Can I retire at age 53 with 585,000?

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 $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%12.7%
1 years$48,309$47,878$47,459$47,049$46,649$46,123
2 years$23,915$23,470$23,038$22,620$22,214$21,685
3 years$15,785$15,338$14,907$14,493$14,093$13,577
4 years$11,721$11,275$10,849$10,441$10,051$9,552
5 years$9,283$8,840$8,419$8,020$7,641$7,160
6 years$7,658$7,218$6,804$6,413$6,046$5,584
7 years$6,498$6,062$5,654$5,273$4,917$4,474
8 years$5,628$5,196$4,795$4,423$4,079$3,655
9 years$4,952$4,524$4,130$3,768$3,435$3,030
10 years$4,412$3,988$3,601$3,248$2,927$2,541
11 years$3,970$3,550$3,170$2,827$2,517$2,149
12 years$3,602$3,186$2,813$2,479$2,181$1,831
13 years$3,291$2,880$2,513$2,189$1,902$1,570
14 years$3,024$2,617$2,258$1,943$1,668$1,352
15 years$2,793$2,391$2,039$1,733$1,468$1,169
16 years$2,592$2,194$1,849$1,552$1,298$1,015
17 years$2,414$2,020$1,682$1,394$1,151$883
18 years$2,256$1,867$1,536$1,256$1,023$770
19 years$2,115$1,730$1,406$1,135$912$674
20 years$1,988$1,608$1,290$1,028$814$590
21 years$1,874$1,498$1,187$933$729$518
22 years$1,770$1,398$1,094$848$653$455
23 years$1,675$1,308$1,010$773$586$400
24 years$1,588$1,225$934$705$527$352
25 years$1,508$1,150$865$644$474$310
26 years$1,435$1,080$802$588$427$274
27 years$1,367$1,017$745$539$385$242
28 years$1,304$958$693$493$348$214
29 years$1,245$904$644$453$314$189
30 years$1,191$854$600$415$284$167
31 years$1,140$807$560$381$256$148
32 years$1,092$764$522$351$232$131
33 years$1,048$723$488$322$210$116
34 years$1,006$685$456$297$190$102
35 years$966$650$426$273$172$91
36 years$929$617$398$251$156$80
37 years$894$586$373$232$141$71
38 years$861$557$349$214$128$63
39 years$830$530$327$197$116$56
40 years$800$504$307$182$105$49
41 years$772$480$288$168$96$44
42 years$745$457$270$155$87$39
43 years$719$435$253$143$79$34
44 years$695$415$238$132$71$31
45 years$672$396$223$122$65$27
46 years$650$377$210$112$59$24
47 years$629$360$197$104$53$21
48 years$609$344$185$96$49$19
49 years$590$328$174$89$44$17
50 years$571$314$163$82$40$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $585,000, adding $4,302 every year, while hoping to spend $47,084 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: 60/29/11 Blend
52$585,000$585,000$585,000$585,000
53$649,108$618,103$609,035$686,110
54$665,219$598,293$579,341$691,674
55$681,397$575,934$547,074$692,026
56$697,596$550,852$512,098$691,259
57$713,769$522,862$474,271$689,270
58$729,860$491,768$433,445$685,946
59$745,806$457,364$389,465$681,165
60$761,535$419,432$342,170$674,795
61$776,967$377,740$291,388$666,693
62$792,013$332,045$236,945$656,706
63$806,572$282,088$178,656$644,668
64$820,529$227,598$116,328$630,399
65$833,758$168,285$49,760$613,705
66$846,117$103,846$0$594,376
67$857,446$33,961$0$574,681
68$867,570$0$0$558,273
69$876,290$0$0$552,376
70$883,387$0$0$556,217
71$888,616$0$0$558,797
72$891,704$0$0$559,933
73$892,350$0$0$559,425
74$890,217$0$0$557,051
75$884,932$0$0$552,562
76$876,081$0$0$545,685
77$863,205$0$0$536,113
78$845,795$0$0$523,511
79$823,288$0$0$507,504
80$795,058$0$0$487,677
81$760,415$0$0$463,574
82$718,592$0$0$434,685
83$668,743$0$0$400,451
84$609,929$0$0$360,249
85$541,116$0$0$313,394
86$461,156$0$0$259,127
87$368,783$0$0$196,607
88$262,597$0$0$124,909
89$141,050$0$0$43,007
90$2,433$0$0$0
91$0$0$0$0
92$0$0$0$0
93$0$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0