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%13.2%
1 years$78,285$77,588$76,907$76,243$75,595$74,588
2 years$38,755$38,033$37,334$36,655$35,998$34,985
3 years$25,580$24,855$24,157$23,485$22,838$21,851
4 years$18,994$18,271$17,580$16,920$16,288$15,335
5 years$15,043$14,325$13,643$12,996$12,382$11,464
6 years$12,410$11,697$11,026$10,393$9,798$8,917
7 years$10,530$9,823$9,162$8,545$7,968$7,125
8 years$9,121$8,420$7,770$7,168$6,610$5,804
9 years$8,025$7,331$6,693$6,106$5,567$4,798
10 years$7,149$6,462$5,835$5,263$4,743$4,010
11 years$6,433$5,753$5,137$4,580$4,079$3,382
12 years$5,837$5,164$4,559$4,018$3,535$2,873
13 years$5,333$4,666$4,073$3,547$3,083$2,454
14 years$4,901$4,242$3,660$3,149$2,702$2,107
15 years$4,527$3,875$3,304$2,808$2,379$1,816
16 years$4,200$3,555$2,996$2,514$2,103$1,570
17 years$3,912$3,274$2,726$2,259$1,864$1,362
18 years$3,656$3,025$2,488$2,036$1,658$1,184
19 years$3,427$2,804$2,278$1,840$1,478$1,031
20 years$3,222$2,606$2,091$1,666$1,320$900
21 years$3,036$2,427$1,923$1,512$1,181$787
22 years$2,868$2,265$1,772$1,375$1,059$689
23 years$2,714$2,119$1,636$1,252$950$603
24 years$2,573$1,985$1,513$1,142$854$529
25 years$2,444$1,863$1,402$1,043$769$465
26 years$2,325$1,751$1,300$954$692$408
27 years$2,215$1,648$1,207$873$624$359
28 years$2,113$1,553$1,122$800$563$316
29 years$2,018$1,465$1,044$733$509$278
30 years$1,930$1,383$973$673$460$245
31 years$1,847$1,308$907$618$415$215
32 years$1,770$1,237$846$568$376$190
33 years$1,698$1,172$790$522$340$167
34 years$1,630$1,111$738$481$308$148
35 years$1,566$1,053$690$442$279$130
36 years$1,506$1,000$646$407$253$115
37 years$1,449$950$604$375$229$101
38 years$1,395$902$566$346$208$89
39 years$1,344$858$530$319$188$79
40 years$1,296$816$497$294$171$70
41 years$1,250$777$466$272$155$61
42 years$1,207$740$437$251$141$54
43 years$1,166$705$410$231$128$48
44 years$1,126$672$385$214$116$42
45 years$1,089$641$362$197$105$37
46 years$1,053$612$340$182$95$33
47 years$1,019$584$319$168$87$29
48 years$987$557$300$156$79$26
49 years$955$532$282$144$72$23
50 years$926$508$265$133$65$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $948,000, adding $6,901 every year, while hoping to spend $24,252 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: 32/42/26 Blend
52$948,000$948,000$948,000$948,000
53$1,051,814$1,001,570$986,876$1,076,926
54$1,133,296$1,024,843$994,133$1,119,902
55$1,222,275$1,048,444$1,000,819$1,163,525
56$1,319,492$1,072,363$1,006,892$1,210,029
57$1,425,760$1,096,588$1,012,303$1,259,684
58$1,541,975$1,121,109$1,017,003$1,312,788
59$1,669,124$1,145,911$1,020,940$1,369,668
60$1,808,294$1,170,979$1,024,060$1,430,687
61$1,960,679$1,196,297$1,026,305$1,496,242
62$2,127,598$1,221,845$1,027,616$1,566,775
63$2,310,501$1,247,603$1,027,929$1,642,771
64$2,510,985$1,273,549$1,027,178$1,724,766
65$2,730,811$1,299,658$1,025,294$1,813,351
66$2,971,915$1,325,903$1,022,203$1,909,177
67$3,236,433$1,352,254$1,017,829$2,012,964
68$3,526,715$1,378,680$1,012,092$2,125,506
69$3,845,351$1,405,147$1,004,908$2,247,677
70$4,195,193$1,431,616$996,189$2,380,445
71$4,579,385$1,458,047$985,843$2,524,874
72$5,001,386$1,484,396$973,774$2,682,139
73$5,465,012$1,510,615$959,879$2,853,538
74$5,974,462$1,536,654$944,054$3,040,502
75$6,534,364$1,562,458$926,187$3,244,607
76$7,149,818$1,587,966$906,163$3,467,595
77$7,826,440$1,613,117$883,860$3,711,386
78$8,570,418$1,637,841$859,150$3,978,099
79$9,388,571$1,662,066$831,902$4,270,069
80$10,288,411$1,685,713$801,977$4,589,875
81$11,278,214$1,708,698$769,228$4,940,359
82$12,367,099$1,730,931$733,504$5,324,656
83$13,565,113$1,752,317$694,647$5,746,224
84$14,883,327$1,772,753$652,490$6,208,878
85$16,333,938$1,792,129$606,859$6,716,824
86$17,930,384$1,810,328$557,574$7,274,702
87$19,687,476$1,827,227$504,445$7,887,628
88$21,621,529$1,842,691$447,275$8,561,243
89$23,750,522$1,856,580$385,855$9,301,771
90$26,094,266$1,868,743$319,972$10,116,073
91$28,674,589$1,879,020$249,399$11,011,716
92$31,515,544$1,887,239$173,901$11,997,043
93$34,643,636$1,893,220$93,233$13,081,256
94$38,088,068$1,896,769$7,138$14,274,498
95$41,881,022$1,897,681$0$15,587,957
96$46,057,959$1,895,740$0$17,057,474
97$50,657,952$1,890,713$0$18,676,783
98$55,724,061$1,882,356$0$20,458,976
99$61,303,731$1,870,407$0$22,420,668
100$67,449,246$1,854,591$0$24,580,176