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%13.9%
1 years$77,955$77,260$76,583$75,922$75,276$74,059
2 years$38,591$37,873$37,176$36,501$35,846$34,623
3 years$25,472$24,750$24,055$23,386$22,742$21,552
4 years$18,914$18,194$17,506$16,849$16,220$15,071
5 years$14,980$14,264$13,586$12,941$12,330$11,226
6 years$12,358$11,648$10,979$10,349$9,756$8,699
7 years$10,486$9,782$9,124$8,509$7,934$6,923
8 years$9,082$8,385$7,738$7,138$6,582$5,617
9 years$7,992$7,301$6,664$6,080$5,543$4,624
10 years$7,119$6,435$5,810$5,241$4,723$3,849
11 years$6,406$5,729$5,115$4,561$4,062$3,231
12 years$5,812$5,142$4,540$4,001$3,520$2,732
13 years$5,310$4,647$4,056$3,532$3,070$2,324
14 years$4,880$4,224$3,644$3,135$2,691$1,985
15 years$4,508$3,858$3,290$2,796$2,369$1,703
16 years$4,182$3,540$2,983$2,504$2,094$1,466
17 years$3,895$3,260$2,714$2,250$1,857$1,265
18 years$3,641$3,013$2,478$2,027$1,651$1,094
19 years$3,413$2,792$2,268$1,832$1,471$948
20 years$3,208$2,595$2,082$1,659$1,314$823
21 years$3,023$2,417$1,915$1,506$1,176$716
22 years$2,856$2,256$1,765$1,369$1,054$623
23 years$2,703$2,110$1,630$1,247$946$543
24 years$2,562$1,977$1,507$1,137$851$474
25 years$2,434$1,855$1,396$1,039$765$414
26 years$2,315$1,744$1,295$950$689$361
27 years$2,206$1,641$1,202$869$622$316
28 years$2,104$1,546$1,118$796$561$276
29 years$2,010$1,459$1,040$730$506$242
30 years$1,922$1,378$969$670$458$212
31 years$1,839$1,302$903$616$414$185
32 years$1,763$1,232$843$566$374$162
33 years$1,691$1,167$787$520$339$142
34 years$1,623$1,106$735$479$307$125
35 years$1,559$1,049$687$441$278$109
36 years$1,499$996$643$406$252$96
37 years$1,443$946$602$374$228$84
38 years$1,389$899$564$345$207$74
39 years$1,339$855$528$318$188$65
40 years$1,291$813$495$293$170$57
41 years$1,245$774$464$270$154$50
42 years$1,202$737$435$250$140$44
43 years$1,161$702$408$230$127$38
44 years$1,122$669$383$213$115$34
45 years$1,084$638$360$196$105$30
46 years$1,049$609$338$181$95$26
47 years$1,015$581$318$168$86$23
48 years$982$555$298$155$78$20
49 years$951$530$281$143$71$18
50 years$922$506$264$132$65$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $944,000, adding $6,364 every year, while hoping to spend $44,843 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: 44/34/22 Blend
52$944,000$944,000$944,000$944,000
53$1,046,852$996,820$982,188$1,085,992
54$1,105,919$997,952$967,379$1,115,408
55$1,169,507$997,636$950,571$1,142,410
56$1,238,031$995,754$931,649$1,170,770
57$1,311,945$992,181$910,494$1,200,635
58$1,391,749$986,784$886,981$1,232,173
59$1,477,991$979,420$860,979$1,265,569
60$1,571,276$969,941$832,351$1,301,031
61$1,672,264$958,187$800,954$1,338,792
62$1,781,687$943,989$766,637$1,379,112
63$1,900,344$927,170$729,245$1,422,278
64$2,029,117$907,540$688,613$1,468,615
65$2,168,976$884,898$644,570$1,518,481
66$2,320,987$859,033$596,938$1,572,279
67$2,486,321$829,720$545,530$1,630,453
68$2,666,271$796,721$490,150$1,693,501
69$2,862,256$759,785$430,595$1,761,975
70$3,075,837$718,646$366,651$1,836,490
71$3,308,736$673,023$298,097$1,917,729
72$3,562,843$622,618$224,700$2,006,450
73$3,840,244$567,116$146,217$2,103,497
74$4,143,229$506,185$62,396$2,209,806
75$4,474,325$439,475$0$2,326,415
76$4,836,309$366,612$0$2,460,827
77$5,232,243$287,206$0$2,624,016
78$5,665,494$200,842$0$2,802,802
79$6,139,774$107,082$0$2,998,829
80$6,659,166$5,465$0$3,213,912
81$7,228,170$0$0$3,450,058
82$7,851,741$0$0$3,748,581
83$8,535,334$0$0$4,078,197
84$9,284,959$0$0$4,439,772
85$10,107,235$0$0$4,836,514
86$11,009,452$0$0$5,271,956
87$11,999,641$0$0$5,749,991
88$13,086,646$0$0$6,274,903
89$14,280,212$0$0$6,851,417
90$15,591,072$0$0$7,484,734
91$17,031,049$0$0$8,180,586
92$18,613,168$0$0$8,945,285
93$20,351,780$0$0$9,785,787
94$22,262,693$0$0$10,709,756
95$24,363,322$0$0$11,725,632
96$26,672,855$0$0$12,842,717
97$29,212,431$0$0$14,071,259
98$32,005,341$0$0$15,422,547
99$35,077,245$0$0$16,909,021
100$38,456,415$0$0$18,544,388