Can I retire at age 53 with 942,000?

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 $942,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$77,789$77,097$76,421$75,761$75,116$74,456
2 years$38,510$37,792$37,097$36,423$35,770$35,104
3 years$25,418$24,698$24,004$23,337$22,694$22,044
4 years$18,874$18,155$17,469$16,813$16,185$15,556
5 years$14,948$14,234$13,557$12,914$12,304$11,697
6 years$12,332$11,623$10,956$10,327$9,736$9,152
7 years$10,464$9,761$9,104$8,491$7,918$7,357
8 years$9,063$8,367$7,721$7,123$6,568$6,031
9 years$7,975$7,285$6,650$6,067$5,532$5,018
10 years$7,104$6,421$5,798$5,230$4,713$4,222
11 years$6,393$5,717$5,104$4,551$4,054$3,585
12 years$5,800$5,131$4,530$3,992$3,513$3,067
13 years$5,299$4,637$4,047$3,525$3,063$2,639
14 years$4,870$4,215$3,636$3,129$2,685$2,282
15 years$4,498$3,850$3,283$2,790$2,364$1,981
16 years$4,173$3,533$2,977$2,498$2,089$1,726
17 years$3,887$3,253$2,709$2,245$1,853$1,509
18 years$3,633$3,006$2,473$2,023$1,647$1,322
19 years$3,406$2,786$2,264$1,828$1,468$1,161
20 years$3,202$2,589$2,077$1,656$1,312$1,021
21 years$3,017$2,412$1,911$1,503$1,174$900
22 years$2,850$2,251$1,761$1,366$1,052$794
23 years$2,697$2,105$1,626$1,244$944$702
24 years$2,557$1,973$1,504$1,135$849$621
25 years$2,429$1,851$1,393$1,036$764$550
26 years$2,310$1,740$1,292$948$688$487
27 years$2,201$1,637$1,200$867$620$432
28 years$2,100$1,543$1,115$795$560$384
29 years$2,005$1,456$1,038$729$505$341
30 years$1,918$1,375$967$669$457$303
31 years$1,836$1,299$901$614$413$269
32 years$1,759$1,230$841$564$373$239
33 years$1,687$1,164$785$519$338$213
34 years$1,619$1,104$734$478$306$189
35 years$1,556$1,047$686$440$277$168
36 years$1,496$994$642$405$251$150
37 years$1,440$944$600$373$228$134
38 years$1,386$897$562$344$206$119
39 years$1,336$853$527$317$187$106
40 years$1,288$811$494$292$170$94
41 years$1,242$772$463$270$154$84
42 years$1,199$736$434$249$140$75
43 years$1,158$701$408$230$127$67
44 years$1,119$668$383$212$115$60
45 years$1,082$637$359$196$104$53
46 years$1,047$608$337$181$95$47
47 years$1,013$580$317$167$86$42
48 years$980$554$298$155$78$38
49 years$949$529$280$143$71$34
50 years$920$505$263$132$65$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $942,000, adding $5,545 every year, while hoping to spend $58,823 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: 70/25/5 Blend
52$942,000$942,000$942,000$942,000
53$1,043,804$993,878$979,277$1,115,951
54$1,087,684$979,990$949,495$1,150,448
55$1,134,070$963,451$916,745$1,180,368
56$1,183,152$944,068$880,863$1,211,466
57$1,235,144$921,637$841,682$1,243,844
58$1,290,275$895,944$799,025$1,277,615
59$1,348,797$866,760$752,707$1,312,902
60$1,410,987$833,843$702,534$1,349,846
61$1,477,145$796,939$648,307$1,388,603
62$1,547,602$755,777$589,813$1,429,345
63$1,622,718$710,071$526,833$1,472,265
64$1,702,891$659,520$459,137$1,517,577
65$1,788,552$603,803$386,485$1,565,519
66$1,880,178$542,583$308,626$1,616,358
67$1,978,289$475,503$225,298$1,670,387
68$2,083,458$402,185$136,228$1,727,936
69$2,196,310$322,231$41,131$1,789,367
70$2,317,533$235,220$0$1,855,088
71$2,447,883$140,708$0$1,928,766
72$2,588,189$38,224$0$2,010,234
73$2,739,360$0$0$2,097,867
74$2,902,397$0$0$2,212,305
75$3,078,398$0$0$2,347,234
76$3,268,570$0$0$2,493,068
77$3,474,238$0$0$2,650,829
78$3,696,861$0$0$2,821,641
79$3,938,042$0$0$3,006,739
80$4,199,543$0$0$3,207,482
81$4,483,300$0$0$3,425,363
82$4,791,447$0$0$3,662,026
83$5,126,326$0$0$3,919,278
84$5,490,516$0$0$4,199,106
85$5,886,855$0$0$4,503,700
86$6,318,464$0$0$4,835,464
87$6,788,779$0$0$5,197,049
88$7,301,579$0$0$5,591,369
89$7,861,026$0$0$6,021,633
90$8,471,699$0$0$6,491,371
91$9,138,640$0$0$7,004,473
92$9,867,397$0$0$7,565,216
93$10,664,081$0$0$8,178,314
94$11,535,418$0$0$8,848,953
95$12,488,816$0$0$9,582,845
96$13,532,428$0$0$10,386,281
97$14,675,236$0$0$11,266,185
98$15,927,130$0$0$12,230,185
99$17,298,999$0$0$13,286,682
100$18,802,840$0$0$14,444,924