Can I retire at age 53 with 586,000?

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 $586,000?

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$48,391$47,960$47,540$47,129$46,728$46,202
2 years$23,956$23,510$23,078$22,658$22,252$21,722
3 years$15,812$15,364$14,933$14,517$14,117$13,600
4 years$11,741$11,294$10,867$10,459$10,069$9,568
5 years$9,299$8,855$8,433$8,033$7,654$7,172
6 years$7,671$7,231$6,815$6,424$6,056$5,594
7 years$6,509$6,072$5,664$5,282$4,925$4,482
8 years$5,638$5,205$4,803$4,431$4,086$3,662
9 years$4,961$4,532$4,137$3,774$3,441$3,035
10 years$4,419$3,995$3,607$3,253$2,932$2,545
11 years$3,977$3,556$3,175$2,831$2,522$2,153
12 years$3,608$3,192$2,818$2,483$2,185$1,835
13 years$3,296$2,885$2,518$2,193$1,906$1,572
14 years$3,029$2,622$2,262$1,946$1,670$1,354
15 years$2,798$2,395$2,042$1,736$1,471$1,171
16 years$2,596$2,198$1,852$1,554$1,300$1,016
17 years$2,418$2,024$1,685$1,396$1,153$885
18 years$2,260$1,870$1,538$1,258$1,025$772
19 years$2,119$1,733$1,408$1,137$913$675
20 years$1,992$1,611$1,292$1,030$816$591
21 years$1,877$1,500$1,189$935$730$519
22 years$1,773$1,400$1,096$850$654$456
23 years$1,678$1,310$1,012$774$587$401
24 years$1,591$1,227$936$706$528$353
25 years$1,511$1,152$866$645$475$311
26 years$1,437$1,082$804$589$428$274
27 years$1,369$1,019$746$540$386$242
28 years$1,306$960$694$494$348$214
29 years$1,247$905$646$453$314$189
30 years$1,193$855$601$416$284$167
31 years$1,142$808$561$382$257$148
32 years$1,094$765$523$351$232$131
33 years$1,049$724$488$323$210$116
34 years$1,007$687$456$297$190$102
35 years$968$651$427$274$172$91
36 years$931$618$399$252$156$80
37 years$896$587$374$232$142$71
38 years$862$558$350$214$128$63
39 years$831$530$328$197$116$56
40 years$801$505$307$182$106$50
41 years$773$480$288$168$96$44
42 years$746$458$270$155$87$39
43 years$721$436$254$143$79$35
44 years$696$416$238$132$72$31
45 years$673$396$223$122$65$27
46 years$651$378$210$113$59$24
47 years$630$361$197$104$54$21
48 years$610$344$185$96$49$19
49 years$591$329$174$89$44$17
50 years$572$314$164$82$40$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $586,000, adding $3,916 every year, while hoping to spend $34,160 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: 63/28/9 Blend
52$586,000$586,000$586,000$586,000
53$649,811$618,753$609,670$689,260
54$679,746$612,726$593,748$710,062
55$711,589$605,259$576,148$728,432
56$745,500$596,245$556,777$747,620
57$781,651$585,571$535,539$767,707
58$820,232$573,117$512,333$788,778
59$861,454$558,757$487,054$810,932
60$905,542$542,357$459,590$834,278
61$952,749$523,774$429,828$858,936
62$1,003,348$502,858$397,646$885,044
63$1,057,641$479,449$362,919$912,750
64$1,115,959$453,380$325,515$942,224
65$1,178,663$424,473$285,296$973,652
66$1,246,153$392,538$242,120$1,007,243
67$1,318,866$357,378$195,836$1,043,226
68$1,397,282$318,781$146,289$1,081,861
69$1,481,930$276,526$93,314$1,123,433
70$1,573,388$230,377$36,741$1,168,259
71$1,672,294$180,087$0$1,216,694
72$1,779,350$125,392$0$1,271,398
73$1,895,324$66,017$0$1,334,450
74$2,021,063$1,668$0$1,402,821
75$2,157,499$0$0$1,477,065
76$2,305,656$0$0$1,578,739
77$2,466,659$0$0$1,689,825
78$2,641,748$0$0$1,810,668
79$2,832,286$0$0$1,942,214
80$3,039,774$0$0$2,085,504
81$3,265,860$0$0$2,241,683
82$3,512,363$0$0$2,412,011
83$3,781,280$0$0$2,597,876
84$4,074,813$0$0$2,800,803
85$4,395,382$0$0$3,022,474
86$4,745,656$0$0$3,264,740
87$5,128,569$0$0$3,529,636
88$5,547,352$0$0$3,819,407
89$6,005,566$0$0$4,136,521
90$6,507,127$0$0$4,483,699
91$7,056,350$0$0$4,863,934
92$7,657,988$0$0$5,280,524
93$8,317,272$0$0$5,737,101
94$9,039,966$0$0$6,237,665
95$9,832,415$0$0$6,786,621
96$10,701,612$0$0$7,388,820
97$11,655,254$0$0$8,049,609
98$12,701,824$0$0$8,774,872
99$13,850,662$0$0$9,571,094
100$15,112,059$0$0$10,445,418