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%15.9%
1 years$48,309$47,878$47,459$47,049$46,649$45,521
2 years$23,915$23,470$23,038$22,620$22,214$21,084
3 years$15,785$15,338$14,907$14,493$14,093$12,998
4 years$11,721$11,275$10,849$10,441$10,051$8,998
5 years$9,283$8,840$8,419$8,020$7,641$6,632
6 years$7,658$7,218$6,804$6,413$6,046$5,083
7 years$6,498$6,062$5,654$5,273$4,917$4,001
8 years$5,628$5,196$4,795$4,423$4,079$3,208
9 years$4,952$4,524$4,130$3,768$3,435$2,610
10 years$4,412$3,988$3,601$3,248$2,927$2,145
11 years$3,970$3,550$3,170$2,827$2,517$1,779
12 years$3,602$3,186$2,813$2,479$2,181$1,485
13 years$3,291$2,880$2,513$2,189$1,902$1,246
14 years$3,024$2,617$2,258$1,943$1,668$1,050
15 years$2,793$2,391$2,039$1,733$1,468$888
16 years$2,592$2,194$1,849$1,552$1,298$754
17 years$2,414$2,020$1,682$1,394$1,151$641
18 years$2,256$1,867$1,536$1,256$1,023$547
19 years$2,115$1,730$1,406$1,135$912$467
20 years$1,988$1,608$1,290$1,028$814$399
21 years$1,874$1,498$1,187$933$729$342
22 years$1,770$1,398$1,094$848$653$293
23 years$1,675$1,308$1,010$773$586$251
24 years$1,588$1,225$934$705$527$216
25 years$1,508$1,150$865$644$474$186
26 years$1,435$1,080$802$588$427$160
27 years$1,367$1,017$745$539$385$137
28 years$1,304$958$693$493$348$118
29 years$1,245$904$644$453$314$102
30 years$1,191$854$600$415$284$88
31 years$1,140$807$560$381$256$75
32 years$1,092$764$522$351$232$65
33 years$1,048$723$488$322$210$56
34 years$1,006$685$456$297$190$48
35 years$966$650$426$273$172$42
36 years$929$617$398$251$156$36
37 years$894$586$373$232$141$31
38 years$861$557$349$214$128$27
39 years$830$530$327$197$116$23
40 years$800$504$307$182$105$20
41 years$772$480$288$168$96$17
42 years$745$457$270$155$87$15
43 years$719$435$253$143$79$13
44 years$695$415$238$132$71$11
45 years$672$396$223$122$65$9
46 years$650$377$210$112$59$8
47 years$629$360$197$104$53$7
48 years$609$344$185$96$49$6
49 years$590$328$174$89$44$5
50 years$571$314$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 $585,000, adding $6,396 every year, while hoping to spend $43,463 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: 44/37/19 Blend
52$585,000$585,000$585,000$585,000
53$651,267$620,262$611,195$676,089
54$671,452$604,411$585,426$678,329
55$692,240$586,326$557,336$675,975
56$713,644$565,853$526,804$672,516
57$735,683$542,826$493,698$667,871
58$758,370$517,072$457,885$661,954
59$781,723$488,407$419,223$654,674
60$805,756$456,637$377,564$645,934
61$830,486$421,555$332,756$635,632
62$855,929$382,945$284,636$623,659
63$882,100$340,575$233,038$609,902
64$909,014$294,204$177,785$594,238
65$936,688$243,574$118,695$576,540
66$965,135$188,414$55,576$556,672
67$994,371$128,438$0$534,491
68$1,024,408$63,343$0$512,235
69$1,055,261$0$0$499,533
70$1,086,941$0$0$487,909
71$1,119,460$0$0$502,444
72$1,152,827$0$0$517,352
73$1,187,052$0$0$532,636
74$1,222,143$0$0$548,298
75$1,258,104$0$0$564,339
76$1,294,939$0$0$580,761
77$1,332,649$0$0$597,561
78$1,371,233$0$0$614,738
79$1,410,686$0$0$632,289
80$1,451,000$0$0$650,207
81$1,492,163$0$0$668,486
82$1,534,160$0$0$687,115
83$1,576,969$0$0$706,085
84$1,620,564$0$0$725,378
85$1,664,912$0$0$744,979
86$1,709,974$0$0$764,866
87$1,755,702$0$0$785,014
88$1,802,040$0$0$805,395
89$1,848,924$0$0$825,974
90$1,896,276$0$0$846,712
91$1,944,010$0$0$867,565
92$1,992,023$0$0$888,482
93$2,040,200$0$0$909,404
94$2,088,408$0$0$930,263
95$2,136,497$0$0$950,986
96$2,184,295$0$0$971,487
97$2,231,610$0$0$991,668
98$2,278,224$0$0$1,011,423
99$2,323,890$0$0$1,030,628
100$2,368,333$0$0$1,049,148