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%17.4%
1 years$78,285$77,588$76,907$76,243$75,595$73,322
2 years$38,755$38,033$37,334$36,655$35,998$33,727
3 years$25,580$24,855$24,157$23,485$22,838$20,641
4 years$18,994$18,271$17,580$16,920$16,288$14,181
5 years$15,043$14,325$13,643$12,996$12,382$10,371
6 years$12,410$11,697$11,026$10,393$9,798$7,884
7 years$10,530$9,823$9,162$8,545$7,968$6,152
8 years$9,121$8,420$7,770$7,168$6,610$4,891
9 years$8,025$7,331$6,693$6,106$5,567$3,942
10 years$7,149$6,462$5,835$5,263$4,743$3,211
11 years$6,433$5,753$5,137$4,580$4,079$2,636
12 years$5,837$5,164$4,559$4,018$3,535$2,179
13 years$5,333$4,666$4,073$3,547$3,083$1,810
14 years$4,901$4,242$3,660$3,149$2,702$1,510
15 years$4,527$3,875$3,304$2,808$2,379$1,264
16 years$4,200$3,555$2,996$2,514$2,103$1,061
17 years$3,912$3,274$2,726$2,259$1,864$893
18 years$3,656$3,025$2,488$2,036$1,658$753
19 years$3,427$2,804$2,278$1,840$1,478$636
20 years$3,222$2,606$2,091$1,666$1,320$537
21 years$3,036$2,427$1,923$1,512$1,181$455
22 years$2,868$2,265$1,772$1,375$1,059$385
23 years$2,714$2,119$1,636$1,252$950$327
24 years$2,573$1,985$1,513$1,142$854$277
25 years$2,444$1,863$1,402$1,043$769$236
26 years$2,325$1,751$1,300$954$692$200
27 years$2,215$1,648$1,207$873$624$170
28 years$2,113$1,553$1,122$800$563$145
29 years$2,018$1,465$1,044$733$509$123
30 years$1,930$1,383$973$673$460$105
31 years$1,847$1,308$907$618$415$89
32 years$1,770$1,237$846$568$376$76
33 years$1,698$1,172$790$522$340$64
34 years$1,630$1,111$738$481$308$55
35 years$1,566$1,053$690$442$279$47
36 years$1,506$1,000$646$407$253$40
37 years$1,449$950$604$375$229$34
38 years$1,395$902$566$346$208$29
39 years$1,344$858$530$319$188$25
40 years$1,296$816$497$294$171$21
41 years$1,250$777$466$272$155$18
42 years$1,207$740$437$251$141$15
43 years$1,166$705$410$231$128$13
44 years$1,126$672$385$214$116$11
45 years$1,089$641$362$197$105$9
46 years$1,053$612$340$182$95$8
47 years$1,019$584$319$168$87$7
48 years$987$557$300$156$79$6
49 years$955$532$282$144$72$5
50 years$926$508$265$133$65$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $948,000, adding $6,412 every year, while hoping to spend $24,342 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: 82/6/12 Blend
52$948,000$948,000$948,000$948,000
53$1,051,310$1,001,066$986,372$1,134,743
54$1,132,644$1,024,219$993,516$1,213,529
55$1,221,458$1,047,690$1,000,083$1,296,151
56$1,318,490$1,071,469$1,006,029$1,386,143
57$1,424,550$1,095,546$1,011,306$1,484,232
58$1,540,534$1,119,908$1,015,864$1,591,219
59$1,667,424$1,144,539$1,019,651$1,707,986
60$1,806,305$1,169,424$1,022,613$1,835,504
61$1,958,369$1,194,547$1,024,691$1,974,843
62$2,124,929$1,219,886$1,025,825$2,127,181
63$2,307,433$1,245,422$1,025,951$2,293,816
64$2,507,474$1,271,131$1,025,003$2,476,179
65$2,726,807$1,296,986$1,022,911$2,675,846
66$2,967,364$1,322,961$1,019,601$2,894,551
67$3,231,274$1,349,025$1,014,997$3,134,207
68$3,520,882$1,375,146$1,009,017$3,396,922
69$3,838,770$1,401,286$1,001,578$3,685,015
70$4,187,784$1,427,409$992,590$4,001,046
71$4,571,058$1,453,471$981,962$4,347,830
72$4,992,043$1,479,429$969,594$4,728,475
73$5,454,543$1,505,232$955,387$5,146,399
74$5,962,747$1,530,829$939,234$5,605,374
75$6,521,271$1,556,164$921,022$6,109,552
76$7,135,199$1,581,175$900,635$6,663,510
77$7,810,134$1,605,797$877,951$7,272,291
78$8,552,248$1,629,961$852,842$7,941,452
79$9,368,340$1,653,592$825,175$8,677,117
80$10,265,902$1,676,609$794,810$9,486,033
81$11,253,188$1,698,927$761,600$10,375,636
82$12,339,292$1,720,453$725,392$11,354,118
83$13,534,234$1,741,090$686,027$12,430,509
84$14,849,055$1,760,733$643,339$13,614,757
85$16,295,920$1,779,269$597,151$14,917,828
86$17,888,230$1,796,580$547,283$16,351,802
87$19,640,756$1,812,539$493,542$17,929,993
88$21,569,768$1,827,009$435,732$19,667,072
89$23,693,198$1,839,846$373,642$21,579,209
90$26,030,803$1,850,896$307,057$23,684,218
91$28,604,351$1,859,996$235,750$26,001,734
92$31,437,831$1,866,972$159,484$28,553,393
93$34,557,675$1,871,639$78,012$31,363,038
94$37,993,008$1,873,800$0$34,456,945
95$41,775,924$1,873,245$0$37,865,211
96$45,941,788$1,869,754$0$41,629,335
97$50,529,569$1,863,091$0$45,774,518
98$55,582,208$1,853,005$0$50,339,546
99$61,147,022$1,839,231$0$55,367,161
100$67,276,154$1,821,489$0$60,904,463