Can I retire at age 53 with 581,000?

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 $581,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.9%
1 years$47,978$47,551$47,134$46,727$46,330$44,847
2 years$23,752$23,309$22,881$22,465$22,062$20,581
3 years$15,677$15,233$14,805$14,394$13,997$12,565
4 years$11,641$11,198$10,774$10,370$9,983$8,611
5 years$9,219$8,779$8,361$7,965$7,589$6,281
6 years$7,606$7,169$6,757$6,370$6,005$4,762
7 years$6,454$6,020$5,615$5,237$4,883$3,705
8 years$5,590$5,161$4,762$4,393$4,051$2,937
9 years$4,919$4,493$4,102$3,742$3,412$2,360
10 years$4,382$3,961$3,576$3,226$2,907$1,916
11 years$3,943$3,526$3,148$2,807$2,500$1,568
12 years$3,577$3,165$2,794$2,462$2,167$1,292
13 years$3,268$2,860$2,496$2,174$1,889$1,070
14 years$3,004$2,600$2,243$1,930$1,656$889
15 years$2,774$2,375$2,025$1,721$1,458$742
16 years$2,574$2,179$1,836$1,541$1,289$620
17 years$2,397$2,007$1,671$1,384$1,143$520
18 years$2,241$1,854$1,525$1,248$1,016$437
19 years$2,101$1,718$1,396$1,127$906$368
20 years$1,975$1,597$1,281$1,021$809$310
21 years$1,861$1,487$1,179$927$724$261
22 years$1,758$1,388$1,086$843$649$220
23 years$1,663$1,299$1,003$767$582$186
24 years$1,577$1,217$928$700$524$157
25 years$1,498$1,142$859$639$471$133
26 years$1,425$1,073$797$584$424$113
27 years$1,357$1,010$740$535$383$95
28 years$1,295$952$688$490$345$81
29 years$1,237$898$640$449$312$68
30 years$1,183$848$596$412$282$58
31 years$1,132$801$556$379$255$49
32 years$1,085$758$519$348$230$42
33 years$1,040$718$484$320$208$35
34 years$999$681$452$295$189$30
35 years$960$646$423$271$171$25
36 years$923$613$396$250$155$21
37 years$888$582$370$230$140$18
38 years$855$553$347$212$127$15
39 years$824$526$325$196$115$13
40 years$794$500$305$180$105$11
41 years$766$476$286$166$95$9
42 years$740$454$268$154$86$8
43 years$714$432$251$142$78$7
44 years$690$412$236$131$71$6
45 years$667$393$222$121$64$5
46 years$645$375$208$112$59$4
47 years$625$358$195$103$53$3
48 years$605$341$184$95$48$3
49 years$586$326$173$88$44$3
50 years$567$311$162$81$40$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $581,000, adding $6,588 every year, while hoping to spend $39,377 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: 69/21/10 Blend
52$581,000$581,000$581,000$581,000
53$647,058$616,265$607,259$689,956
54$671,161$604,565$585,705$707,569
55$696,402$590,972$562,110$721,441
56$722,858$575,351$536,363$735,569
57$750,607$557,562$508,349$749,973
58$779,738$537,452$477,948$764,674
59$810,347$514,862$445,035$779,696
60$842,537$489,625$409,478$795,067
61$876,420$461,561$371,140$810,820
62$912,120$430,482$329,878$826,993
63$949,769$396,189$285,542$843,627
64$989,515$358,471$237,976$860,770
65$1,031,514$317,106$187,018$878,478
66$1,075,942$271,857$132,496$896,813
67$1,122,986$222,476$74,232$915,845
68$1,172,853$168,700$12,042$935,656
69$1,225,770$110,252$0$956,335
70$1,281,982$46,838$0$983,781
71$1,341,761$0$0$1,014,063
72$1,405,401$0$0$1,051,094
73$1,473,226$0$0$1,102,114
74$1,545,590$0$0$1,156,568
75$1,622,881$0$0$1,214,751
76$1,705,524$0$0$1,276,984
77$1,793,986$0$0$1,343,624
78$1,888,778$0$0$1,415,056
79$1,990,461$0$0$1,491,708
80$2,099,649$0$0$1,574,046
81$2,217,019$0$0$1,662,583
82$2,343,312$0$0$1,757,883
83$2,479,341$0$0$1,860,563
84$2,626,001$0$0$1,971,303
85$2,784,274$0$0$2,090,849
86$2,955,239$0$0$2,220,020
87$3,140,082$0$0$2,359,718
88$3,340,107$0$0$2,510,933
89$3,556,746$0$0$2,674,753
90$3,791,574$0$0$2,852,375
91$4,046,324$0$0$3,045,116
92$4,322,901$0$0$3,254,424
93$4,623,400$0$0$3,481,889
94$4,950,126$0$0$3,729,265
95$5,305,615$0$0$3,998,479
96$5,692,657$0$0$4,291,650
97$6,114,323$0$0$4,611,113
98$6,573,990$0$0$4,959,434
99$7,075,377$0$0$5,339,441
100$7,622,578$0$0$5,754,245