Can I retire at age 53 with 586,000?

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 $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%13.7%
1 years$48,391$47,960$47,540$47,129$46,728$46,011
2 years$23,956$23,510$23,078$22,658$22,252$21,531
3 years$15,812$15,364$14,933$14,517$14,117$13,415
4 years$11,741$11,294$10,867$10,459$10,069$9,391
5 years$9,299$8,855$8,433$8,033$7,654$7,002
6 years$7,671$7,231$6,815$6,424$6,056$5,432
7 years$6,509$6,072$5,664$5,282$4,925$4,328
8 years$5,638$5,205$4,803$4,431$4,086$3,515
9 years$4,961$4,532$4,137$3,774$3,441$2,897
10 years$4,419$3,995$3,607$3,253$2,932$2,414
11 years$3,977$3,556$3,175$2,831$2,522$2,030
12 years$3,608$3,192$2,818$2,483$2,185$1,719
13 years$3,296$2,885$2,518$2,193$1,906$1,463
14 years$3,029$2,622$2,262$1,946$1,670$1,252
15 years$2,798$2,395$2,042$1,736$1,471$1,075
16 years$2,596$2,198$1,852$1,554$1,300$927
17 years$2,418$2,024$1,685$1,396$1,153$801
18 years$2,260$1,870$1,538$1,258$1,025$694
19 years$2,119$1,733$1,408$1,137$913$602
20 years$1,992$1,611$1,292$1,030$816$524
21 years$1,877$1,500$1,189$935$730$456
22 years$1,773$1,400$1,096$850$654$398
23 years$1,678$1,310$1,012$774$587$347
24 years$1,591$1,227$936$706$528$303
25 years$1,511$1,152$866$645$475$265
26 years$1,437$1,082$804$589$428$232
27 years$1,369$1,019$746$540$386$203
28 years$1,306$960$694$494$348$178
29 years$1,247$905$646$453$314$156
30 years$1,193$855$601$416$284$137
31 years$1,142$808$561$382$257$120
32 years$1,094$765$523$351$232$105
33 years$1,049$724$488$323$210$92
34 years$1,007$687$456$297$190$81
35 years$968$651$427$274$172$71
36 years$931$618$399$252$156$63
37 years$896$587$374$232$142$55
38 years$862$558$350$214$128$48
39 years$831$530$328$197$116$42
40 years$801$505$307$182$106$37
41 years$773$480$288$168$96$33
42 years$746$458$270$155$87$29
43 years$721$436$254$143$79$25
44 years$696$416$238$132$72$22
45 years$673$396$223$122$65$20
46 years$651$378$210$113$59$17
47 years$630$361$197$104$54$15
48 years$610$344$185$96$49$13
49 years$591$329$174$89$44$12
50 years$572$314$164$82$40$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $586,000, adding $5,685 every year, while hoping to spend $22,865 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: 78/5/17 Blend
52$586,000$586,000$586,000$586,000
53$651,636$620,578$611,495$699,592
54$693,775$626,658$607,652$738,104
55$739,445$632,270$602,914$776,890
56$788,984$637,366$597,226$818,809
57$842,760$641,897$590,533$864,165
58$901,180$645,808$582,775$913,297
59$964,691$649,044$573,889$966,573
60$1,033,786$651,543$563,810$1,024,403
61$1,109,005$653,242$552,471$1,087,236
62$1,190,944$654,072$539,799$1,155,569
63$1,280,259$653,960$525,721$1,229,947
64$1,377,671$652,830$510,159$1,310,974
65$1,483,975$650,599$493,030$1,399,313
66$1,600,043$647,181$474,249$1,495,696
67$1,726,838$642,484$453,727$1,600,930
68$1,865,420$636,410$431,371$1,715,903
69$2,016,953$628,855$407,083$1,841,596
70$2,182,723$619,709$380,761$1,979,088
71$2,364,143$608,857$352,299$2,129,570
72$2,562,770$596,175$321,584$2,294,353
73$2,780,316$581,532$288,502$2,474,885
74$3,018,672$564,790$252,929$2,672,759
75$3,279,914$545,802$214,741$2,889,732
76$3,566,334$524,415$173,802$3,127,741
77$3,880,452$500,463$129,977$3,388,921
78$4,225,046$473,774$83,119$3,675,625
79$4,603,175$444,164$33,079$3,990,446
80$5,018,210$411,438$0$4,336,244
81$5,473,862$375,393$0$4,719,857
82$5,974,220$335,812$0$5,147,712
83$6,523,788$292,464$0$5,617,665
84$7,127,528$245,109$0$6,133,966
85$7,790,907$193,490$0$6,701,302
86$8,519,946$137,338$0$7,324,833
87$9,321,280$76,367$0$8,010,248
88$10,202,217$10,275$0$8,763,812
89$11,170,810$0$0$9,592,430
90$12,235,930$0$0$10,507,081
91$13,407,352$0$0$11,513,660
92$14,695,845$0$0$12,620,858
93$16,113,274$0$0$13,838,873
94$17,672,712$0$0$15,178,943
95$19,388,563$0$0$16,653,448
96$21,276,697$0$0$18,276,029
97$23,354,603$0$0$20,061,717
98$25,641,546$0$0$22,027,074
99$28,158,758$0$0$24,190,347
100$30,929,631$0$0$26,571,645