Can I retire at age 53 with 947,000?

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 $947,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$78,202$77,506$76,826$76,163$75,515$73,749
2 years$38,714$37,993$37,294$36,617$35,960$34,191
3 years$25,553$24,829$24,132$23,461$22,814$21,098
4 years$18,974$18,252$17,562$16,902$16,271$14,620
5 years$15,027$14,310$13,629$12,982$12,369$10,788
6 years$12,397$11,685$11,014$10,382$9,787$8,277
7 years$10,519$9,813$9,153$8,536$7,960$6,522
8 years$9,111$8,412$7,762$7,160$6,603$5,236
9 years$8,017$7,324$6,686$6,099$5,561$4,264
10 years$7,142$6,456$5,829$5,257$4,738$3,510
11 years$6,427$5,747$5,131$4,576$4,075$2,914
12 years$5,831$5,158$4,554$4,013$3,531$2,435
13 years$5,327$4,661$4,069$3,543$3,079$2,046
14 years$4,896$4,237$3,656$3,145$2,699$1,727
15 years$4,522$3,871$3,301$2,805$2,377$1,463
16 years$4,196$3,551$2,993$2,512$2,101$1,243
17 years$3,908$3,271$2,723$2,257$1,863$1,059
18 years$3,652$3,022$2,486$2,034$1,656$904
19 years$3,424$2,801$2,276$1,838$1,476$773
20 years$3,219$2,603$2,088$1,664$1,318$662
21 years$3,033$2,424$1,921$1,510$1,180$568
22 years$2,865$2,263$1,771$1,373$1,058$488
23 years$2,711$2,117$1,635$1,251$949$419
24 years$2,571$1,983$1,512$1,141$853$361
25 years$2,442$1,861$1,400$1,042$768$310
26 years$2,323$1,749$1,299$953$692$267
27 years$2,213$1,646$1,206$872$624$230
28 years$2,111$1,551$1,121$799$563$198
29 years$2,016$1,463$1,043$733$508$171
30 years$1,928$1,382$972$672$459$148
31 years$1,845$1,306$906$617$415$127
32 years$1,768$1,236$845$567$375$110
33 years$1,696$1,171$789$522$340$95
34 years$1,628$1,109$737$480$308$82
35 years$1,564$1,052$689$442$279$71
36 years$1,504$999$645$407$252$61
37 years$1,447$949$604$375$229$53
38 years$1,394$902$565$346$207$46
39 years$1,343$857$530$319$188$39
40 years$1,295$816$496$294$171$34
41 years$1,249$776$465$271$155$29
42 years$1,206$739$437$250$140$25
43 years$1,164$705$410$231$127$22
44 years$1,125$672$385$213$116$19
45 years$1,088$640$361$197$105$16
46 years$1,052$611$339$182$95$14
47 years$1,018$583$319$168$87$12
48 years$985$557$299$155$79$11
49 years$954$531$281$144$71$9
50 years$925$508$265$133$65$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $947,000, adding $5,408 every year, while hoping to spend $30,931 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: 70/5/25 Blend
52$947,000$947,000$947,000$947,000
53$1,049,172$998,981$984,303$1,115,589
54$1,123,278$1,015,021$984,367$1,176,776
55$1,203,905$1,030,810$983,396$1,239,634
56$1,291,687$1,046,303$981,323$1,307,714
57$1,387,320$1,061,453$978,078$1,381,532
58$1,491,569$1,076,207$973,587$1,461,657
59$1,605,278$1,090,510$967,771$1,548,717
60$1,729,375$1,104,304$960,550$1,643,403
61$1,864,882$1,117,525$951,839$1,746,477
62$2,012,922$1,130,106$941,547$1,858,782
63$2,174,733$1,141,974$929,582$1,981,244
64$2,351,679$1,153,054$915,846$2,114,884
65$2,545,259$1,163,263$900,237$2,260,831
66$2,757,127$1,172,514$882,646$2,420,326
67$2,989,101$1,180,714$862,961$2,594,738
68$3,243,184$1,187,765$841,066$2,785,579
69$3,521,584$1,193,560$816,837$2,994,512
70$3,826,731$1,197,989$790,145$3,223,373
71$4,161,299$1,200,932$760,857$3,474,186
72$4,528,237$1,202,263$728,831$3,749,181
73$4,930,790$1,201,848$693,920$4,050,818
74$5,372,536$1,199,543$655,972$4,381,809
75$5,857,412$1,195,198$614,824$4,745,141
76$6,389,756$1,188,652$570,309$5,144,110
77$6,974,349$1,179,733$522,253$5,582,350
78$7,616,455$1,168,263$470,470$6,063,863
79$8,321,874$1,154,047$414,771$6,593,065
80$9,096,994$1,136,885$354,955$7,174,823
81$9,948,854$1,116,559$290,813$7,814,500
82$10,885,209$1,092,843$222,127$8,518,011
83$11,914,602$1,065,493$148,670$9,291,874
84$13,046,445$1,034,256$70,204$10,143,275
85$14,291,107$998,859$0$11,080,134
86$15,660,013$959,017$0$12,114,795
87$17,165,751$914,425$0$13,273,490
88$18,822,189$864,763$0$14,548,153
89$20,644,609$809,693$0$15,950,555
90$22,649,845$748,854$0$17,493,662
91$24,856,449$681,868$0$19,191,766
92$27,284,862$608,334$0$21,060,611
93$29,957,603$527,828$0$23,117,548
94$32,899,489$439,902$0$25,381,695
95$36,137,863$344,084$0$27,874,120
96$39,702,854$239,873$0$30,618,037
97$43,627,661$126,742$0$33,639,027
98$47,948,864$4,133$0$36,965,279
99$52,706,771$0$0$40,627,855
100$57,945,800$0$0$44,668,058