Can I retire at age 53 with 940,000?

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 $940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$77,624$76,933$76,258$75,600$74,957$72,850
2 years$38,428$37,712$37,019$36,346$35,694$33,587
3 years$25,364$24,645$23,953$23,287$22,646$20,605
4 years$18,834$18,117$17,432$16,777$16,151$14,192
5 years$14,916$14,204$13,528$12,886$12,278$10,406
6 years$12,305$11,599$10,933$10,305$9,715$7,933
7 years$10,441$9,740$9,085$8,473$7,901$6,208
8 years$9,044$8,349$7,705$7,108$6,555$4,949
9 years$7,958$7,270$6,636$6,054$5,520$4,001
10 years$7,089$6,408$5,786$5,219$4,703$3,269
11 years$6,379$5,704$5,094$4,542$4,045$2,693
12 years$5,788$5,120$4,520$3,984$3,505$2,233
13 years$5,288$4,627$4,039$3,517$3,057$1,862
14 years$4,859$4,206$3,629$3,122$2,679$1,558
15 years$4,489$3,842$3,276$2,784$2,359$1,309
16 years$4,165$3,525$2,970$2,493$2,085$1,103
17 years$3,879$3,246$2,703$2,240$1,849$931
18 years$3,625$3,000$2,467$2,019$1,644$788
19 years$3,399$2,780$2,259$1,824$1,465$668
20 years$3,195$2,584$2,073$1,652$1,309$567
21 years$3,011$2,406$1,907$1,499$1,171$482
22 years$2,843$2,246$1,757$1,363$1,050$410
23 years$2,691$2,101$1,623$1,242$942$349
24 years$2,552$1,968$1,501$1,132$847$297
25 years$2,423$1,847$1,390$1,034$762$253
26 years$2,305$1,736$1,289$946$687$216
27 years$2,196$1,634$1,197$865$619$184
28 years$2,095$1,540$1,113$793$559$157
29 years$2,001$1,452$1,036$727$504$134
30 years$1,913$1,372$965$667$456$115
31 years$1,832$1,297$899$613$412$98
32 years$1,755$1,227$839$563$373$84
33 years$1,683$1,162$783$518$337$72
34 years$1,616$1,101$732$477$305$61
35 years$1,553$1,045$684$439$277$52
36 years$1,493$991$640$404$251$45
37 years$1,437$942$599$372$227$38
38 years$1,383$895$561$343$206$33
39 years$1,333$851$526$316$187$28
40 years$1,285$810$493$292$169$24
41 years$1,240$771$462$269$154$20
42 years$1,197$734$433$248$139$17
43 years$1,156$699$407$229$127$15
44 years$1,117$667$382$212$115$13
45 years$1,080$636$358$196$104$11
46 years$1,044$606$337$181$95$9
47 years$1,011$579$316$167$86$8
48 years$978$552$297$154$78$7
49 years$947$528$279$143$71$6
50 years$918$504$263$132$64$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $940,000, adding $4,162 every year, while hoping to spend $35,367 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: 46/43/11 Blend
52$940,000$940,000$940,000$940,000
53$1,040,173$990,353$975,783$1,084,627
54$1,108,641$1,001,250$970,842$1,126,693
55$1,182,906$1,011,496$964,549$1,168,331
56$1,263,525$1,021,021$956,823$1,212,704
57$1,351,105$1,029,751$947,578$1,260,077
58$1,446,317$1,037,609$936,721$1,310,746
59$1,549,899$1,044,509$924,159$1,365,034
60$1,662,662$1,050,364$909,792$1,423,303
61$1,785,499$1,055,077$893,515$1,485,949
62$1,919,393$1,058,549$875,221$1,553,415
63$2,065,425$1,060,672$854,795$1,626,185
64$2,224,785$1,061,332$832,117$1,704,800
65$2,398,784$1,060,407$807,064$1,789,854
66$2,588,863$1,057,771$779,503$1,882,006
67$2,796,610$1,053,285$749,300$1,981,983
68$3,023,774$1,046,805$716,311$2,090,591
69$3,272,278$1,038,178$680,387$2,208,719
70$3,544,243$1,027,241$641,372$2,337,350
71$3,842,001$1,013,821$599,103$2,477,570
72$4,168,122$997,735$553,410$2,630,580
73$4,525,435$978,789$504,114$2,797,708
74$4,917,058$956,778$451,031$2,980,420
75$5,346,422$931,485$393,965$3,180,334
76$5,817,308$902,678$332,713$3,399,242
77$6,333,879$870,115$267,065$3,639,118
78$6,900,722$833,537$196,798$3,902,148
79$7,522,887$792,672$121,682$4,190,742
80$8,205,939$747,231$41,476$4,507,564
81$8,956,008$696,908$0$4,855,554
82$9,779,844$641,380$0$5,243,139
83$10,684,888$580,308$0$5,674,257
84$11,679,332$513,328$0$6,148,026
85$12,772,204$440,061$0$6,668,850
86$13,973,449$360,104$0$7,241,588
87$15,294,023$273,031$0$7,871,603
88$16,745,996$178,393$0$8,564,811
89$18,342,669$75,715$0$9,327,738
90$20,098,692$0$0$10,167,587
91$22,030,210$0$0$11,109,100
92$24,155,008$0$0$12,184,361
93$26,492,683$0$0$13,367,476
94$29,064,829$0$0$14,669,389
95$31,895,234$0$0$16,102,157
96$35,010,113$0$0$17,679,067
97$38,438,350$0$0$19,414,759
98$42,211,768$0$0$21,325,362
99$46,365,435$0$0$23,428,651
100$50,937,991$0$0$25,744,211