Can I retire at age 53 with 941,000?

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 $941,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.1%
1 years$77,707$77,015$76,339$75,680$75,037$72,577
2 years$38,469$37,752$37,058$36,385$35,732$33,277
3 years$25,391$24,672$23,979$23,312$22,670$20,297
4 years$18,854$18,136$17,451$16,795$16,168$13,896
5 years$14,932$14,219$13,542$12,900$12,291$10,125
6 years$12,319$11,611$10,944$10,316$9,725$7,667
7 years$10,453$9,751$9,095$8,482$7,909$5,959
8 years$9,054$8,358$7,713$7,115$6,562$4,718
9 years$7,966$7,277$6,643$6,060$5,526$3,786
10 years$7,097$6,415$5,792$5,224$4,708$3,070
11 years$6,386$5,711$5,099$4,547$4,049$2,510
12 years$5,794$5,125$4,525$3,988$3,509$2,065
13 years$5,293$4,632$4,043$3,521$3,060$1,707
14 years$4,865$4,210$3,633$3,125$2,682$1,417
15 years$4,493$3,846$3,280$2,787$2,362$1,181
16 years$4,169$3,529$2,974$2,496$2,087$986
17 years$3,883$3,250$2,706$2,242$1,851$825
18 years$3,629$3,003$2,470$2,021$1,646$692
19 years$3,402$2,783$2,261$1,826$1,467$581
20 years$3,198$2,586$2,075$1,654$1,310$489
21 years$3,014$2,409$1,909$1,501$1,172$412
22 years$2,847$2,249$1,759$1,365$1,051$347
23 years$2,694$2,103$1,624$1,243$943$293
24 years$2,554$1,971$1,502$1,134$848$247
25 years$2,426$1,849$1,391$1,035$763$208
26 years$2,308$1,738$1,290$947$687$176
27 years$2,199$1,636$1,198$866$620$149
28 years$2,097$1,541$1,114$794$559$126
29 years$2,003$1,454$1,037$728$505$106
30 years$1,915$1,373$966$668$456$90
31 years$1,834$1,298$900$614$412$76
32 years$1,757$1,228$840$564$373$64
33 years$1,685$1,163$784$519$338$54
34 years$1,618$1,102$733$477$306$46
35 years$1,554$1,046$685$439$277$39
36 years$1,495$992$641$404$251$33
37 years$1,438$943$600$373$227$28
38 years$1,385$896$562$344$206$24
39 years$1,334$852$526$317$187$20
40 years$1,286$810$493$292$170$17
41 years$1,241$771$463$270$154$14
42 years$1,198$735$434$249$140$12
43 years$1,157$700$407$230$127$10
44 years$1,118$667$382$212$115$9
45 years$1,081$636$359$196$104$7
46 years$1,045$607$337$181$95$6
47 years$1,012$579$317$167$86$5
48 years$979$553$298$154$78$4
49 years$948$528$280$143$71$4
50 years$919$504$263$132$64$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $941,000, adding $2,986 every year, while hoping to spend $31,544 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: 37/46/17 Blend
52$941,000$941,000$941,000$941,000
53$1,040,062$990,189$975,604$1,073,086
54$1,112,586$1,005,146$974,724$1,112,137
55$1,191,450$1,019,778$972,757$1,151,078
56$1,277,267$1,034,037$969,634$1,192,473
57$1,370,713$1,047,870$965,282$1,236,559
58$1,472,531$1,061,220$959,623$1,283,598
59$1,583,536$1,074,027$952,578$1,333,881
60$1,704,630$1,086,227$944,063$1,387,728
61$1,836,802$1,097,752$933,988$1,445,495
62$1,981,142$1,108,528$922,263$1,507,575
63$2,138,850$1,118,477$908,790$1,574,402
64$2,311,246$1,127,516$893,468$1,646,456
65$2,499,785$1,135,556$876,191$1,724,271
66$2,706,068$1,142,503$856,848$1,808,432
67$2,931,858$1,148,257$835,324$1,899,592
68$3,179,096$1,152,710$811,496$1,998,467
69$3,449,920$1,155,750$785,237$2,105,854
70$3,746,685$1,157,255$756,416$2,222,631
71$4,071,984$1,157,097$724,893$2,349,768
72$4,428,672$1,155,140$690,522$2,488,339
73$4,819,894$1,151,240$653,152$2,639,530
74$5,249,115$1,145,242$612,625$2,804,652
75$5,720,151$1,136,986$568,774$2,985,153
76$6,237,205$1,126,296$521,427$3,182,634
77$6,804,907$1,112,992$470,401$3,398,862
78$7,428,356$1,096,877$415,509$3,635,789
79$8,113,172$1,077,748$356,552$3,895,574
80$8,865,544$1,055,386$293,325$4,180,598
81$9,692,290$1,029,560$225,611$4,493,493
82$10,600,921$1,000,026$153,187$4,837,163
83$11,599,713$966,526$75,817$5,214,818
84$12,697,784$928,785$0$5,630,000
85$13,905,176$886,514$0$6,087,844
86$15,232,958$839,407$0$6,606,199
87$16,693,321$787,140$0$7,176,114
88$18,299,700$729,369$0$7,802,899
89$20,066,894$665,733$0$8,492,415
90$22,011,211$595,848$0$9,251,125
91$24,150,620$519,310$0$10,086,161
92$26,504,918$435,691$0$11,005,387
93$29,095,919$344,539$0$12,017,481
94$31,947,659$245,377$0$13,132,010
95$35,086,620$137,701$0$14,359,531
96$38,541,985$20,978$0$15,711,684
97$42,345,908$0$0$17,201,309
98$46,533,818$0$0$18,895,893
99$51,144,758$0$0$20,773,507
100$56,221,745$0$0$22,841,069