Can I retire at age 53 with 960,000?

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 $960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$79,276$78,570$77,881$77,208$76,552$75,627
2 years$39,245$38,515$37,806$37,119$36,453$35,522
3 years$25,904$25,170$24,463$23,783$23,127$22,219
4 years$19,234$18,502$17,803$17,134$16,495$15,617
5 years$15,234$14,506$13,816$13,161$12,539$11,693
6 years$12,567$11,845$11,165$10,525$9,922$9,110
7 years$10,664$9,948$9,278$8,653$8,069$7,291
8 years$9,236$8,527$7,869$7,259$6,694$5,950
9 years$8,127$7,424$6,777$6,183$5,637$4,927
10 years$7,240$6,544$5,909$5,330$4,803$4,126
11 years$6,515$5,826$5,202$4,638$4,131$3,486
12 years$5,911$5,229$4,617$4,068$3,580$2,966
13 years$5,400$4,725$4,125$3,592$3,122$2,539
14 years$4,963$4,295$3,706$3,188$2,736$2,184
15 years$4,584$3,924$3,346$2,844$2,409$1,886
16 years$4,253$3,600$3,034$2,546$2,129$1,635
17 years$3,961$3,316$2,760$2,288$1,888$1,421
18 years$3,702$3,064$2,520$2,062$1,679$1,238
19 years$3,471$2,839$2,307$1,863$1,496$1,081
20 years$3,263$2,639$2,117$1,687$1,337$945
21 years$3,075$2,458$1,947$1,531$1,196$828
22 years$2,904$2,294$1,795$1,392$1,072$726
23 years$2,748$2,146$1,657$1,268$962$638
24 years$2,606$2,010$1,533$1,156$865$561
25 years$2,475$1,887$1,420$1,056$778$494
26 years$2,354$1,773$1,317$966$701$435
27 years$2,243$1,669$1,223$884$632$383
28 years$2,140$1,572$1,136$810$570$338
29 years$2,044$1,483$1,058$743$515$298
30 years$1,954$1,401$985$682$465$263
31 years$1,871$1,324$918$626$421$232
32 years$1,792$1,253$857$575$381$205
33 years$1,719$1,187$800$529$344$181
34 years$1,650$1,125$748$487$312$160
35 years$1,586$1,067$699$448$282$142
36 years$1,525$1,013$654$413$256$125
37 years$1,467$962$612$380$232$111
38 years$1,413$914$573$350$210$98
39 years$1,361$869$537$323$191$87
40 years$1,312$827$503$298$173$77
41 years$1,266$787$472$275$157$68
42 years$1,222$750$443$254$142$60
43 years$1,180$714$415$234$129$53
44 years$1,141$681$390$216$117$47
45 years$1,103$649$366$200$106$42
46 years$1,067$619$344$185$97$37
47 years$1,032$591$323$170$88$33
48 years$999$564$304$158$80$29
49 years$967$539$285$146$72$26
50 years$937$515$268$135$66$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $960,000, adding $2,102 every year, while hoping to spend $31,886 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: 46/48/6 Blend
52$960,000$960,000$960,000$960,000
53$1,060,088$1,009,208$994,328$1,107,038
54$1,134,291$1,024,733$993,712$1,155,046
55$1,214,993$1,039,950$992,006$1,203,590
56$1,302,825$1,054,810$989,141$1,255,498
57$1,398,479$1,069,261$985,042$1,311,091
58$1,502,716$1,083,247$979,634$1,370,723
59$1,616,376$1,096,709$972,834$1,434,784
60$1,740,381$1,109,583$964,559$1,503,704
61$1,875,747$1,121,800$954,719$1,577,958
62$2,023,593$1,133,288$943,222$1,658,072
63$2,185,150$1,143,969$929,970$1,744,624
64$2,361,772$1,153,761$914,861$1,838,253
65$2,554,953$1,162,575$897,789$1,939,666
66$2,766,335$1,170,318$878,642$2,049,640
67$2,997,728$1,176,890$857,303$2,169,036
68$3,251,123$1,182,184$833,650$2,298,802
69$3,528,715$1,186,089$807,554$2,439,986
70$3,832,919$1,188,482$778,883$2,593,744
71$4,166,397$1,189,238$747,495$2,761,352
72$4,532,079$1,188,220$713,246$2,944,218
73$4,933,193$1,185,285$675,982$3,143,898
74$5,373,295$1,180,280$635,542$3,362,105
75$5,856,299$1,173,042$591,761$3,600,734
76$6,386,520$1,163,399$544,464$3,861,874
77$6,968,709$1,151,170$493,468$4,147,831
78$7,608,101$1,136,160$438,582$4,461,148
79$8,310,461$1,118,166$379,608$4,804,634
80$9,082,141$1,096,969$316,338$5,181,386
81$9,930,138$1,072,340$248,555$5,594,822
82$10,862,163$1,044,035$176,032$6,048,714
83$11,886,708$1,011,797$98,533$6,547,222
84$13,013,129$975,352$15,811$7,094,937
85$14,251,735$934,411$0$7,696,924
86$15,613,884$888,669$0$8,363,408
87$17,112,089$837,803$0$9,097,296
88$18,760,137$781,470$0$9,904,391
89$20,573,218$719,310$0$10,792,211
90$22,568,069$650,939$0$11,769,048
91$24,763,132$575,954$0$12,844,047
92$27,178,723$493,928$0$14,027,292
93$29,837,233$404,410$0$15,329,906
94$32,763,328$306,923$0$16,764,153
95$35,984,189$200,965$0$18,343,558
96$39,529,768$86,003$0$20,083,037
97$43,433,063$0$0$21,999,035
98$47,730,440$0$0$24,130,036
99$52,461,966$0$0$26,526,478
100$57,671,793$0$0$29,165,316