Can I retire at age 53 with 942,000?

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 $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%19.1%
1 years$77,789$77,097$76,421$75,761$75,116$72,365
2 years$38,510$37,792$37,097$36,423$35,770$33,028
3 years$25,418$24,698$24,004$23,337$22,694$20,049
4 years$18,874$18,155$17,469$16,813$16,185$13,657
5 years$14,948$14,234$13,557$12,914$12,304$9,898
6 years$12,332$11,623$10,956$10,327$9,736$7,455
7 years$10,464$9,761$9,104$8,491$7,918$5,761
8 years$9,063$8,367$7,721$7,123$6,568$4,534
9 years$7,975$7,285$6,650$6,067$5,532$3,617
10 years$7,104$6,421$5,798$5,230$4,713$2,914
11 years$6,393$5,717$5,104$4,551$4,054$2,367
12 years$5,800$5,131$4,530$3,992$3,513$1,934
13 years$5,299$4,637$4,047$3,525$3,063$1,588
14 years$4,870$4,215$3,636$3,129$2,685$1,310
15 years$4,498$3,850$3,283$2,790$2,364$1,083
16 years$4,173$3,533$2,977$2,498$2,089$898
17 years$3,887$3,253$2,709$2,245$1,853$746
18 years$3,633$3,006$2,473$2,023$1,647$621
19 years$3,406$2,786$2,264$1,828$1,468$518
20 years$3,202$2,589$2,077$1,656$1,312$432
21 years$3,017$2,412$1,911$1,503$1,174$361
22 years$2,850$2,251$1,761$1,366$1,052$302
23 years$2,697$2,105$1,626$1,244$944$253
24 years$2,557$1,973$1,504$1,135$849$211
25 years$2,429$1,851$1,393$1,036$764$177
26 years$2,310$1,740$1,292$948$688$148
27 years$2,201$1,637$1,200$867$620$124
28 years$2,100$1,543$1,115$795$560$104
29 years$2,005$1,456$1,038$729$505$87
30 years$1,918$1,375$967$669$457$73
31 years$1,836$1,299$901$614$413$62
32 years$1,759$1,230$841$564$373$52
33 years$1,687$1,164$785$519$338$43
34 years$1,619$1,104$734$478$306$36
35 years$1,556$1,047$686$440$277$31
36 years$1,496$994$642$405$251$26
37 years$1,440$944$600$373$228$22
38 years$1,386$897$562$344$206$18
39 years$1,336$853$527$317$187$15
40 years$1,288$811$494$292$170$13
41 years$1,242$772$463$270$154$11
42 years$1,199$736$434$249$140$9
43 years$1,158$701$408$230$127$8
44 years$1,119$668$383$212$115$6
45 years$1,082$637$359$196$104$5
46 years$1,047$608$337$181$95$4
47 years$1,013$580$317$167$86$4
48 years$980$554$298$155$78$3
49 years$949$529$280$143$71$3
50 years$920$505$263$132$65$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $942,000, adding $2,660 every year, while hoping to spend $42,201 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: 69/6/25 Blend
52$942,000$942,000$942,000$942,000
53$1,040,828$990,902$976,301$1,105,820
54$1,102,091$994,554$964,105$1,153,374
55$1,168,188$996,972$950,087$1,200,279
56$1,239,568$998,048$934,140$1,250,621
57$1,316,724$997,673$916,154$1,304,742
58$1,400,198$995,727$896,013$1,363,014
59$1,490,585$992,084$873,596$1,425,852
60$1,588,540$986,611$848,776$1,493,712
61$1,694,782$979,167$821,422$1,567,100
62$1,810,104$969,600$791,393$1,646,571
63$1,935,376$957,751$758,546$1,732,741
64$2,071,556$943,453$722,729$1,826,288
65$2,219,697$926,525$683,784$1,927,961
66$2,380,960$906,778$641,544$2,038,588
67$2,556,619$884,011$595,837$2,159,081
68$2,748,079$858,012$546,482$2,290,447
69$2,956,884$828,556$493,290$2,433,799
70$3,184,735$795,404$436,064$2,590,364
71$3,433,503$758,304$374,598$2,761,496
72$3,705,250$716,991$308,676$2,948,690
73$4,002,243$671,181$238,074$3,153,595
74$4,326,980$620,576$162,557$3,378,029
75$4,682,209$564,862$81,881$3,624,002
76$5,070,960$503,706$0$3,893,729
77$5,496,564$436,754$0$4,190,777
78$5,962,694$363,635$0$4,540,101
79$6,473,391$283,956$0$4,922,884
80$7,033,109$197,302$0$5,342,485
81$7,646,750$103,233$0$5,802,605
82$8,319,715$1,288$0$6,307,320
83$9,057,951$0$0$6,861,122
84$9,868,010$0$0$7,476,157
85$10,757,110$0$0$8,151,351
86$11,733,198$0$0$8,892,662
87$12,805,032$0$0$9,706,749
88$13,982,256$0$0$10,600,944
89$15,275,497$0$0$11,583,326
90$16,696,461$0$0$12,662,795
91$18,258,044$0$0$13,849,156
92$19,974,452$0$0$15,153,210
93$21,861,338$0$0$16,586,859
94$23,935,945$0$0$18,163,213
95$26,217,271$0$0$19,896,716
96$28,726,248$0$0$21,803,283
97$31,485,938$0$0$23,900,449
98$34,521,749$0$0$26,207,533
99$37,861,676$0$0$28,745,820
100$41,536,565$0$0$31,538,764