Can I retire at age 53 with 840,000?

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 $840,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.8%
1 years$69,366$68,749$68,146$67,557$66,983$64,865
2 years$34,340$33,700$33,080$32,479$31,897$29,782
3 years$22,666$22,023$21,405$20,810$20,236$18,191
4 years$16,830$16,190$15,578$14,992$14,433$12,473
5 years$13,329$12,693$12,089$11,516$10,972$9,102
6 years$10,996$10,365$9,770$9,209$8,681$6,905
7 years$9,331$8,704$8,119$7,571$7,060$5,376
8 years$8,082$7,461$6,885$6,351$5,857$4,263
9 years$7,111$6,496$5,930$5,410$4,933$3,428
10 years$6,335$5,726$5,170$4,663$4,203$2,785
11 years$5,700$5,098$4,552$4,059$3,615$2,281
12 years$5,172$4,575$4,039$3,560$3,132$1,880
13 years$4,725$4,135$3,609$3,143$2,731$1,558
14 years$4,342$3,758$3,243$2,790$2,394$1,296
15 years$4,011$3,433$2,928$2,488$2,108$1,082
16 years$3,722$3,150$2,654$2,228$1,863$906
17 years$3,466$2,901$2,415$2,002$1,652$760
18 years$3,240$2,681$2,205$1,804$1,469$639
19 years$3,037$2,484$2,019$1,630$1,309$538
20 years$2,855$2,309$1,853$1,476$1,169$453
21 years$2,690$2,150$1,704$1,340$1,047$382
22 years$2,541$2,007$1,570$1,218$938$323
23 years$2,405$1,877$1,450$1,109$842$273
24 years$2,280$1,759$1,341$1,012$757$231
25 years$2,166$1,651$1,242$924$681$195
26 years$2,060$1,551$1,152$845$613$166
27 years$1,963$1,460$1,070$773$553$140
28 years$1,872$1,376$994$709$499$119
29 years$1,788$1,298$925$650$451$101
30 years$1,710$1,226$862$596$407$85
31 years$1,637$1,159$804$548$368$72
32 years$1,568$1,096$750$503$333$61
33 years$1,504$1,038$700$463$301$52
34 years$1,444$984$654$426$273$44
35 years$1,387$933$612$392$247$37
36 years$1,334$886$572$361$224$32
37 years$1,284$841$535$333$203$27
38 years$1,236$800$501$307$184$23
39 years$1,191$760$470$283$167$19
40 years$1,148$723$440$261$151$16
41 years$1,108$689$413$241$137$14
42 years$1,069$656$387$222$125$12
43 years$1,033$625$363$205$113$10
44 years$998$596$341$189$103$9
45 years$965$568$320$175$93$7
46 years$933$542$301$161$85$6
47 years$903$517$283$149$77$5
48 years$874$494$266$138$70$4
49 years$847$471$250$127$63$4
50 years$820$450$235$118$58$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $840,000, adding $2,255 every year, while hoping to spend $59,805 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: 47/42/11 Blend
52$840,000$840,000$840,000$840,000
53$928,006$883,486$870,466$968,689
54$959,031$863,145$835,995$976,639
55$991,215$839,802$798,364$978,891
56$1,024,615$813,249$757,405$979,984
57$1,059,289$783,261$712,941$979,831
58$1,095,300$749,604$664,788$978,338
59$1,132,715$712,029$612,753$975,410
60$1,171,606$670,273$556,634$970,945
61$1,212,049$624,055$496,221$964,836
62$1,254,127$573,083$431,293$956,971
63$1,297,928$517,044$361,621$947,233
64$1,343,547$455,609$286,966$935,498
65$1,391,085$388,431$207,076$921,638
66$1,440,654$315,142$121,691$905,518
67$1,492,370$235,353$30,537$886,998
68$1,546,361$148,656$0$865,930
69$1,602,766$54,615$0$849,996
70$1,661,732$0$0$835,536
71$1,723,420$0$0$840,658
72$1,788,004$0$0$872,472
73$1,855,673$0$0$905,832
74$1,926,631$0$0$940,842
75$2,001,100$0$0$977,615
76$2,079,320$0$0$1,016,275
77$2,161,552$0$0$1,056,955
78$2,248,082$0$0$1,099,801
79$2,339,219$0$0$1,144,970
80$2,435,299$0$0$1,192,636
81$2,536,690$0$0$1,242,986
82$2,643,793$0$0$1,296,226
83$2,757,043$0$0$1,352,580
84$2,876,917$0$0$1,412,293
85$3,003,936$0$0$1,475,631
86$3,138,669$0$0$1,542,887
87$3,281,737$0$0$1,614,381
88$3,433,819$0$0$1,690,462
89$3,595,661$0$0$1,771,513
90$3,768,076$0$0$1,857,952
91$3,951,955$0$0$1,950,240
92$4,148,275$0$0$2,048,878
93$4,358,107$0$0$2,154,418
94$4,582,622$0$0$2,267,465
95$4,823,108$0$0$2,388,681
96$5,080,974$0$0$2,518,794
97$5,357,769$0$0$2,658,603
98$5,655,191$0$0$2,808,983
99$5,975,105$0$0$2,970,897
100$6,319,556$0$0$3,145,401