Can I retire at age 53 with 889,000?

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 $889,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$73,413$72,759$72,121$71,498$70,890$70,502
2 years$36,343$35,666$35,010$34,374$33,757$33,366
3 years$23,988$23,308$22,654$22,024$21,417$21,034
4 years$17,812$17,134$16,486$15,867$15,275$14,904
5 years$14,107$13,433$12,794$12,187$11,612$11,253
6 years$11,638$10,969$10,339$9,746$9,188$8,843
7 years$9,875$9,212$8,592$8,013$7,472$7,140
8 years$8,553$7,896$7,287$6,722$6,199$5,880
9 years$7,526$6,875$6,276$5,726$5,220$4,915
10 years$6,705$6,060$5,472$4,935$4,448$4,156
11 years$6,033$5,395$4,817$4,295$3,825$3,546
12 years$5,474$4,842$4,275$3,768$3,315$3,048
13 years$5,001$4,376$3,820$3,326$2,891$2,636
14 years$4,596$3,978$3,432$2,953$2,534$2,292
15 years$4,245$3,634$3,099$2,633$2,231$2,001
16 years$3,939$3,334$2,809$2,358$1,972$1,753
17 years$3,668$3,070$2,556$2,118$1,748$1,540
18 years$3,429$2,837$2,334$1,909$1,555$1,357
19 years$3,214$2,629$2,136$1,725$1,386$1,199
20 years$3,021$2,443$1,961$1,562$1,238$1,061
21 years$2,847$2,276$1,803$1,418$1,108$940
22 years$2,689$2,124$1,662$1,289$993$835
23 years$2,545$1,987$1,535$1,174$891$742
24 years$2,413$1,862$1,419$1,071$801$661
25 years$2,292$1,747$1,315$978$721$589
26 years$2,180$1,642$1,219$894$649$525
27 years$2,077$1,545$1,132$819$585$469
28 years$1,981$1,456$1,052$750$528$418
29 years$1,892$1,374$979$688$477$374
30 years$1,810$1,297$912$631$431$334
31 years$1,732$1,226$850$580$390$299
32 years$1,660$1,160$793$533$352$268
33 years$1,592$1,099$741$490$319$240
34 years$1,528$1,042$692$451$289$215
35 years$1,468$988$647$415$262$192
36 years$1,412$938$605$382$237$172
37 years$1,359$891$567$352$215$155
38 years$1,308$846$531$325$195$139
39 years$1,261$805$497$299$177$124
40 years$1,215$766$466$276$160$112
41 years$1,173$729$437$255$145$100
42 years$1,132$694$410$235$132$90
43 years$1,093$661$385$217$120$81
44 years$1,056$630$361$200$109$72
45 years$1,021$601$339$185$99$65
46 years$988$573$318$171$90$58
47 years$956$547$299$158$81$52
48 years$925$522$281$146$74$47
49 years$896$499$264$135$67$42
50 years$868$477$248$125$61$38

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $889,000, adding $2,715 every year, while hoping to spend $26,626 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: 37/39/24 Blend
52$889,000$889,000$889,000$889,000
53$982,479$935,362$921,582$1,011,669
54$1,054,361$952,864$924,125$1,050,790
55$1,132,684$970,332$925,861$1,090,360
56$1,218,075$987,736$926,735$1,132,574
57$1,311,227$1,005,043$926,688$1,177,686
58$1,412,900$1,022,218$925,660$1,225,978
59$1,523,934$1,039,225$923,588$1,277,760
60$1,645,251$1,056,023$920,404$1,333,376
61$1,777,868$1,072,569$916,039$1,393,205
62$1,922,903$1,088,818$910,419$1,457,667
63$2,081,587$1,104,718$903,466$1,527,224
64$2,255,278$1,120,218$895,101$1,602,387
65$2,445,469$1,135,261$885,239$1,683,723
66$2,653,803$1,149,786$873,792$1,771,853
67$2,882,093$1,163,727$860,666$1,867,468
68$3,132,334$1,177,017$845,765$1,971,328
69$3,406,721$1,189,579$828,987$2,084,274
70$3,707,674$1,201,337$810,226$2,207,234
71$4,037,859$1,212,204$789,371$2,341,232
72$4,400,211$1,222,093$766,305$2,487,399
73$4,797,963$1,230,906$740,907$2,646,986
74$5,234,677$1,238,542$713,049$2,821,370
75$5,714,277$1,244,894$682,599$3,012,076
76$6,241,084$1,249,845$649,417$3,220,782
77$6,819,860$1,253,272$613,358$3,449,345
78$7,455,851$1,255,047$574,270$3,699,813
79$8,154,833$1,255,030$531,994$3,974,444
80$8,923,174$1,253,075$486,364$4,275,736
81$9,767,887$1,249,025$437,206$4,606,439
82$10,696,700$1,242,715$384,340$4,969,592
83$11,718,124$1,233,969$327,577$5,368,548
84$12,841,540$1,222,601$266,718$5,807,006
85$14,077,282$1,208,413$201,558$6,289,047
86$15,436,736$1,191,196$131,881$6,819,176
87$16,932,446$1,170,728$57,462$7,402,360
88$18,578,235$1,146,773$0$8,044,082
89$20,389,333$1,119,083$0$8,756,012
90$22,382,521$1,087,394$0$9,555,266
91$24,576,289$1,051,427$0$10,434,539
92$26,991,009$1,010,886$0$11,402,017
93$29,649,132$965,459$0$12,466,724
94$32,575,391$914,814$0$13,638,610
95$35,797,043$858,603$0$14,928,644
96$39,344,121$796,454$0$16,348,921
97$43,249,718$727,977$0$17,912,774
98$47,550,300$652,758$0$19,634,900
99$52,286,048$570,361$0$21,531,504
100$57,501,240$480,323$0$23,620,451