Can I retire at age 53 with 584,000?

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 $584,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$48,226$47,797$47,377$46,968$46,569$46,217
2 years$23,874$23,430$22,999$22,581$22,176$21,821
3 years$15,758$15,312$14,882$14,468$14,069$13,723
4 years$11,701$11,256$10,830$10,423$10,034$9,699
5 years$9,267$8,825$8,405$8,006$7,628$7,304
6 years$7,645$7,206$6,792$6,403$6,036$5,724
7 years$6,487$6,052$5,644$5,264$4,909$4,609
8 years$5,619$5,187$4,787$4,416$4,072$3,785
9 years$4,944$4,516$4,123$3,761$3,429$3,155
10 years$4,404$3,981$3,594$3,242$2,922$2,659
11 years$3,963$3,544$3,164$2,822$2,513$2,262
12 years$3,596$3,181$2,808$2,475$2,178$1,939
13 years$3,285$2,875$2,509$2,185$1,899$1,671
14 years$3,019$2,613$2,254$1,940$1,665$1,448
15 years$2,789$2,387$2,035$1,730$1,466$1,260
16 years$2,587$2,190$1,845$1,549$1,295$1,100
17 years$2,410$2,017$1,679$1,392$1,149$963
18 years$2,252$1,864$1,533$1,254$1,021$846
19 years$2,111$1,727$1,403$1,133$910$745
20 years$1,985$1,605$1,288$1,026$813$656
21 years$1,870$1,495$1,185$931$728$580
22 years$1,767$1,396$1,092$847$652$513
23 years$1,672$1,305$1,008$771$585$454
24 years$1,585$1,223$932$703$526$403
25 years$1,506$1,148$864$642$474$357
26 years$1,432$1,079$801$587$427$318
27 years$1,364$1,015$744$538$385$282
28 years$1,302$957$691$493$347$251
29 years$1,243$902$643$452$313$224
30 years$1,189$852$599$415$283$199
31 years$1,138$806$559$381$256$177
32 years$1,090$762$521$350$232$158
33 years$1,046$722$487$322$210$141
34 years$1,004$684$455$296$190$126
35 years$965$649$425$273$172$112
36 years$928$616$398$251$156$100
37 years$893$585$372$231$141$89
38 years$859$556$349$213$128$80
39 years$828$529$327$197$116$71
40 years$798$503$306$181$105$64
41 years$770$479$287$167$95$57
42 years$744$456$269$154$87$51
43 years$718$434$253$143$79$45
44 years$694$414$237$132$71$41
45 years$671$395$223$122$65$36
46 years$649$377$209$112$59$32
47 years$628$360$197$104$53$29
48 years$608$343$185$96$49$26
49 years$589$328$174$89$44$23
50 years$570$313$163$82$40$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $584,000, adding $5,419 every year, while hoping to spend $36,891 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: 75/7/18 Blend
52$584,000$584,000$584,000$584,000
53$649,158$618,206$609,154$694,764
54$676,120$609,246$590,309$716,739
55$704,596$598,611$569,596$735,747
56$734,701$586,179$546,914$755,606
57$766,562$571,823$522,156$776,392
58$800,315$555,406$495,212$798,188
59$836,111$536,785$465,966$821,086
60$874,115$515,808$434,296$845,188
61$914,506$492,314$400,076$870,608
62$957,480$466,132$363,174$897,471
63$1,003,253$437,083$323,450$925,916
64$1,052,061$404,975$280,761$956,097
65$1,104,161$369,609$234,957$988,184
66$1,159,836$330,770$185,878$1,022,367
67$1,219,396$288,235$133,362$1,058,854
68$1,283,180$241,764$77,236$1,097,878
69$1,351,562$191,108$17,320$1,139,694
70$1,424,950$136,001$0$1,184,586
71$1,503,793$76,163$0$1,241,823
72$1,588,583$11,298$0$1,306,929
73$1,679,860$0$0$1,376,998
74$1,778,219$0$0$1,457,035
75$1,884,312$0$0$1,544,322
76$1,998,855$0$0$1,638,580
77$2,122,634$0$0$1,740,459
78$2,256,516$0$0$1,850,675
79$2,401,452$0$0$1,970,012
80$2,558,485$0$0$2,099,335
81$2,728,767$0$0$2,239,593
82$2,913,562$0$0$2,391,830
83$3,114,258$0$0$2,557,194
84$3,332,387$0$0$2,736,950
85$3,569,630$0$0$2,932,487
86$3,827,837$0$0$3,145,335
87$4,109,046$0$0$3,377,175
88$4,415,498$0$0$3,629,860
89$4,749,658$0$0$3,905,428
90$5,114,242$0$0$4,206,122
91$5,512,237$0$0$4,534,409
92$5,946,933$0$0$4,893,009
93$6,421,949$0$0$5,284,913
94$6,941,273$0$0$5,713,415
95$7,509,292$0$0$6,182,142
96$8,130,840$0$0$6,695,086
97$8,811,238$0$0$7,256,645
98$9,556,344$0$0$7,871,661
99$10,372,611$0$0$8,545,466
100$11,267,145$0$0$9,283,933