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%15.8%
1 years$79,111$78,406$77,719$77,048$76,392$74,576
2 years$39,164$38,434$37,727$37,042$36,377$34,558
3 years$25,850$25,117$24,412$23,733$23,079$21,314
4 years$19,194$18,464$17,766$17,098$16,460$14,762
5 years$15,202$14,476$13,787$13,133$12,513$10,887
6 years$12,541$11,821$11,142$10,503$9,901$8,349
7 years$10,641$9,927$9,259$8,635$8,052$6,574
8 years$9,217$8,509$7,852$7,244$6,680$5,276
9 years$8,110$7,409$6,763$6,170$5,626$4,294
10 years$7,225$6,531$5,896$5,319$4,793$3,532
11 years$6,501$5,814$5,191$4,629$4,122$2,930
12 years$5,898$5,218$4,607$4,060$3,572$2,447
13 years$5,389$4,716$4,116$3,584$3,115$2,055
14 years$4,952$4,286$3,698$3,182$2,731$1,734
15 years$4,575$3,916$3,339$2,838$2,404$1,468
16 years$4,244$3,593$3,027$2,541$2,125$1,246
17 years$3,953$3,309$2,755$2,283$1,884$1,061
18 years$3,695$3,057$2,515$2,057$1,675$905
19 years$3,464$2,833$2,302$1,859$1,493$773
20 years$3,256$2,633$2,113$1,684$1,334$662
21 years$3,068$2,453$1,943$1,528$1,194$567
22 years$2,898$2,289$1,791$1,389$1,070$487
23 years$2,743$2,141$1,654$1,265$960$418
24 years$2,600$2,006$1,529$1,154$863$359
25 years$2,470$1,883$1,417$1,054$777$309
26 years$2,350$1,769$1,314$964$700$266
27 years$2,238$1,665$1,220$882$631$229
28 years$2,135$1,569$1,134$808$569$197
29 years$2,039$1,480$1,055$741$514$170
30 years$1,950$1,398$983$680$464$146
31 years$1,867$1,322$916$625$420$126
32 years$1,789$1,250$855$574$380$109
33 years$1,716$1,184$798$528$344$94
34 years$1,647$1,122$746$486$311$81
35 years$1,582$1,065$697$447$282$70
36 years$1,522$1,010$652$412$255$60
37 years$1,464$960$611$379$231$52
38 years$1,410$912$572$350$210$45
39 years$1,358$867$536$322$190$39
40 years$1,310$825$502$297$173$33
41 years$1,264$785$471$274$157$29
42 years$1,220$748$442$253$142$25
43 years$1,178$713$414$234$129$22
44 years$1,138$679$389$216$117$19
45 years$1,100$648$365$199$106$16
46 years$1,064$618$343$184$96$14
47 years$1,030$590$322$170$88$12
48 years$997$563$303$157$80$10
49 years$965$538$285$145$72$9
50 years$935$514$268$134$66$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $958,000, adding $3,855 every year, while hoping to spend $55,734 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: 29/48/23 Blend
52$958,000$958,000$958,000$958,000
53$1,059,692$1,008,918$994,069$1,082,721
54$1,108,481$999,055$968,070$1,091,013
55$1,160,377$986,840$939,332$1,094,730
56$1,215,640$972,100$907,704$1,097,568
57$1,274,553$954,650$873,030$1,099,488
58$1,337,424$934,295$835,143$1,100,450
59$1,404,594$910,828$793,873$1,100,418
60$1,476,433$884,029$749,039$1,099,359
61$1,553,351$853,668$700,453$1,097,240
62$1,635,793$819,498$647,918$1,094,035
63$1,724,250$781,259$591,229$1,089,720
64$1,819,260$738,678$530,172$1,084,280
65$1,921,414$691,463$464,523$1,077,702
66$2,031,360$639,307$394,046$1,069,984
67$2,149,811$581,885$318,499$1,061,132
68$2,277,548$518,853$237,625$1,051,163
69$2,415,431$449,850$151,158$1,040,105
70$2,564,403$374,491$58,820$1,028,000
71$2,725,502$292,371$0$1,014,908
72$2,899,869$203,063$0$1,010,653
73$3,088,757$106,114$0$1,021,625
74$3,293,543$1,047$0$1,033,572
75$3,515,745$0$0$1,046,724
76$3,757,028$0$0$1,120,842
77$4,019,227$0$0$1,202,121
78$4,304,358$0$0$1,290,650
79$4,614,640$0$0$1,387,134
80$4,952,514$0$0$1,492,352
81$5,320,669$0$0$1,607,160
82$5,722,059$0$0$1,732,500
83$6,159,939$0$0$1,869,409
84$6,637,892$0$0$2,019,029
85$7,159,860$0$0$2,182,616
86$7,730,182$0$0$2,361,556
87$8,353,638$0$0$2,557,371
88$9,035,488$0$0$2,771,740
89$9,781,526$0$0$3,006,510
90$10,598,128$0$0$3,263,716
91$11,492,318$0$0$3,545,600
92$12,471,831$0$0$3,854,628
93$13,545,184$0$0$4,193,520
94$14,721,758$0$0$4,565,269
95$16,011,883$0$0$4,973,173
96$17,426,940$0$0$5,420,864
97$18,979,460$0$0$5,912,343
98$20,683,249$0$0$6,452,017
99$22,553,513$0$0$7,044,740
100$24,607,002$0$0$7,695,863