Can I retire at age 53 with 944,000?

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 $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%20%
1 years$77,955$77,260$76,583$75,922$75,276$72,261
2 years$38,591$37,873$37,176$36,501$35,846$32,846
3 years$25,472$24,750$24,055$23,386$22,742$19,852
4 years$18,914$18,194$17,506$16,849$16,220$13,461
5 years$14,980$14,264$13,586$12,941$12,330$9,710
6 years$12,358$11,648$10,979$10,349$9,756$7,277
7 years$10,486$9,782$9,124$8,509$7,934$5,595
8 years$9,082$8,385$7,738$7,138$6,582$4,380
9 years$7,992$7,301$6,664$6,080$5,543$3,474
10 years$7,119$6,435$5,810$5,241$4,723$2,784
11 years$6,406$5,729$5,115$4,561$4,062$2,248
12 years$5,812$5,142$4,540$4,001$3,520$1,826
13 years$5,310$4,647$4,056$3,532$3,070$1,490
14 years$4,880$4,224$3,644$3,135$2,691$1,221
15 years$4,508$3,858$3,290$2,796$2,369$1,003
16 years$4,182$3,540$2,983$2,504$2,094$826
17 years$3,895$3,260$2,714$2,250$1,857$682
18 years$3,641$3,013$2,478$2,027$1,651$564
19 years$3,413$2,792$2,268$1,832$1,471$467
20 years$3,208$2,595$2,082$1,659$1,314$387
21 years$3,023$2,417$1,915$1,506$1,176$321
22 years$2,856$2,256$1,765$1,369$1,054$267
23 years$2,703$2,110$1,630$1,247$946$221
24 years$2,562$1,977$1,507$1,137$851$184
25 years$2,434$1,855$1,396$1,039$765$153
26 years$2,315$1,744$1,295$950$689$127
27 years$2,206$1,641$1,202$869$622$106
28 years$2,104$1,546$1,118$796$561$88
29 years$2,010$1,459$1,040$730$506$73
30 years$1,922$1,378$969$670$458$61
31 years$1,839$1,302$903$616$414$51
32 years$1,763$1,232$843$566$374$42
33 years$1,691$1,167$787$520$339$35
34 years$1,623$1,106$735$479$307$29
35 years$1,559$1,049$687$441$278$25
36 years$1,499$996$643$406$252$20
37 years$1,443$946$602$374$228$17
38 years$1,389$899$564$345$207$14
39 years$1,339$855$528$318$188$12
40 years$1,291$813$495$293$170$10
41 years$1,245$774$464$270$154$8
42 years$1,202$737$435$250$140$7
43 years$1,161$702$408$230$127$6
44 years$1,122$669$383$213$115$5
45 years$1,084$638$360$196$105$4
46 years$1,049$609$338$181$95$3
47 years$1,015$581$318$168$86$3
48 years$982$555$298$155$78$2
49 years$951$530$281$143$71$2
50 years$922$506$264$132$65$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $944,000, adding $2,420 every year, while hoping to spend $46,610 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: 64/24/12 Blend
52$944,000$944,000$944,000$944,000
53$1,042,784$992,752$978,120$1,106,494
54$1,099,556$991,804$961,295$1,148,431
55$1,160,555$989,248$942,343$1,188,586
56$1,226,166$984,955$921,145$1,231,280
57$1,296,806$978,789$897,575$1,276,761
58$1,372,938$970,607$871,501$1,325,300
59$1,455,066$960,256$842,785$1,377,199
60$1,543,747$947,573$811,283$1,432,792
61$1,639,592$932,386$776,844$1,492,448
62$1,743,272$914,515$739,310$1,556,575
63$1,855,526$893,766$698,516$1,625,624
64$1,977,164$869,935$654,291$1,700,096
65$2,109,079$842,806$606,454$1,780,543
66$2,252,252$812,151$554,818$1,867,577
67$2,407,763$777,727$499,185$1,961,873
68$2,576,797$739,278$439,350$2,064,178
69$2,760,662$696,534$375,099$2,175,320
70$2,960,793$649,208$306,209$2,296,211
71$3,178,771$596,997$232,445$2,427,862
72$3,416,337$539,581$153,562$2,571,389
73$3,675,404$476,621$69,308$2,728,025
74$3,958,080$407,760$0$2,899,135
75$4,266,685$332,621$0$3,088,862
76$4,603,770$250,803$0$3,305,874
77$4,972,148$161,885$0$3,543,165
78$5,374,912$65,423$0$3,802,804
79$5,815,470$0$0$4,087,076
80$6,297,573$0$0$4,408,816
81$6,825,351$0$0$4,780,016
82$7,403,353$0$0$5,186,606
83$8,036,589$0$0$5,632,118
84$8,730,575$0$0$6,120,440
85$9,491,387$0$0$6,655,858
86$10,325,716$0$0$7,243,089
87$11,240,931$0$0$7,887,330
88$12,245,152$0$0$8,594,306
89$13,347,318$0$0$9,370,320
90$14,557,281$0$0$10,222,319
91$15,885,888$0$0$11,157,953
92$17,345,092$0$0$12,185,650
93$18,948,058$0$0$13,314,694
94$20,709,290$0$0$14,555,313
95$22,644,767$0$0$15,918,774
96$24,772,091$0$0$17,417,491
97$27,110,656$0$0$19,065,140
98$29,681,825$0$0$20,876,788
99$32,509,140$0$0$22,869,034
100$35,618,533$0$0$25,060,168