Can I retire at age 53 with 961,000?

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 $961,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$79,358$78,652$77,962$77,289$76,631$75,894
2 years$39,286$38,555$37,846$37,158$36,491$35,749
3 years$25,931$25,196$24,489$23,808$23,152$22,427
4 years$19,254$18,522$17,821$17,152$16,512$15,810
5 years$15,249$14,521$13,830$13,174$12,552$11,876
6 years$12,580$11,858$11,177$10,536$9,932$9,282
7 years$10,675$9,958$9,288$8,662$8,077$7,453
8 years$9,246$8,536$7,877$7,266$6,701$6,103
9 years$8,135$7,432$6,784$6,189$5,643$5,072
10 years$7,248$6,551$5,915$5,335$4,808$4,262
11 years$6,522$5,832$5,207$4,643$4,135$3,615
12 years$5,917$5,234$4,621$4,073$3,584$3,088
13 years$5,406$4,730$4,129$3,596$3,125$2,654
14 years$4,968$4,300$3,710$3,192$2,739$2,292
15 years$4,589$3,928$3,349$2,847$2,412$1,987
16 years$4,258$3,604$3,037$2,549$2,132$1,729
17 years$3,966$3,319$2,763$2,290$1,890$1,509
18 years$3,706$3,067$2,523$2,064$1,681$1,321
19 years$3,474$2,842$2,309$1,865$1,498$1,158
20 years$3,266$2,641$2,119$1,689$1,338$1,017
21 years$3,078$2,460$1,949$1,533$1,197$895
22 years$2,907$2,297$1,797$1,394$1,073$789
23 years$2,751$2,148$1,659$1,269$963$696
24 years$2,609$2,012$1,534$1,158$866$615
25 years$2,478$1,889$1,421$1,057$779$543
26 years$2,357$1,775$1,318$967$702$481
27 years$2,245$1,670$1,224$885$633$426
28 years$2,142$1,574$1,138$811$571$377
29 years$2,046$1,485$1,059$743$516$334
30 years$1,956$1,402$986$682$466$297
31 years$1,873$1,326$919$627$421$263
32 years$1,794$1,254$858$576$381$234
33 years$1,721$1,188$801$530$345$208
34 years$1,652$1,126$748$487$312$184
35 years$1,587$1,068$700$449$283$164
36 years$1,526$1,014$654$413$256$146
37 years$1,469$963$613$381$232$129
38 years$1,414$915$574$351$211$115
39 years$1,363$870$537$323$191$102
40 years$1,314$828$504$298$173$91
41 years$1,268$788$472$275$157$81
42 years$1,223$750$443$254$143$72
43 years$1,182$715$416$235$129$64
44 years$1,142$681$390$217$117$57
45 years$1,104$650$366$200$107$51
46 years$1,068$620$344$185$97$45
47 years$1,033$592$323$171$88$40
48 years$1,000$565$304$158$80$36
49 years$968$539$286$146$72$32
50 years$938$515$269$135$66$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $961,000, adding $2,389 every year, while hoping to spend $40,072 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: 54/17/29 Blend
52$961,000$961,000$961,000$961,000
53$1,061,486$1,010,553$995,658$1,110,115
54$1,127,122$1,017,434$986,376$1,150,916
55$1,198,109$1,023,309$975,440$1,191,027
56$1,274,951$1,028,086$962,753$1,233,905
57$1,358,202$1,031,669$948,211$1,279,832
58$1,448,471$1,033,953$931,709$1,329,118
59$1,546,427$1,034,829$913,133$1,382,109
60$1,652,806$1,034,179$892,366$1,439,188
61$1,768,418$1,031,879$869,287$1,500,777
62$1,894,154$1,027,799$843,765$1,567,345
63$2,030,994$1,021,797$815,667$1,639,410
64$2,180,016$1,013,725$784,852$1,717,545
65$2,342,406$1,003,427$751,174$1,802,384
66$2,519,472$990,735$714,478$1,894,628
67$2,712,649$975,472$674,604$1,995,054
68$2,923,521$957,452$631,385$2,104,520
69$3,153,828$936,475$584,644$2,223,973
70$3,405,488$912,332$534,199$2,354,463
71$3,680,611$884,799$479,859$2,497,148
72$3,981,522$853,643$421,422$2,653,309
73$4,310,778$818,612$358,681$2,824,363
74$4,671,197$779,444$291,416$3,011,874
75$5,065,882$735,859$219,401$3,217,569
76$5,498,249$687,563$142,398$3,443,358
77$5,972,060$634,243$60,158$3,691,351
78$6,491,458$575,570$0$3,963,876
79$7,061,008$511,194$0$4,272,049
80$7,685,737$440,748$0$4,630,588
81$8,371,179$363,841$0$5,024,085
82$9,123,433$280,064$0$5,456,094
83$9,949,217$188,981$0$5,930,533
84$10,855,930$90,133$0$6,451,724
85$11,851,722$0$0$7,024,430
86$12,945,572$0$0$7,657,074
87$14,147,371$0$0$8,370,774
88$15,468,016$0$0$9,155,150
89$16,919,512$0$0$10,017,346
90$18,515,084$0$0$10,965,228
91$20,269,303$0$0$12,007,468
92$22,198,220$0$0$13,153,615
93$24,319,523$0$0$14,414,192
94$26,652,697$0$0$15,800,795
95$29,219,211$0$0$17,326,196
96$32,042,720$0$0$19,004,470
97$35,149,285$0$0$20,851,124
98$38,567,624$0$0$22,883,245
99$42,329,377$0$0$25,119,660
100$46,469,405$0$0$27,581,113