Can I retire at age 53 with 938,000?

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 $938,000?

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$77,459$76,769$76,096$75,439$74,797$72,432
2 years$38,346$37,632$36,940$36,269$35,618$33,256
3 years$25,310$24,593$23,903$23,238$22,597$20,314
4 years$18,793$18,078$17,395$16,741$16,117$13,928
5 years$14,884$14,174$13,499$12,859$12,252$10,164
6 years$12,279$11,574$10,909$10,283$9,694$7,710
7 years$10,419$9,720$9,066$8,455$7,884$6,003
8 years$9,025$8,332$7,688$7,092$6,541$4,761
9 years$7,941$7,254$6,622$6,041$5,508$3,828
10 years$7,074$6,394$5,773$5,208$4,693$3,110
11 years$6,365$5,692$5,083$4,532$4,036$2,547
12 years$5,775$5,109$4,511$3,975$3,498$2,100
13 years$5,276$4,617$4,030$3,510$3,050$1,740
14 years$4,849$4,197$3,621$3,115$2,674$1,447
15 years$4,479$3,834$3,269$2,778$2,354$1,208
16 years$4,156$3,518$2,964$2,488$2,081$1,011
17 years$3,871$3,240$2,697$2,235$1,845$848
18 years$3,618$2,993$2,462$2,014$1,640$713
19 years$3,391$2,774$2,254$1,820$1,462$600
20 years$3,188$2,578$2,069$1,649$1,306$506
21 years$3,004$2,401$1,903$1,496$1,169$427
22 years$2,837$2,242$1,754$1,360$1,048$361
23 years$2,685$2,096$1,619$1,239$940$305
24 years$2,546$1,964$1,497$1,130$845$258
25 years$2,418$1,843$1,387$1,032$761$218
26 years$2,300$1,732$1,286$944$685$185
27 years$2,192$1,630$1,194$864$618$157
28 years$2,091$1,536$1,110$791$557$133
29 years$1,997$1,449$1,033$726$503$112
30 years$1,909$1,369$963$666$455$95
31 years$1,828$1,294$897$612$411$81
32 years$1,751$1,224$837$562$372$69
33 years$1,680$1,159$782$517$337$58
34 years$1,613$1,099$730$476$305$49
35 years$1,549$1,042$683$438$276$42
36 years$1,490$989$639$403$250$36
37 years$1,434$940$598$371$227$30
38 years$1,380$893$560$342$205$26
39 years$1,330$849$525$316$186$22
40 years$1,282$808$492$291$169$18
41 years$1,237$769$461$269$153$16
42 years$1,194$732$432$248$139$13
43 years$1,153$698$406$229$126$11
44 years$1,114$665$381$211$115$10
45 years$1,077$634$358$195$104$8
46 years$1,042$605$336$180$94$7
47 years$1,008$577$316$167$86$6
48 years$976$551$297$154$78$5
49 years$945$526$279$142$71$4
50 years$916$503$262$131$64$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $938,000, adding $6,502 every year, while hoping to spend $46,876 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: 73/11/16 Blend
52$938,000$938,000$938,000$938,000
53$1,040,383$990,669$976,130$1,112,101
54$1,096,626$989,336$958,954$1,159,174
55$1,157,035$986,367$939,633$1,204,367
56$1,221,985$981,631$918,043$1,252,638
57$1,291,889$974,992$894,058$1,304,283
58$1,367,198$966,303$867,546$1,359,627
59$1,448,411$955,410$838,367$1,419,029
60$1,536,072$942,149$806,376$1,482,885
61$1,630,783$926,346$771,421$1,551,633
62$1,733,202$907,816$733,342$1,625,756
63$1,844,054$886,364$691,975$1,705,788
64$1,964,136$861,785$647,145$1,792,317
65$2,094,324$833,858$598,670$1,885,993
66$2,235,582$802,354$546,362$1,987,532
67$2,388,968$767,026$490,022$2,097,727
68$2,555,649$727,616$429,444$2,217,450
69$2,736,905$683,850$364,411$2,347,666
70$2,934,148$635,437$294,697$2,489,440
71$3,148,930$582,072$220,068$2,643,944
72$3,382,957$523,430$140,276$2,812,475
73$3,638,109$459,169$55,066$2,996,464
74$3,916,455$388,927$0$3,197,487
75$4,220,270$312,321$0$3,423,410
76$4,552,062$228,949$0$3,680,461
77$4,914,588$138,383$0$3,961,399
78$5,310,885$40,173$0$4,268,615
79$5,744,297$0$0$4,604,744
80$6,218,507$0$0$4,980,696
81$6,737,566$0$0$5,397,571
82$7,305,940$0$0$5,854,095
83$7,928,544$0$0$6,354,223
84$8,610,792$0$0$6,902,309
85$9,358,646$0$0$7,503,148
86$10,178,671$0$0$8,162,022
87$11,078,100$0$0$8,884,749
88$12,064,900$0$0$9,677,734
89$13,147,843$0$0$10,548,037
90$14,336,594$0$0$11,503,430
91$15,641,800$0$0$12,552,478
92$17,075,187$0$0$13,704,612
93$18,649,674$0$0$14,970,226
94$20,379,493$0$0$16,360,766
95$22,280,321$0$0$17,888,844
96$24,369,430$0$0$19,568,354
97$26,665,849$0$0$21,414,600
98$29,190,541$0$0$23,444,448
99$31,966,601$0$0$25,676,475
100$35,019,477$0$0$28,131,151