Can I retire at age 53 with 942,000?

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 $942,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.9%
1 years$77,789$77,097$76,421$75,761$75,116$73,902
2 years$38,510$37,792$37,097$36,423$35,770$34,550
3 years$25,418$24,698$24,004$23,337$22,694$21,506
4 years$18,874$18,155$17,469$16,813$16,185$15,039
5 years$14,948$14,234$13,557$12,914$12,304$11,202
6 years$12,332$11,623$10,956$10,327$9,736$8,680
7 years$10,464$9,761$9,104$8,491$7,918$6,908
8 years$9,063$8,367$7,721$7,123$6,568$5,605
9 years$7,975$7,285$6,650$6,067$5,532$4,614
10 years$7,104$6,421$5,798$5,230$4,713$3,840
11 years$6,393$5,717$5,104$4,551$4,054$3,225
12 years$5,800$5,131$4,530$3,992$3,513$2,727
13 years$5,299$4,637$4,047$3,525$3,063$2,319
14 years$4,870$4,215$3,636$3,129$2,685$1,981
15 years$4,498$3,850$3,283$2,790$2,364$1,699
16 years$4,173$3,533$2,977$2,498$2,089$1,463
17 years$3,887$3,253$2,709$2,245$1,853$1,262
18 years$3,633$3,006$2,473$2,023$1,647$1,092
19 years$3,406$2,786$2,264$1,828$1,468$946
20 years$3,202$2,589$2,077$1,656$1,312$822
21 years$3,017$2,412$1,911$1,503$1,174$714
22 years$2,850$2,251$1,761$1,366$1,052$622
23 years$2,697$2,105$1,626$1,244$944$542
24 years$2,557$1,973$1,504$1,135$849$473
25 years$2,429$1,851$1,393$1,036$764$413
26 years$2,310$1,740$1,292$948$688$361
27 years$2,201$1,637$1,200$867$620$315
28 years$2,100$1,543$1,115$795$560$276
29 years$2,005$1,456$1,038$729$505$241
30 years$1,918$1,375$967$669$457$211
31 years$1,836$1,299$901$614$413$185
32 years$1,759$1,230$841$564$373$162
33 years$1,687$1,164$785$519$338$142
34 years$1,619$1,104$734$478$306$124
35 years$1,556$1,047$686$440$277$109
36 years$1,496$994$642$405$251$96
37 years$1,440$944$600$373$228$84
38 years$1,386$897$562$344$206$74
39 years$1,336$853$527$317$187$65
40 years$1,288$811$494$292$170$57
41 years$1,242$772$463$270$154$50
42 years$1,199$736$434$249$140$44
43 years$1,158$701$408$230$127$38
44 years$1,119$668$383$212$115$34
45 years$1,082$637$359$196$104$29
46 years$1,047$608$337$181$95$26
47 years$1,013$580$317$167$86$23
48 years$980$554$298$155$78$20
49 years$949$529$280$143$71$17
50 years$920$505$263$132$65$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $942,000, adding $5,923 every year, while hoping to spend $37,066 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: 58/19/23 Blend
52$942,000$942,000$942,000$942,000
53$1,044,194$994,268$979,667$1,097,980
54$1,111,263$1,003,549$973,047$1,144,595
55$1,183,932$1,012,042$964,964$1,190,908
56$1,262,731$1,019,671$955,329$1,240,601
57$1,348,247$1,026,351$944,049$1,294,010
58$1,441,121$1,031,996$931,028$1,351,505
59$1,542,062$1,036,510$916,164$1,413,496
60$1,651,848$1,039,795$899,352$1,480,436
61$1,771,337$1,041,745$880,480$1,552,825
62$1,901,469$1,042,246$859,432$1,631,214
63$2,043,283$1,041,181$836,087$1,716,216
64$2,197,920$1,038,420$810,317$1,808,503
65$2,366,635$1,033,831$781,991$1,908,820
66$2,550,812$1,027,269$750,968$2,017,990
67$2,751,973$1,018,583$717,103$2,136,920
68$2,971,793$1,007,612$680,245$2,266,614
69$3,212,117$994,186$640,234$2,408,179
70$3,474,976$978,124$596,905$2,562,837
71$3,762,606$959,235$550,084$2,731,940
72$4,077,469$937,315$499,589$2,916,976
73$4,422,277$912,150$445,232$3,119,593
74$4,800,017$883,512$386,814$3,341,605
75$5,213,976$851,161$324,130$3,585,019
76$5,667,776$814,842$256,962$3,852,046
77$6,165,405$774,286$185,087$4,145,130
78$6,711,258$729,208$108,269$4,466,966
79$7,310,172$679,305$26,262$4,820,528
80$7,967,479$624,260$0$5,209,099
81$8,689,048$563,735$0$5,651,332
82$9,481,347$497,374$0$6,144,048
83$10,351,500$424,801$0$6,685,273
84$11,307,355$345,619$0$7,279,942
85$12,357,558$259,406$0$7,933,497
86$13,511,632$165,720$0$8,651,938
87$14,780,069$64,092$0$9,441,876
88$16,174,431$0$0$10,310,600
89$17,707,451$0$0$11,275,759
90$19,393,161$0$0$12,351,870
91$21,247,020$0$0$13,535,413
92$23,286,058$0$0$14,837,272
93$25,529,041$0$0$16,269,441
94$27,996,644$0$0$17,845,131
95$30,711,648$0$0$19,578,903
96$33,699,151$0$0$21,486,797
97$36,986,809$0$0$23,586,488
98$40,605,095$0$0$25,897,450
99$44,587,583$0$0$28,441,142
100$48,971,269$0$0$31,241,209