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%17%
1 years$78,037$77,342$76,664$76,002$75,356$73,208
2 years$38,632$37,913$37,215$36,539$35,884$33,736
3 years$25,499$24,776$24,081$23,411$22,766$20,687
4 years$18,934$18,213$17,525$16,866$16,237$14,241
5 years$14,996$14,279$13,600$12,955$12,343$10,437
6 years$12,371$11,660$10,991$10,360$9,767$7,951
7 years$10,497$9,792$9,133$8,518$7,943$6,219
8 years$9,092$8,394$7,746$7,145$6,589$4,955
9 years$8,000$7,308$6,671$6,086$5,549$4,004
10 years$7,127$6,442$5,816$5,246$4,728$3,269
11 years$6,413$5,735$5,121$4,566$4,066$2,691
12 years$5,818$5,147$4,544$4,005$3,524$2,230
13 years$5,316$4,652$4,060$3,536$3,073$1,858
14 years$4,885$4,228$3,648$3,139$2,694$1,554
15 years$4,513$3,863$3,294$2,799$2,372$1,305
16 years$4,187$3,544$2,986$2,506$2,096$1,098
17 years$3,900$3,264$2,717$2,252$1,859$927
18 years$3,645$3,016$2,481$2,029$1,653$784
19 years$3,417$2,795$2,271$1,834$1,473$664
20 years$3,212$2,597$2,084$1,661$1,316$563
21 years$3,027$2,419$1,917$1,507$1,177$478
22 years$2,859$2,258$1,767$1,370$1,055$406
23 years$2,705$2,112$1,631$1,248$947$346
24 years$2,565$1,979$1,509$1,138$852$294
25 years$2,436$1,857$1,397$1,040$766$251
26 years$2,318$1,745$1,296$951$690$214
27 years$2,208$1,643$1,203$870$622$182
28 years$2,106$1,548$1,119$797$561$155
29 years$2,012$1,460$1,041$731$507$132
30 years$1,924$1,379$970$671$458$113
31 years$1,841$1,304$904$616$414$97
32 years$1,764$1,233$843$566$375$82
33 years$1,692$1,168$788$521$339$70
34 years$1,625$1,107$736$479$307$60
35 years$1,561$1,050$688$441$278$51
36 years$1,501$997$644$406$252$44
37 years$1,444$947$602$374$228$37
38 years$1,391$900$564$345$207$32
39 years$1,340$855$529$318$188$27
40 years$1,292$814$495$293$170$23
41 years$1,246$775$464$271$154$20
42 years$1,203$738$436$250$140$17
43 years$1,162$703$409$231$127$15
44 years$1,123$670$384$213$115$12
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 $5,607 every year, while hoping to spend $49,310 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: 44/41/15 Blend
52$945,000$945,000$945,000$945,000
53$1,047,174$997,089$982,441$1,088,490
54$1,101,520$993,481$962,887$1,114,335
55$1,159,757$988,043$941,026$1,136,961
56$1,222,229$980,634$916,728$1,160,418
57$1,289,315$971,104$889,857$1,184,806
58$1,361,430$959,293$860,272$1,210,234
59$1,439,030$945,032$827,825$1,236,828
60$1,522,615$928,143$792,361$1,264,730
61$1,612,736$908,436$753,719$1,294,100
62$1,709,995$885,709$711,728$1,325,119
63$1,815,056$859,751$666,213$1,357,989
64$1,928,649$830,336$616,989$1,392,939
65$2,051,575$797,226$563,861$1,430,224
66$2,184,715$760,169$506,630$1,470,134
67$2,329,037$718,898$445,083$1,512,989
68$2,485,606$673,132$379,001$1,559,152
69$2,655,595$622,572$308,154$1,609,026
70$2,840,291$566,903$232,303$1,663,064
71$3,041,111$505,792$151,195$1,721,771
72$3,259,614$438,887$64,571$1,785,710
73$3,497,517$365,814$0$1,855,513
74$3,756,707$286,182$0$1,936,341
75$4,039,261$199,575$0$2,035,836
76$4,347,466$105,555$0$2,144,571
77$4,683,838$3,657$0$2,263,568
78$5,051,148$0$0$2,393,959
79$5,452,444$0$0$2,585,098
80$5,891,083$0$0$2,795,937
81$6,370,763$0$0$3,026,617
82$6,895,551$0$0$3,279,110
83$7,469,929$0$0$3,555,585
84$8,098,832$0$0$3,858,435
85$8,787,692$0$0$4,190,291
86$9,542,493$0$0$4,554,053
87$10,369,826$0$0$4,952,913
88$11,276,947$0$0$5,390,389
89$12,271,851$0$0$5,870,354
90$13,363,342$0$0$6,397,075
91$14,561,117$0$0$6,975,253
92$15,875,859$0$0$7,610,063
93$17,319,334$0$0$8,307,208
94$18,904,504$0$0$9,072,972
95$20,645,647$0$0$9,914,274
96$22,558,492$0$0$10,838,738
97$24,660,368$0$0$11,854,764
98$26,970,364$0$0$12,971,604
99$29,509,510$0$0$14,199,453
100$32,300,977$0$0$15,549,542