Can I retire at age 53 with 945,000?

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 $945,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$78,037$77,342$76,664$76,002$75,356$74,016
2 years$38,632$37,913$37,215$36,539$35,884$34,538
3 years$25,499$24,776$24,081$23,411$22,766$21,457
4 years$18,934$18,213$17,525$16,866$16,237$14,975
5 years$14,996$14,279$13,600$12,955$12,343$11,131
6 years$12,371$11,660$10,991$10,360$9,767$8,606
7 years$10,497$9,792$9,133$8,518$7,943$6,834
8 years$9,092$8,394$7,746$7,145$6,589$5,532
9 years$8,000$7,308$6,671$6,086$5,549$4,543
10 years$7,127$6,442$5,816$5,246$4,728$3,772
11 years$6,413$5,735$5,121$4,566$4,066$3,159
12 years$5,818$5,147$4,544$4,005$3,524$2,665
13 years$5,316$4,652$4,060$3,536$3,073$2,260
14 years$4,885$4,228$3,648$3,139$2,694$1,926
15 years$4,513$3,863$3,294$2,799$2,372$1,647
16 years$4,187$3,544$2,986$2,506$2,096$1,414
17 years$3,900$3,264$2,717$2,252$1,859$1,217
18 years$3,645$3,016$2,481$2,029$1,653$1,049
19 years$3,417$2,795$2,271$1,834$1,473$907
20 years$3,212$2,597$2,084$1,661$1,316$785
21 years$3,027$2,419$1,917$1,507$1,177$680
22 years$2,859$2,258$1,767$1,370$1,055$591
23 years$2,705$2,112$1,631$1,248$947$513
24 years$2,565$1,979$1,509$1,138$852$446
25 years$2,436$1,857$1,397$1,040$766$388
26 years$2,318$1,745$1,296$951$690$338
27 years$2,208$1,643$1,203$870$622$295
28 years$2,106$1,548$1,119$797$561$257
29 years$2,012$1,460$1,041$731$507$224
30 years$1,924$1,379$970$671$458$196
31 years$1,841$1,304$904$616$414$171
32 years$1,764$1,233$843$566$375$149
33 years$1,692$1,168$788$521$339$130
34 years$1,625$1,107$736$479$307$114
35 years$1,561$1,050$688$441$278$99
36 years$1,501$997$644$406$252$87
37 years$1,444$947$602$374$228$76
38 years$1,391$900$564$345$207$66
39 years$1,340$855$529$318$188$58
40 years$1,292$814$495$293$170$51
41 years$1,246$775$464$271$154$44
42 years$1,203$738$436$250$140$39
43 years$1,162$703$409$231$127$34
44 years$1,123$670$384$213$115$30
45 years$1,085$639$360$197$105$26
46 years$1,050$610$338$182$95$23
47 years$1,016$582$318$168$86$20
48 years$983$555$299$155$78$17
49 years$952$530$281$143$71$15
50 years$923$507$264$132$65$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $945,000, adding $2,867 every year, while hoping to spend $44,859 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: 46/47/7 Blend
52$945,000$945,000$945,000$945,000
53$1,044,347$994,262$979,615$1,090,258
54$1,103,141$995,252$964,702$1,123,135
55$1,166,428$994,786$947,787$1,153,872
56$1,234,620$992,746$928,754$1,186,169
57$1,308,168$989,007$907,483$1,220,186
58$1,387,567$983,435$883,850$1,256,097
59$1,473,363$975,887$857,723$1,294,100
60$1,566,155$966,214$828,966$1,334,416
61$1,666,600$954,256$797,433$1,377,288
62$1,775,423$939,844$762,977$1,422,989
63$1,893,419$922,800$725,439$1,471,823
64$2,021,462$902,932$684,657$1,524,129
65$2,160,516$880,040$640,458$1,580,283
66$2,311,639$853,912$592,663$1,640,703
67$2,475,995$824,323$541,086$1,705,856
68$2,654,865$791,033$485,531$1,776,260
69$2,849,659$753,792$425,794$1,852,490
70$3,061,928$712,331$361,662$1,935,185
71$3,293,379$666,370$292,912$2,025,057
72$3,545,891$615,609$219,311$2,122,893
73$3,821,531$559,733$140,618$2,229,569
74$4,122,576$498,409$56,577$2,346,056
75$4,451,533$431,284$0$2,473,433
76$4,811,159$357,987$0$2,615,366
77$5,204,492$278,124$0$2,775,380
78$5,634,877$191,279$0$2,950,733
79$6,105,997$97,013$0$3,143,077
80$6,621,906$0$0$3,354,239
81$7,187,070$0$0$3,588,898
82$7,806,408$0$0$3,901,140
83$8,485,335$0$0$4,243,535
84$9,229,817$0$0$4,619,105
85$10,046,424$0$0$5,031,180
86$10,942,392$0$0$5,483,425
87$11,925,693$0$0$5,979,880
88$13,005,107$0$0$6,524,994
89$14,190,306$0$0$7,123,667
90$15,491,943$0$0$7,781,297
91$16,921,755$0$0$8,503,834
92$18,492,672$0$0$9,297,827
93$20,218,936$0$0$10,170,496
94$22,116,240$0$0$11,129,792
95$24,201,870$0$0$12,184,477
96$26,494,872$0$0$13,344,201
97$29,016,230$0$0$14,619,601
98$31,789,060$0$0$16,022,391
99$34,838,835$0$0$17,565,481
100$38,193,616$0$0$19,263,093