Can I retire at age 53 with 916,000?

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 $916,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$75,642$74,969$74,311$73,670$73,043$72,371
2 years$37,447$36,749$36,073$35,418$34,782$34,105
3 years$24,717$24,016$23,342$22,693$22,067$21,406
4 years$18,353$17,654$16,987$16,349$15,739$15,098
5 years$14,535$13,841$13,183$12,557$11,964$11,347
6 years$11,991$11,302$10,653$10,042$9,467$8,873
7 years$10,175$9,492$8,853$8,256$7,699$7,129
8 years$8,813$8,136$7,508$6,926$6,387$5,841
9 years$7,755$7,084$6,467$5,899$5,379$4,857
10 years$6,908$6,244$5,638$5,085$4,583$4,084
11 years$6,216$5,559$4,963$4,426$3,942$3,466
12 years$5,640$4,989$4,405$3,882$3,416$2,963
13 years$5,153$4,509$3,936$3,427$2,979$2,547
14 years$4,735$4,098$3,536$3,042$2,611$2,201
15 years$4,374$3,744$3,193$2,713$2,299$1,910
16 years$4,058$3,435$2,895$2,429$2,032$1,663
17 years$3,780$3,164$2,634$2,183$1,802$1,453
18 years$3,533$2,923$2,404$1,967$1,602$1,272
19 years$3,312$2,709$2,201$1,777$1,428$1,116
20 years$3,113$2,518$2,020$1,610$1,275$981
21 years$2,934$2,345$1,858$1,461$1,141$864
22 years$2,771$2,189$1,713$1,328$1,023$762
23 years$2,622$2,047$1,581$1,210$918$673
24 years$2,486$1,918$1,462$1,103$825$595
25 years$2,362$1,800$1,354$1,008$743$526
26 years$2,247$1,692$1,256$921$669$466
27 years$2,140$1,592$1,166$843$603$413
28 years$2,042$1,500$1,084$773$544$366
29 years$1,950$1,415$1,009$709$491$325
30 years$1,865$1,337$940$650$444$288
31 years$1,785$1,264$876$597$401$256
32 years$1,710$1,196$818$549$363$228
33 years$1,640$1,132$763$505$329$202
34 years$1,575$1,073$713$464$298$180
35 years$1,513$1,018$667$428$270$160
36 years$1,455$966$624$394$244$142
37 years$1,400$918$584$363$221$127
38 years$1,348$872$547$334$201$113
39 years$1,299$829$512$308$182$100
40 years$1,252$789$480$284$165$89
41 years$1,208$751$450$262$150$79
42 years$1,166$715$422$242$136$71
43 years$1,126$681$396$224$123$63
44 years$1,088$650$372$206$112$56
45 years$1,052$619$349$191$102$50
46 years$1,018$591$328$176$92$45
47 years$985$564$308$163$84$40
48 years$953$538$290$150$76$35
49 years$923$514$272$139$69$31
50 years$894$491$256$128$63$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $916,000, adding $6,997 every year, while hoping to spend $27,391 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: 45/43/12 Blend
52$916,000$916,000$916,000$916,000
53$1,016,649$968,101$953,903$1,058,629
54$1,091,204$986,395$956,715$1,106,782
55$1,172,445$1,004,666$958,703$1,155,623
56$1,261,025$1,022,886$959,811$1,207,973
57$1,357,664$1,041,022$959,979$1,264,167
58$1,463,153$1,059,039$959,146$1,324,574
59$1,578,362$1,076,899$957,245$1,389,600
60$1,704,251$1,094,563$954,208$1,459,695
61$1,841,874$1,111,986$949,964$1,535,354
62$1,992,394$1,129,123$944,437$1,617,122
63$2,157,091$1,145,922$937,548$1,705,603
64$2,337,374$1,162,332$929,215$1,801,459
65$2,534,793$1,178,293$919,351$1,905,424
66$2,751,058$1,193,745$907,865$2,018,307
67$2,988,050$1,208,623$894,662$2,141,000
68$3,247,841$1,222,855$879,643$2,274,485
69$3,532,713$1,236,368$862,704$2,419,848
70$3,845,181$1,249,081$843,736$2,578,287
71$4,188,013$1,260,909$822,624$2,751,121
72$4,564,258$1,271,762$799,250$2,939,808
73$4,977,276$1,281,541$773,488$3,145,953
74$5,430,766$1,290,145$745,208$3,371,331
75$5,928,806$1,297,464$714,274$3,617,894
76$6,475,885$1,303,380$680,543$3,887,801
77$7,076,949$1,307,770$643,866$4,183,430
78$7,737,449$1,310,502$604,086$4,507,403
79$8,463,387$1,311,435$561,042$4,862,616
80$9,261,378$1,310,421$514,562$5,252,258
81$10,138,707$1,307,300$464,468$5,679,852
82$11,103,403$1,301,906$410,576$6,149,278
83$12,164,311$1,294,059$352,691$6,664,820
84$13,331,174$1,283,572$290,609$7,231,197
85$14,614,730$1,270,243$224,121$7,853,620
86$16,026,807$1,253,859$153,003$8,537,829
87$17,580,439$1,234,197$77,027$9,290,159
88$19,289,988$1,211,016$0$10,117,594
89$21,171,275$1,184,064$0$11,028,355
90$23,241,735$1,153,073$0$12,040,973
91$25,520,578$1,117,760$0$13,154,973
92$28,028,971$1,077,824$0$14,380,718
93$30,790,237$1,032,948$0$15,729,630
94$33,830,074$982,796$0$17,214,300
95$37,176,802$927,013$0$18,848,611
96$40,861,621$865,222$0$20,647,868
97$44,918,914$797,026$0$22,628,939
98$49,386,568$722,004$0$24,810,424
99$54,306,329$639,714$0$27,212,824
100$59,724,199$549,684$0$29,858,740