Can I retire at age 53 with 966,000?

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 $966,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.7%
1 years$79,771$79,061$78,368$77,691$77,030$74,925
2 years$39,491$38,755$38,043$37,351$36,681$34,575
3 years$26,066$25,327$24,616$23,931$23,272$21,232
4 years$19,354$18,618$17,914$17,241$16,598$14,639
5 years$15,329$14,597$13,902$13,243$12,617$10,745
6 years$12,646$11,919$11,235$10,590$9,984$8,200
7 years$10,730$10,010$9,336$8,707$8,119$6,424
8 years$9,294$8,580$7,918$7,304$6,736$5,128
9 years$8,178$7,471$6,820$6,221$5,673$4,151
10 years$7,285$6,585$5,946$5,363$4,833$3,396
11 years$6,555$5,862$5,234$4,667$4,157$2,801
12 years$5,948$5,262$4,645$4,094$3,602$2,326
13 years$5,434$4,755$4,150$3,614$3,141$1,941
14 years$4,994$4,322$3,729$3,208$2,754$1,627
15 years$4,613$3,948$3,367$2,861$2,424$1,369
16 years$4,280$3,623$3,053$2,562$2,143$1,155
17 years$3,986$3,336$2,778$2,302$1,900$977
18 years$3,725$3,083$2,536$2,075$1,689$828
19 years$3,493$2,857$2,321$1,874$1,506$703
20 years$3,283$2,655$2,130$1,698$1,345$597
21 years$3,094$2,473$1,960$1,541$1,204$508
22 years$2,922$2,308$1,806$1,401$1,079$433
23 years$2,766$2,159$1,668$1,276$968$369
24 years$2,622$2,023$1,542$1,164$870$315
25 years$2,490$1,898$1,428$1,063$783$269
26 years$2,369$1,784$1,325$972$706$230
27 years$2,257$1,679$1,230$889$636$196
28 years$2,153$1,582$1,144$815$574$168
29 years$2,056$1,493$1,064$747$518$144
30 years$1,966$1,410$991$686$468$123
31 years$1,882$1,333$924$630$423$105
32 years$1,804$1,261$862$579$383$90
33 years$1,730$1,194$805$532$347$77
34 years$1,661$1,132$752$490$314$66
35 years$1,596$1,073$703$451$284$56
36 years$1,534$1,019$658$415$258$48
37 years$1,476$968$616$383$233$41
38 years$1,422$920$577$353$212$35
39 years$1,370$874$540$325$192$30
40 years$1,321$832$506$300$174$26
41 years$1,274$792$475$277$158$22
42 years$1,230$754$445$255$143$19
43 years$1,188$719$418$236$130$16
44 years$1,148$685$392$218$118$14
45 years$1,110$653$368$201$107$12
46 years$1,073$623$346$186$97$10
47 years$1,038$595$325$172$88$9
48 years$1,005$568$305$159$80$8
49 years$974$542$287$146$73$6
50 years$943$518$270$135$66$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $966,000, adding $2,687 every year, while hoping to spend $23,215 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: 31/43/26 Blend
52$966,000$966,000$966,000$966,000
53$1,067,304$1,016,106$1,001,133$1,091,791
54$1,151,468$1,041,194$1,009,970$1,135,922
55$1,243,439$1,066,734$1,018,325$1,181,154
56$1,343,989$1,092,723$1,026,158$1,229,381
57$1,453,966$1,119,157$1,033,425$1,280,878
58$1,574,308$1,146,033$1,040,082$1,335,953
59$1,706,044$1,173,345$1,046,081$1,394,943
60$1,850,308$1,201,086$1,051,372$1,458,217
61$2,008,349$1,229,250$1,055,903$1,526,186
62$2,181,545$1,257,827$1,059,620$1,599,301
63$2,371,409$1,286,806$1,062,464$1,678,060
64$2,579,610$1,316,178$1,064,374$1,763,011
65$2,807,987$1,345,927$1,065,287$1,854,759
66$3,058,564$1,376,040$1,065,137$1,953,971
67$3,333,572$1,406,500$1,063,853$2,061,382
68$3,635,465$1,437,288$1,061,361$2,177,804
69$3,966,951$1,468,383$1,057,585$2,304,132
70$4,331,009$1,499,763$1,052,443$2,441,350
71$4,730,923$1,531,402$1,045,851$2,590,547
72$5,170,310$1,563,274$1,037,719$2,752,923
73$5,653,154$1,595,347$1,027,956$2,929,800
74$6,183,846$1,627,590$1,016,463$3,122,636
75$6,767,222$1,659,965$1,003,138$3,333,041
76$7,408,610$1,692,435$987,875$3,562,789
77$8,113,881$1,724,956$970,561$3,813,834
78$8,889,501$1,757,483$951,079$4,088,336
79$9,742,596$1,789,966$929,306$4,388,673
80$10,681,018$1,822,351$905,115$4,717,467
81$11,713,416$1,854,581$878,370$5,077,613
82$12,849,321$1,886,592$848,932$5,472,301
83$14,099,234$1,918,317$816,654$5,905,046
84$15,474,725$1,949,684$781,381$6,379,730
85$16,988,544$1,980,616$742,954$6,900,629
86$18,654,737$2,011,028$701,205$7,472,458
87$20,488,783$2,040,831$655,959$8,100,419
88$22,507,737$2,069,929$607,031$8,790,245
89$24,730,390$2,098,220$554,230$9,548,258
90$27,177,450$2,125,593$497,357$10,381,429
91$29,871,734$2,151,931$436,203$11,297,444
92$32,838,384$2,177,109$370,549$12,304,776
93$36,105,104$2,200,991$300,166$13,412,768
94$39,702,421$2,223,436$224,818$14,631,721
95$43,663,974$2,244,291$144,256$15,972,991
96$48,026,830$2,263,392$58,220$17,449,098
97$52,831,836$2,280,567$0$19,073,844
98$58,123,999$2,295,631$0$20,871,768
99$63,952,918$2,308,388$0$22,868,166
100$70,373,245$2,318,628$0$25,065,445