Can I retire at age 53 with 488,000?

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 $488,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$40,299$39,940$39,589$39,248$38,914$38,004
2 years$19,950$19,578$19,218$18,869$18,530$17,619
3 years$13,168$12,795$12,435$12,090$11,756$10,872
4 years$9,777$9,405$9,050$8,710$8,385$7,534
5 years$7,744$7,374$7,023$6,690$6,374$5,559
6 years$6,388$6,021$5,676$5,350$5,044$4,265
7 years$5,421$5,057$4,716$4,399$4,102$3,361
8 years$4,695$4,335$4,000$3,690$3,403$2,698
9 years$4,131$3,774$3,445$3,143$2,866$2,197
10 years$3,680$3,327$3,004$2,709$2,442$1,809
11 years$3,312$2,961$2,644$2,358$2,100$1,502
12 years$3,005$2,658$2,347$2,068$1,820$1,255
13 years$2,745$2,402$2,097$1,826$1,587$1,055
14 years$2,523$2,183$1,884$1,621$1,391$890
15 years$2,330$1,995$1,701$1,445$1,225$754
16 years$2,162$1,830$1,542$1,294$1,082$641
17 years$2,014$1,685$1,403$1,163$960$546
18 years$1,882$1,557$1,281$1,048$853$466
19 years$1,764$1,443$1,173$947$761$399
20 years$1,659$1,341$1,076$858$679$341
21 years$1,563$1,249$990$778$608$293
22 years$1,476$1,166$912$708$545$251
23 years$1,397$1,091$842$645$489$216
24 years$1,325$1,022$779$588$440$186
25 years$1,258$959$722$537$396$160
26 years$1,197$901$669$491$356$138
27 years$1,140$848$621$449$321$119
28 years$1,088$799$578$412$290$102
29 years$1,039$754$538$378$262$88
30 years$993$712$501$346$237$76
31 years$951$673$467$318$214$66
32 years$911$637$436$292$193$57
33 years$874$603$407$269$175$49
34 years$839$572$380$247$159$42
35 years$806$542$355$228$144$36
36 years$775$515$332$210$130$31
37 years$746$489$311$193$118$27
38 years$718$465$291$178$107$23
39 years$692$442$273$164$97$20
40 years$667$420$256$152$88$18
41 years$644$400$240$140$80$15
42 years$621$381$225$129$72$13
43 years$600$363$211$119$66$11
44 years$580$346$198$110$60$10
45 years$561$330$186$102$54$8
46 years$542$315$175$94$49$7
47 years$525$300$164$87$45$6
48 years$508$287$154$80$41$5
49 years$492$274$145$74$37$5
50 years$476$262$136$68$33$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $488,000, adding $6,721 every year, while hoping to spend $30,665 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: 48/37/15 Blend
52$488,000$488,000$488,000$488,000
53$544,709$518,845$511,281$568,270
54$567,642$511,641$495,781$578,054
55$591,886$503,056$478,735$584,978
56$617,543$492,991$460,057$591,824
57$644,724$481,338$439,660$598,596
58$673,549$467,987$417,452$605,300
59$704,151$452,818$393,337$611,945
60$736,674$435,706$367,213$618,543
61$771,276$416,517$338,976$625,110
62$808,131$395,111$308,517$631,667
63$847,428$371,339$275,720$638,237
64$889,374$345,044$240,465$644,852
65$934,198$316,058$202,628$651,547
66$982,148$284,207$162,078$658,366
67$1,033,497$249,304$118,678$665,360
68$1,088,547$211,152$72,286$672,591
69$1,147,624$169,544$22,754$680,127
70$1,211,091$124,261$0$688,051
71$1,279,344$75,071$0$701,276
72$1,352,817$21,730$0$719,293
73$1,431,988$0$0$738,607
74$1,517,382$0$0$774,057
75$1,609,575$0$0$821,923
76$1,709,200$0$0$873,692
77$1,816,954$0$0$929,732
78$1,933,601$0$0$990,446
79$2,059,983$0$0$1,056,278
80$2,197,024$0$0$1,127,716
81$2,345,742$0$0$1,205,297
82$2,507,254$0$0$1,289,612
83$2,682,791$0$0$1,381,311
84$2,873,707$0$0$1,481,107
85$3,081,490$0$0$1,589,789
86$3,307,779$0$0$1,708,220
87$3,554,376$0$0$1,837,354
88$3,823,267$0$0$1,978,239
89$4,116,634$0$0$2,132,029
90$4,436,881$0$0$2,299,994
91$4,786,655$0$0$2,483,532
92$5,168,868$0$0$2,684,182
93$5,586,726$0$0$2,903,639
94$6,043,762$0$0$3,143,770
95$6,543,861$0$0$3,406,628
96$7,091,305$0$0$3,694,478
97$7,690,807$0$0$4,009,810
98$8,347,559$0$0$4,355,368
99$9,067,276$0$0$4,734,174
100$9,856,255$0$0$5,149,558