Can I retire at age 53 with 587,000?

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 $587,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$48,474$48,042$47,621$47,210$46,808$46,474
2 years$23,997$23,550$23,117$22,697$22,290$21,953
3 years$15,839$15,390$14,958$14,542$14,141$13,812
4 years$11,761$11,313$10,886$10,477$10,086$9,767
5 years$9,315$8,870$8,448$8,047$7,667$7,359
6 years$7,684$7,243$6,827$6,435$6,067$5,770
7 years$6,520$6,083$5,673$5,291$4,934$4,649
8 years$5,648$5,214$4,811$4,438$4,093$3,820
9 years$4,969$4,540$4,144$3,781$3,447$3,186
10 years$4,427$4,001$3,613$3,259$2,937$2,687
11 years$3,983$3,562$3,181$2,836$2,526$2,287
12 years$3,614$3,197$2,823$2,488$2,189$1,961
13 years$3,302$2,889$2,522$2,196$1,909$1,692
14 years$3,035$2,626$2,266$1,950$1,673$1,467
15 years$2,803$2,399$2,046$1,739$1,473$1,277
16 years$2,601$2,201$1,855$1,557$1,302$1,116
17 years$2,422$2,027$1,688$1,399$1,154$978
18 years$2,264$1,873$1,541$1,261$1,027$859
19 years$2,122$1,736$1,411$1,139$915$757
20 years$1,995$1,613$1,295$1,032$817$668
21 years$1,880$1,503$1,191$936$731$590
22 years$1,776$1,403$1,097$851$656$522
23 years$1,680$1,312$1,013$775$588$463
24 years$1,593$1,229$937$707$529$411
25 years$1,513$1,154$868$646$476$365
26 years$1,440$1,084$805$590$429$324
27 years$1,371$1,020$748$540$387$289
28 years$1,308$961$695$495$349$257
29 years$1,250$907$647$454$315$229
30 years$1,195$857$602$417$285$204
31 years$1,144$810$562$383$257$182
32 years$1,096$766$524$352$233$162
33 years$1,051$726$489$323$211$145
34 years$1,009$688$457$298$191$129
35 years$970$652$427$274$173$116
36 years$932$619$400$252$156$103
37 years$897$588$374$232$142$92
38 years$864$559$350$214$129$82
39 years$832$531$328$198$117$74
40 years$803$506$308$182$106$66
41 years$774$481$289$168$96$59
42 years$747$458$271$155$87$53
43 years$722$437$254$143$79$47
44 years$697$416$238$132$72$42
45 years$674$397$224$122$65$38
46 years$652$379$210$113$59$34
47 years$631$361$198$104$54$30
48 years$611$345$186$96$49$27
49 years$592$329$174$89$44$24
50 years$573$315$164$82$40$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $587,000, adding $4,719 every year, while hoping to spend $41,364 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: 37/49/14 Blend
52$587,000$587,000$587,000$587,000
53$651,742$620,631$611,532$672,911
54$674,208$607,031$588,008$674,924
55$697,580$591,378$562,308$672,782
56$721,906$573,528$534,318$669,571
57$747,238$553,328$503,916$665,216
58$773,632$530,618$470,973$659,639
59$801,150$505,224$435,357$652,758
60$829,855$476,968$396,929$644,485
61$859,818$445,657$355,544$634,731
62$891,114$411,090$311,050$623,401
63$923,827$373,052$263,289$610,394
64$958,043$331,318$212,095$595,608
65$993,859$285,648$157,296$578,934
66$1,031,378$235,790$98,711$560,257
67$1,070,712$181,477$36,152$539,460
68$1,111,984$122,429$0$516,420
69$1,155,326$58,347$0$495,580
70$1,200,881$0$0$478,294
71$1,248,805$0$0$465,026
72$1,299,269$0$0$484,211
73$1,352,457$0$0$504,463
74$1,408,571$0$0$525,863
75$1,467,832$0$0$548,499
76$1,530,477$0$0$572,467
77$1,596,770$0$0$597,873
78$1,666,995$0$0$624,831
79$1,741,466$0$0$653,467
80$1,820,521$0$0$683,918
81$1,904,536$0$0$716,335
82$1,993,917$0$0$750,882
83$2,089,111$0$0$787,740
84$2,190,607$0$0$827,106
85$2,298,940$0$0$869,196
86$2,414,698$0$0$914,247
87$2,538,523$0$0$962,520
88$2,671,119$0$0$1,014,301
89$2,813,262$0$0$1,069,901
90$2,965,798$0$0$1,129,665
91$3,129,658$0$0$1,193,969
92$3,305,865$0$0$1,263,229
93$3,495,540$0$0$1,337,899
94$3,699,914$0$0$1,418,479
95$3,920,342$0$0$1,505,517
96$4,158,308$0$0$1,599,617
97$4,415,448$0$0$1,701,442
98$4,693,554$0$0$1,811,722
99$4,994,601$0$0$1,931,257
100$5,320,758$0$0$2,060,929