Can I retire at age 53 with 583,000?

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 $583,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.9%
1 years$48,144$47,715$47,296$46,888$46,489$45,365
2 years$23,833$23,390$22,959$22,542$22,138$21,012
3 years$15,731$15,285$14,856$14,443$14,045$12,953
4 years$11,681$11,236$10,812$10,405$10,017$8,967
5 years$9,251$8,809$8,390$7,992$7,615$6,610
6 years$7,632$7,194$6,781$6,392$6,025$5,066
7 years$6,476$6,041$5,635$5,255$4,900$3,987
8 years$5,609$5,178$4,779$4,408$4,065$3,197
9 years$4,935$4,509$4,116$3,755$3,423$2,601
10 years$4,397$3,974$3,588$3,237$2,917$2,138
11 years$3,956$3,538$3,159$2,817$2,509$1,773
12 years$3,590$3,176$2,804$2,471$2,174$1,480
13 years$3,279$2,870$2,505$2,181$1,896$1,242
14 years$3,014$2,609$2,251$1,936$1,662$1,047
15 years$2,784$2,383$2,032$1,727$1,463$885
16 years$2,583$2,186$1,842$1,546$1,293$751
17 years$2,406$2,013$1,676$1,389$1,147$639
18 years$2,248$1,861$1,530$1,252$1,020$545
19 years$2,108$1,724$1,401$1,131$909$465
20 years$1,981$1,602$1,286$1,025$812$398
21 years$1,867$1,493$1,183$930$726$341
22 years$1,764$1,393$1,090$845$651$292
23 years$1,669$1,303$1,006$770$584$251
24 years$1,583$1,221$931$702$525$215
25 years$1,503$1,146$862$641$473$185
26 years$1,430$1,077$800$586$426$159
27 years$1,362$1,013$742$537$384$137
28 years$1,299$955$690$492$346$118
29 years$1,241$901$642$451$313$101
30 years$1,187$851$598$414$283$87
31 years$1,136$804$558$380$256$75
32 years$1,089$761$520$349$231$65
33 years$1,044$721$486$321$209$56
34 years$1,002$683$454$296$189$48
35 years$963$648$424$272$172$41
36 years$926$615$397$251$155$36
37 years$891$584$372$231$141$31
38 years$858$555$348$213$128$27
39 years$827$528$326$196$116$23
40 years$797$502$306$181$105$20
41 years$769$478$287$167$95$17
42 years$742$455$269$154$86$15
43 years$717$434$252$142$78$13
44 years$693$413$237$131$71$11
45 years$670$394$222$121$65$9
46 years$648$376$209$112$59$8
47 years$627$359$196$104$53$7
48 years$607$343$184$96$48$6
49 years$588$327$173$88$44$5
50 years$569$313$163$82$40$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $583,000, adding $3,944 every year, while hoping to spend $22,626 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: 43/48/9 Blend
52$583,000$583,000$583,000$583,000
53$646,534$615,635$606,599$672,488
54$688,407$621,727$602,846$697,029
55$733,792$627,360$598,209$720,993
56$783,024$632,486$592,635$746,440
57$836,472$637,057$586,067$773,514
58$894,538$641,019$578,446$802,374
59$957,669$644,317$569,712$833,198
60$1,026,354$646,891$559,800$866,181
61$1,101,131$648,677$548,642$901,541
62$1,182,593$649,609$536,169$939,518
63$1,271,392$649,615$522,305$980,379
64$1,368,247$648,619$506,975$1,024,417
65$1,473,946$646,539$490,097$1,071,960
66$1,589,361$643,292$471,587$1,123,368
67$1,715,447$638,784$451,356$1,179,042
68$1,853,259$632,921$429,314$1,239,423
69$2,003,958$625,600$405,361$1,305,001
70$2,168,820$616,713$379,399$1,376,318
71$2,349,252$606,145$351,322$1,453,972
72$2,546,804$593,774$321,020$1,538,627
73$2,763,181$579,472$288,377$1,631,015
74$3,000,261$563,102$253,273$1,731,946
75$3,260,113$544,520$215,583$1,842,317
76$3,545,016$523,572$175,177$1,963,117
77$3,857,479$500,098$131,916$2,095,443
78$4,200,265$473,927$85,658$2,240,504
79$4,576,419$444,876$36,255$2,399,638
80$4,989,294$412,755$0$2,574,323
81$5,442,584$377,362$0$2,767,774
82$5,940,358$338,483$0$2,984,033
83$6,487,097$295,892$0$3,221,625
84$7,087,740$249,349$0$3,482,768
85$7,747,725$198,603$0$3,769,914
86$8,473,046$143,387$0$4,085,767
87$9,270,304$83,420$0$4,433,314
88$10,146,771$18,404$0$4,815,853
89$11,110,461$0$0$5,237,021
90$12,170,203$0$0$5,728,288
91$13,335,722$0$0$6,279,362
92$14,617,735$0$0$6,885,600
93$16,028,049$0$0$7,552,594
94$17,579,673$0$0$8,286,510
95$19,286,941$0$0$9,094,136
96$21,165,645$0$0$9,982,956
97$23,233,188$0$0$10,961,214
98$25,508,743$0$0$12,037,994
99$28,013,435$0$0$13,223,306
100$30,770,545$0$0$14,528,179