Can I retire at age 53 with 958,000?

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 $958,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.6%
1 years$79,111$78,406$77,719$77,048$76,392$73,740
2 years$39,164$38,434$37,727$37,042$36,377$33,733
3 years$25,850$25,117$24,412$23,733$23,079$20,526
4 years$19,194$18,464$17,766$17,098$16,460$14,017
5 years$15,202$14,476$13,787$13,133$12,513$10,186
6 years$12,541$11,821$11,142$10,503$9,901$7,693
7 years$10,641$9,927$9,259$8,635$8,052$5,962
8 years$9,217$8,509$7,852$7,244$6,680$4,706
9 years$8,110$7,409$6,763$6,170$5,626$3,765
10 years$7,225$6,531$5,896$5,319$4,793$3,044
11 years$6,501$5,814$5,191$4,629$4,122$2,480
12 years$5,898$5,218$4,607$4,060$3,572$2,033
13 years$5,389$4,716$4,116$3,584$3,115$1,676
14 years$4,952$4,286$3,698$3,182$2,731$1,386
15 years$4,575$3,916$3,339$2,838$2,404$1,151
16 years$4,244$3,593$3,027$2,541$2,125$958
17 years$3,953$3,309$2,755$2,283$1,884$799
18 years$3,695$3,057$2,515$2,057$1,675$667
19 years$3,464$2,833$2,302$1,859$1,493$558
20 years$3,256$2,633$2,113$1,684$1,334$468
21 years$3,068$2,453$1,943$1,528$1,194$392
22 years$2,898$2,289$1,791$1,389$1,070$329
23 years$2,743$2,141$1,654$1,265$960$277
24 years$2,600$2,006$1,529$1,154$863$233
25 years$2,470$1,883$1,417$1,054$777$196
26 years$2,350$1,769$1,314$964$700$165
27 years$2,238$1,665$1,220$882$631$138
28 years$2,135$1,569$1,134$808$569$117
29 years$2,039$1,480$1,055$741$514$98
30 years$1,950$1,398$983$680$464$83
31 years$1,867$1,322$916$625$420$70
32 years$1,789$1,250$855$574$380$59
33 years$1,716$1,184$798$528$344$49
34 years$1,647$1,122$746$486$311$42
35 years$1,582$1,065$697$447$282$35
36 years$1,522$1,010$652$412$255$30
37 years$1,464$960$611$379$231$25
38 years$1,410$912$572$350$210$21
39 years$1,358$867$536$322$190$18
40 years$1,310$825$502$297$173$15
41 years$1,264$785$471$274$157$13
42 years$1,220$748$442$253$142$11
43 years$1,178$713$414$234$129$9
44 years$1,138$679$389$216$117$8
45 years$1,100$648$365$199$106$6
46 years$1,064$618$343$184$96$5
47 years$1,030$590$322$170$88$5
48 years$997$563$303$157$80$4
49 years$965$538$285$145$72$3
50 years$935$514$268$134$66$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $958,000, adding $2,742 every year, while hoping to spend $40,937 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: 66/14/20 Blend
52$958,000$958,000$958,000$958,000
53$1,058,544$1,007,770$992,921$1,122,910
54$1,122,959$1,013,594$982,628$1,172,239
55$1,192,572$1,018,332$970,617$1,221,194
56$1,267,871$1,021,886$956,789$1,273,739
57$1,349,390$1,024,155$941,037$1,330,224
58$1,437,718$1,025,029$923,252$1,391,041
59$1,533,502$1,024,392$903,319$1,456,619
60$1,637,455$1,022,123$881,115$1,527,432
61$1,750,357$1,018,089$856,514$1,604,005
62$1,873,072$1,012,153$829,385$1,686,916
63$2,006,544$1,004,168$799,589$1,776,804
64$2,151,817$993,977$766,981$1,874,374
65$2,310,037$981,417$731,409$1,980,404
66$2,482,465$966,311$692,716$2,095,755
67$2,670,491$948,474$650,736$2,221,373
68$2,875,641$927,710$605,296$2,358,308
69$3,099,599$903,810$556,216$2,507,713
70$3,344,216$876,555$503,307$2,670,866
71$3,611,530$845,710$446,372$2,849,173
72$3,903,786$811,030$385,205$3,044,188
73$4,223,454$772,252$319,591$3,257,626
74$4,573,255$729,101$249,306$3,491,378
75$4,956,184$681,284$174,115$3,747,532
76$5,375,541$628,493$93,774$4,028,392
77$5,834,957$570,400$8,027$4,336,499
78$6,338,434$506,661$0$4,674,657
79$6,890,378$436,910$0$5,063,775
80$7,495,640$360,763$0$5,492,436
81$8,159,566$277,811$0$5,962,754
82$8,888,043$187,625$0$6,478,946
83$9,687,555$89,750$0$7,045,662
84$10,565,244$0$0$7,668,025
85$11,528,979$0$0$8,354,193
86$12,587,426$0$0$9,123,044
87$13,750,133$0$0$9,967,695
88$15,027,619$0$0$10,895,795
89$16,431,469$0$0$11,915,769
90$17,974,450$0$0$13,036,902
91$19,670,624$0$0$14,269,421
92$21,535,486$0$0$15,624,594
93$23,586,105$0$0$17,114,834
94$25,841,288$0$0$18,753,820
95$28,321,755$0$0$20,556,620
96$31,050,338$0$0$22,539,838
97$34,052,188$0$0$24,721,768
98$37,355,020$0$0$27,122,564
99$40,989,371$0$0$29,764,436
100$44,988,886$0$0$32,671,853