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%16.9%
1 years$78,037$77,342$76,664$76,002$75,356$73,237
2 years$38,632$37,913$37,215$36,539$35,884$33,765
3 years$25,499$24,776$24,081$23,411$22,766$20,714
4 years$18,934$18,213$17,525$16,866$16,237$14,268
5 years$14,996$14,279$13,600$12,955$12,343$10,462
6 years$12,371$11,660$10,991$10,360$9,767$7,975
7 years$10,497$9,792$9,133$8,518$7,943$6,241
8 years$9,092$8,394$7,746$7,145$6,589$4,976
9 years$8,000$7,308$6,671$6,086$5,549$4,023
10 years$7,127$6,442$5,816$5,246$4,728$3,287
11 years$6,413$5,735$5,121$4,566$4,066$2,708
12 years$5,818$5,147$4,544$4,005$3,524$2,245
13 years$5,316$4,652$4,060$3,536$3,073$1,871
14 years$4,885$4,228$3,648$3,139$2,694$1,567
15 years$4,513$3,863$3,294$2,799$2,372$1,316
16 years$4,187$3,544$2,986$2,506$2,096$1,109
17 years$3,900$3,264$2,717$2,252$1,859$936
18 years$3,645$3,016$2,481$2,029$1,653$792
19 years$3,417$2,795$2,271$1,834$1,473$672
20 years$3,212$2,597$2,084$1,661$1,316$570
21 years$3,027$2,419$1,917$1,507$1,177$484
22 years$2,859$2,258$1,767$1,370$1,055$412
23 years$2,705$2,112$1,631$1,248$947$351
24 years$2,565$1,979$1,509$1,138$852$299
25 years$2,436$1,857$1,397$1,040$766$255
26 years$2,318$1,745$1,296$951$690$217
27 years$2,208$1,643$1,203$870$622$185
28 years$2,106$1,548$1,119$797$561$158
29 years$2,012$1,460$1,041$731$507$135
30 years$1,924$1,379$970$671$458$115
31 years$1,841$1,304$904$616$414$99
32 years$1,764$1,233$843$566$375$84
33 years$1,692$1,168$788$521$339$72
34 years$1,625$1,107$736$479$307$62
35 years$1,561$1,050$688$441$278$53
36 years$1,501$997$644$406$252$45
37 years$1,444$947$602$374$228$38
38 years$1,391$900$564$345$207$33
39 years$1,340$855$529$318$188$28
40 years$1,292$814$495$293$170$24
41 years$1,246$775$464$271$154$21
42 years$1,203$738$436$250$140$18
43 years$1,162$703$409$231$127$15
44 years$1,123$670$384$213$115$13
45 years$1,085$639$360$197$105$11
46 years$1,050$610$338$182$95$9
47 years$1,016$582$318$168$86$8
48 years$983$555$299$155$78$7
49 years$952$530$281$143$71$6
50 years$923$507$264$132$65$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $945,000, adding $2,676 every year, while hoping to spend $57,081 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: 21/50/29 Blend
52$945,000$945,000$945,000$945,000
53$1,044,150$994,065$979,418$1,056,417
54$1,089,920$982,041$951,495$1,055,866
55$1,138,445$967,514$920,723$1,050,360
56$1,189,946$950,302$886,947$1,043,237
57$1,244,665$930,211$850,004$1,034,403
58$1,302,865$907,036$809,723$1,023,761
59$1,364,836$880,559$765,928$1,011,210
60$1,430,894$850,551$718,431$996,646
61$1,501,386$816,769$667,039$979,966
62$1,576,690$778,954$611,548$961,060
63$1,657,224$736,834$551,747$939,818
64$1,743,444$690,122$487,413$916,129
65$1,835,849$638,511$418,315$889,879
66$1,934,988$581,681$344,211$860,954
67$2,041,464$519,290$264,849$829,240
68$2,155,937$450,980$179,966$794,620
69$2,279,134$376,368$89,285$756,983
70$2,411,849$295,055$0$716,214
71$2,554,960$206,614$0$674,523
72$2,709,427$110,599$0$659,118
73$2,876,305$6,536$0$642,340
74$3,056,757$0$0$624,194
75$3,252,058$0$0$663,060
76$3,463,610$0$0$709,197
77$3,692,955$0$0$759,363
78$3,941,789$0$0$813,948
79$4,211,977$0$0$873,380
80$4,505,570$0$0$938,130
81$4,824,824$0$0$1,008,719
82$5,172,223$0$0$1,085,717
83$5,550,497$0$0$1,169,753
84$5,962,653$0$0$1,261,520
85$6,411,998$0$0$1,361,779
86$6,902,172$0$0$1,471,369
87$7,437,182$0$0$1,591,214
88$8,021,440$0$0$1,722,331
89$8,659,801$0$0$1,865,840
90$9,357,610$0$0$2,022,974
91$10,120,752$0$0$2,195,089
92$10,955,708$0$0$2,383,682
93$11,869,613$0$0$2,590,400
94$12,870,323$0$0$2,817,056
95$13,966,491$0$0$3,065,647
96$15,167,645$0$0$3,338,374
97$16,484,278$0$0$3,637,660
98$17,927,949$0$0$3,966,175
99$19,511,385$0$0$4,326,858
100$21,248,608$0$0$4,722,950