Can I retire at age 53 with 943,000?

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 $943,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$77,872$77,178$76,502$75,841$75,196$73,738
2 years$38,551$37,833$37,137$36,462$35,808$34,345
3 years$25,445$24,724$24,030$23,362$22,718$21,296
4 years$18,894$18,175$17,488$16,831$16,203$14,832
5 years$14,964$14,249$13,571$12,928$12,317$11,002
6 years$12,345$11,636$10,967$10,338$9,746$8,488
7 years$10,475$9,772$9,114$8,500$7,926$6,725
8 years$9,073$8,376$7,729$7,130$6,575$5,431
9 years$7,983$7,293$6,657$6,073$5,537$4,449
10 years$7,112$6,428$5,804$5,235$4,718$3,685
11 years$6,399$5,723$5,110$4,556$4,058$3,079
12 years$5,806$5,136$4,535$3,996$3,516$2,590
13 years$5,305$4,642$4,052$3,528$3,066$2,191
14 years$4,875$4,219$3,640$3,132$2,688$1,862
15 years$4,503$3,854$3,287$2,793$2,367$1,588
16 years$4,178$3,536$2,980$2,501$2,092$1,359
17 years$3,891$3,257$2,712$2,247$1,855$1,166
18 years$3,637$3,009$2,475$2,025$1,649$1,003
19 years$3,409$2,789$2,266$1,830$1,470$864
20 years$3,205$2,592$2,080$1,657$1,313$746
21 years$3,020$2,414$1,913$1,504$1,175$645
22 years$2,853$2,254$1,763$1,368$1,053$558
23 years$2,700$2,108$1,628$1,245$945$483
24 years$2,560$1,975$1,505$1,136$850$419
25 years$2,431$1,853$1,394$1,037$765$363
26 years$2,313$1,742$1,293$949$689$315
27 years$2,203$1,639$1,201$868$621$274
28 years$2,102$1,545$1,116$795$560$238
29 years$2,007$1,457$1,039$729$506$207
30 years$1,920$1,376$968$669$457$180
31 years$1,837$1,301$902$615$413$157
32 years$1,761$1,231$842$565$374$136
33 years$1,689$1,166$786$520$338$119
34 years$1,621$1,105$734$478$306$103
35 years$1,558$1,048$687$440$277$90
36 years$1,498$995$642$405$251$78
37 years$1,441$945$601$373$228$68
38 years$1,388$898$563$344$207$59
39 years$1,337$854$527$317$187$52
40 years$1,289$812$494$293$170$45
41 years$1,244$773$464$270$154$39
42 years$1,201$736$435$249$140$34
43 years$1,160$702$408$230$127$30
44 years$1,120$669$383$212$115$26
45 years$1,083$638$360$196$105$23
46 years$1,048$608$338$181$95$20
47 years$1,014$581$317$167$86$17
48 years$981$554$298$155$78$15
49 years$950$529$280$143$71$13
50 years$921$506$263$132$65$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $943,000, adding $5,755 every year, while hoping to spend $53,264 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: 42/28/30 Blend
52$943,000$943,000$943,000$943,000
53$1,045,122$995,143$980,527$1,079,635
54$1,095,052$987,233$956,702$1,097,204
55$1,148,290$977,150$930,294$1,110,814
56$1,205,116$964,731$901,160$1,124,558
57$1,265,840$949,804$869,150$1,138,481
58$1,330,798$932,187$834,109$1,152,637
59$1,400,360$911,685$795,873$1,167,091
60$1,474,934$888,094$754,271$1,181,918
61$1,554,963$861,197$709,125$1,197,205
62$1,640,938$830,764$660,249$1,213,052
63$1,733,394$796,552$607,448$1,229,577
64$1,832,921$758,304$550,518$1,246,914
65$1,940,165$715,747$489,247$1,265,216
66$2,055,837$668,594$423,412$1,284,658
67$2,180,717$616,540$352,781$1,305,442
68$2,315,664$559,264$277,112$1,327,795
69$2,461,619$496,425$196,153$1,351,974
70$2,619,619$427,665$109,639$1,378,272
71$2,790,803$352,603$17,295$1,407,020
72$2,976,423$270,839$0$1,438,590
73$3,177,857$181,948$0$1,499,411
74$3,396,618$85,484$0$1,571,546
75$3,634,374$0$0$1,650,084
76$3,892,957$0$0$1,741,588
77$4,174,384$0$0$1,869,946
78$4,480,873$0$0$2,009,845
79$4,814,866$0$0$2,162,412
80$5,179,050$0$0$2,328,888
81$5,576,382$0$0$2,510,642
82$6,010,118$0$0$2,709,177
83$6,483,841$0$0$2,926,149
84$7,001,495$0$0$3,163,383
85$7,567,423$0$0$3,422,886
86$8,186,407$0$0$3,706,869
87$8,863,712$0$0$4,017,765
88$9,605,133$0$0$4,358,256
89$10,417,056$0$0$4,731,294
90$11,306,508$0$0$5,140,129
91$12,281,233$0$0$5,588,342
92$13,349,755$0$0$6,079,876
93$14,521,466$0$0$6,619,074
94$15,806,707$0$0$7,210,721
95$17,216,871$0$0$7,860,085
96$18,764,504$0$0$8,572,972
97$20,463,429$0$0$9,355,774
98$22,328,869$0$0$10,215,536
99$24,377,597$0$0$11,160,016
100$26,628,088$0$0$12,197,761