Can I retire at age 53 with 388,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $388,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$32,041$31,755$31,477$31,205$30,940$30,365
2 years$15,862$15,566$15,280$15,002$14,733$14,156
3 years$10,469$10,173$9,887$9,612$9,347$8,786
4 years$7,774$7,478$7,195$6,925$6,667$6,125
5 years$6,157$5,863$5,584$5,319$5,068$4,548
6 years$5,079$4,787$4,513$4,254$4,010$3,513
7 years$4,310$4,021$3,750$3,497$3,261$2,786
8 years$3,733$3,446$3,180$2,934$2,705$2,253
9 years$3,285$3,001$2,739$2,499$2,278$1,848
10 years$2,926$2,645$2,388$2,154$1,941$1,532
11 years$2,633$2,355$2,102$1,875$1,670$1,282
12 years$2,389$2,113$1,866$1,644$1,447$1,080
13 years$2,183$1,910$1,667$1,452$1,262$915
14 years$2,006$1,736$1,498$1,289$1,106$778
15 years$1,853$1,586$1,352$1,149$974$665
16 years$1,719$1,455$1,226$1,029$861$570
17 years$1,601$1,340$1,116$925$763$490
18 years$1,496$1,238$1,018$833$679$422
19 years$1,403$1,148$932$753$605$364
20 years$1,319$1,066$856$682$540$314
21 years$1,243$993$787$619$483$272
22 years$1,174$927$725$563$433$236
23 years$1,111$867$670$512$389$205
24 years$1,053$813$619$467$350$178
25 years$1,000$763$574$427$315$154
26 years$952$717$532$390$283$134
27 years$907$674$494$357$255$117
28 years$865$636$459$327$231$102
29 years$826$600$427$300$208$89
30 years$790$566$398$275$188$77
31 years$756$535$371$253$170$67
32 years$724$506$346$233$154$59
33 years$695$480$323$214$139$51
34 years$667$455$302$197$126$45
35 years$641$431$282$181$114$39
36 years$616$409$264$167$103$34
37 years$593$389$247$154$94$30
38 years$571$369$232$142$85$26
39 years$550$351$217$131$77$23
40 years$530$334$203$120$70$20
41 years$512$318$191$111$63$17
42 years$494$303$179$103$58$15
43 years$477$289$168$95$52$13
44 years$461$275$158$87$47$11
45 years$446$262$148$81$43$10
46 years$431$250$139$75$39$9
47 years$417$239$131$69$35$8
48 years$404$228$123$64$32$7
49 years$391$218$115$59$29$6
50 years$379$208$108$54$27$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $388,000, adding $6,521 every year, while hoping to spend $33,248 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: 59/12/29 Blend
52$388,000$388,000$388,000$388,000
53$434,302$413,738$407,724$456,148
54$443,226$398,636$386,008$456,730
55$451,945$381,679$362,449$453,288
56$460,404$362,742$336,952$448,849
57$468,540$341,691$309,414$443,325
58$476,283$318,386$279,732$436,623
59$483,554$292,678$247,793$428,637
60$490,266$264,408$213,484$419,258
61$496,320$233,411$176,682$408,364
62$501,607$199,511$137,264$395,825
63$506,006$162,521$95,096$381,498
64$509,379$122,246$50,043$365,231
65$511,578$78,478$1,961$346,855
66$512,433$30,997$0$326,189
67$511,759$0$0$318,308
68$509,348$0$0$312,064
69$504,971$0$0$308,617
70$498,373$0$0$303,706
71$489,272$0$0$297,149
72$477,355$0$0$288,740
73$462,275$0$0$278,254
74$443,648$0$0$265,440
75$421,049$0$0$250,022
76$394,007$0$0$231,692
77$362,002$0$0$210,112
78$324,459$0$0$184,907
79$280,741$0$0$155,662
80$230,144$0$0$121,918
81$171,890$0$0$83,169
82$105,120$0$0$38,856
83$28,884$0$0$0
84$0$0$0$0
85$0$0$0$0
86$0$0$0$0
87$0$0$0$0
88$0$0$0$0
89$0$0$0$0
90$0$0$0$0
91$0$0$0$0
92$0$0$0$0
93$0$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0