Can I retire at age 53 with 894,000?

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 $894,000?

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$73,826$73,168$72,527$71,900$71,289$69,034
2 years$36,547$35,867$35,207$34,567$33,947$31,696
3 years$24,123$23,439$22,781$22,148$21,537$19,361
4 years$17,912$17,230$16,579$15,956$15,361$13,275
5 years$14,186$13,509$12,866$12,256$11,677$9,688
6 years$11,703$11,031$10,398$9,801$9,240$7,348
7 years$9,930$9,264$8,640$8,058$7,514$5,721
8 years$8,601$7,941$7,328$6,760$6,234$4,537
9 years$7,568$6,914$6,311$5,758$5,250$3,648
10 years$6,742$6,094$5,502$4,963$4,473$2,964
11 years$6,067$5,425$4,844$4,320$3,847$2,428
12 years$5,504$4,869$4,299$3,789$3,334$2,001
13 years$5,029$4,401$3,841$3,345$2,907$1,658
14 years$4,622$4,000$3,451$2,969$2,548$1,379
15 years$4,269$3,654$3,116$2,648$2,244$1,151
16 years$3,961$3,353$2,825$2,371$1,983$964
17 years$3,689$3,088$2,571$2,130$1,758$809
18 years$3,448$2,853$2,347$1,920$1,563$680
19 years$3,232$2,644$2,148$1,735$1,393$572
20 years$3,038$2,457$1,972$1,571$1,245$482
21 years$2,863$2,289$1,813$1,426$1,114$407
22 years$2,704$2,136$1,671$1,297$998$344
23 years$2,559$1,998$1,543$1,181$896$291
24 years$2,427$1,872$1,427$1,077$806$246
25 years$2,305$1,757$1,322$984$725$208
26 years$2,193$1,651$1,226$899$653$176
27 years$2,089$1,554$1,138$823$589$149
28 years$1,993$1,464$1,058$754$531$126
29 years$1,903$1,381$985$692$480$107
30 years$1,820$1,305$917$635$433$91
31 years$1,742$1,233$855$583$392$77
32 years$1,669$1,167$798$536$354$65
33 years$1,601$1,105$745$493$321$55
34 years$1,537$1,047$696$453$290$47
35 years$1,477$993$651$417$263$40
36 years$1,420$943$609$384$238$34
37 years$1,366$896$570$354$216$29
38 years$1,316$851$534$326$196$24
39 years$1,268$809$500$301$178$21
40 years$1,222$770$469$278$161$18
41 years$1,179$733$439$256$146$15
42 years$1,138$698$412$236$133$13
43 years$1,099$665$387$218$120$11
44 years$1,062$634$363$201$109$9
45 years$1,027$605$341$186$99$8
46 years$993$577$320$172$90$7
47 years$961$550$301$159$82$6
48 years$930$525$283$147$74$5
49 years$901$502$266$136$67$4
50 years$873$479$250$125$61$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $894,000, adding $6,210 every year, while hoping to spend $35,922 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: 55/17/28 Blend
52$894,000$894,000$894,000$894,000
53$991,594$944,212$930,355$1,038,139
54$1,054,515$952,257$923,301$1,078,964
55$1,122,651$959,493$914,807$1,119,182
56$1,196,495$965,842$904,786$1,162,263
57$1,276,590$971,220$893,149$1,208,495
58$1,363,533$975,541$879,800$1,258,196
59$1,457,982$978,711$864,642$1,311,721
60$1,560,658$980,630$847,570$1,369,459
61$1,672,358$981,193$828,475$1,431,841
62$1,793,954$980,288$807,245$1,499,346
63$1,926,411$977,795$783,761$1,572,502
64$2,070,786$973,588$757,899$1,651,891
65$2,228,246$967,534$729,528$1,738,159
66$2,400,074$959,490$698,514$1,832,019
67$2,587,681$949,304$664,714$1,934,260
68$2,792,622$936,818$627,979$2,045,751
69$3,016,609$921,861$588,156$2,167,455
70$3,261,525$904,255$545,081$2,300,435
71$3,529,445$883,808$498,586$2,445,867
72$3,822,653$860,319$448,494$2,605,046
73$4,143,665$833,575$394,619$2,779,407
74$4,495,249$803,351$336,769$2,970,532
75$4,880,456$769,407$274,743$3,180,169
76$5,302,645$731,491$208,329$3,410,247
77$5,765,515$689,334$137,309$3,662,899
78$6,273,142$642,655$61,452$3,940,477
79$6,830,011$591,154$0$4,245,579
80$7,441,068$534,516$0$4,586,897
81$8,111,755$472,406$0$4,981,744
82$8,848,071$404,471$0$5,415,310
83$9,656,622$330,338$0$5,891,534
84$10,544,686$249,612$0$6,414,756
85$11,520,279$161,879$0$6,989,760
86$12,592,235$66,698$0$7,621,820
87$13,770,281$0$0$8,316,749
88$15,065,138$0$0$9,087,765
89$16,488,615$0$0$9,949,173
90$18,053,721$0$0$10,896,379
91$19,774,791$0$0$11,938,072
92$21,667,618$0$0$13,083,820
93$23,749,600$0$0$14,344,168
94$26,039,909$0$0$15,730,735
95$28,559,666$0$0$17,256,320
96$31,332,145$0$0$18,935,028
97$34,382,988$0$0$20,782,399
98$37,740,448$0$0$22,815,556
99$41,435,657$0$0$25,053,366
100$45,502,915$0$0$27,516,617