Can I retire at age 53 with 962,000?

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 $962,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$79,441$78,733$78,043$77,369$76,711$76,068
2 years$39,327$38,595$37,885$37,197$36,529$35,881
3 years$25,958$25,222$24,514$23,832$23,176$22,543
4 years$19,274$18,541$17,840$17,170$16,529$15,916
5 years$15,265$14,536$13,845$13,188$12,565$11,974
6 years$12,593$11,870$11,188$10,547$9,942$9,374
7 years$10,686$9,968$9,298$8,671$8,086$7,540
8 years$9,256$8,545$7,885$7,274$6,708$6,185
9 years$8,144$7,440$6,791$6,196$5,649$5,148
10 years$7,255$6,558$5,921$5,341$4,813$4,335
11 years$6,528$5,838$5,213$4,648$4,140$3,683
12 years$5,923$5,240$4,626$4,077$3,587$3,152
13 years$5,411$4,735$4,133$3,599$3,128$2,714
14 years$4,973$4,304$3,714$3,195$2,742$2,348
15 years$4,594$3,932$3,353$2,849$2,414$2,040
16 years$4,262$3,608$3,040$2,551$2,134$1,779
17 years$3,970$3,322$2,766$2,292$1,892$1,556
18 years$3,710$3,070$2,525$2,066$1,682$1,364
19 years$3,478$2,845$2,312$1,867$1,499$1,199
20 years$3,270$2,644$2,122$1,691$1,339$1,056
21 years$3,081$2,463$1,951$1,534$1,199$931
22 years$2,910$2,299$1,799$1,395$1,074$822
23 years$2,754$2,150$1,661$1,271$964$727
24 years$2,611$2,015$1,536$1,159$867$644
25 years$2,480$1,891$1,422$1,058$780$571
26 years$2,359$1,777$1,319$968$703$506
27 years$2,248$1,672$1,225$886$633$449
28 years$2,144$1,576$1,139$812$572$399
29 years$2,048$1,486$1,060$744$516$354
30 years$1,958$1,404$987$683$466$315
31 years$1,875$1,327$920$627$422$280
32 years$1,796$1,256$859$576$381$250
33 years$1,723$1,189$802$530$345$222
34 years$1,654$1,127$749$488$312$198
35 years$1,589$1,069$700$449$283$176
36 years$1,528$1,015$655$414$256$157
37 years$1,470$964$613$381$232$140
38 years$1,416$916$574$351$211$125
39 years$1,364$871$538$324$191$111
40 years$1,315$829$504$299$173$99
41 years$1,269$789$473$276$157$88
42 years$1,225$751$444$254$143$79
43 years$1,183$716$416$235$129$70
44 years$1,143$682$391$217$118$63
45 years$1,105$651$367$200$107$56
46 years$1,069$621$345$185$97$50
47 years$1,034$592$324$171$88$45
48 years$1,001$565$304$158$80$40
49 years$969$540$286$146$73$36
50 years$939$516$269$135$66$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $962,000, adding $2,068 every year, while hoping to spend $29,764 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: 43/35/22 Blend
52$962,000$962,000$962,000$962,000
53$1,062,257$1,011,271$996,360$1,101,046
54$1,138,939$1,029,155$998,070$1,146,648
55$1,222,444$1,046,917$998,839$1,192,983
56$1,313,438$1,064,521$998,605$1,242,581
57$1,412,652$1,081,926$997,301$1,295,762
58$1,520,892$1,099,089$994,859$1,352,873
59$1,639,042$1,115,963$991,206$1,414,302
60$1,768,078$1,132,500$986,266$1,480,475
61$1,909,075$1,148,645$979,959$1,551,863
62$2,063,214$1,164,342$972,201$1,628,987
63$2,231,797$1,179,530$962,904$1,712,422
64$2,416,256$1,194,143$951,978$1,802,801
65$2,618,170$1,208,111$939,325$1,900,824
66$2,839,276$1,221,361$924,845$2,007,266
67$3,081,487$1,233,813$908,432$2,122,979
68$3,346,911$1,245,383$889,977$2,248,907
69$3,637,869$1,255,979$869,364$2,386,089
70$3,956,915$1,265,506$846,471$2,535,673
71$4,306,866$1,273,861$821,174$2,698,929
72$4,690,822$1,280,935$793,338$2,877,254
73$5,112,197$1,286,613$762,827$3,072,194
74$5,574,755$1,290,771$729,495$3,285,452
75$6,082,639$1,293,277$693,192$3,518,911
76$6,640,414$1,293,993$653,760$3,774,646
77$7,253,108$1,292,771$611,032$4,054,948
78$7,926,261$1,289,453$564,838$4,362,346
79$8,665,975$1,283,872$514,996$4,699,629
80$9,478,975$1,275,852$461,318$5,069,876
81$10,372,666$1,265,204$403,608$5,476,483
82$11,355,209$1,251,730$341,660$5,923,196
83$12,435,594$1,235,219$275,260$6,414,150
84$13,623,726$1,215,446$204,183$6,953,906
85$14,930,518$1,192,175$128,195$7,547,494
86$16,367,995$1,165,155$47,053$8,200,465
87$17,949,402$1,134,120$0$8,918,941
88$19,689,337$1,098,787$0$9,718,956
89$21,603,881$1,058,860$0$10,611,068
90$23,710,756$1,014,023$0$11,592,500
91$26,029,485$963,942$0$12,672,381
92$28,581,582$908,265$0$13,860,776
93$31,390,751$846,617$0$15,168,780
94$34,483,111$778,605$0$16,608,623
95$37,887,443$703,812$0$18,193,791
96$41,635,459$621,795$0$19,939,148
97$45,762,103$532,090$0$21,861,081
98$50,305,879$434,204$0$23,977,654
99$55,309,216$327,617$0$26,308,781
100$60,818,865$211,780$0$28,876,413