Can I retire at age 53 with 968,000?

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 $968,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$79,937$79,225$78,530$77,852$77,190$76,832
2 years$39,573$38,836$38,121$37,429$36,757$36,396
3 years$26,120$25,379$24,667$23,981$23,320$22,967
4 years$19,395$18,657$17,951$17,277$16,632$16,290
5 years$15,360$14,627$13,931$13,270$12,643$12,312
6 years$12,672$11,944$11,258$10,612$10,004$9,685
7 years$10,752$10,031$9,356$8,725$8,136$7,829
8 years$9,313$8,598$7,934$7,319$6,750$6,455
9 years$8,195$7,486$6,834$6,234$5,684$5,402
10 years$7,300$6,599$5,958$5,374$4,843$4,573
11 years$6,569$5,874$5,245$4,677$4,165$3,906
12 years$5,960$5,273$4,655$4,102$3,610$3,362
13 years$5,445$4,765$4,159$3,622$3,148$2,912
14 years$5,004$4,331$3,737$3,215$2,759$2,534
15 years$4,622$3,957$3,374$2,867$2,429$2,215
16 years$4,289$3,630$3,059$2,567$2,147$1,944
17 years$3,994$3,343$2,783$2,307$1,904$1,710
18 years$3,733$3,089$2,541$2,079$1,693$1,509
19 years$3,500$2,863$2,326$1,878$1,509$1,335
20 years$3,290$2,660$2,135$1,701$1,348$1,183
21 years$3,100$2,478$1,964$1,544$1,206$1,050
22 years$2,928$2,313$1,810$1,404$1,081$934
23 years$2,771$2,164$1,671$1,278$970$831
24 years$2,628$2,027$1,545$1,166$872$741
25 years$2,496$1,902$1,431$1,065$785$661
26 years$2,374$1,788$1,327$974$707$591
27 years$2,262$1,683$1,233$891$637$528
28 years$2,157$1,586$1,146$817$575$472
29 years$2,061$1,496$1,066$749$519$423
30 years$1,970$1,413$993$687$469$379
31 years$1,886$1,335$926$631$424$339
32 years$1,807$1,264$864$580$384$304
33 years$1,734$1,197$807$533$347$273
34 years$1,664$1,134$754$491$314$245
35 years$1,599$1,076$705$452$285$220
36 years$1,537$1,021$659$416$258$197
37 years$1,479$970$617$383$234$177
38 years$1,425$922$578$353$212$159
39 years$1,373$876$541$326$192$143
40 years$1,323$834$507$301$174$128
41 years$1,277$794$476$277$158$115
42 years$1,232$756$446$256$144$104
43 years$1,190$720$419$236$130$93
44 years$1,150$686$393$218$118$84
45 years$1,112$655$369$201$107$75
46 years$1,075$624$347$186$97$68
47 years$1,041$596$326$172$89$61
48 years$1,007$569$306$159$80$55
49 years$976$543$288$147$73$49
50 years$945$519$270$136$66$44

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $968,000, adding $4,297 every year, while hoping to spend $21,913 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: 76/6/18 Blend
52$968,000$968,000$968,000$968,000
53$1,071,168$1,019,864$1,004,860$1,147,866
54$1,157,112$1,046,522$1,015,208$1,225,848
55$1,251,088$1,073,752$1,025,168$1,308,185
56$1,353,892$1,101,559$1,034,704$1,397,875
57$1,466,400$1,129,947$1,043,777$1,495,645
58$1,589,578$1,158,919$1,052,349$1,602,297
59$1,724,489$1,188,480$1,060,377$1,718,714
60$1,872,303$1,218,632$1,067,816$1,845,867
61$2,034,309$1,249,376$1,074,619$1,984,827
62$2,211,928$1,280,715$1,080,738$2,136,776
63$2,406,723$1,312,648$1,086,120$2,303,013
64$2,620,415$1,345,175$1,090,712$2,484,970
65$2,854,903$1,378,293$1,094,457$2,684,226
66$3,112,275$1,412,002$1,097,293$2,902,520
67$3,394,834$1,446,297$1,099,159$3,141,766
68$3,705,115$1,481,174$1,099,989$3,404,077
69$4,045,911$1,516,625$1,099,713$3,691,778
70$4,420,298$1,552,644$1,098,257$4,007,433
71$4,831,667$1,589,222$1,095,547$4,353,864
72$5,283,751$1,626,347$1,091,502$4,734,185
73$5,780,664$1,664,009$1,086,038$5,151,825
74$6,326,938$1,702,192$1,079,066$5,610,561
75$6,927,566$1,740,880$1,070,496$6,114,558
76$7,588,050$1,780,055$1,060,229$6,668,405
77$8,314,450$1,819,697$1,048,166$7,277,156
78$9,113,445$1,859,782$1,034,200$7,946,384
79$9,992,390$1,900,286$1,018,220$8,682,229
80$10,959,394$1,941,180$1,000,110$9,491,456
81$12,023,386$1,982,432$979,748$10,381,522
82$13,194,210$2,024,009$957,008$11,360,643
83$14,482,707$2,065,873$931,755$12,437,874
84$15,900,825$2,107,983$903,851$13,623,192
85$17,461,729$2,150,295$873,151$14,927,594
86$19,179,925$2,192,758$839,500$16,363,196
87$21,071,395$2,235,321$802,742$17,943,352
88$23,153,752$2,277,926$762,708$19,682,778
89$25,446,400$2,320,511$719,224$21,597,690
90$27,970,725$2,363,007$672,110$23,705,960
91$30,750,287$2,405,343$621,174$26,027,282
92$33,811,051$2,447,439$566,217$28,583,359
93$37,181,626$2,489,211$507,034$31,398,109
94$40,893,538$2,530,569$443,405$34,497,889
95$44,981,526$2,571,414$375,106$37,911,745
96$49,483,869$2,611,640$301,900$41,671,687
97$54,442,749$2,651,137$223,539$45,812,991
98$59,904,648$2,689,781$139,766$50,374,530
99$65,920,786$2,727,444$50,313$55,399,144
100$72,547,605$2,763,988$0$60,934,043