Can I retire at age 53 with 296,000?

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 $296,000?

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$24,443$24,226$24,013$23,806$23,603$23,494
2 years$12,101$11,875$11,657$11,445$11,240$11,129
3 years$7,987$7,761$7,543$7,333$7,131$7,023
4 years$5,931$5,705$5,489$5,283$5,086$4,981
5 years$4,697$4,473$4,260$4,058$3,866$3,765
6 years$3,875$3,652$3,443$3,245$3,059$2,962
7 years$3,288$3,067$2,861$2,668$2,488$2,394
8 years$2,848$2,629$2,426$2,238$2,064$1,974
9 years$2,506$2,289$2,090$1,906$1,738$1,652
10 years$2,232$2,018$1,822$1,643$1,481$1,398
11 years$2,009$1,796$1,604$1,430$1,274$1,195
12 years$1,822$1,612$1,423$1,254$1,104$1,028
13 years$1,665$1,457$1,272$1,107$963$890
14 years$1,530$1,324$1,143$983$844$775
15 years$1,413$1,210$1,032$877$743$677
16 years$1,311$1,110$935$785$657$594
17 years$1,221$1,022$851$705$582$523
18 years$1,142$945$777$636$518$462
19 years$1,070$875$711$574$461$408
20 years$1,006$814$653$520$412$362
21 years$948$758$600$472$369$321
22 years$895$707$553$429$331$286
23 years$847$662$511$391$297$254
24 years$803$620$473$357$267$227
25 years$763$582$438$326$240$202
26 years$726$547$406$298$216$181
27 years$692$515$377$273$195$161
28 years$660$485$350$250$176$144
29 years$630$457$326$229$159$129
30 years$603$432$304$210$143$116
31 years$577$408$283$193$130$104
32 years$553$386$264$177$117$93
33 years$530$366$247$163$106$83
34 years$509$347$230$150$96$75
35 years$489$329$215$138$87$67
36 years$470$312$202$127$79$60
37 years$452$297$189$117$72$54
38 years$436$282$177$108$65$49
39 years$420$268$166$100$59$44
40 years$405$255$155$92$53$39
41 years$390$243$145$85$48$35
42 years$377$231$136$78$44$32
43 years$364$220$128$72$40$29
44 years$352$210$120$67$36$26
45 years$340$200$113$62$33$23
46 years$329$191$106$57$30$21
47 years$318$182$100$53$27$19
48 years$308$174$94$49$25$17
49 years$298$166$88$45$22$15
50 years$289$159$83$41$20$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $296,000, adding $5,771 every year, while hoping to spend $22,008 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: 48/25/27 Blend
52$296,000$296,000$296,000$296,000
53$332,145$316,457$311,869$345,289
54$342,607$308,547$298,900$347,194
55$353,399$299,512$284,759$346,639
56$364,531$289,273$269,384$345,605
57$376,014$277,748$252,709$344,058
58$387,858$264,848$234,665$341,962
59$400,075$250,482$215,182$339,279
60$412,677$234,550$194,185$335,968
61$425,676$216,948$171,597$331,988
62$439,085$197,568$147,335$327,292
63$452,916$176,294$121,314$321,834
64$467,182$153,001$93,448$315,565
65$481,898$127,561$63,641$308,431
66$497,077$99,838$31,799$300,377
67$512,735$69,685$0$291,345
68$528,886$36,951$0$281,902
69$545,545$1,475$0$281,173
70$562,729$0$0$279,950
71$580,454$0$0$288,349
72$598,738$0$0$297,432
73$617,597$0$0$306,801
74$637,050$0$0$316,464
75$657,117$0$0$326,433
76$677,815$0$0$336,715
77$699,164$0$0$347,320
78$721,187$0$0$358,260
79$743,903$0$0$369,545
80$767,334$0$0$381,184
81$791,503$0$0$393,191
82$816,433$0$0$405,575
83$842,149$0$0$418,350
84$868,674$0$0$431,526
85$896,035$0$0$445,118
86$924,257$0$0$459,138
87$953,367$0$0$473,599
88$983,395$0$0$488,515
89$1,014,368$0$0$503,901
90$1,046,316$0$0$519,772
91$1,079,270$0$0$536,142
92$1,113,262$0$0$553,028
93$1,148,323$0$0$570,445
94$1,184,489$0$0$588,410
95$1,221,793$0$0$606,942
96$1,260,272$0$0$626,056
97$1,299,962$0$0$645,772
98$1,340,901$0$0$666,109
99$1,383,129$0$0$687,086
100$1,426,686$0$0$708,723