Can I retire at age 53 with 585,000?

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 $585,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.8%
1 years$48,309$47,878$47,459$47,049$46,649$45,726
2 years$23,915$23,470$23,038$22,620$22,214$21,288
3 years$15,785$15,338$14,907$14,493$14,093$13,193
4 years$11,721$11,275$10,849$10,441$10,051$9,184
5 years$9,283$8,840$8,419$8,020$7,641$6,809
6 years$7,658$7,218$6,804$6,413$6,046$5,250
7 years$6,498$6,062$5,654$5,273$4,917$4,157
8 years$5,628$5,196$4,795$4,423$4,079$3,356
9 years$4,952$4,524$4,130$3,768$3,435$2,747
10 years$4,412$3,988$3,601$3,248$2,927$2,274
11 years$3,970$3,550$3,170$2,827$2,517$1,899
12 years$3,602$3,186$2,813$2,479$2,181$1,596
13 years$3,291$2,880$2,513$2,189$1,902$1,349
14 years$3,024$2,617$2,258$1,943$1,668$1,146
15 years$2,793$2,391$2,039$1,733$1,468$977
16 years$2,592$2,194$1,849$1,552$1,298$835
17 years$2,414$2,020$1,682$1,394$1,151$716
18 years$2,256$1,867$1,536$1,256$1,023$616
19 years$2,115$1,730$1,406$1,135$912$530
20 years$1,988$1,608$1,290$1,028$814$457
21 years$1,874$1,498$1,187$933$729$395
22 years$1,770$1,398$1,094$848$653$341
23 years$1,675$1,308$1,010$773$586$295
24 years$1,588$1,225$934$705$527$256
25 years$1,508$1,150$865$644$474$222
26 years$1,435$1,080$802$588$427$192
27 years$1,367$1,017$745$539$385$167
28 years$1,304$958$693$493$348$145
29 years$1,245$904$644$453$314$126
30 years$1,191$854$600$415$284$109
31 years$1,140$807$560$381$256$95
32 years$1,092$764$522$351$232$83
33 years$1,048$723$488$322$210$72
34 years$1,006$685$456$297$190$63
35 years$966$650$426$273$172$54
36 years$929$617$398$251$156$47
37 years$894$586$373$232$141$41
38 years$861$557$349$214$128$36
39 years$830$530$327$197$116$31
40 years$800$504$307$182$105$27
41 years$772$480$288$168$96$24
42 years$745$457$270$155$87$21
43 years$719$435$253$143$79$18
44 years$695$415$238$132$71$16
45 years$672$396$223$122$65$14
46 years$650$377$210$112$59$12
47 years$629$360$197$104$53$10
48 years$609$344$185$96$49$9
49 years$590$328$174$89$44$8
50 years$571$314$163$82$40$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $585,000, adding $5,313 every year, while hoping to spend $30,356 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: 24/47/29 Blend
52$585,000$585,000$585,000$585,000
53$650,150$619,145$610,078$659,745
54$684,167$617,185$598,217$666,382
55$720,636$614,111$584,941$670,591
56$759,776$609,837$570,171$674,469
57$801,825$604,271$553,824$678,008
58$847,047$597,316$535,813$681,205
59$895,729$588,868$516,046$684,057
60$948,189$578,818$494,429$686,566
61$1,004,774$567,051$470,863$688,737
62$1,065,867$553,442$445,243$690,579
63$1,131,888$537,863$417,461$692,107
64$1,203,298$520,175$387,403$693,341
65$1,280,604$500,234$354,951$694,308
66$1,364,364$477,884$319,980$695,043
67$1,455,192$452,963$282,362$695,588
68$1,553,762$425,298$241,961$695,996
69$1,660,815$394,707$198,636$696,332
70$1,777,167$360,997$152,240$696,672
71$1,903,717$323,964$102,618$697,107
72$2,041,450$283,393$49,611$697,743
73$2,191,455$239,056$0$698,706
74$2,354,926$190,712$0$702,294
75$2,533,179$138,107$0$723,044
76$2,727,662$80,974$0$745,839
77$2,939,970$19,028$0$770,961
78$3,171,857$0$0$798,726
79$3,425,255$0$0$854,328
80$3,702,290$0$0$925,974
81$4,005,304$0$0$1,004,439
82$4,336,875$0$0$1,090,404
83$4,699,842$0$0$1,184,618
84$5,097,330$0$0$1,287,906
85$5,532,782$0$0$1,401,177
86$6,009,990$0$0$1,525,432
87$6,533,128$0$0$1,661,772
88$7,106,795$0$0$1,811,413
89$7,736,055$0$0$1,975,692
90$8,426,488$0$0$2,156,082
91$9,184,237$0$0$2,354,206
92$10,016,072$0$0$2,571,852
93$10,929,448$0$0$2,810,990
94$11,932,577$0$0$3,073,790
95$13,034,508$0$0$3,362,641
96$14,245,208$0$0$3,680,178
97$15,575,656$0$0$4,029,302
98$17,037,949$0$0$4,413,209
99$18,645,413$0$0$4,835,422
100$20,412,731$0$0$5,299,821