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%11%
1 years$48,391$47,960$47,540$47,129$46,728$46,532
2 years$23,956$23,510$23,078$22,658$22,252$22,053
3 years$15,812$15,364$14,933$14,517$14,117$13,923
4 years$11,741$11,294$10,867$10,459$10,069$9,880
5 years$9,299$8,855$8,433$8,033$7,654$7,472
6 years$7,671$7,231$6,815$6,424$6,056$5,880
7 years$6,509$6,072$5,664$5,282$4,925$4,756
8 years$5,638$5,205$4,803$4,431$4,086$3,924
9 years$4,961$4,532$4,137$3,774$3,441$3,285
10 years$4,419$3,995$3,607$3,253$2,932$2,783
11 years$3,977$3,556$3,175$2,831$2,522$2,379
12 years$3,608$3,192$2,818$2,483$2,185$2,049
13 years$3,296$2,885$2,518$2,193$1,906$1,775
14 years$3,029$2,622$2,262$1,946$1,670$1,546
15 years$2,798$2,395$2,042$1,736$1,471$1,352
16 years$2,596$2,198$1,852$1,554$1,300$1,187
17 years$2,418$2,024$1,685$1,396$1,153$1,046
18 years$2,260$1,870$1,538$1,258$1,025$923
19 years$2,119$1,733$1,408$1,137$913$817
20 years$1,992$1,611$1,292$1,030$816$725
21 years$1,877$1,500$1,189$935$730$644
22 years$1,773$1,400$1,096$850$654$573
23 years$1,678$1,310$1,012$774$587$511
24 years$1,591$1,227$936$706$528$455
25 years$1,511$1,152$866$645$475$407
26 years$1,437$1,082$804$589$428$364
27 years$1,369$1,019$746$540$386$325
28 years$1,306$960$694$494$348$291
29 years$1,247$905$646$453$314$261
30 years$1,193$855$601$416$284$234
31 years$1,142$808$561$382$257$210
32 years$1,094$765$523$351$232$188
33 years$1,049$724$488$323$210$169
34 years$1,007$687$456$297$190$152
35 years$968$651$427$274$172$136
36 years$931$618$399$252$156$122
37 years$896$587$374$232$142$110
38 years$862$558$350$214$128$99
39 years$831$530$328$197$116$89
40 years$801$505$307$182$106$80
41 years$773$480$288$168$96$72
42 years$746$458$270$155$87$65
43 years$721$436$254$143$79$58
44 years$696$416$238$132$72$52
45 years$673$396$223$122$65$47
46 years$651$378$210$113$59$42
47 years$630$361$197$104$54$38
48 years$610$344$185$96$49$34
49 years$591$329$174$89$44$31
50 years$572$314$164$82$40$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $586,000, adding $3,322 every year, while hoping to spend $31,848 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: 45/50/5 Blend
52$586,000$586,000$586,000$586,000
53$649,199$618,141$609,058$677,378
54$681,531$614,544$595,575$693,518
55$716,094$609,703$580,573$707,420
56$753,081$603,524$563,968$721,743
57$792,705$595,906$545,671$736,533
58$835,199$586,744$525,589$751,847
59$880,819$575,924$503,626$767,747
60$929,846$563,328$479,681$784,306
61$982,588$548,829$453,648$801,603
62$1,039,384$532,293$425,417$819,732
63$1,100,604$513,579$394,872$838,796
64$1,166,659$492,537$361,893$858,913
65$1,237,995$469,008$326,353$880,216
66$1,315,106$442,825$288,121$902,855
67$1,398,533$413,810$247,060$926,998
68$1,488,873$381,776$203,026$952,835
69$1,586,780$346,525$155,869$980,580
70$1,692,973$307,846$105,433$1,010,471
71$1,808,245$265,520$51,553$1,042,776
72$1,933,466$219,310$0$1,077,795
73$2,069,595$168,971$0$1,116,183
74$2,217,684$114,241$0$1,160,954
75$2,378,893$54,845$0$1,209,785
76$2,554,499$0$0$1,263,156
77$2,745,905$0$0$1,326,834
78$2,954,655$0$0$1,429,255
79$3,182,451$0$0$1,541,087
80$3,431,165$0$0$1,663,255
81$3,702,857$0$0$1,796,782
82$3,999,795$0$0$1,942,791
83$4,324,478$0$0$2,102,519
84$4,679,654$0$0$2,277,328
85$5,068,351$0$0$2,468,718
86$5,493,904$0$0$2,678,343
87$5,959,984$0$0$2,908,020
88$6,470,633$0$0$3,159,754
89$7,030,305$0$0$3,435,750
90$7,643,902$0$0$3,738,440
91$8,316,827$0$0$4,070,500
92$9,055,027$0$0$4,434,878
93$9,865,055$0$0$4,834,822
94$10,754,127$0$0$5,273,910
95$11,730,195$0$0$5,756,081
96$12,802,014$0$0$6,285,678
97$13,979,233$0$0$6,867,481
98$15,272,477$0$0$7,506,759
99$16,693,454$0$0$8,209,315
100$18,255,060$0$0$8,981,543