Can I retire at age 53 with 967,000?

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 $967,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.1%
1 years$79,854$79,143$78,449$77,771$77,110$74,285
2 years$39,532$38,795$38,082$37,390$36,719$33,905
3 years$26,093$25,353$24,642$23,956$23,296$20,581
4 years$19,374$18,637$17,933$17,259$16,615$14,019
5 years$15,345$14,612$13,917$13,257$12,630$10,161
6 years$12,659$11,932$11,247$10,601$9,994$7,652
7 years$10,741$10,020$9,346$8,716$8,128$5,914
8 years$9,304$8,589$7,926$7,312$6,743$4,654
9 years$8,186$7,478$6,827$6,228$5,678$3,713
10 years$7,293$6,592$5,952$5,369$4,838$2,992
11 years$6,562$5,868$5,240$4,672$4,161$2,430
12 years$5,954$5,267$4,650$4,098$3,606$1,986
13 years$5,440$4,760$4,155$3,618$3,144$1,631
14 years$4,999$4,327$3,733$3,212$2,756$1,344
15 years$4,618$3,952$3,370$2,864$2,427$1,112
16 years$4,284$3,626$3,056$2,565$2,145$922
17 years$3,990$3,340$2,781$2,304$1,902$766
18 years$3,729$3,086$2,538$2,077$1,691$638
19 years$3,496$2,860$2,324$1,876$1,507$532
20 years$3,287$2,658$2,133$1,699$1,346$444
21 years$3,097$2,476$1,962$1,542$1,205$371
22 years$2,925$2,311$1,808$1,402$1,080$310
23 years$2,768$2,161$1,669$1,277$969$259
24 years$2,625$2,025$1,544$1,165$871$217
25 years$2,493$1,900$1,430$1,064$784$182
26 years$2,372$1,786$1,326$973$706$152
27 years$2,259$1,681$1,231$890$637$128
28 years$2,155$1,584$1,145$816$575$107
29 years$2,059$1,494$1,065$748$519$90
30 years$1,968$1,411$992$687$469$75
31 years$1,884$1,334$925$631$424$63
32 years$1,806$1,262$863$579$383$53
33 years$1,732$1,195$806$533$347$44
34 years$1,662$1,133$753$490$314$37
35 years$1,597$1,075$704$451$285$31
36 years$1,536$1,020$659$416$258$26
37 years$1,478$969$616$383$234$22
38 years$1,423$921$577$353$212$19
39 years$1,371$875$541$325$192$16
40 years$1,322$833$507$300$174$13
41 years$1,275$793$475$277$158$11
42 years$1,231$755$446$256$143$9
43 years$1,189$719$418$236$130$8
44 years$1,149$686$393$218$118$6
45 years$1,111$654$369$201$107$5
46 years$1,074$624$346$186$97$5
47 years$1,040$595$325$172$88$4
48 years$1,006$568$306$159$80$3
49 years$975$543$287$147$73$3
50 years$944$518$270$136$66$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $967,000, adding $5,191 every year, while hoping to spend $54,928 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: 42/47/11 Blend
52$967,000$967,000$967,000$967,000
53$1,070,989$1,019,738$1,004,749$1,112,310
54$1,121,786$1,011,262$979,965$1,133,262
55$1,175,925$1,000,530$952,510$1,150,035
56$1,233,686$987,373$922,236$1,166,973
57$1,295,380$971,612$888,990$1,184,114
58$1,361,347$953,059$852,609$1,201,503
59$1,431,958$931,513$812,925$1,219,196
60$1,507,622$906,761$769,762$1,237,255
61$1,588,786$878,579$722,935$1,255,757
62$1,675,942$846,729$672,253$1,274,790
63$1,769,628$810,958$617,513$1,294,457
64$1,870,436$771,001$558,506$1,314,876
65$1,979,016$726,576$495,012$1,336,185
66$2,096,082$677,385$426,801$1,358,541
67$2,222,418$623,112$353,635$1,382,124
68$2,358,885$563,425$275,262$1,407,140
69$2,506,430$497,971$191,421$1,433,825
70$2,666,092$426,379$101,841$1,462,446
71$2,839,017$348,254$6,236$1,493,306
72$3,026,461$263,183$0$1,526,750
73$3,229,807$170,726$0$1,574,407
74$3,450,575$70,419$0$1,626,987
75$3,690,439$0$0$1,684,290
76$3,951,237$0$0$1,766,681
77$4,234,996$0$0$1,896,059
78$4,543,940$0$0$2,037,033
79$4,880,521$0$0$2,190,735
80$5,247,437$0$0$2,358,411
81$5,647,654$0$0$2,541,432
82$6,084,441$0$0$2,741,310
83$6,561,392$0$0$2,959,706
84$7,082,468$0$0$3,198,449
85$7,652,025$0$0$3,459,556
86$8,274,862$0$0$3,745,243
87$8,956,262$0$0$4,057,955
88$9,702,041$0$0$4,400,379
89$10,518,606$0$0$4,775,480
90$11,413,009$0$0$5,186,517
91$12,393,019$0$0$5,637,085
92$13,467,191$0$0$6,131,139
93$14,644,945$0$0$6,673,037
94$15,936,660$0$0$7,267,580
95$17,353,764$0$0$7,920,053
96$18,908,847$0$0$8,636,281
97$20,615,776$0$0$9,422,678
98$22,489,826$0$0$10,286,311
99$24,547,823$0$0$11,234,964
100$26,808,303$0$0$12,277,211