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%12.1%
1 years$79,276$78,570$77,881$77,208$76,552$75,879
2 years$39,245$38,515$37,806$37,119$36,453$35,775
3 years$25,904$25,170$24,463$23,783$23,127$22,465
4 years$19,234$18,502$17,803$17,134$16,495$15,853
5 years$15,234$14,506$13,816$13,161$12,539$11,920
6 years$12,567$11,845$11,165$10,525$9,922$9,327
7 years$10,664$9,948$9,278$8,653$8,069$7,498
8 years$9,236$8,527$7,869$7,259$6,694$6,147
9 years$8,127$7,424$6,777$6,183$5,637$5,114
10 years$7,240$6,544$5,909$5,330$4,803$4,303
11 years$6,515$5,826$5,202$4,638$4,131$3,654
12 years$5,911$5,229$4,617$4,068$3,580$3,125
13 years$5,400$4,725$4,125$3,592$3,122$2,689
14 years$4,963$4,295$3,706$3,188$2,736$2,325
15 years$4,584$3,924$3,346$2,844$2,409$2,019
16 years$4,253$3,600$3,034$2,546$2,129$1,759
17 years$3,961$3,316$2,760$2,288$1,888$1,538
18 years$3,702$3,064$2,520$2,062$1,679$1,347
19 years$3,471$2,839$2,307$1,863$1,496$1,183
20 years$3,263$2,639$2,117$1,687$1,337$1,041
21 years$3,075$2,458$1,947$1,531$1,196$917
22 years$2,904$2,294$1,795$1,392$1,072$810
23 years$2,748$2,146$1,657$1,268$962$715
24 years$2,606$2,010$1,533$1,156$865$633
25 years$2,475$1,887$1,420$1,056$778$560
26 years$2,354$1,773$1,317$966$701$497
27 years$2,243$1,669$1,223$884$632$440
28 years$2,140$1,572$1,136$810$570$391
29 years$2,044$1,483$1,058$743$515$347
30 years$1,954$1,401$985$682$465$308
31 years$1,871$1,324$918$626$421$274
32 years$1,792$1,253$857$575$381$244
33 years$1,719$1,187$800$529$344$217
34 years$1,650$1,125$748$487$312$193
35 years$1,586$1,067$699$448$282$172
36 years$1,525$1,013$654$413$256$153
37 years$1,467$962$612$380$232$136
38 years$1,413$914$573$350$210$121
39 years$1,361$869$537$323$191$108
40 years$1,312$827$503$298$173$96
41 years$1,266$787$472$275$157$86
42 years$1,222$750$443$254$142$76
43 years$1,180$714$415$234$129$68
44 years$1,141$681$390$216$117$61
45 years$1,103$649$366$200$106$54
46 years$1,067$619$344$185$97$48
47 years$1,032$591$323$170$88$43
48 years$999$564$304$158$80$38
49 years$967$539$285$146$72$34
50 years$937$515$268$135$66$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $960,000, adding $4,492 every year, while hoping to spend $59,360 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: 60/11/29 Blend
52$960,000$960,000$960,000$960,000
53$1,062,553$1,011,673$996,793$1,117,698
54$1,107,775$998,087$967,028$1,142,282
55$1,155,620$981,845$934,275$1,162,379
56$1,206,293$962,755$898,373$1,183,077
57$1,260,018$940,613$859,151$1,204,451
58$1,317,040$915,203$816,432$1,226,585
59$1,377,625$886,295$770,030$1,249,572
60$1,442,067$853,647$719,750$1,273,522
61$1,510,685$817,004$665,389$1,298,554
62$1,583,831$776,093$606,735$1,324,806
63$1,661,887$730,627$543,567$1,352,433
64$1,745,276$680,304$475,652$1,381,608
65$1,834,457$624,802$402,750$1,412,528
66$1,929,936$563,781$324,607$1,445,410
67$2,032,268$496,885$240,959$1,480,502
68$2,142,060$423,733$151,532$1,518,080
69$2,259,979$343,925$56,038$1,558,453
70$2,386,758$257,039$0$1,601,966
71$2,523,201$162,628$0$1,663,200
72$2,670,191$60,219$0$1,747,820
73$2,828,697$0$0$1,839,050
74$2,999,783$0$0$1,943,668
75$3,184,622$0$0$2,064,630
76$3,384,498$0$0$2,195,495
77$3,600,825$0$0$2,337,197
78$3,835,157$0$0$2,490,762
79$4,089,204$0$0$2,657,318
80$4,364,843$0$0$2,838,107
81$4,664,141$0$0$3,034,494
82$4,989,372$0$0$3,247,979
83$5,343,034$0$0$3,480,215
84$5,727,880$0$0$3,733,018
85$6,146,936$0$0$4,008,389
86$6,603,532$0$0$4,308,527
87$7,101,334$0$0$4,635,855
88$7,644,375$0$0$4,993,038
89$8,237,095$0$0$5,383,010
90$8,884,382$0$0$5,809,000
91$9,591,616$0$0$6,274,564
92$10,364,720$0$0$6,783,618
93$11,210,216$0$0$7,340,469
94$12,135,284$0$0$7,949,864
95$13,147,830$0$0$8,617,029
96$14,256,560$0$0$9,347,717
97$15,471,061$0$0$10,148,266
98$16,801,892$0$0$11,025,654
99$18,260,681$0$0$11,987,566
100$19,860,233$0$0$13,042,469