Can I retire at age 53 with 948,000?

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 $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%18.9%
1 years$78,285$77,588$76,907$76,243$75,595$72,884
2 years$38,755$38,033$37,334$36,655$35,998$33,295
3 years$25,580$24,855$24,157$23,485$22,838$20,230
4 years$18,994$18,271$17,580$16,920$16,288$13,794
5 years$15,043$14,325$13,643$12,996$12,382$10,008
6 years$12,410$11,697$11,026$10,393$9,798$7,546
7 years$10,530$9,823$9,162$8,545$7,968$5,838
8 years$9,121$8,420$7,770$7,168$6,610$4,600
9 years$8,025$7,331$6,693$6,106$5,567$3,674
10 years$7,149$6,462$5,835$5,263$4,743$2,964
11 years$6,433$5,753$5,137$4,580$4,079$2,411
12 years$5,837$5,164$4,559$4,018$3,535$1,973
13 years$5,333$4,666$4,073$3,547$3,083$1,622
14 years$4,901$4,242$3,660$3,149$2,702$1,339
15 years$4,527$3,875$3,304$2,808$2,379$1,109
16 years$4,200$3,555$2,996$2,514$2,103$921
17 years$3,912$3,274$2,726$2,259$1,864$767
18 years$3,656$3,025$2,488$2,036$1,658$639
19 years$3,427$2,804$2,278$1,840$1,478$534
20 years$3,222$2,606$2,091$1,666$1,320$446
21 years$3,036$2,427$1,923$1,512$1,181$373
22 years$2,868$2,265$1,772$1,375$1,059$312
23 years$2,714$2,119$1,636$1,252$950$262
24 years$2,573$1,985$1,513$1,142$854$220
25 years$2,444$1,863$1,402$1,043$769$184
26 years$2,325$1,751$1,300$954$692$155
27 years$2,215$1,648$1,207$873$624$130
28 years$2,113$1,553$1,122$800$563$109
29 years$2,018$1,465$1,044$733$509$92
30 years$1,930$1,383$973$673$460$77
31 years$1,847$1,308$907$618$415$65
32 years$1,770$1,237$846$568$376$54
33 years$1,698$1,172$790$522$340$46
34 years$1,630$1,111$738$481$308$38
35 years$1,566$1,053$690$442$279$32
36 years$1,506$1,000$646$407$253$27
37 years$1,449$950$604$375$229$23
38 years$1,395$902$566$346$208$19
39 years$1,344$858$530$319$188$16
40 years$1,296$816$497$294$171$14
41 years$1,250$777$466$272$155$11
42 years$1,207$740$437$251$141$10
43 years$1,166$705$410$231$128$8
44 years$1,126$672$385$214$116$7
45 years$1,089$641$362$197$105$6
46 years$1,053$612$340$182$95$5
47 years$1,019$584$319$168$87$4
48 years$987$557$300$156$79$3
49 years$955$532$282$144$72$3
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 $3,318 every year, while hoping to spend $52,607 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: 43/29/28 Blend
52$948,000$948,000$948,000$948,000
53$1,048,119$997,875$983,181$1,084,507
54$1,099,053$990,797$960,144$1,103,829
55$1,153,420$981,609$934,572$1,119,516
56$1,211,514$970,153$906,325$1,135,507
57$1,273,657$956,259$875,255$1,151,863
58$1,340,203$939,749$841,210$1,168,653
59$1,411,541$920,435$804,028$1,185,957
60$1,488,097$898,115$763,542$1,203,867
61$1,570,338$872,577$719,575$1,222,489
62$1,658,777$843,598$671,945$1,241,945
63$1,753,977$810,939$620,460$1,262,375
64$1,856,556$774,348$564,919$1,283,937
65$1,967,194$733,561$505,113$1,306,811
66$2,086,637$688,295$440,824$1,331,203
67$2,215,706$638,252$371,823$1,357,345
68$2,355,300$583,119$297,871$1,385,499
69$2,506,411$522,563$218,721$1,415,962
70$2,670,128$456,231$134,111$1,449,067
71$2,847,649$383,754$43,771$1,485,191
72$3,040,289$304,738$0$1,524,757
73$3,249,497$218,768$0$1,583,965
74$3,476,865$125,408$0$1,662,599
75$3,724,147$24,195$0$1,748,259
76$3,993,270$0$0$1,841,707
77$4,286,355$0$0$1,971,032
78$4,605,737$0$0$2,120,481
79$4,953,984$0$0$2,283,549
80$5,333,924$0$0$2,461,573
81$5,748,668$0$0$2,656,026
82$6,201,643$0$0$2,868,529
83$6,696,620$0$0$3,100,868
84$7,237,750$0$0$3,355,008
85$7,829,605$0$0$3,633,112
86$8,477,218$0$0$3,937,563
87$9,186,130$0$0$4,270,986
88$9,962,445$0$0$4,636,269
89$10,812,883$0$0$5,036,595
90$11,744,844$0$0$5,475,467
91$12,766,482$0$0$5,956,747
92$13,886,771$0$0$6,484,685
93$15,115,600$0$0$7,063,963
94$16,463,860$0$0$7,699,740
95$17,943,546$0$0$8,397,697
96$19,567,872$0$0$9,164,091
97$21,351,393$0$0$10,005,818
98$23,310,142$0$0$10,930,471
99$25,461,783$0$0$11,946,416
100$27,825,771$0$0$13,062,870