,285$810$493$292$169$12
41 years$1,240$771$462$269$154$10
42 years$1,197$734$433$248$139$8
43 years$1,156$699$407$229$127$7
44 years$1,117$667$382$212$115$6
45 years$1,080$636$358$196$104$5
46 years$1,044$606$337$181$95$4
47 years$1,011$579$316$167$86$3
48 years$978$552$297$154$78$3
49 years$947$528$279$143$71$2
50 years$918$504$263$132$64$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $940,000, adding $3,561 every year, while hoping to spend $48,683 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: 88/5/7 Blend
52$940,000$940,000$940,000$940,000
53$1,039,553$989,733$975,163$1,130,229
54$1,093,789$986,432$956,033$1,186,513
55$1,151,926$981,337$934,630$1,241,231
56$1,214,309$974,309$910,827$1,299,796
57$1,281,320$965,201$884,491$1,362,561
58$1,353,374$953,857$855,481$1,429,913
59$1,430,932$940,109$823,653$1,502,275
60$1,514,494$923,782$788,853$1,580,117
61$1,604,615$904,689$750,922$1,663,953
62$1,701,901$882,634$709,693$1,754,349
63$1,807,019$857,407$664,991$1,851,929
64$1,920,701$828,787$616,635$1,957,378
65$2,043,755$796,539$564,435$2,071,453
66$2,177,065$760,417$508,190$2,194,985
67$2,321,605$720,157$447,694$2,328,890
68$2,478,447$675,482$382,730$2,474,177
69$2,648,767$626,100$313,070$2,631,955
70$2,833,862$571,699$238,479$2,803,449
71$3,035,157$511,953$158,709$2,990,006
72$3,254,219$446,516$73,502$3,193,108
73$3,492,775$375,020$0$3,414,392
74$3,752,721$297,079$0$3,656,960
75$4,036,148$212,286$0$3,927,436
76$4,345,355$120,208$0$4,222,533
77$4,682,874$20,390$0$4,544,681
78$5,051,489$0$0$4,896,556
79$5,454,268$0$0$5,285,930
80$5,894,588$0$0$5,712,827
81$6,376,166$0$0$6,179,732
82$6,903,095$0$0$6,690,613
83$7,479,883$0$0$7,249,841
84$8,111,493$0$0$7,862,229
85$8,803,389$0$0$8,533,078
86$9,561,591$0$0$9,268,223
87$10,392,728$0$0$10,074,093
88$11,304,101$0$0$10,957,768
89$12,303,749$0$0$11,927,046
90$13,400,531$0$0$12,990,515
91$14,604,202$0$0$14,157,636
92$15,925,506$0$0$15,438,828
93$17,376,281$0$0$16,845,572
94$18,969,566$0$0$18,390,510
95$20,719,725$0$0$20,087,574
96$22,642,580$0$0$21,952,106
97$24,755,564$0$0$24,001,012
98$27,077,881$0$0$26,252,915
99$29,630,688$0$0$28,728,332
100$32,437,293$0$0$31,449,866