Can I retire at age 53 with 950,000?

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 $950,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.4%
1 years$78,450$77,751$77,070$76,404$75,754$73,773
2 years$38,837$38,113$37,412$36,733$36,073$34,091
3 years$25,634$24,908$24,208$23,535$22,887$20,965
4 years$19,034$18,310$17,617$16,956$16,323$14,477
5 years$15,075$14,355$13,672$13,024$12,408$10,643
6 years$12,436$11,722$11,049$10,415$9,818$8,135
7 years$10,552$9,844$9,182$8,563$7,985$6,384
8 years$9,140$8,438$7,787$7,183$6,624$5,105
9 years$8,042$7,347$6,707$6,118$5,579$4,140
10 years$7,165$6,476$5,847$5,274$4,753$3,393
11 years$6,447$5,765$5,148$4,590$4,088$2,804
12 years$5,849$5,175$4,568$4,026$3,543$2,333
13 years$5,344$4,676$4,082$3,554$3,089$1,951
14 years$4,911$4,251$3,667$3,155$2,708$1,639
15 years$4,536$3,883$3,311$2,814$2,384$1,382
16 years$4,209$3,563$3,002$2,520$2,107$1,168
17 years$3,920$3,281$2,732$2,264$1,868$990
18 years$3,664$3,032$2,494$2,040$1,661$841
19 years$3,435$2,810$2,283$1,843$1,481$715
20 years$3,229$2,611$2,095$1,670$1,323$610
21 years$3,043$2,432$1,927$1,515$1,184$520
22 years$2,874$2,270$1,776$1,378$1,061$444
23 years$2,720$2,123$1,640$1,255$952$380
24 years$2,579$1,989$1,517$1,144$856$325
25 years$2,449$1,867$1,405$1,045$770$278
26 years$2,330$1,755$1,303$956$694$238
27 years$2,220$1,651$1,210$875$626$204
28 years$2,117$1,556$1,125$801$564$175
29 years$2,022$1,468$1,047$735$510$150
30 years$1,934$1,386$975$674$461$128
31 years$1,851$1,311$909$619$416$110
32 years$1,774$1,240$848$569$377$95
33 years$1,701$1,174$792$523$341$81
34 years$1,633$1,113$740$482$309$70
35 years$1,569$1,056$692$443$280$60
36 years$1,509$1,002$647$408$253$51
37 years$1,452$952$606$376$230$44
38 years$1,398$904$567$347$208$38
39 years$1,347$860$531$320$189$32
40 years$1,299$818$498$295$171$28
41 years$1,253$779$467$272$155$24
42 years$1,209$742$438$251$141$21
43 years$1,168$707$411$232$128$18
44 years$1,129$674$386$214$116$15
45 years$1,091$642$362$198$105$13
46 years$1,055$613$340$183$96$11
47 years$1,021$585$320$169$87$10
48 years$989$558$300$156$79$8
49 years$957$533$282$144$72$7
50 years$928$509$265$133$65$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $950,000, adding $4,498 every year, while hoping to spend $53,821 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: 57/19/24 Blend
52$950,000$950,000$950,000$950,000
53$1,051,540$1,001,190$986,465$1,104,394
54$1,101,532$992,983$962,246$1,132,826
55$1,154,819$982,570$935,412$1,157,703
56$1,211,681$969,786$905,819$1,183,672
57$1,272,423$954,457$873,315$1,210,854
58$1,337,382$936,397$837,742$1,239,384
59$1,406,924$915,409$798,936$1,269,412
60$1,481,453$891,287$756,723$1,301,107
61$1,561,411$863,810$710,923$1,334,659
62$1,647,284$832,746$661,348$1,370,280
63$1,739,604$797,847$607,800$1,408,207
64$1,838,956$758,854$550,074$1,448,704
65$1,945,982$715,490$487,954$1,492,066
66$2,061,387$667,465$421,216$1,538,622
67$2,185,947$614,469$349,625$1,588,741
68$2,320,512$556,176$272,935$1,642,830
69$2,466,018$492,243$190,893$1,701,346
70$2,623,493$422,304$103,229$1,764,796
71$2,794,068$345,976$9,666$1,833,744
72$2,978,986$262,851$0$1,908,818
73$3,179,612$172,501$0$2,013,810
74$3,397,451$74,472$0$2,130,544
75$3,634,155$0$0$2,257,485
76$3,891,543$0$0$2,402,304
77$4,171,616$0$0$2,576,902
78$4,476,575$0$0$2,767,090
79$4,808,843$0$0$2,974,389
80$5,171,086$0$0$3,200,471
81$5,566,236$0$0$3,447,179
82$5,997,525$0$0$3,716,539
83$6,468,507$0$0$4,010,783
84$6,983,094$0$0$4,332,367
85$7,545,596$0$0$4,683,996
86$8,160,755$0$0$5,068,647
87$8,833,793$0$0$5,489,600
88$9,570,462$0$0$5,950,464
89$10,377,093$0$0$6,455,216
90$11,260,659$0$0$7,008,233
91$12,228,840$0$0$7,614,338
92$13,290,093$0$0$8,278,840
93$14,453,731$0$0$9,007,588
94$15,730,015$0$0$9,807,024
95$17,130,242$0$0$10,684,244
96$18,666,859$0$0$11,647,062
97$20,353,575$0$0$12,704,088
98$22,205,490$0$0$13,864,805
99$24,239,241$0$0$15,139,659
100$26,473,151$0$0$16,540,159