Can I retire at age 53 with 962,000?

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 $962,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$79,441$78,733$78,043$77,369$76,711$76,132
2 years$39,327$38,595$37,885$37,197$36,529$35,945
3 years$25,958$25,222$24,514$23,832$23,176$22,605
4 years$19,274$18,541$17,840$17,170$16,529$15,976
5 years$15,265$14,536$13,845$13,188$12,565$12,032
6 years$12,593$11,870$11,188$10,547$9,942$9,429
7 years$10,686$9,968$9,298$8,671$8,086$7,593
8 years$9,256$8,545$7,885$7,274$6,708$6,235
9 years$8,144$7,440$6,791$6,196$5,649$5,196
10 years$7,255$6,558$5,921$5,341$4,813$4,380
11 years$6,528$5,838$5,213$4,648$4,140$3,726
12 years$5,923$5,240$4,626$4,077$3,587$3,193
13 years$5,411$4,735$4,133$3,599$3,128$2,753
14 years$4,973$4,304$3,714$3,195$2,742$2,385
15 years$4,594$3,932$3,353$2,849$2,414$2,075
16 years$4,262$3,608$3,040$2,551$2,134$1,812
17 years$3,970$3,322$2,766$2,292$1,892$1,587
18 years$3,710$3,070$2,525$2,066$1,682$1,394
19 years$3,478$2,845$2,312$1,867$1,499$1,226
20 years$3,270$2,644$2,122$1,691$1,339$1,081
21 years$3,081$2,463$1,951$1,534$1,199$955
22 years$2,910$2,299$1,799$1,395$1,074$845
23 years$2,754$2,150$1,661$1,271$964$748
24 years$2,611$2,015$1,536$1,159$867$663
25 years$2,480$1,891$1,422$1,058$780$589
26 years$2,359$1,777$1,319$968$703$523
27 years$2,248$1,672$1,225$886$633$465
28 years$2,144$1,576$1,139$812$572$414
29 years$2,048$1,486$1,060$744$516$368
30 years$1,958$1,404$987$683$466$328
31 years$1,875$1,327$920$627$422$292
32 years$1,796$1,256$859$576$381$260
33 years$1,723$1,189$802$530$345$232
34 years$1,654$1,127$749$488$312$207
35 years$1,589$1,069$700$449$283$185
36 years$1,528$1,015$655$414$256$165
37 years$1,470$964$613$381$232$147
38 years$1,416$916$574$351$211$132
39 years$1,364$871$538$324$191$117
40 years$1,315$829$504$299$173$105
41 years$1,269$789$473$276$157$94
42 years$1,225$751$444$254$143$84
43 years$1,183$716$416$235$129$75
44 years$1,143$682$391$217$118$67
45 years$1,105$651$367$200$107$60
46 years$1,069$621$345$185$97$53
47 years$1,034$592$324$171$88$48
48 years$1,001$565$304$158$80$43
49 years$969$540$286$146$73$38
50 years$939$516$269$135$66$34

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $962,000, adding $6,832 every year, while hoping to spend $20,474 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: 66/25/9 Blend
52$962,000$962,000$962,000$962,000
53$1,067,171$1,016,185$1,001,274$1,135,221
54$1,154,238$1,044,194$1,013,033$1,209,367
55$1,249,500$1,072,889$1,024,499$1,287,301
56$1,353,771$1,102,283$1,035,641$1,371,943
57$1,467,948$1,132,386$1,046,427$1,463,944
58$1,593,017$1,163,212$1,056,821$1,564,022
59$1,730,066$1,194,771$1,066,786$1,672,968
60$1,880,294$1,227,075$1,076,284$1,791,653
61$2,045,017$1,260,136$1,085,273$1,921,035
62$2,225,690$1,293,963$1,093,711$2,062,168
63$2,423,913$1,328,570$1,101,553$2,216,217
64$2,641,447$1,363,964$1,108,749$2,384,460
65$2,880,233$1,400,157$1,115,251$2,568,308
66$3,142,411$1,437,159$1,121,006$2,769,314
67$3,430,335$1,474,978$1,125,958$2,989,188
68$3,746,600$1,513,623$1,130,049$3,229,814
69$4,094,066$1,553,103$1,133,218$3,493,268
70$4,475,880$1,593,424$1,135,400$3,781,836
71$4,895,512$1,634,594$1,136,528$4,098,038
72$5,356,783$1,676,619$1,136,531$4,444,647
73$5,863,906$1,719,503$1,135,335$4,824,722
74$6,421,517$1,763,253$1,132,862$5,241,629
75$7,034,730$1,807,869$1,129,031$5,699,081
76$7,709,173$1,853,356$1,123,755$6,201,164
77$8,451,053$1,899,714$1,116,944$6,752,384
78$9,267,203$1,946,944$1,108,505$7,357,703
79$10,165,157$1,995,043$1,098,339$8,022,590
80$11,153,212$2,044,009$1,086,342$8,753,071
81$12,240,511$2,093,837$1,072,406$9,555,784
82$13,437,130$2,144,522$1,056,418$10,438,044
83$14,754,168$2,196,055$1,038,260$11,407,913
84$16,203,858$2,248,426$1,017,806$12,474,273
85$17,799,676$2,301,623$994,927$13,646,910
86$19,556,473$2,355,633$969,487$14,936,609
87$21,490,612$2,410,437$941,344$16,355,255
88$23,620,123$2,466,018$910,348$17,915,941
89$25,964,875$2,522,352$876,344$19,633,100
90$28,546,760$2,579,415$839,169$21,522,631
91$31,389,901$2,637,178$798,653$23,602,057
92$34,520,881$2,695,609$754,617$25,890,688
93$37,968,991$2,754,674$706,877$28,409,801
94$41,766,509$2,814,333$655,237$31,182,843
95$45,949,000$2,874,543$599,495$34,235,654
96$50,555,658$2,935,256$539,439$37,596,706
97$55,629,671$2,996,419$474,845$41,297,378
98$61,218,629$3,057,975$405,484$45,372,245
99$67,374,975$3,119,862$331,114$49,859,413
100$74,156,497$3,182,010$251,482$54,800,870