Can I retire at age 53 with 888,000?

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 $888,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$73,330$72,677$72,040$71,418$70,810$69,043
2 years$36,302$35,626$34,971$34,335$33,719$31,949
3 years$23,961$23,282$22,628$21,999$21,393$19,676
4 years$17,792$17,115$16,468$15,849$15,258$13,607
5 years$14,091$13,418$12,780$12,174$11,599$10,020
6 years$11,625$10,957$10,328$9,735$9,178$7,671
7 years$9,864$9,202$8,582$8,004$7,464$6,030
8 years$8,544$7,887$7,279$6,714$6,192$4,831
9 years$7,517$6,867$6,269$5,719$5,215$3,924
10 years$6,697$6,053$5,466$4,930$4,443$3,222
11 years$6,026$5,389$4,812$4,291$3,821$2,668
12 years$5,467$4,837$4,270$3,763$3,311$2,224
13 years$4,995$4,371$3,815$3,322$2,888$1,864
14 years$4,591$3,973$3,428$2,949$2,531$1,569
15 years$4,240$3,630$3,095$2,630$2,229$1,326
16 years$3,934$3,330$2,806$2,355$1,970$1,123
17 years$3,664$3,067$2,553$2,116$1,746$954
18 years$3,425$2,834$2,331$1,907$1,553$812
19 years$3,211$2,626$2,134$1,723$1,384$692
20 years$3,018$2,441$1,958$1,561$1,236$591
21 years$2,844$2,273$1,801$1,416$1,106$506
22 years$2,686$2,122$1,660$1,288$992$433
23 years$2,542$1,985$1,533$1,173$890$371
24 years$2,410$1,860$1,418$1,070$800$318
25 years$2,289$1,745$1,313$977$720$273
26 years$2,178$1,640$1,218$893$649$234
27 years$2,075$1,544$1,131$818$585$201
28 years$1,979$1,454$1,051$749$528$173
29 years$1,890$1,372$978$687$476$148
30 years$1,808$1,296$911$630$430$128
31 years$1,730$1,225$850$579$389$110
32 years$1,658$1,159$793$532$352$94
33 years$1,590$1,098$740$489$319$81
34 years$1,527$1,040$691$450$288$70
35 years$1,467$987$646$414$261$60
36 years$1,410$937$605$382$237$52
37 years$1,357$890$566$352$215$45
38 years$1,307$845$530$324$195$38
39 years$1,259$804$497$299$176$33
40 years$1,214$765$465$276$160$28
41 years$1,171$728$436$254$145$24
42 years$1,131$693$409$235$132$21
43 years$1,092$661$384$217$120$18
44 years$1,055$630$361$200$108$16
45 years$1,020$600$339$185$98$13
46 years$987$573$318$171$89$12
47 years$955$547$299$158$81$10
48 years$924$522$281$146$74$9
49 years$895$498$264$135$67$7
50 years$867$476$248$124$61$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $888,000, adding $2,201 every year, while hoping to spend $46,157 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: 42/42/16 Blend
52$888,000$888,000$888,000$888,000
53$980,846$933,782$920,018$1,017,359
54$1,031,782$930,427$901,728$1,039,965
55$1,086,366$925,360$881,278$1,059,721
56$1,144,922$918,449$858,548$1,080,130
57$1,207,805$909,554$833,410$1,101,272
58$1,275,404$898,525$805,732$1,123,240
59$1,348,146$885,204$775,375$1,146,140
60$1,426,502$869,424$742,195$1,170,091
61$1,510,987$851,008$706,041$1,195,230
62$1,602,167$829,767$666,753$1,221,709
63$1,700,665$805,502$624,166$1,249,701
64$1,807,165$778,004$578,107$1,279,403
65$1,922,418$747,048$528,396$1,311,033
66$2,047,251$712,400$474,844$1,344,840
67$2,182,572$673,809$417,253$1,381,101
68$2,329,382$631,013$355,418$1,420,129
69$2,488,777$583,731$289,123$1,462,274
70$2,661,968$531,669$218,144$1,507,928
71$2,850,283$474,515$142,246$1,557,531
72$3,055,185$411,940$61,184$1,611,575
73$3,278,283$343,595$0$1,670,608
74$3,521,349$269,112$0$1,739,567
75$3,786,332$188,103$0$1,826,243
76$4,075,375$100,157$0$1,920,990
77$4,390,840$4,842$0$2,024,710
78$4,735,325$0$0$2,138,404
79$5,111,692$0$0$2,308,614
80$5,523,088$0$0$2,497,221
81$5,972,983$0$0$2,703,589
82$6,465,192$0$0$2,929,483
83$7,003,921$0$0$3,176,848
84$7,593,797$0$0$3,447,824
85$8,239,917$0$0$3,744,767
86$8,947,897$0$0$4,070,275
87$9,723,916$0$0$4,427,206
88$10,574,784$0$0$4,818,709
89$11,508,001$0$0$5,248,254
90$12,531,825$0$0$5,719,660
91$13,655,354$0$0$6,237,136
92$14,888,609$0$0$6,805,318
93$16,242,630$0$0$7,429,313
94$17,729,575$0$0$8,114,745
95$19,362,840$0$0$8,867,812
96$21,157,181$0$0$9,695,341
97$23,128,853$0$0$10,604,853
98$25,295,766$0$0$11,604,634
99$27,677,648$0$0$12,703,812
100$30,296,237$0$0$13,912,444