Can I retire at age 53 with 493,000?

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 $493,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.6%
1 years$40,711$40,349$39,995$39,650$39,313$37,948
2 years$20,154$19,779$19,415$19,062$18,720$17,360
3 years$13,303$12,926$12,563$12,213$11,877$10,563
4 years$9,878$9,502$9,143$8,799$8,471$7,213
5 years$7,823$7,449$7,095$6,759$6,439$5,242
6 years$6,454$6,083$5,734$5,405$5,095$3,959
7 years$5,476$5,109$4,765$4,444$4,144$3,068
8 years$4,743$4,379$4,041$3,728$3,438$2,422
9 years$4,174$3,813$3,480$3,175$2,895$1,938
10 years$3,718$3,361$3,034$2,737$2,467$1,566
11 years$3,346$2,992$2,671$2,382$2,121$1,276
12 years$3,035$2,685$2,371$2,089$1,838$1,046
13 years$2,773$2,427$2,118$1,845$1,603$862
14 years$2,549$2,206$1,903$1,637$1,405$713
15 years$2,354$2,015$1,718$1,460$1,237$592
16 years$2,184$1,849$1,558$1,308$1,094$493
17 years$2,034$1,703$1,418$1,175$970$411
18 years$1,901$1,573$1,294$1,059$862$343
19 years$1,782$1,458$1,185$957$768$287
20 years$1,676$1,355$1,087$866$686$241
21 years$1,579$1,262$1,000$786$614$202
22 years$1,491$1,178$922$715$551$169
23 years$1,411$1,102$851$651$494$142
24 years$1,338$1,032$787$594$444$120
25 years$1,271$969$729$542$400$101
26 years$1,209$911$676$496$360$85
27 years$1,152$857$628$454$325$71
28 years$1,099$808$584$416$293$60
29 years$1,049$762$543$381$264$51
30 years$1,004$719$506$350$239$43
31 years$961$680$472$321$216$36
32 years$921$644$440$295$195$30
33 years$883$609$411$272$177$25
34 years$848$578$384$250$160$21
35 years$814$548$359$230$145$18
36 years$783$520$336$212$131$15
37 years$753$494$314$195$119$13
38 years$726$469$294$180$108$11
39 years$699$446$276$166$98$9
40 years$674$425$258$153$89$8
41 years$650$404$242$141$81$6
42 years$628$385$227$130$73$5
43 years$606$367$213$120$66$5
44 years$586$350$200$111$60$4
45 years$566$333$188$103$55$3
46 years$548$318$177$95$50$3
47 years$530$303$166$88$45$2
48 years$513$290$156$81$41$2
49 years$497$277$147$75$37$2
50 years$481$264$138$69$34$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $493,000, adding $2,499 every year, while hoping to spend $33,707 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: 73/22/5 Blend
52$493,000$493,000$493,000$493,000
53$545,864$519,735$512,093$585,308
54$565,678$509,338$493,384$601,223
55$586,383$497,302$472,919$614,143
56$608,035$483,510$450,603$627,326
57$630,694$467,841$426,337$640,789
58$654,424$450,165$400,018$654,547
59$679,295$430,343$371,539$668,620
60$705,384$408,231$340,787$683,030
61$732,774$383,674$307,643$697,802
62$761,553$356,511$271,986$712,964
63$791,820$326,569$233,686$728,550
64$823,681$293,666$192,610$744,595
65$857,252$257,610$148,617$761,140
66$892,657$218,199$101,562$778,234
67$930,035$175,217$51,291$795,928
68$969,534$128,439$0$814,283
69$1,011,319$77,624$0$833,492
70$1,055,566$22,521$0$856,434
71$1,102,472$0$0$880,465
72$1,152,247$0$0$914,681
73$1,205,126$0$0$956,834
74$1,261,361$0$0$1,001,674
75$1,321,232$0$0$1,049,427
76$1,385,043$0$0$1,100,337
77$1,453,127$0$0$1,154,671
78$1,525,851$0$0$1,212,724
79$1,603,614$0$0$1,274,816
80$1,686,857$0$0$1,341,302
81$1,776,059$0$0$1,412,567
82$1,871,750$0$0$1,489,036
83$1,974,510$0$0$1,571,176
84$2,084,974$0$0$1,659,497
85$2,203,841$0$0$1,754,560
86$2,331,878$0$0$1,856,983
87$2,469,926$0$0$1,967,442
88$2,618,912$0$0$2,086,680
89$2,779,852$0$0$2,215,515
90$2,953,862$0$0$2,354,846
91$3,142,171$0$0$2,505,658
92$3,346,129$0$0$2,669,038
93$3,567,219$0$0$2,846,178
94$3,807,074$0$0$3,038,391
95$4,067,487$0$0$3,247,120
96$4,350,434$0$0$3,473,951
97$4,658,085$0$0$3,720,632
98$4,992,830$0$0$3,989,082
99$5,357,297$0$0$4,281,417
100$5,754,378$0$0$4,599,961