Can I retire at age 53 with 956,000?

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 $956,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$78,946$78,242$77,556$76,887$76,233$74,119
2 years$39,082$38,354$37,649$36,965$36,301$34,188
3 years$25,796$25,065$24,361$23,684$23,031$20,984
4 years$19,154$18,425$17,729$17,063$16,426$14,461
5 years$15,170$14,446$13,758$13,106$12,487$10,609
6 years$12,515$11,796$11,119$10,481$9,880$8,091
7 years$10,619$9,906$9,240$8,617$8,035$6,335
8 years$9,198$8,491$7,836$7,228$6,666$5,054
9 years$8,093$7,393$6,749$6,157$5,614$4,089
10 years$7,210$6,517$5,884$5,307$4,783$3,343
11 years$6,488$5,802$5,180$4,619$4,114$2,755
12 years$5,886$5,207$4,597$4,052$3,565$2,286
13 years$5,378$4,706$4,107$3,577$3,109$1,907
14 years$4,942$4,277$3,691$3,175$2,725$1,598
15 years$4,565$3,908$3,332$2,832$2,399$1,343
16 years$4,235$3,585$3,021$2,535$2,121$1,132
17 years$3,945$3,302$2,749$2,278$1,880$957
18 years$3,687$3,051$2,509$2,053$1,672$810
19 years$3,456$2,828$2,297$1,855$1,490$687
20 years$3,249$2,628$2,108$1,680$1,331$584
21 years$3,062$2,447$1,939$1,525$1,191$497
22 years$2,892$2,285$1,787$1,386$1,068$423
23 years$2,737$2,137$1,650$1,263$958$360
24 years$2,595$2,002$1,526$1,152$861$307
25 years$2,465$1,879$1,414$1,052$775$262
26 years$2,345$1,766$1,311$962$698$224
27 years$2,234$1,662$1,217$880$630$191
28 years$2,131$1,566$1,132$806$568$163
29 years$2,035$1,477$1,053$740$513$139
30 years$1,946$1,395$981$679$463$119
31 years$1,863$1,319$915$623$419$102
32 years$1,785$1,248$853$573$379$87
33 years$1,712$1,182$797$527$343$75
34 years$1,644$1,120$744$485$311$64
35 years$1,579$1,062$696$446$281$55
36 years$1,518$1,008$651$411$255$47
37 years$1,461$958$609$379$231$40
38 years$1,407$910$571$349$209$34
39 years$1,356$865$535$322$190$29
40 years$1,307$823$501$297$172$25
41 years$1,261$784$470$274$156$21
42 years$1,217$746$441$253$142$18
43 years$1,175$711$414$233$129$16
44 years$1,136$678$388$215$117$13
45 years$1,098$646$365$199$106$12
46 years$1,062$617$342$184$96$10
47 years$1,028$589$322$170$87$8
48 years$995$562$302$157$79$7
49 years$963$537$284$145$72$6
50 years$933$513$267$134$65$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $956,000, adding $6,816 every year, while hoping to spend $47,698 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: 61/13/26 Blend
52$956,000$956,000$956,000$956,000
53$1,060,543$1,009,875$995,057$1,117,473
54$1,117,968$1,008,608$977,641$1,155,689
55$1,179,652$1,005,681$958,043$1,191,612
56$1,245,978$1,000,962$936,139$1,229,797
57$1,317,369$994,310$911,801$1,270,471
58$1,394,287$985,578$884,893$1,313,892
59$1,477,241$974,608$855,274$1,360,340
60$1,566,790$961,234$822,796$1,410,130
61$1,663,547$945,279$787,304$1,463,608
62$1,768,187$926,555$748,637$1,521,159
63$1,881,452$904,866$706,625$1,583,209
64$2,004,156$880,000$661,093$1,650,231
65$2,137,196$851,737$611,856$1,722,747
66$2,281,557$819,839$558,721$1,801,335
67$2,438,324$784,059$501,486$1,886,638
68$2,608,689$744,134$439,941$1,979,363
69$2,793,963$699,784$373,867$2,080,296
70$2,995,589$650,716$303,034$2,190,305
71$3,215,156$596,617$227,202$2,310,351
72$3,454,409$537,160$146,121$2,441,496
73$3,715,273$471,994$59,530$2,584,915
74$3,999,863$400,755$0$2,741,908
75$4,310,509$323,051$0$2,923,033
76$4,649,775$238,474$0$3,138,973
77$5,020,482$146,590$0$3,375,035
78$5,425,740$46,941$0$3,633,244
79$5,868,968$0$0$3,915,833
80$6,353,935$0$0$4,233,984
81$6,884,788$0$0$4,589,660
82$7,466,094$0$0$4,979,216
83$8,102,884$0$0$5,406,030
84$8,800,697$0$0$5,873,825
85$9,565,633$0$0$6,386,702
86$10,404,412$0$0$6,949,175
87$11,324,433$0$0$7,566,218
88$12,333,848$0$0$8,243,309
89$13,441,634$0$0$8,986,481
90$14,657,681$0$0$9,802,380
91$15,992,882$0$0$10,698,329
92$17,459,238$0$0$11,682,392
93$19,069,966$0$0$12,763,453
94$20,839,631$0$0$13,951,300
95$22,784,274$0$0$15,256,717
96$24,921,569$0$0$16,691,580
97$27,270,987$0$0$18,268,978
98$29,853,979$0$0$20,003,329
99$32,694,179$0$0$21,910,517
100$35,817,625$0$0$24,008,044