Can I retire at age 53 with 958,000?

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 $958,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.7%
1 years$79,111$78,406$77,719$77,048$76,392$74,304
2 years$39,164$38,434$37,727$37,042$36,377$34,289
3 years$25,850$25,117$24,412$23,733$23,079$21,056
4 years$19,194$18,464$17,766$17,098$16,460$14,518
5 years$15,202$14,476$13,787$13,133$12,513$10,656
6 years$12,541$11,821$11,142$10,503$9,901$8,132
7 years$10,641$9,927$9,259$8,635$8,052$6,371
8 years$9,217$8,509$7,852$7,244$6,680$5,085
9 years$8,110$7,409$6,763$6,170$5,626$4,116
10 years$7,225$6,531$5,896$5,319$4,793$3,367
11 years$6,501$5,814$5,191$4,629$4,122$2,778
12 years$5,898$5,218$4,607$4,060$3,572$2,306
13 years$5,389$4,716$4,116$3,584$3,115$1,925
14 years$4,952$4,286$3,698$3,182$2,731$1,614
15 years$4,575$3,916$3,339$2,838$2,404$1,358
16 years$4,244$3,593$3,027$2,541$2,125$1,145
17 years$3,953$3,309$2,755$2,283$1,884$969
18 years$3,695$3,057$2,515$2,057$1,675$821
19 years$3,464$2,833$2,302$1,859$1,493$697
20 years$3,256$2,633$2,113$1,684$1,334$592
21 years$3,068$2,453$1,943$1,528$1,194$504
22 years$2,898$2,289$1,791$1,389$1,070$429
23 years$2,743$2,141$1,654$1,265$960$366
24 years$2,600$2,006$1,529$1,154$863$312
25 years$2,470$1,883$1,417$1,054$777$267
26 years$2,350$1,769$1,314$964$700$228
27 years$2,238$1,665$1,220$882$631$195
28 years$2,135$1,569$1,134$808$569$167
29 years$2,039$1,480$1,055$741$514$142
30 years$1,950$1,398$983$680$464$122
31 years$1,867$1,322$916$625$420$104
32 years$1,789$1,250$855$574$380$89
33 years$1,716$1,184$798$528$344$76
34 years$1,647$1,122$746$486$311$65
35 years$1,582$1,065$697$447$282$56
36 years$1,522$1,010$652$412$255$48
37 years$1,464$960$611$379$231$41
38 years$1,410$912$572$350$210$35
39 years$1,358$867$536$322$190$30
40 years$1,310$825$502$297$173$26
41 years$1,264$785$471$274$157$22
42 years$1,220$748$442$253$142$19
43 years$1,178$713$414$234$129$16
44 years$1,138$679$389$216$117$14
45 years$1,100$648$365$199$106$12
46 years$1,064$618$343$184$96$10
47 years$1,030$590$322$170$88$9
48 years$997$563$303$157$80$7
49 years$965$538$285$145$72$6
50 years$935$514$268$134$66$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $958,000, adding $4,834 every year, while hoping to spend $22,989 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: 62/17/21 Blend
52$958,000$958,000$958,000$958,000
53$1,060,702$1,009,928$995,079$1,120,390
54$1,144,434$1,034,955$1,003,954$1,186,302
55$1,235,935$1,060,437$1,012,356$1,255,248
56$1,335,975$1,086,373$1,020,245$1,329,999
57$1,445,400$1,112,760$1,027,578$1,411,124
58$1,565,140$1,139,594$1,034,311$1,499,248
59$1,696,221$1,166,871$1,040,397$1,595,062
60$1,839,773$1,194,585$1,045,788$1,699,325
61$1,997,039$1,222,729$1,050,431$1,812,875
62$2,169,388$1,251,295$1,054,272$1,936,634
63$2,358,330$1,280,272$1,057,254$2,071,620
64$2,565,526$1,309,652$1,059,318$2,218,951
65$2,792,805$1,339,420$1,060,400$2,379,863
66$3,042,182$1,369,563$1,060,435$2,555,716
67$3,315,878$1,400,065$1,059,353$2,748,008
68$3,616,338$1,430,908$1,057,082$2,958,392
69$3,946,255$1,462,074$1,053,545$3,188,689
70$4,308,597$1,493,539$1,048,663$3,440,904
71$4,706,633$1,525,281$1,042,352$3,717,248
72$5,143,963$1,557,273$1,034,524$4,020,157
73$5,624,553$1,589,486$1,025,087$4,352,318
74$6,152,775$1,621,888$1,013,945$4,716,690
75$6,733,443$1,654,446$1,000,997$5,116,534
76$7,371,862$1,687,121$986,137$5,555,445
77$8,073,874$1,719,872$969,256$6,037,385
78$8,845,920$1,752,656$950,236$6,566,719
79$9,695,092$1,785,425$928,957$7,148,261
80$10,629,207$1,818,126$905,293$7,787,312
81$11,656,876$1,850,704$879,110$8,489,719
82$12,787,586$1,883,098$850,269$9,261,924
83$14,031,794$1,915,243$818,627$10,111,025
84$15,401,016$1,947,070$784,030$11,044,848
85$16,907,946$1,978,502$746,321$12,072,018
86$18,566,567$2,009,459$705,334$13,202,037
87$20,392,288$2,039,855$660,894$14,445,382
88$22,402,090$2,069,596$612,822$15,813,598
89$24,614,679$2,098,582$560,928$17,319,407
90$27,050,671$2,126,707$505,014$18,976,834
91$29,732,781$2,153,857$444,873$20,801,333
92$32,686,039$2,179,911$380,291$22,809,937
93$35,938,025$2,204,737$311,041$25,021,419
94$39,519,132$2,228,197$236,888$27,456,467
95$43,462,847$2,250,142$157,588$30,137,883
96$47,806,073$2,270,415$72,883$33,090,796
97$52,589,474$2,288,846$0$36,342,901
98$57,857,858$2,305,257$0$39,928,646
99$63,660,601$2,319,456$0$43,895,426
100$70,052,113$2,331,241$0$48,264,034