Can I retire at age 53 with 948,000?

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 $948,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$78,285$77,588$76,907$76,243$75,595$74,281
2 years$38,755$38,033$37,334$36,655$35,998$34,679
3 years$25,580$24,855$24,157$23,485$22,838$21,555
4 years$18,994$18,271$17,580$16,920$16,288$15,050
5 years$15,043$14,325$13,643$12,996$12,382$11,193
6 years$12,410$11,697$11,026$10,393$9,798$8,659
7 years$10,530$9,823$9,162$8,545$7,968$6,880
8 years$9,121$8,420$7,770$7,168$6,610$5,572
9 years$8,025$7,331$6,693$6,106$5,567$4,579
10 years$7,149$6,462$5,835$5,263$4,743$3,804
11 years$6,433$5,753$5,137$4,580$4,079$3,188
12 years$5,837$5,164$4,559$4,018$3,535$2,691
13 years$5,333$4,666$4,073$3,547$3,083$2,284
14 years$4,901$4,242$3,660$3,149$2,702$1,947
15 years$4,527$3,875$3,304$2,808$2,379$1,667
16 years$4,200$3,555$2,996$2,514$2,103$1,431
17 years$3,912$3,274$2,726$2,259$1,864$1,233
18 years$3,656$3,025$2,488$2,036$1,658$1,064
19 years$3,427$2,804$2,278$1,840$1,478$920
20 years$3,222$2,606$2,091$1,666$1,320$797
21 years$3,036$2,427$1,923$1,512$1,181$691
22 years$2,868$2,265$1,772$1,375$1,059$601
23 years$2,714$2,119$1,636$1,252$950$522
24 years$2,573$1,985$1,513$1,142$854$454
25 years$2,444$1,863$1,402$1,043$769$396
26 years$2,325$1,751$1,300$954$692$345
27 years$2,215$1,648$1,207$873$624$301
28 years$2,113$1,553$1,122$800$563$263
29 years$2,018$1,465$1,044$733$509$229
30 years$1,930$1,383$973$673$460$200
31 years$1,847$1,308$907$618$415$175
32 years$1,770$1,237$846$568$376$153
33 years$1,698$1,172$790$522$340$134
34 years$1,630$1,111$738$481$308$117
35 years$1,566$1,053$690$442$279$102
36 years$1,506$1,000$646$407$253$89
37 years$1,449$950$604$375$229$78
38 years$1,395$902$566$346$208$68
39 years$1,344$858$530$319$188$60
40 years$1,296$816$497$294$171$52
41 years$1,250$777$466$272$155$46
42 years$1,207$740$437$251$141$40
43 years$1,166$705$410$231$128$35
44 years$1,126$672$385$214$116$31
45 years$1,089$641$362$197$105$27
46 years$1,053$612$340$182$95$24
47 years$1,019$584$319$168$87$21
48 years$987$557$300$156$79$18
49 years$955$532$282$144$72$16
50 years$926$508$265$133$65$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $948,000, adding $3,954 every year, while hoping to spend $56,040 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: 56/17/27 Blend
52$948,000$948,000$948,000$948,000
53$1,048,775$998,531$983,837$1,099,519
54$1,096,123$987,832$957,169$1,124,135
55$1,146,424$974,732$927,730$1,144,765
56$1,199,917$959,052$895,367$1,166,094
57$1,256,869$940,605$859,922$1,188,209
58$1,317,568$919,194$821,227$1,211,205
59$1,382,332$894,606$779,111$1,235,194
60$1,451,508$866,621$733,390$1,260,298
61$1,525,479$835,002$683,875$1,286,660
62$1,604,661$799,500$630,368$1,314,437
63$1,689,512$759,851$572,661$1,343,806
64$1,780,535$715,777$510,538$1,374,968
65$1,878,281$666,981$443,772$1,408,148
66$1,983,355$613,153$372,129$1,443,597
67$2,096,422$553,962$295,360$1,481,599
68$2,218,211$489,060$213,208$1,522,468
69$2,349,523$418,079$125,405$1,566,560
70$2,491,238$340,628$31,669$1,614,270
71$2,644,323$256,297$0$1,666,039
72$2,809,840$164,652$0$1,742,056
73$2,988,958$65,234$0$1,834,193
74$3,182,960$0$0$1,934,021
75$3,393,258$0$0$2,050,259
76$3,621,403$0$0$2,189,673
77$3,869,103$0$0$2,341,111
78$4,138,236$0$0$2,505,731
79$4,430,867$0$0$2,684,805
80$4,749,267$0$0$2,879,735
81$5,095,938$0$0$3,092,062
82$5,473,630$0$0$3,323,482
83$5,885,371$0$0$3,575,861
84$6,334,492$0$0$3,851,255
85$6,824,661$0$0$4,151,925
86$7,359,915$0$0$4,480,360
87$7,944,698$0$0$4,839,301
88$8,583,901$0$0$5,231,765
89$9,282,913$0$0$5,661,075
90$10,047,662$0$0$6,130,887
91$10,884,679$0$0$6,645,231
92$11,801,155$0$0$7,208,541
93$12,805,007$0$0$7,825,702
94$13,904,957$0$0$8,502,092
95$15,110,608$0$0$9,243,637
96$16,432,537$0$0$10,056,861
97$17,882,393$0$0$10,948,951
98$19,473,006$0$0$11,927,821
99$21,218,511$0$0$13,002,192
100$23,134,474$0$0$14,181,667