Can I retire at age 53 with 945,000?

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 $945,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$78,037$77,342$76,664$76,002$75,356$73,474
2 years$38,632$37,913$37,215$36,539$35,884$34,000
3 years$25,499$24,776$24,081$23,411$22,766$20,939
4 years$18,934$18,213$17,525$16,866$16,237$14,481
5 years$14,996$14,279$13,600$12,955$12,343$10,663
6 years$12,371$11,660$10,991$10,360$9,767$8,164
7 years$10,497$9,792$9,133$8,518$7,943$6,417
8 years$9,092$8,394$7,746$7,145$6,589$5,141
9 years$8,000$7,308$6,671$6,086$5,549$4,176
10 years$7,127$6,442$5,816$5,246$4,728$3,429
11 years$6,413$5,735$5,121$4,566$4,066$2,840
12 years$5,818$5,147$4,544$4,005$3,524$2,367
13 years$5,316$4,652$4,060$3,536$3,073$1,984
14 years$4,885$4,228$3,648$3,139$2,694$1,670
15 years$4,513$3,863$3,294$2,799$2,372$1,411
16 years$4,187$3,544$2,986$2,506$2,096$1,195
17 years$3,900$3,264$2,717$2,252$1,859$1,015
18 years$3,645$3,016$2,481$2,029$1,653$864
19 years$3,417$2,795$2,271$1,834$1,473$737
20 years$3,212$2,597$2,084$1,661$1,316$629
21 years$3,027$2,419$1,917$1,507$1,177$538
22 years$2,859$2,258$1,767$1,370$1,055$461
23 years$2,705$2,112$1,631$1,248$947$395
24 years$2,565$1,979$1,509$1,138$852$338
25 years$2,436$1,857$1,397$1,040$766$290
26 years$2,318$1,745$1,296$951$690$249
27 years$2,208$1,643$1,203$870$622$214
28 years$2,106$1,548$1,119$797$561$184
29 years$2,012$1,460$1,041$731$507$158
30 years$1,924$1,379$970$671$458$136
31 years$1,841$1,304$904$616$414$117
32 years$1,764$1,233$843$566$375$100
33 years$1,692$1,168$788$521$339$86
34 years$1,625$1,107$736$479$307$74
35 years$1,561$1,050$688$441$278$64
36 years$1,501$997$644$406$252$55
37 years$1,444$947$602$374$228$47
38 years$1,391$900$564$345$207$41
39 years$1,340$855$529$318$188$35
40 years$1,292$814$495$293$170$30
41 years$1,246$775$464$271$154$26
42 years$1,203$738$436$250$140$22
43 years$1,162$703$409$231$127$19
44 years$1,123$670$384$213$115$17
45 years$1,085$639$360$197$105$14
46 years$1,050$610$338$182$95$12
47 years$1,016$582$318$168$86$11
48 years$983$555$299$155$78$9
49 years$952$530$281$143$71$8
50 years$923$507$264$132$65$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $945,000, adding $5,371 every year, while hoping to spend $33,487 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: 72/10/18 Blend
52$945,000$945,000$945,000$945,000
53$1,046,930$996,845$982,198$1,117,496
54$1,118,087$1,010,061$979,471$1,178,308
55$1,195,380$1,022,801$975,531$1,240,333
56$1,279,399$1,035,009$970,302$1,307,402
57$1,370,793$1,046,620$963,703$1,380,009
58$1,470,278$1,057,569$955,651$1,458,699
59$1,578,640$1,067,783$946,059$1,544,072
60$1,696,744$1,077,187$934,835$1,636,790
61$1,825,543$1,085,700$921,883$1,737,582
62$1,966,085$1,093,236$907,102$1,847,252
63$2,119,524$1,099,703$890,388$1,966,687
64$2,287,130$1,105,003$871,631$2,096,864
65$2,470,301$1,109,032$850,715$2,238,860
66$2,670,577$1,111,680$827,519$2,393,863
67$2,889,653$1,112,829$801,918$2,563,182
68$3,129,395$1,112,355$773,779$2,748,260
69$3,391,858$1,110,125$742,966$2,950,689
70$3,679,305$1,105,999$709,332$3,172,222
71$3,994,228$1,099,827$672,729$3,414,793
72$4,339,372$1,091,451$632,998$3,680,535
73$4,717,759$1,080,704$589,975$3,971,797
74$5,132,719$1,067,406$543,487$4,291,170
75$5,587,917$1,051,370$493,355$4,641,510
76$6,087,393$1,032,395$439,390$5,025,967
77$6,635,595$1,010,271$381,398$5,448,010
78$7,237,423$984,771$319,172$5,911,467
79$7,898,275$955,660$252,499$6,420,556
80$8,624,097$922,685$181,156$6,979,927
81$9,421,439$885,581$104,909$7,594,705
82$10,297,517$844,065$23,514$8,270,542
83$11,260,280$797,841$0$9,013,667
84$12,318,486$746,593$0$9,843,113
85$13,481,784$689,988$0$10,759,893
86$14,760,802$627,673$0$11,767,882
87$16,167,252$559,278$0$12,876,333
88$17,714,037$484,408$0$14,095,443
89$19,415,372$402,647$0$15,436,446
90$21,286,921$313,557$0$16,911,724
91$23,345,939$216,674$0$18,534,920
92$25,611,442$111,508$0$20,321,069
93$28,104,379$0$0$22,286,739
94$30,847,833$0$0$24,450,458
95$33,867,239$0$0$26,845,374
96$37,190,621$0$0$29,481,452
97$40,848,860$0$0$32,383,192
98$44,875,980$0$0$35,577,590
99$49,309,473$0$0$39,094,394
100$54,190,651$0$0$42,966,379