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%17.5%
1 years$77,707$77,015$76,339$75,680$75,037$72,751
2 years$38,469$37,752$37,058$36,385$35,732$33,449
3 years$25,391$24,672$23,979$23,312$22,670$20,461
4 years$18,854$18,136$17,451$16,795$16,168$14,050
5 years$14,932$14,219$13,542$12,900$12,291$10,270
6 years$12,319$11,611$10,944$10,316$9,725$7,803
7 years$10,453$9,751$9,095$8,482$7,909$6,085
8 years$9,054$8,358$7,713$7,115$6,562$4,835
9 years$7,966$7,277$6,643$6,060$5,526$3,894
10 years$7,097$6,415$5,792$5,224$4,708$3,170
11 years$6,386$5,711$5,099$4,547$4,049$2,601
12 years$5,794$5,125$4,525$3,988$3,509$2,149
13 years$5,293$4,632$4,043$3,521$3,060$1,784
14 years$4,865$4,210$3,633$3,125$2,682$1,487
15 years$4,493$3,846$3,280$2,787$2,362$1,244
16 years$4,169$3,529$2,974$2,496$2,087$1,043
17 years$3,883$3,250$2,706$2,242$1,851$877
18 years$3,629$3,003$2,470$2,021$1,646$739
19 years$3,402$2,783$2,261$1,826$1,467$624
20 years$3,198$2,586$2,075$1,654$1,310$527
21 years$3,014$2,409$1,909$1,501$1,172$446
22 years$2,847$2,249$1,759$1,365$1,051$377
23 years$2,694$2,103$1,624$1,243$943$320
24 years$2,554$1,971$1,502$1,134$848$271
25 years$2,426$1,849$1,391$1,035$763$230
26 years$2,308$1,738$1,290$947$687$195
27 years$2,199$1,636$1,198$866$620$166
28 years$2,097$1,541$1,114$794$559$141
29 years$2,003$1,454$1,037$728$505$120
30 years$1,915$1,373$966$668$456$102
31 years$1,834$1,298$900$614$412$86
32 years$1,757$1,228$840$564$373$73
33 years$1,685$1,163$784$519$338$62
34 years$1,618$1,102$733$477$306$53
35 years$1,554$1,046$685$439$277$45
36 years$1,495$992$641$404$251$38
37 years$1,438$943$600$373$227$33
38 years$1,385$896$562$344$206$28
39 years$1,334$852$526$317$187$24
40 years$1,286$810$493$292$170$20
41 years$1,241$771$463$270$154$17
42 years$1,198$735$434$249$140$15
43 years$1,157$700$407$230$127$12
44 years$1,118$667$382$212$115$11
45 years$1,081$636$359$196$104$9
46 years$1,045$607$337$181$95$8
47 years$1,012$579$317$167$86$7
48 years$979$553$298$154$78$6
49 years$948$528$280$143$71$5
50 years$919$504$263$132$64$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $941,000, adding $4,555 every year, while hoping to spend $31,713 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: 57/29/14 Blend
52$941,000$941,000$941,000$941,000
53$1,041,680$991,807$977,222$1,097,071
54$1,114,190$1,006,664$976,217$1,149,952
55$1,193,032$1,021,185$974,115$1,203,672
56$1,278,819$1,035,321$970,846$1,261,470
57$1,372,226$1,049,020$966,337$1,323,745
58$1,473,994$1,062,222$960,510$1,390,932
59$1,584,939$1,074,869$953,284$1,463,516
60$1,705,960$1,086,894$944,576$1,542,027
61$1,838,044$1,098,228$934,295$1,627,054
62$1,982,280$1,108,797$922,350$1,719,243
63$2,139,866$1,118,521$908,642$1,819,309
64$2,312,120$1,127,317$893,070$1,928,039
65$2,500,495$1,135,095$875,527$2,046,305
66$2,706,590$1,141,758$855,901$2,175,064
67$2,932,164$1,147,206$834,075$2,315,374
68$3,179,156$1,151,330$809,928$2,468,403
69$3,449,700$1,154,016$783,331$2,635,437
70$3,746,147$1,155,141$754,150$2,817,898
71$4,071,086$1,154,575$722,246$3,017,351
72$4,427,368$1,152,180$687,473$3,235,525
73$4,818,134$1,147,810$649,677$3,474,326
74$5,246,841$1,141,311$608,699$3,735,855
75$5,717,300$1,132,516$564,372$4,022,432
76$6,233,707$1,121,252$516,521$4,336,615
77$6,800,685$1,107,334$464,964$4,681,225
78$7,423,326$1,090,564$409,511$5,059,373
79$8,107,238$1,070,735$349,963$5,474,490
80$8,858,602$1,047,626$286,112$5,930,360
81$9,684,224$1,021,005$217,742$6,431,159
82$10,591,604$990,623$144,625$6,981,488
83$11,589,004$956,220$66,526$7,586,424
84$12,685,526$917,518$0$8,251,565
85$13,891,199$874,225$0$8,985,595
86$15,217,069$826,031$0$9,803,578
87$16,675,312$772,607$0$10,703,113
88$18,279,337$713,608$0$11,692,517
89$20,043,921$648,667$0$12,780,961
90$21,985,347$577,397$0$13,978,554
91$24,121,551$499,389$0$15,296,439
92$26,472,300$414,209$0$16,746,899
93$29,059,371$321,402$0$18,343,475
94$31,906,760$220,485$0$20,101,094
95$35,040,909$110,947$0$22,036,206
96$38,490,949$0$0$24,166,950
97$42,288,984$0$0$26,515,789
98$46,470,385$0$0$29,140,794
99$51,074,128$0$0$32,031,042
100$56,143,162$0$0$35,213,510