Can I retire at age 53 with 494,000?

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 $494,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17%
1 years$40,794$40,431$40,076$39,730$39,392$38,269
2 years$20,195$19,819$19,454$19,101$18,758$17,636
3 years$13,330$12,952$12,588$12,238$11,901$10,814
4 years$9,898$9,521$9,161$8,817$8,488$7,445
5 years$7,839$7,465$7,109$6,772$6,452$5,456
6 years$6,467$6,095$5,745$5,416$5,106$4,157
7 years$5,487$5,119$4,774$4,453$4,152$3,251
8 years$4,753$4,388$4,049$3,735$3,445$2,590
9 years$4,182$3,820$3,488$3,182$2,901$2,093
10 years$3,726$3,368$3,040$2,743$2,472$1,709
11 years$3,352$2,998$2,677$2,387$2,126$1,407
12 years$3,042$2,691$2,376$2,094$1,842$1,166
13 years$2,779$2,432$2,122$1,848$1,606$971
14 years$2,554$2,210$1,907$1,641$1,408$812
15 years$2,359$2,019$1,722$1,463$1,240$682
16 years$2,189$1,853$1,561$1,310$1,096$574
17 years$2,038$1,706$1,420$1,177$972$485
18 years$1,905$1,577$1,297$1,061$864$410
19 years$1,786$1,461$1,187$959$770$347
20 years$1,679$1,358$1,089$868$688$294
21 years$1,582$1,265$1,002$788$615$250
22 years$1,494$1,181$924$716$552$212
23 years$1,414$1,104$853$652$495$181
24 years$1,341$1,034$789$595$445$154
25 years$1,274$971$730$543$401$131
26 years$1,212$912$677$497$361$112
27 years$1,154$859$629$455$325$95
28 years$1,101$809$585$417$294$81
29 years$1,052$763$544$382$265$69
30 years$1,006$721$507$351$239$59
31 years$963$681$473$322$217$50
32 years$922$645$441$296$196$43
33 years$885$611$412$272$177$37
34 years$849$579$385$250$160$31
35 years$816$549$360$231$145$27
36 years$785$521$336$212$132$23
37 years$755$495$315$196$119$20
38 years$727$470$295$180$108$17
39 years$700$447$276$166$98$14
40 years$675$425$259$153$89$12
41 years$652$405$243$141$81$10
42 years$629$386$228$131$73$9
43 years$607$368$214$121$66$8
44 years$587$350$201$111$60$7
45 years$567$334$188$103$55$6
46 years$549$319$177$95$50$5
47 years$531$304$166$88$45$4
48 years$514$290$156$81$41$3
49 years$498$277$147$75$37$3
50 years$482$265$138$69$34$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $494,000, adding $3,831 every year, while hoping to spend $36,624 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: 64/15/21 Blend
52$494,000$494,000$494,000$494,000
53$548,340$522,158$514,501$580,244
54$565,303$508,776$492,769$588,805
55$582,768$493,511$469,081$593,678
56$600,750$476,231$443,334$598,154
57$619,259$456,799$415,419$602,196
58$638,309$435,068$385,221$605,765
59$657,912$410,882$352,622$608,821
60$678,081$384,078$317,497$611,319
61$698,830$354,482$279,717$613,214
62$720,169$321,910$239,147$614,455
63$742,112$286,170$195,644$614,991
64$764,671$247,055$149,061$614,766
65$787,857$204,350$99,244$613,720
66$811,681$157,826$46,031$611,790
67$836,154$107,241$0$608,911
68$861,286$52,341$0$607,420
69$887,087$0$0$615,997
70$913,566$0$0$625,456
71$940,728$0$0$644,019
72$968,582$0$0$663,051
73$997,132$0$0$682,554
74$1,026,381$0$0$702,531
75$1,056,331$0$0$722,981
76$1,086,981$0$0$743,905
77$1,118,330$0$0$765,298
78$1,150,371$0$0$787,158
79$1,183,096$0$0$809,477
80$1,216,494$0$0$832,246
81$1,250,549$0$0$855,454
82$1,285,242$0$0$879,087
83$1,320,549$0$0$903,126
84$1,356,439$0$0$927,549
85$1,392,878$0$0$952,332
86$1,429,823$0$0$977,442
87$1,467,225$0$0$1,002,845
88$1,505,027$0$0$1,028,499
89$1,543,160$0$0$1,054,355
90$1,581,549$0$0$1,080,359
91$1,620,104$0$0$1,106,447
92$1,658,725$0$0$1,132,546
93$1,697,297$0$0$1,158,574
94$1,735,688$0$0$1,184,438
95$1,773,752$0$0$1,210,032
96$1,811,320$0$0$1,235,238
97$1,848,204$0$0$1,259,921
98$1,884,192$0$0$1,283,930
99$1,919,047$0$0$1,307,096
100$1,952,501$0$0$1,329,230