Can I retire at age 53 with 947,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $947,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$78,202$77,506$76,826$76,163$75,515$74,914
2 years$38,714$37,993$37,294$36,617$35,960$35,353
3 years$25,553$24,829$24,132$23,461$22,814$22,222
4 years$18,974$18,252$17,562$16,902$16,271$15,698
5 years$15,027$14,310$13,629$12,982$12,369$11,816
6 years$12,397$11,685$11,014$10,382$9,787$9,255
7 years$10,519$9,813$9,153$8,536$7,960$7,448
8 years$9,111$8,412$7,762$7,160$6,603$6,113
9 years$8,017$7,324$6,686$6,099$5,561$5,092
10 years$7,142$6,456$5,829$5,257$4,738$4,290
11 years$6,427$5,747$5,131$4,576$4,075$3,647
12 years$5,831$5,158$4,554$4,013$3,531$3,123
13 years$5,327$4,661$4,069$3,543$3,079$2,691
14 years$4,896$4,237$3,656$3,145$2,699$2,330
15 years$4,522$3,871$3,301$2,805$2,377$2,026
16 years$4,196$3,551$2,993$2,512$2,101$1,768
17 years$3,908$3,271$2,723$2,257$1,863$1,547
18 years$3,652$3,022$2,486$2,034$1,656$1,357
19 years$3,424$2,801$2,276$1,838$1,476$1,194
20 years$3,219$2,603$2,088$1,664$1,318$1,052
21 years$3,033$2,424$1,921$1,510$1,180$928
22 years$2,865$2,263$1,771$1,373$1,058$821
23 years$2,711$2,117$1,635$1,251$949$726
24 years$2,571$1,983$1,512$1,141$853$643
25 years$2,442$1,861$1,400$1,042$768$571
26 years$2,323$1,749$1,299$953$692$506
27 years$2,213$1,646$1,206$872$624$450
28 years$2,111$1,551$1,121$799$563$400
29 years$2,016$1,463$1,043$733$508$356
30 years$1,928$1,382$972$672$459$316
31 years$1,845$1,306$906$617$415$282
32 years$1,768$1,236$845$567$375$251
33 years$1,696$1,171$789$522$340$224
34 years$1,628$1,109$737$480$308$199
35 years$1,564$1,052$689$442$279$178
36 years$1,504$999$645$407$252$158
37 years$1,447$949$604$375$229$141
38 years$1,394$902$565$346$207$126
39 years$1,343$857$530$319$188$113
40 years$1,295$816$496$294$171$100
41 years$1,249$776$465$271$155$90
42 years$1,206$739$437$250$140$80
43 years$1,164$705$410$231$127$71
44 years$1,125$672$385$213$116$64
45 years$1,088$640$361$197$105$57
46 years$1,052$611$339$182$95$51
47 years$1,018$583$319$168$87$45
48 years$985$557$299$155$79$41
49 years$954$531$281$144$71$36
50 years$925$508$265$133$65$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $947,000, adding $2,725 every year, while hoping to spend $38,267 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: 62/28/10 Blend
52$947,000$947,000$947,000$947,000
53$1,046,405$996,214$981,535$1,108,770
54$1,112,422$1,004,313$973,701$1,158,940
55$1,183,891$1,011,525$964,322$1,209,023
56$1,261,327$1,017,769$953,305$1,262,731
57$1,345,296$1,022,954$940,555$1,320,417
58$1,436,423$1,026,985$925,970$1,382,468
59$1,535,392$1,029,762$909,445$1,449,313
60$1,642,959$1,031,177$890,868$1,521,423
61$1,759,953$1,031,117$870,124$1,599,320
62$1,887,287$1,029,460$847,091$1,683,580
63$2,025,965$1,026,078$821,644$1,774,840
64$2,177,093$1,020,835$793,648$1,873,799
65$2,341,886$1,013,586$762,966$1,981,233
66$2,521,685$1,004,179$729,451$2,097,997
67$2,717,963$992,449$692,954$2,225,033
68$2,932,341$978,225$653,314$2,363,385
69$3,166,606$961,324$610,366$2,514,200
70$3,422,724$941,553$563,937$2,678,748
71$3,702,859$918,707$513,846$2,858,430
72$4,009,395$892,568$459,905$3,054,790
73$4,344,956$862,906$401,914$3,269,533
74$4,712,433$829,480$339,670$3,504,542
75$5,115,007$792,030$272,955$3,761,894
76$5,556,184$750,286$201,545$4,043,880
77$6,039,823$703,959$125,205$4,353,029
78$6,570,177$652,744$43,691$4,692,130
79$7,151,926$596,320$0$5,064,263
80$7,790,230$534,347$0$5,477,444
81$8,490,767$466,464$0$5,936,074
82$9,259,796$392,292$0$6,439,652
83$10,104,210$311,429$0$6,992,767
84$11,031,602$223,450$0$7,600,485
85$12,050,335$127,909$0$8,268,387
86$13,169,625$24,333$0$9,002,630
87$14,399,622$0$0$9,810,004
88$15,751,509$0$0$10,725,040
89$17,237,608$0$0$11,739,236
90$18,871,492$0$0$12,854,368
91$20,668,114$0$0$14,080,651
92$22,643,951$0$0$15,429,343
93$24,817,156$0$0$16,912,843
94$27,207,729$0$0$18,544,816
95$29,837,706$0$0$20,340,317
96$32,731,366$0$0$22,315,932
97$35,915,461$0$0$24,489,939
98$39,419,467$0$0$26,882,474
99$43,275,862$0$0$29,515,727
100$47,520,430$0$0$32,414,146