Can I retire at age 53 with 580,000?

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 $580,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.1%
1 years$47,896$47,469$47,053$46,647$46,250$44,556
2 years$23,711$23,269$22,841$22,426$22,024$20,336
3 years$15,650$15,207$14,780$14,369$13,973$12,344
4 years$11,621$11,179$10,756$10,352$9,966$8,409
5 years$9,204$8,764$8,347$7,951$7,576$6,094
6 years$7,593$7,157$6,746$6,359$5,994$4,590
7 years$6,443$6,010$5,606$5,228$4,875$3,547
8 years$5,580$5,152$4,754$4,385$4,044$2,792
9 years$4,910$4,486$4,095$3,735$3,406$2,227
10 years$4,374$3,954$3,570$3,220$2,902$1,794
11 years$3,936$3,520$3,143$2,802$2,496$1,457
12 years$3,571$3,159$2,789$2,458$2,163$1,191
13 years$3,263$2,855$2,492$2,170$1,886$978
14 years$2,998$2,595$2,239$1,926$1,653$806
15 years$2,770$2,371$2,022$1,718$1,456$667
16 years$2,570$2,175$1,833$1,538$1,287$553
17 years$2,393$2,003$1,668$1,382$1,141$459
18 years$2,237$1,851$1,522$1,246$1,014$382
19 years$2,097$1,715$1,394$1,125$904$319
20 years$1,971$1,594$1,279$1,019$808$266
21 years$1,858$1,485$1,177$925$723$222
22 years$1,754$1,386$1,084$841$648$186
23 years$1,660$1,296$1,001$766$581$156
24 years$1,574$1,215$926$699$523$130
25 years$1,495$1,140$858$638$470$109
26 years$1,422$1,071$795$583$424$91
27 years$1,355$1,008$739$534$382$77
28 years$1,293$950$687$489$345$64
29 years$1,235$896$639$449$311$54
30 years$1,181$846$595$412$281$45
31 years$1,130$800$555$378$254$38
32 years$1,083$757$518$348$230$32
33 years$1,039$717$483$320$208$27
34 years$997$680$452$294$188$22
35 years$958$645$422$271$171$19
36 years$921$612$395$249$155$16
37 years$886$581$370$230$140$13
38 years$854$552$346$212$127$11
39 years$822$525$324$195$115$9
40 years$793$500$304$180$104$8
41 years$765$476$285$166$95$7
42 years$738$453$267$153$86$6
43 years$713$431$251$142$78$5
44 years$689$411$236$131$71$4
45 years$666$392$221$121$64$3
46 years$644$374$208$111$58$3
47 years$624$357$195$103$53$2
48 years$604$341$183$95$48$2
49 years$585$326$172$88$44$2
50 years$566$311$162$81$40$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $580,000, adding $2,997 every year, while hoping to spend $31,823 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: 38/39/23 Blend
52$580,000$580,000$580,000$580,000
53$642,251$611,511$602,521$662,144
54$673,902$607,616$588,846$672,977
55$707,714$602,463$573,647$681,485
56$743,874$595,958$556,838$690,043
57$782,588$587,999$538,331$698,674
58$824,081$578,479$518,033$707,406
59$868,598$567,286$495,849$716,275
60$916,411$554,298$471,675$725,319
61$967,815$539,389$445,407$734,586
62$1,023,138$522,425$416,934$744,131
63$1,082,737$503,263$386,140$754,019
64$1,147,005$481,751$352,904$764,324
65$1,216,374$457,731$317,101$775,131
66$1,291,318$431,034$278,598$786,538
67$1,372,359$401,482$237,257$798,659
68$1,460,070$368,885$192,936$811,623
69$1,555,081$333,044$145,483$825,575
70$1,658,085$293,749$94,742$840,683
71$1,769,843$250,776$40,550$857,135
72$1,891,194$203,891$0$875,147
73$2,023,058$152,844$0$899,200
74$2,166,450$97,374$0$936,222
75$2,322,485$37,202$0$976,605
76$2,492,390$0$0$1,020,742
77$2,677,515$0$0$1,081,073
78$2,879,345$0$0$1,164,326
79$3,099,518$0$0$1,255,221
80$3,339,832$0$0$1,354,509
81$3,602,269$0$0$1,463,018
82$3,889,011$0$0$1,581,662
83$4,202,459$0$0$1,711,444
84$4,545,256$0$0$1,853,470
85$4,920,315$0$0$2,008,958
86$5,330,840$0$0$2,179,248
87$5,780,361$0$0$2,365,817
88$6,272,765$0$0$2,570,291
89$6,812,333$0$0$2,794,461
90$7,403,778$0$0$3,040,299
91$8,052,294$0$0$3,309,978
92$8,763,598$0$0$3,605,891
93$9,543,990$0$0$3,930,673
94$10,400,406$0$0$4,287,228
95$11,340,488$0$0$4,678,753
96$12,372,656$0$0$5,108,773
97$13,506,180$0$0$5,581,167
98$14,751,277$0$0$6,100,211
99$16,119,199$0$0$6,670,615
100$17,622,343$0$0$7,297,569