Can I retire at age 53 with 498,000?

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 $498,000?

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$41,124$40,758$40,401$40,052$39,711$38,579
2 years$20,359$19,979$19,612$19,256$18,910$17,778
3 years$13,438$13,057$12,690$12,337$11,997$10,901
4 years$9,978$9,598$9,235$8,888$8,557$7,505
5 years$7,902$7,525$7,167$6,827$6,505$5,500
6 years$6,519$6,145$5,792$5,460$5,147$4,190
7 years$5,532$5,160$4,813$4,489$4,186$3,277
8 years$4,791$4,423$4,082$3,765$3,473$2,611
9 years$4,216$3,851$3,516$3,207$2,924$2,110
10 years$3,756$3,395$3,065$2,765$2,492$1,723
11 years$3,380$3,022$2,698$2,406$2,143$1,418
12 years$3,066$2,713$2,395$2,111$1,857$1,175
13 years$2,801$2,451$2,140$1,863$1,619$979
14 years$2,574$2,228$1,922$1,654$1,420$819
15 years$2,378$2,036$1,736$1,475$1,250$688
16 years$2,206$1,868$1,574$1,321$1,105$579
17 years$2,055$1,720$1,432$1,187$979$488
18 years$1,921$1,589$1,307$1,069$871$413
19 years$1,800$1,473$1,197$966$776$350
20 years$1,693$1,369$1,098$875$693$297
21 years$1,595$1,275$1,010$794$620$252
22 years$1,506$1,190$931$722$556$214
23 years$1,426$1,113$860$658$499$182
24 years$1,352$1,043$795$600$449$155
25 years$1,284$979$736$548$404$132
26 years$1,221$920$683$501$364$113
27 years$1,164$866$634$459$328$96
28 years$1,110$816$590$420$296$82
29 years$1,060$770$549$385$267$70
30 years$1,014$727$511$354$241$60
31 years$970$687$476$325$218$51
32 years$930$650$445$298$197$43
33 years$892$616$415$274$179$37
34 years$856$583$388$252$162$32
35 years$823$553$363$232$147$27
36 years$791$525$339$214$133$23
37 years$761$499$317$197$120$20
38 years$733$474$297$182$109$17
39 years$706$451$279$168$99$14
40 years$681$429$261$155$90$12
41 years$657$408$245$143$81$11
42 years$634$389$230$132$74$9
43 years$612$370$215$122$67$8
44 years$592$353$202$112$61$7
45 years$572$337$190$104$55$6
46 years$553$321$178$96$50$5
47 years$535$307$168$88$46$4
48 years$518$293$157$82$41$4
49 years$502$279$148$76$38$3
50 years$486$267$139$70$34$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $498,000, adding $5,946 every year, while hoping to spend $36,806 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: 43/37/20 Blend
52$498,000$498,000$498,000$498,000
53$554,929$528,535$520,816$575,331
54$572,371$515,272$499,102$577,071
55$590,358$500,126$475,427$574,906
56$608,907$482,965$449,687$571,802
57$628,036$463,650$421,772$567,690
58$647,761$442,035$391,567$562,498
59$668,103$417,965$358,954$556,149
60$689,079$391,274$323,809$548,564
61$710,708$361,790$286,000$539,656
62$733,011$329,328$245,391$529,337
63$756,008$293,695$201,842$517,511
64$779,720$254,685$155,203$504,078
65$804,168$212,082$105,319$488,931
66$829,375$165,656$52,029$471,961
67$855,363$115,165$0$453,047
68$882,156$60,354$0$433,100
69$909,778$952$0$422,871
70$938,252$0$0$411,145
71$967,605$0$0$423,600
72$997,862$0$0$436,838
73$1,029,049$0$0$450,482
74$1,061,193$0$0$464,544
75$1,094,323$0$0$479,036
76$1,128,465$0$0$493,970
77$1,163,650$0$0$509,359
78$1,199,906$0$0$525,214
79$1,237,263$0$0$541,550
80$1,275,752$0$0$558,379
81$1,315,404$0$0$575,715
82$1,356,251$0$0$593,571
83$1,398,325$0$0$611,962
84$1,441,657$0$0$630,900
85$1,486,282$0$0$650,400
86$1,532,232$0$0$670,476
87$1,579,541$0$0$691,143
88$1,628,242$0$0$712,415
89$1,678,370$0$0$734,305
90$1,729,959$0$0$756,829
91$1,783,042$0$0$780,001
92$1,837,654$0$0$803,835
93$1,893,827$0$0$828,344
94$1,951,595$0$0$853,542
95$2,010,990$0$0$879,443
96$2,072,044$0$0$906,059
97$2,134,787$0$0$933,403
98$2,199,250$0$0$961,486
99$2,265,458$0$0$990,319
100$2,333,439$0$0$1,019,913