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%16%
1 years$79,111$78,406$77,719$77,048$76,392$74,515
2 years$39,164$38,434$37,727$37,042$36,377$34,498
3 years$25,850$25,117$24,412$23,733$23,079$21,256
4 years$19,194$18,464$17,766$17,098$16,460$14,707
5 years$15,202$14,476$13,787$13,133$12,513$10,835
6 years$12,541$11,821$11,142$10,503$9,901$8,300
7 years$10,641$9,927$9,259$8,635$8,052$6,528
8 years$9,217$8,509$7,852$7,244$6,680$5,233
9 years$8,110$7,409$6,763$6,170$5,626$4,254
10 years$7,225$6,531$5,896$5,319$4,793$3,495
11 years$6,501$5,814$5,191$4,629$4,122$2,896
12 years$5,898$5,218$4,607$4,060$3,572$2,415
13 years$5,389$4,716$4,116$3,584$3,115$2,026
14 years$4,952$4,286$3,698$3,182$2,731$1,706
15 years$4,575$3,916$3,339$2,838$2,404$1,442
16 years$4,244$3,593$3,027$2,541$2,125$1,223
17 years$3,953$3,309$2,755$2,283$1,884$1,040
18 years$3,695$3,057$2,515$2,057$1,675$886
19 years$3,464$2,833$2,302$1,859$1,493$756
20 years$3,256$2,633$2,113$1,684$1,334$646
21 years$3,068$2,453$1,943$1,528$1,194$553
22 years$2,898$2,289$1,791$1,389$1,070$473
23 years$2,743$2,141$1,654$1,265$960$406
24 years$2,600$2,006$1,529$1,154$863$348
25 years$2,470$1,883$1,417$1,054$777$299
26 years$2,350$1,769$1,314$964$700$257
27 years$2,238$1,665$1,220$882$631$221
28 years$2,135$1,569$1,134$808$569$190
29 years$2,039$1,480$1,055$741$514$163
30 years$1,950$1,398$983$680$464$141
31 years$1,867$1,322$916$625$420$121
32 years$1,789$1,250$855$574$380$104
33 years$1,716$1,184$798$528$344$90
34 years$1,647$1,122$746$486$311$77
35 years$1,582$1,065$697$447$282$66
36 years$1,522$1,010$652$412$255$57
37 years$1,464$960$611$379$231$49
38 years$1,410$912$572$350$210$43
39 years$1,358$867$536$322$190$37
40 years$1,310$825$502$297$173$32
41 years$1,264$785$471$274$157$27
42 years$1,220$748$442$253$142$23
43 years$1,178$713$414$234$129$20
44 years$1,138$679$389$216$117$17
45 years$1,100$648$365$199$106$15
46 years$1,064$618$343$184$96$13
47 years$1,030$590$322$170$88$11
48 years$997$563$303$157$80$10
49 years$965$538$285$145$72$8
50 years$935$514$268$134$66$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $958,000, adding $5,163 every year, while hoping to spend $41,270 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: 36/46/18 Blend
52$958,000$958,000$958,000$958,000
53$1,061,042$1,010,268$995,419$1,093,261
54$1,125,357$1,015,860$984,854$1,122,724
55$1,194,849$1,020,343$972,553$1,150,258
56$1,270,003$1,023,619$958,412$1,179,116
57$1,351,351$1,025,583$942,326$1,209,440
58$1,439,478$1,026,126$924,184$1,241,388
59$1,535,028$1,025,130$903,867$1,275,137
60$1,638,709$1,022,469$881,255$1,310,884
61$1,751,299$1,018,012$856,219$1,348,852
62$1,873,655$1,011,619$828,626$1,389,287
63$2,006,719$1,003,139$798,336$1,432,465
64$2,151,526$992,415$765,202$1,478,693
65$2,309,218$979,279$729,073$1,528,316
66$2,481,049$963,555$689,787$1,581,716
67$2,668,400$945,052$647,179$1,639,319
68$2,872,790$923,574$601,073$1,701,598
69$3,095,893$898,907$551,287$1,769,083
70$3,339,550$870,829$497,631$1,842,360
71$3,605,788$839,104$439,906$1,922,083
72$3,896,839$803,481$377,903$2,008,977
73$4,215,160$763,694$311,406$2,103,850
74$4,563,456$719,465$240,188$2,207,598
75$4,944,706$670,497$164,012$2,321,215
76$5,362,191$616,476$82,631$2,445,807
77$5,819,523$557,071$0$2,582,597
78$6,320,680$491,933$0$2,733,757
79$6,870,043$420,692$0$2,916,972
80$7,472,437$342,956$0$3,118,080
81$8,133,178$258,313$0$3,338,992
82$8,858,119$166,327$0$3,581,818
83$9,653,708$66,537$0$3,848,893
84$10,527,046$0$0$4,142,801
85$11,485,958$0$0$4,487,424
86$12,539,061$0$0$4,903,029
87$13,695,849$0$0$5,359,699
88$14,966,780$0$0$5,861,581
89$16,363,376$0$0$6,413,243
90$17,898,329$0$0$7,019,719
91$19,585,623$0$0$7,686,553
92$21,440,663$0$0$8,419,856
93$23,480,423$0$0$9,226,358
94$25,723,601$0$0$10,113,474
95$28,190,802$0$0$11,089,377
96$30,904,723$0$0$12,163,068
97$33,890,376$0$0$13,344,466
98$37,175,317$0$0$14,644,502
99$40,789,908$0$0$16,075,216
100$44,767,602$0$0$17,649,877