Can I retire at age 53 with 956,000?

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 $956,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$78,946$78,242$77,556$76,887$76,233$75,249
2 years$39,082$38,354$37,649$36,965$36,301$35,312
3 years$25,796$25,065$24,361$23,684$23,031$22,066
4 years$19,154$18,425$17,729$17,063$16,426$15,493
5 years$15,170$14,446$13,758$13,106$12,487$11,589
6 years$12,515$11,796$11,119$10,481$9,880$9,019
7 years$10,619$9,906$9,240$8,617$8,035$7,210
8 years$9,198$8,491$7,836$7,228$6,666$5,877
9 years$8,093$7,393$6,749$6,157$5,614$4,861
10 years$7,210$6,517$5,884$5,307$4,783$4,065
11 years$6,488$5,802$5,180$4,619$4,114$3,431
12 years$5,886$5,207$4,597$4,052$3,565$2,916
13 years$5,378$4,706$4,107$3,577$3,109$2,493
14 years$4,942$4,277$3,691$3,175$2,725$2,141
15 years$4,565$3,908$3,332$2,832$2,399$1,847
16 years$4,235$3,585$3,021$2,535$2,121$1,598
17 years$3,945$3,302$2,749$2,278$1,880$1,387
18 years$3,687$3,051$2,509$2,053$1,672$1,207
19 years$3,456$2,828$2,297$1,855$1,490$1,052
20 years$3,249$2,628$2,108$1,680$1,331$919
21 years$3,062$2,447$1,939$1,525$1,191$804
22 years$2,892$2,285$1,787$1,386$1,068$704
23 years$2,737$2,137$1,650$1,263$958$617
24 years$2,595$2,002$1,526$1,152$861$542
25 years$2,465$1,879$1,414$1,052$775$476
26 years$2,345$1,766$1,311$962$698$419
27 years$2,234$1,662$1,217$880$630$368
28 years$2,131$1,566$1,132$806$568$324
29 years$2,035$1,477$1,053$740$513$286
30 years$1,946$1,395$981$679$463$252
31 years$1,863$1,319$915$623$419$222
32 years$1,785$1,248$853$573$379$196
33 years$1,712$1,182$797$527$343$173
34 years$1,644$1,120$744$485$311$152
35 years$1,579$1,062$696$446$281$134
36 years$1,518$1,008$651$411$255$119
37 years$1,461$958$609$379$231$105
38 years$1,407$910$571$349$209$93
39 years$1,356$865$535$322$190$82
40 years$1,307$823$501$297$172$72
41 years$1,261$784$470$274$156$64
42 years$1,217$746$441$253$142$56
43 years$1,175$711$414$233$129$50
44 years$1,136$678$388$215$117$44
45 years$1,098$646$365$199$106$39
46 years$1,062$617$342$184$96$34
47 years$1,028$589$322$170$87$30
48 years$995$562$302$157$79$27
49 years$963$537$284$145$72$24
50 years$933$513$267$134$65$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $956,000, adding $5,629 every year, while hoping to spend $57,508 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: 40/32/28 Blend
52$956,000$956,000$956,000$956,000
53$1,059,318$1,008,650$993,832$1,092,744
54$1,106,181$996,886$965,938$1,105,792
55$1,155,896$982,618$935,181$1,114,144
56$1,208,693$965,663$901,406$1,122,082
57$1,264,826$945,826$864,449$1,129,607
58$1,324,568$922,901$824,138$1,136,720
59$1,388,222$896,672$780,295$1,143,431
60$1,456,119$866,906$732,732$1,149,752
61$1,528,619$833,361$681,255$1,155,706
62$1,606,119$795,776$625,658$1,161,321
63$1,689,054$753,880$565,728$1,166,635
64$1,777,900$707,383$501,243$1,171,698
65$1,873,181$655,980$431,969$1,176,569
66$1,975,469$599,347$357,664$1,181,323
67$2,085,394$537,142$278,073$1,186,049
68$2,203,647$469,004$192,931$1,190,854
69$2,330,986$394,553$101,961$1,195,864
70$2,468,244$313,384$4,875$1,201,229
71$2,616,337$225,072$0$1,207,120
72$2,776,271$129,167$0$1,243,237
73$2,949,148$25,195$0$1,283,787
74$3,136,185$0$0$1,327,679
75$3,338,716$0$0$1,406,078
76$3,558,208$0$0$1,500,763
77$3,796,275$0$0$1,603,571
78$4,054,692$0$0$1,715,281
79$4,335,409$0$0$1,836,752
80$4,640,575$0$0$1,968,929
81$4,972,550$0$0$2,112,850
82$5,333,934$0$0$2,269,658
83$5,727,587$0$0$2,440,611
84$6,156,653$0$0$2,627,094
85$6,624,598$0$0$2,830,631
86$7,135,231$0$0$3,052,900
87$7,692,750$0$0$3,295,746
88$8,301,771$0$0$3,561,204
89$8,967,380$0$0$3,851,510
90$9,695,175$0$0$4,169,131
91$10,491,318$0$0$4,516,779
92$11,362,595$0$0$4,897,442
93$12,316,479$0$0$5,314,412
94$13,361,199$0$0$5,771,311
95$14,505,816$0$0$6,272,132
96$15,760,309$0$0$6,821,269
97$17,135,671$0$0$7,423,563
98$18,644,005$0$0$8,084,347
99$20,298,645$0$0$8,809,493
100$22,114,276$0$0$9,605,472