Can I retire at age 53 with 497,000?

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 $497,000?

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 years$41,042$40,676$40,320$39,971$39,631$39,464
2 years$20,318$19,939$19,573$19,217$18,872$18,704
3 years$13,411$13,031$12,665$12,313$11,973$11,808
4 years$9,958$9,579$9,217$8,870$8,539$8,379
5 years$7,887$7,510$7,153$6,813$6,492$6,337
6 years$6,506$6,132$5,780$5,449$5,137$4,987
7 years$5,521$5,150$4,803$4,480$4,177$4,034
8 years$4,782$4,415$4,074$3,758$3,466$3,328
9 years$4,207$3,844$3,509$3,201$2,918$2,786
10 years$3,748$3,388$3,059$2,759$2,487$2,360
11 years$3,373$3,016$2,693$2,401$2,139$2,017
12 years$3,060$2,707$2,390$2,106$1,853$1,738
13 years$2,796$2,446$2,135$1,860$1,616$1,506
14 years$2,569$2,224$1,919$1,651$1,417$1,311
15 years$2,373$2,031$1,732$1,472$1,247$1,147
16 years$2,202$1,864$1,571$1,318$1,102$1,007
17 years$2,051$1,716$1,429$1,184$977$887
18 years$1,917$1,586$1,305$1,067$869$783
19 years$1,797$1,470$1,194$964$775$693
20 years$1,689$1,366$1,096$873$692$615
21 years$1,592$1,272$1,008$793$619$546
22 years$1,503$1,188$929$721$555$486
23 years$1,423$1,111$858$656$498$433
24 years$1,349$1,041$793$599$448$386
25 years$1,281$977$735$547$403$345
26 years$1,219$918$682$500$363$308
27 years$1,161$864$633$458$327$276
28 years$1,108$814$588$419$295$247
29 years$1,058$768$548$384$267$221
30 years$1,012$725$510$353$241$198
31 years$968$686$475$324$218$178
32 years$928$649$444$298$197$160
33 years$890$614$414$274$178$143
34 years$854$582$387$252$161$129
35 years$821$552$362$232$146$116
36 years$789$524$338$214$132$104
37 years$760$498$317$197$120$93
38 years$731$473$297$181$109$84
39 years$705$450$278$167$99$75
40 years$679$428$261$154$90$68
41 years$656$407$244$142$81$61
42 years$633$388$229$131$74$55
43 years$611$370$215$121$67$49
44 years$591$352$202$112$61$44
45 years$571$336$190$103$55$40
46 years$552$321$178$96$50$36
47 years$534$306$167$88$45$32
48 years$517$292$157$82$41$29
49 years$501$279$148$75$37$26
50 years$485$266$139$70$34$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $497,000, adding $2,588 every year, while hoping to spend $33,337 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: 47/35/18 Blend
52$497,000$497,000$497,000$497,000
53$550,364$524,023$516,319$573,311
54$571,030$514,229$498,145$579,751
55$592,688$502,839$478,246$583,164
56$615,402$489,738$456,527$586,160
57$639,244$474,806$432,891$588,714
58$664,291$457,916$407,238$590,801
59$690,629$438,934$379,460$592,396
60$718,348$417,717$349,448$593,473
61$747,549$394,115$317,083$594,006
62$778,340$367,967$282,247$593,972
63$810,840$339,107$244,811$593,347
64$845,178$307,355$204,644$592,107
65$881,495$272,524$161,609$590,231
66$919,944$234,415$115,559$587,699
67$960,694$192,817$66,346$584,493
68$1,003,929$147,509$13,813$580,597
69$1,049,848$98,255$0$575,998
70$1,098,673$44,810$0$578,804
71$1,150,642$0$0$584,252
72$1,206,019$0$0$594,763
73$1,265,092$0$0$624,418
74$1,328,176$0$0$656,121
75$1,395,617$0$0$690,050
76$1,467,794$0$0$726,400
77$1,545,122$0$0$765,386
78$1,628,058$0$0$807,242
79$1,717,101$0$0$852,228
80$1,812,801$0$0$900,625
81$1,915,759$0$0$952,745
82$2,026,638$0$0$1,008,929
83$2,146,164$0$0$1,069,553
84$2,275,135$0$0$1,135,028
85$2,414,428$0$0$1,205,808
86$2,565,006$0$0$1,282,390
87$2,727,930$0$0$1,365,321
88$2,904,362$0$0$1,455,203
89$3,095,583$0$0$1,552,698
90$3,303,000$0$0$1,658,533
91$3,528,162$0$0$1,773,508
92$3,772,770$0$0$1,898,504
93$4,038,697$0$0$2,034,488
94$4,328,003$0$0$2,182,526
95$4,642,956$0$0$2,343,790
96$4,986,049$0$0$2,519,571
97$5,360,026$0$0$2,711,287
98$5,767,910$0$0$2,920,503
99$6,213,025$0$0$3,148,937
100$6,699,030$0$0$3,398,484