Can I retire at age 53 with 566,000?

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 $566,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.3%
1 years$46,740$46,323$45,917$45,521$45,134$44,150
2 years$23,138$22,708$22,290$21,885$21,492$20,506
3 years$15,272$14,840$14,423$14,022$13,636$12,678
4 years$11,340$10,909$10,496$10,102$9,725$8,803
5 years$8,981$8,553$8,146$7,759$7,393$6,509
6 years$7,409$6,984$6,583$6,205$5,850$5,006
7 years$6,287$5,865$5,470$5,102$4,757$3,953
8 years$5,446$5,027$4,639$4,280$3,947$3,181
9 years$4,792$4,377$3,996$3,645$3,324$2,597
10 years$4,269$3,858$3,484$3,142$2,832$2,143
11 years$3,841$3,435$3,067$2,735$2,436$1,783
12 years$3,485$3,083$2,722$2,399$2,111$1,494
13 years$3,184$2,786$2,432$2,118$1,840$1,259
14 years$2,926$2,532$2,185$1,880$1,613$1,066
15 years$2,703$2,313$1,973$1,677$1,421$905
16 years$2,508$2,123$1,789$1,501$1,255$771
17 years$2,336$1,955$1,628$1,349$1,113$659
18 years$2,183$1,806$1,486$1,215$990$564
19 years$2,046$1,674$1,360$1,098$882$484
20 years$1,924$1,556$1,248$995$788$416
21 years$1,813$1,449$1,148$903$705$358
22 years$1,712$1,353$1,058$821$632$308
23 years$1,620$1,265$977$748$567$266
24 years$1,536$1,185$904$682$510$229
25 years$1,459$1,112$837$623$459$198
26 years$1,388$1,045$776$569$413$171
27 years$1,322$984$721$521$373$148
28 years$1,261$927$670$477$336$128
29 years$1,205$875$624$438$304$111
30 years$1,152$826$581$402$274$96
31 years$1,103$781$541$369$248$83
32 years$1,057$739$505$339$224$72
33 years$1,014$700$472$312$203$62
34 years$973$663$441$287$184$54
35 years$935$629$412$264$167$47
36 years$899$597$385$243$151$40
37 years$865$567$361$224$137$35
38 years$833$539$338$207$124$30
39 years$803$512$317$191$112$26
40 years$774$487$297$176$102$23
41 years$747$464$278$162$93$20
42 years$721$442$261$150$84$17
43 years$696$421$245$138$76$15
44 years$672$401$230$128$69$13
45 years$650$383$216$118$63$11
46 years$629$365$203$109$57$10
47 years$608$348$190$101$52$8
48 years$589$333$179$93$47$7
49 years$570$318$168$86$43$6
50 years$553$303$158$79$39$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $566,000, adding $6,715 every year, while hoping to spend $32,350 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: 44/48/8 Blend
52$566,000$566,000$566,000$566,000
53$630,659$600,661$591,888$656,683
54$660,566$595,673$577,296$670,406
55$692,439$589,356$561,131$681,420
56$726,445$581,612$543,306$692,616
57$762,766$572,335$523,730$704,019
58$801,602$561,413$502,309$715,664
59$843,171$548,728$478,942$727,588
60$887,715$534,156$453,527$739,838
61$935,496$517,564$425,954$752,465
62$986,803$498,811$396,111$765,529
63$1,041,955$477,750$363,878$779,100
64$1,101,298$454,224$329,132$793,257
65$1,165,216$428,067$291,743$808,093
66$1,234,129$399,103$251,577$823,711
67$1,308,497$367,146$208,493$840,229
68$1,388,829$332,001$162,342$857,784
69$1,475,681$293,460$112,972$876,528
70$1,569,665$251,305$60,221$896,634
71$1,671,454$205,302$3,922$918,298
72$1,781,789$155,209$0$941,742
73$1,901,484$100,766$0$972,009
74$2,031,433$41,701$0$1,005,256
75$2,172,620$0$0$1,041,479
76$2,326,129$0$0$1,092,815
77$2,493,151$0$0$1,172,695
78$2,674,996$0$0$1,259,729
79$2,873,108$0$0$1,354,613
80$3,089,072$0$0$1,458,117
81$3,324,636$0$0$1,571,087
82$3,581,723$0$0$1,694,453
83$3,862,449$0$0$1,829,240
84$4,169,144$0$0$1,976,578
85$4,504,373$0$0$2,137,707
86$4,870,959$0$0$2,313,997
87$5,272,012$0$0$2,506,952
88$5,710,955$0$0$2,718,233
89$6,191,558$0$0$2,949,664
90$6,717,972$0$0$3,203,258
91$7,294,769$0$0$3,481,230
92$7,926,983$0$0$3,786,018
93$8,620,160$0$0$4,120,311
94$9,380,407$0$0$4,487,067
95$10,214,450$0$0$4,889,547
96$11,129,698$0$0$5,331,341
97$12,134,314$0$0$5,816,404
98$13,237,285$0$0$6,349,094
99$14,448,516$0$0$6,934,209
100$15,778,915$0$0$7,577,038