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%16%
1 years$78,285$77,588$76,907$76,243$75,595$73,737
2 years$38,755$38,033$37,334$36,655$35,998$34,138
3 years$25,580$24,855$24,157$23,485$22,838$21,034
4 years$18,994$18,271$17,580$16,920$16,288$14,554
5 years$15,043$14,325$13,643$12,996$12,382$10,722
6 years$12,410$11,697$11,026$10,393$9,798$8,214
7 years$10,530$9,823$9,162$8,545$7,968$6,460
8 years$9,121$8,420$7,770$7,168$6,610$5,178
9 years$8,025$7,331$6,693$6,106$5,567$4,209
10 years$7,149$6,462$5,835$5,263$4,743$3,458
11 years$6,433$5,753$5,137$4,580$4,079$2,865
12 years$5,837$5,164$4,559$4,018$3,535$2,390
13 years$5,333$4,666$4,073$3,547$3,083$2,004
14 years$4,901$4,242$3,660$3,149$2,702$1,688
15 years$4,527$3,875$3,304$2,808$2,379$1,427
16 years$4,200$3,555$2,996$2,514$2,103$1,210
17 years$3,912$3,274$2,726$2,259$1,864$1,029
18 years$3,656$3,025$2,488$2,036$1,658$876
19 years$3,427$2,804$2,278$1,840$1,478$748
20 years$3,222$2,606$2,091$1,666$1,320$639
21 years$3,036$2,427$1,923$1,512$1,181$547
22 years$2,868$2,265$1,772$1,375$1,059$468
23 years$2,714$2,119$1,636$1,252$950$402
24 years$2,573$1,985$1,513$1,142$854$345
25 years$2,444$1,863$1,402$1,043$769$296
26 years$2,325$1,751$1,300$954$692$254
27 years$2,215$1,648$1,207$873$624$218
28 years$2,113$1,553$1,122$800$563$188
29 years$2,018$1,465$1,044$733$509$162
30 years$1,930$1,383$973$673$460$139
31 years$1,847$1,308$907$618$415$120
32 years$1,770$1,237$846$568$376$103
33 years$1,698$1,172$790$522$340$89
34 years$1,630$1,111$738$481$308$76
35 years$1,566$1,053$690$442$279$66
36 years$1,506$1,000$646$407$253$57
37 years$1,449$950$604$375$229$49
38 years$1,395$902$566$346$208$42
39 years$1,344$858$530$319$188$36
40 years$1,296$816$497$294$171$31
41 years$1,250$777$466$272$155$27
42 years$1,207$740$437$251$141$23
43 years$1,166$705$410$231$128$20
44 years$1,126$672$385$214$116$17
45 years$1,089$641$362$197$105$15
46 years$1,053$612$340$182$95$13
47 years$1,019$584$319$168$87$11
48 years$987$557$300$156$79$10
49 years$955$532$282$144$72$8
50 years$926$508$265$133$65$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $948,000, adding $3,116 every year, while hoping to spend $56,332 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: 52/28/20 Blend
52$948,000$948,000$948,000$948,000
53$1,047,910$997,666$982,972$1,096,473
54$1,094,860$986,615$955,965$1,119,188
55$1,144,711$973,134$926,165$1,137,774
56$1,197,699$957,046$893,419$1,156,787
57$1,254,084$938,160$857,568$1,176,288
58$1,314,147$916,276$818,443$1,196,344
59$1,378,199$891,183$775,870$1,217,035
60$1,446,580$862,656$729,666$1,238,453
61$1,519,662$830,457$679,641$1,260,701
62$1,597,852$794,334$625,593$1,283,898
63$1,681,598$754,021$567,316$1,308,179
64$1,771,390$709,237$504,590$1,333,697
65$1,867,767$659,684$437,189$1,360,628
66$1,971,318$605,048$364,873$1,389,166
67$2,082,692$544,995$287,396$1,419,536
68$2,202,601$479,174$204,498$1,451,988
69$2,331,826$407,213$115,909$1,486,806
70$2,471,225$328,720$21,345$1,524,306
71$2,621,743$243,279$0$1,564,849
72$2,784,414$150,454$0$1,625,815
73$2,960,378$49,780$0$1,696,640
74$3,150,887$0$0$1,773,337
75$3,357,317$0$0$1,874,794
76$3,581,182$0$0$2,001,531
77$3,824,146$0$0$2,139,164
78$4,088,039$0$0$2,288,740
79$4,374,875$0$0$2,451,412
80$4,686,868$0$0$2,628,446
81$5,026,457$0$0$2,821,239
82$5,396,321$0$0$3,031,323
83$5,799,412$0$0$3,260,390
84$6,238,978$0$0$3,510,297
85$6,718,592$0$0$3,783,091
86$7,242,189$0$0$4,081,024
87$7,814,099$0$0$4,406,577
88$8,439,090$0$0$4,762,479
89$9,122,410$0$0$5,151,735
90$9,869,839$0$0$5,577,655
91$10,687,739$0$0$6,043,882
92$11,583,118$0$0$6,554,430
93$12,563,689$0$0$7,113,718
94$13,637,951$0$0$7,726,610
95$14,815,259$0$0$8,398,468
96$16,105,919$0$0$9,135,193
97$17,521,281$0$0$9,943,286
98$19,073,845$0$0$10,829,909
99$20,777,381$0$0$11,802,947
100$22,647,054$0$0$12,871,090