Can I retire at age 53 with 944,000?

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 $944,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.3%
1 years$77,955$77,260$76,583$75,922$75,276$73,636
2 years$38,591$37,873$37,176$36,501$35,846$34,201
3 years$25,472$24,750$24,055$23,386$22,742$21,145
4 years$18,914$18,194$17,506$16,849$16,220$14,682
5 years$14,980$14,264$13,586$12,941$12,330$10,857
6 years$12,358$11,648$10,979$10,349$9,756$8,348
7 years$10,486$9,782$9,124$8,509$7,934$6,592
8 years$9,082$8,385$7,738$7,138$6,582$5,306
9 years$7,992$7,301$6,664$6,080$5,543$4,331
10 years$7,119$6,435$5,810$5,241$4,723$3,574
11 years$6,406$5,729$5,115$4,561$4,062$2,974
12 years$5,812$5,142$4,540$4,001$3,520$2,492
13 years$5,310$4,647$4,056$3,532$3,070$2,100
14 years$4,880$4,224$3,644$3,135$2,691$1,777
15 years$4,508$3,858$3,290$2,796$2,369$1,510
16 years$4,182$3,540$2,983$2,504$2,094$1,287
17 years$3,895$3,260$2,714$2,250$1,857$1,099
18 years$3,641$3,013$2,478$2,027$1,651$941
19 years$3,413$2,792$2,268$1,832$1,471$807
20 years$3,208$2,595$2,082$1,659$1,314$694
21 years$3,023$2,417$1,915$1,506$1,176$597
22 years$2,856$2,256$1,765$1,369$1,054$514
23 years$2,703$2,110$1,630$1,247$946$443
24 years$2,562$1,977$1,507$1,137$851$382
25 years$2,434$1,855$1,396$1,039$765$330
26 years$2,315$1,744$1,295$950$689$285
27 years$2,206$1,641$1,202$869$622$246
28 years$2,104$1,546$1,118$796$561$213
29 years$2,010$1,459$1,040$730$506$184
30 years$1,922$1,378$969$670$458$160
31 years$1,839$1,302$903$616$414$138
32 years$1,763$1,232$843$566$374$120
33 years$1,691$1,167$787$520$339$104
34 years$1,623$1,106$735$479$307$90
35 years$1,559$1,049$687$441$278$78
36 years$1,499$996$643$406$252$67
37 years$1,443$946$602$374$228$58
38 years$1,389$899$564$345$207$51
39 years$1,339$855$528$318$188$44
40 years$1,291$813$495$293$170$38
41 years$1,245$774$464$270$154$33
42 years$1,202$737$435$250$140$29
43 years$1,161$702$408$230$127$25
44 years$1,122$669$383$213$115$21
45 years$1,084$638$360$196$105$19
46 years$1,049$609$338$181$95$16
47 years$1,015$581$318$168$86$14
48 years$982$555$298$155$78$12
49 years$951$530$281$143$71$11
50 years$922$506$264$132$65$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $944,000, adding $6,487 every year, while hoping to spend $35,098 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: 41/36/23 Blend
52$944,000$944,000$944,000$944,000
53$1,046,979$996,947$982,315$1,082,585
54$1,116,427$1,008,454$977,879$1,120,212
55$1,191,782$1,019,348$972,118$1,157,082
56$1,273,611$1,029,562$964,950$1,196,289
57$1,362,533$1,039,025$956,290$1,238,065
58$1,459,236$1,047,661$946,050$1,282,671
59$1,564,469$1,055,388$934,134$1,330,393
60$1,679,064$1,062,121$920,446$1,381,550
61$1,803,929$1,067,766$904,882$1,436,494
62$1,940,070$1,072,226$887,335$1,495,617
63$2,088,589$1,075,397$867,693$1,559,350
64$2,250,703$1,077,169$845,838$1,628,175
65$2,427,747$1,077,423$821,647$1,702,620
66$2,621,196$1,076,035$794,990$1,783,275
67$2,832,670$1,072,873$765,734$1,870,789
68$3,063,953$1,067,795$733,738$1,965,882
69$3,317,012$1,060,652$698,853$2,069,352
70$3,594,009$1,051,286$660,927$2,182,078
71$3,897,328$1,039,529$619,798$2,305,037
72$4,229,592$1,025,203$575,298$2,439,307
73$4,593,692$1,008,119$527,252$2,586,080
74$4,992,809$988,078$475,475$2,746,676
75$5,430,449$964,867$419,777$2,922,552
76$5,910,472$938,263$359,957$3,115,321
77$6,437,130$908,027$295,805$3,326,765
78$7,015,106$873,910$227,104$3,558,852
79$7,649,560$835,644$153,625$3,813,761
80$8,346,174$792,950$75,130$4,093,894
81$9,111,208$745,528$0$4,401,911
82$9,951,557$693,065$0$4,742,865
83$10,874,819$635,228$0$5,137,693
84$11,889,362$571,666$0$5,571,587
85$13,004,406$502,006$0$6,048,571
86$14,230,107$425,857$0$6,573,086
87$15,577,656$342,802$0$7,150,030
88$17,059,382$252,404$0$7,784,807
89$18,688,867$154,201$0$8,483,380
90$20,481,077$47,702$0$9,252,323
91$22,452,500$0$0$10,098,893
92$24,621,301$0$0$11,057,873
93$27,007,498$0$0$12,133,909
94$29,633,144$0$0$13,318,067
95$32,522,538$0$0$14,621,323
96$35,702,456$0$0$16,055,774
97$39,202,397$0$0$17,634,745
98$43,054,869$0$0$19,372,922
99$47,295,688$0$0$21,286,484
100$51,964,321$0$0$23,393,263