Can I retire at age 53 with 948,000?

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 $948,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.8%
1 years$78,285$77,588$76,907$76,243$75,595$72,624
2 years$38,755$38,033$37,334$36,655$35,998$33,041
3 years$25,580$24,855$24,157$23,485$22,838$19,989
4 years$18,994$18,271$17,580$16,920$16,288$13,568
5 years$15,043$14,325$13,643$12,996$12,382$9,798
6 years$12,410$11,697$11,026$10,393$9,798$7,351
7 years$10,530$9,823$9,162$8,545$7,968$5,658
8 years$9,121$8,420$7,770$7,168$6,610$4,434
9 years$8,025$7,331$6,693$6,106$5,567$3,522
10 years$7,149$6,462$5,835$5,263$4,743$2,825
11 years$6,433$5,753$5,137$4,580$4,079$2,284
12 years$5,837$5,164$4,559$4,018$3,535$1,858
13 years$5,333$4,666$4,073$3,547$3,083$1,518
14 years$4,901$4,242$3,660$3,149$2,702$1,246
15 years$4,527$3,875$3,304$2,808$2,379$1,025
16 years$4,200$3,555$2,996$2,514$2,103$846
17 years$3,912$3,274$2,726$2,259$1,864$699
18 years$3,656$3,025$2,488$2,036$1,658$579
19 years$3,427$2,804$2,278$1,840$1,478$480
20 years$3,222$2,606$2,091$1,666$1,320$399
21 years$3,036$2,427$1,923$1,512$1,181$331
22 years$2,868$2,265$1,772$1,375$1,059$275
23 years$2,714$2,119$1,636$1,252$950$229
24 years$2,573$1,985$1,513$1,142$854$191
25 years$2,444$1,863$1,402$1,043$769$159
26 years$2,325$1,751$1,300$954$692$132
27 years$2,215$1,648$1,207$873$624$110
28 years$2,113$1,553$1,122$800$563$92
29 years$2,018$1,465$1,044$733$509$77
30 years$1,930$1,383$973$673$460$64
31 years$1,847$1,308$907$618$415$53
32 years$1,770$1,237$846$568$376$45
33 years$1,698$1,172$790$522$340$37
34 years$1,630$1,111$738$481$308$31
35 years$1,566$1,053$690$442$279$26
36 years$1,506$1,000$646$407$253$22
37 years$1,449$950$604$375$229$18
38 years$1,395$902$566$346$208$15
39 years$1,344$858$530$319$188$13
40 years$1,296$816$497$294$171$10
41 years$1,250$777$466$272$155$9
42 years$1,207$740$437$251$141$7
43 years$1,166$705$410$231$128$6
44 years$1,126$672$385$214$116$5
45 years$1,089$641$362$197$105$4
46 years$1,053$612$340$182$95$4
47 years$1,019$584$319$168$87$3
48 years$987$557$300$156$79$2
49 years$955$532$282$144$72$2
50 years$926$508$265$133$65$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $948,000, adding $3,326 every year, while hoping to spend $56,848 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: 62/18/20 Blend
52$948,000$948,000$948,000$948,000
53$1,048,127$997,883$983,189$1,107,497
54$1,094,550$986,293$955,640$1,136,367
55$1,143,803$972,230$925,263$1,161,234
56$1,196,114$955,513$891,902$1,187,078
57$1,251,734$935,950$855,397$1,214,000
58$1,310,936$913,336$815,578$1,242,113
59$1,374,020$887,458$772,269$1,271,546
60$1,441,314$858,087$725,283$1,302,441
61$1,513,176$824,982$674,428$1,334,959
62$1,590,001$787,887$619,503$1,369,278
63$1,672,220$746,533$560,295$1,405,599
64$1,760,307$700,633$496,586$1,444,146
65$1,854,781$649,887$428,144$1,485,170
66$1,956,211$593,974$354,729$1,528,950
67$2,065,223$532,556$276,091$1,575,798
68$2,182,502$465,278$191,966$1,626,060
69$2,308,803$391,762$102,083$1,680,125
70$2,444,952$311,610$6,154$1,738,424
71$2,591,859$224,401$0$1,801,437
72$2,750,523$129,691$0$1,890,232
73$2,922,041$27,010$0$1,987,605
74$3,107,618$0$0$2,092,973
75$3,308,582$0$0$2,223,807
76$3,526,390$0$0$2,371,465
77$3,762,644$0$0$2,531,689
78$4,019,109$0$0$2,705,684
79$4,297,722$0$0$2,894,773
80$4,600,616$0$0$3,100,412
81$4,930,138$0$0$3,324,203
82$5,288,870$0$0$3,567,909
83$5,679,651$0$0$3,833,468
84$6,105,609$0$0$4,123,016
85$6,570,184$0$0$4,438,902
86$7,077,162$0$0$4,783,711
87$7,630,711$0$0$5,160,290
88$8,235,420$0$0$5,571,772
89$8,896,341$0$0$6,021,607
90$9,619,034$0$0$6,513,593
91$10,409,623$0$0$7,051,911
92$11,274,849$0$0$7,641,167
93$12,222,137$0$0$8,286,431
94$13,259,662$0$0$8,993,287
95$14,396,427$0$0$9,767,883
96$15,642,346$0$0$10,616,992
97$17,008,340$0$0$11,548,074
98$18,506,435$0$0$12,569,342
99$20,149,879$0$0$13,689,846
100$21,953,260$0$0$14,919,552