Can I retire at age 53 with 953,000?

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 $953,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.6%
1 years$78,698$77,997$77,313$76,645$75,994$73,649
2 years$38,959$38,234$37,531$36,849$36,187$33,846
3 years$25,715$24,986$24,285$23,609$22,959$20,694
4 years$19,094$18,367$17,673$17,009$16,374$14,203
5 years$15,122$14,400$13,715$13,065$12,448$10,376
6 years$12,476$11,759$11,084$10,448$9,849$7,879
7 years$10,586$9,875$9,211$8,590$8,010$6,141
8 years$9,169$8,465$7,811$7,206$6,645$4,876
9 years$8,068$7,370$6,728$6,138$5,596$3,926
10 years$7,187$6,496$5,866$5,291$4,768$3,193
11 years$6,467$5,783$5,164$4,605$4,101$2,619
12 years$5,868$5,191$4,583$4,039$3,554$2,162
13 years$5,361$4,691$4,095$3,566$3,099$1,793
14 years$4,927$4,264$3,679$3,165$2,716$1,494
15 years$4,551$3,895$3,322$2,823$2,392$1,249
16 years$4,222$3,574$3,012$2,528$2,114$1,047
17 years$3,933$3,291$2,740$2,271$1,874$880
18 years$3,675$3,041$2,502$2,047$1,667$740
19 years$3,446$2,819$2,290$1,849$1,485$624
20 years$3,239$2,619$2,102$1,675$1,327$527
21 years$3,052$2,440$1,933$1,520$1,187$445
22 years$2,883$2,277$1,782$1,382$1,064$377
23 years$2,728$2,130$1,645$1,259$955$319
24 years$2,587$1,996$1,521$1,148$859$270
25 years$2,457$1,873$1,409$1,048$773$229
26 years$2,337$1,760$1,307$959$696$194
27 years$2,227$1,657$1,214$877$628$165
28 years$2,124$1,561$1,128$804$566$140
29 years$2,029$1,473$1,050$737$511$119
30 years$1,940$1,391$978$677$462$101
31 years$1,857$1,315$912$621$418$86
32 years$1,779$1,244$851$571$378$73
33 years$1,707$1,178$794$525$342$62
34 years$1,638$1,117$742$483$310$53
35 years$1,574$1,059$694$445$280$45
36 years$1,514$1,005$649$410$254$38
37 years$1,456$955$607$377$230$32
38 years$1,402$907$569$348$209$27
39 years$1,351$863$533$321$189$23
40 years$1,303$821$500$296$172$20
41 years$1,257$781$468$273$156$17
42 years$1,213$744$439$252$141$14
43 years$1,172$709$412$233$128$12
44 years$1,132$676$387$215$116$10
45 years$1,095$644$363$198$106$9
46 years$1,059$615$341$183$96$7
47 years$1,024$587$321$169$87$6
48 years$992$560$301$156$79$5
49 years$960$535$283$145$72$5
50 years$930$511$266$134$65$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $953,000, adding $4,219 every year, while hoping to spend $57,433 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: 57/21/22 Blend
52$953,000$953,000$953,000$953,000
53$1,054,558$1,004,049$989,277$1,108,194
54$1,101,015$992,139$961,310$1,133,355
55$1,150,285$977,721$930,481$1,154,263
56$1,202,595$960,610$896,633$1,175,807
57$1,258,193$940,613$859,603$1,198,061
58$1,317,349$917,524$819,221$1,221,111
59$1,380,360$891,124$775,306$1,245,056
60$1,447,551$861,183$727,672$1,270,005
61$1,519,276$827,456$676,124$1,296,084
62$1,595,926$789,685$620,458$1,323,434
63$1,677,926$747,596$560,460$1,352,216
64$1,765,747$700,899$495,907$1,382,608
65$1,859,900$649,290$426,567$1,414,813
66$1,960,949$592,445$352,196$1,449,059
67$2,069,512$530,021$272,541$1,485,602
68$2,186,268$461,658$187,337$1,524,727
69$2,311,962$386,974$96,307$1,566,755
70$2,447,411$305,565$0$1,612,047
71$2,593,515$217,005$0$1,661,202
72$2,751,259$120,844$0$1,738,610
73$2,921,730$16,608$0$1,822,217
74$3,106,118$0$0$1,912,661
75$3,305,735$0$0$2,032,880
76$3,522,021$0$0$2,167,365
77$3,756,560$0$0$2,313,272
78$4,011,094$0$0$2,471,694
79$4,287,537$0$0$2,643,832
80$4,587,999$0$0$2,831,010
81$4,914,796$0$0$3,034,681
82$5,270,479$0$0$3,256,446
83$5,657,855$0$0$3,498,067
84$6,080,011$0$0$3,761,481
85$6,540,347$0$0$4,048,821
86$7,042,602$0$0$4,362,435
87$7,590,895$0$0$4,704,909
88$8,189,756$0$0$5,079,086
89$8,844,176$0$0$5,488,098
90$9,559,647$0$0$5,935,395
91$10,342,218$0$0$6,424,773
92$11,198,546$0$0$6,960,412
93$12,135,965$0$0$7,546,916
94$13,162,548$0$0$8,189,354
95$14,287,187$0$0$8,893,310
96$15,519,674$0$0$9,664,932
97$16,870,794$0$0$10,510,991
98$18,352,423$0$0$11,438,945
99$19,977,644$0$0$12,457,010
100$21,760,865$0$0$13,574,232