Can I retire at age 53 with 959,000?

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 $959,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.5%
1 years$79,193$78,488$77,800$77,128$76,472$74,442
2 years$39,205$38,474$37,767$37,081$36,415$34,384
3 years$25,877$25,143$24,438$23,758$23,103$21,135
4 years$19,214$18,483$17,784$17,116$16,477$14,587
5 years$15,218$14,491$13,801$13,147$12,526$10,718
6 years$12,554$11,833$11,154$10,514$9,911$8,188
7 years$10,652$9,937$9,269$8,644$8,061$6,422
8 years$9,227$8,518$7,861$7,251$6,687$5,132
9 years$8,119$7,417$6,770$6,176$5,631$4,159
10 years$7,232$6,537$5,903$5,324$4,798$3,407
11 years$6,508$5,820$5,196$4,634$4,127$2,814
12 years$5,905$5,224$4,612$4,064$3,576$2,339
13 years$5,395$4,721$4,120$3,588$3,118$1,955
14 years$4,958$4,291$3,702$3,185$2,734$1,641
15 years$4,579$3,920$3,342$2,841$2,407$1,383
16 years$4,249$3,596$3,030$2,543$2,127$1,168
17 years$3,957$3,312$2,758$2,285$1,886$989
18 years$3,698$3,061$2,517$2,059$1,677$840
19 years$3,467$2,836$2,304$1,861$1,495$714
20 years$3,259$2,636$2,115$1,685$1,335$608
21 years$3,071$2,455$1,945$1,530$1,195$518
22 years$2,901$2,292$1,793$1,391$1,071$442
23 years$2,745$2,143$1,655$1,267$961$378
24 years$2,603$2,008$1,531$1,155$864$323
25 years$2,472$1,885$1,418$1,055$778$276
26 years$2,352$1,771$1,315$965$700$236
27 years$2,241$1,667$1,221$883$631$202
28 years$2,137$1,571$1,135$809$570$173
29 years$2,041$1,482$1,056$742$515$148
30 years$1,952$1,399$984$681$465$127
31 years$1,869$1,323$917$625$420$109
32 years$1,791$1,252$856$575$380$93
33 years$1,717$1,185$799$528$344$80
34 years$1,649$1,124$747$486$312$69
35 years$1,584$1,066$698$448$282$59
36 years$1,523$1,011$653$412$256$51
37 years$1,466$961$611$380$232$43
38 years$1,411$913$572$350$210$37
39 years$1,360$868$536$323$190$32
40 years$1,311$826$503$298$173$27
41 years$1,265$786$471$275$157$23
42 years$1,221$749$442$254$142$20
43 years$1,179$713$415$234$129$17
44 years$1,139$680$389$216$117$15
45 years$1,102$649$366$200$106$13
46 years$1,065$619$343$184$97$11
47 years$1,031$590$323$170$88$9
48 years$998$564$303$157$80$8
49 years$966$538$285$145$72$7
50 years$936$514$268$134$66$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $959,000, adding $3,523 every year, while hoping to spend $56,092 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: 75/11/14 Blend
52$959,000$959,000$959,000$959,000
53$1,060,452$1,009,625$994,760$1,136,581
54$1,108,937$999,415$968,403$1,177,144
55$1,160,487$986,825$939,284$1,214,247
56$1,215,356$971,679$907,249$1,253,381
57$1,273,821$953,790$872,141$1,294,732
58$1,336,187$932,962$833,794$1,338,504
59$1,402,785$908,985$792,033$1,384,923
60$1,473,982$881,637$746,679$1,434,239
61$1,550,176$850,685$697,540$1,486,728
62$1,631,806$815,881$644,420$1,542,695
63$1,719,353$776,961$587,110$1,602,478
64$1,813,344$733,650$525,396$1,666,450
65$1,914,359$685,653$459,051$1,735,023
66$2,023,033$632,659$387,838$1,808,653
67$2,140,064$574,341$311,513$1,887,842
68$2,266,219$510,352$229,817$1,973,149
69$2,402,340$440,326$142,482$2,065,187
70$2,549,351$363,875$49,228$2,164,636
71$2,708,270$280,589$0$2,272,248
72$2,880,213$190,038$0$2,396,363
73$3,066,409$91,764$0$2,538,724
74$3,268,208$0$0$2,693,027
75$3,487,095$0$0$2,862,223
76$3,724,702$0$0$3,057,980
77$3,982,826$0$0$3,270,674
78$4,263,442$0$0$3,501,938
79$4,568,723$0$0$3,753,566
80$4,901,061$0$0$4,027,535
81$5,263,087$0$0$4,326,019
82$5,657,697$0$0$4,651,410
83$6,088,076$0$0$5,006,341
84$6,557,733$0$0$5,393,711
85$7,070,528$0$0$5,816,709
86$7,630,711$0$0$6,278,847
87$8,242,961$0$0$6,783,992
88$8,912,429$0$0$7,336,399
89$9,644,786$0$0$7,940,756
90$10,446,277$0$0$8,602,223
91$11,323,779$0$0$9,326,482
92$12,284,863$0$0$10,119,790
93$13,337,868$0$0$10,989,039
94$14,491,979$0$0$11,941,818
95$15,757,309$0$0$12,986,486
96$17,144,997$0$0$14,132,247
97$18,667,314$0$0$15,389,242
98$20,337,773$0$0$16,768,639
99$22,171,260$0$0$18,282,739
100$24,184,173$0$0$19,945,095