Can I retire at age 53 with 944,000?

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 $944,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$77,955$77,260$76,583$75,922$75,276$73,938
2 years$38,591$37,873$37,176$36,501$35,846$34,502
3 years$25,472$24,750$24,055$23,386$22,742$21,435
4 years$18,914$18,194$17,506$16,849$16,220$14,959
5 years$14,980$14,264$13,586$12,941$12,330$11,119
6 years$12,358$11,648$10,979$10,349$9,756$8,597
7 years$10,486$9,782$9,124$8,509$7,934$6,827
8 years$9,082$8,385$7,738$7,138$6,582$5,526
9 years$7,992$7,301$6,664$6,080$5,543$4,538
10 years$7,119$6,435$5,810$5,241$4,723$3,768
11 years$6,406$5,729$5,115$4,561$4,062$3,156
12 years$5,812$5,142$4,540$4,001$3,520$2,662
13 years$5,310$4,647$4,056$3,532$3,070$2,258
14 years$4,880$4,224$3,644$3,135$2,691$1,924
15 years$4,508$3,858$3,290$2,796$2,369$1,646
16 years$4,182$3,540$2,983$2,504$2,094$1,412
17 years$3,895$3,260$2,714$2,250$1,857$1,215
18 years$3,641$3,013$2,478$2,027$1,651$1,048
19 years$3,413$2,792$2,268$1,832$1,471$906
20 years$3,208$2,595$2,082$1,659$1,314$784
21 years$3,023$2,417$1,915$1,506$1,176$680
22 years$2,856$2,256$1,765$1,369$1,054$590
23 years$2,703$2,110$1,630$1,247$946$513
24 years$2,562$1,977$1,507$1,137$851$446
25 years$2,434$1,855$1,396$1,039$765$388
26 years$2,315$1,744$1,295$950$689$338
27 years$2,206$1,641$1,202$869$622$294
28 years$2,104$1,546$1,118$796$561$257
29 years$2,010$1,459$1,040$730$506$224
30 years$1,922$1,378$969$670$458$195
31 years$1,839$1,302$903$616$414$170
32 years$1,763$1,232$843$566$374$149
33 years$1,691$1,167$787$520$339$130
34 years$1,623$1,106$735$479$307$114
35 years$1,559$1,049$687$441$278$99
36 years$1,499$996$643$406$252$87
37 years$1,443$946$602$374$228$76
38 years$1,389$899$564$345$207$66
39 years$1,339$855$528$318$188$58
40 years$1,291$813$495$293$170$51
41 years$1,245$774$464$270$154$44
42 years$1,202$737$435$250$140$39
43 years$1,161$702$408$230$127$34
44 years$1,122$669$383$213$115$30
45 years$1,084$638$360$196$105$26
46 years$1,049$609$338$181$95$23
47 years$1,015$581$318$168$86$20
48 years$982$555$298$155$78$17
49 years$951$530$281$143$71$15
50 years$922$506$264$132$65$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $944,000, adding $6,210 every year, while hoping to spend $23,639 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: 41/41/18 Blend
52$944,000$944,000$944,000$944,000
53$1,046,694$996,662$982,030$1,083,823
54$1,128,305$1,020,346$989,776$1,134,468
55$1,217,448$1,044,399$996,989$1,186,486
56$1,314,866$1,068,814$1,003,627$1,242,292
57$1,421,378$1,093,581$1,009,645$1,302,245
58$1,537,885$1,118,693$1,014,994$1,366,740
59$1,665,379$1,144,138$1,019,626$1,436,210
60$1,804,952$1,169,905$1,023,487$1,511,135
61$1,957,807$1,195,980$1,026,524$1,592,043
62$2,125,268$1,222,349$1,028,678$1,679,514
63$2,308,796$1,248,994$1,029,889$1,774,189
64$2,509,996$1,275,898$1,030,093$1,876,775
65$2,730,637$1,303,039$1,029,223$1,988,051
66$2,972,670$1,330,396$1,027,210$2,108,873
67$3,238,241$1,357,944$1,023,980$2,240,188
68$3,529,715$1,385,656$1,019,456$2,383,040
69$3,849,695$1,413,502$1,013,558$2,538,576
70$4,201,052$1,441,452$1,006,200$2,708,064
71$4,586,946$1,469,470$997,294$2,892,900
72$5,010,859$1,497,518$986,748$3,094,625
73$5,476,627$1,525,557$974,464$3,314,936
74$5,988,474$1,553,541$960,340$3,555,704
75$6,551,057$1,581,423$944,270$3,818,993
76$7,169,504$1,609,151$926,142$4,107,076
77$7,849,464$1,636,671$905,839$4,422,461
78$8,597,164$1,663,922$883,239$4,767,913
79$9,419,461$1,690,841$858,214$5,146,479
80$10,323,913$1,717,359$830,631$5,561,519
81$11,318,844$1,743,401$800,349$6,016,736
82$12,413,428$1,768,889$767,222$6,516,215
83$13,617,771$1,793,738$731,097$7,064,456
84$14,943,009$1,817,857$691,815$7,666,424
85$16,401,413$1,841,149$649,208$8,327,588
86$18,006,502$1,863,510$603,101$9,053,980
87$19,773,172$1,884,830$553,312$9,852,249
88$21,717,839$1,904,989$499,651$10,729,726
89$23,858,587$1,923,862$441,918$11,694,490
90$26,215,345$1,941,314$379,904$12,755,449
91$28,810,073$1,957,201$313,394$13,922,424
92$31,666,967$1,971,371$242,159$15,206,238
93$34,812,690$1,983,660$165,964$16,618,824
94$38,276,621$1,993,896$84,560$18,173,337
95$42,091,133$2,001,894$0$19,884,275
96$46,291,901$2,007,458$0$21,768,068
97$50,918,231$2,010,381$0$23,859,249
98$56,013,441$2,010,440$0$26,161,037
99$61,625,262$2,007,400$0$28,694,896
100$67,806,289$2,001,013$0$31,484,483