Can I retire at age 53 with 589,000?

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 $589,000?

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$48,639$48,206$47,783$47,371$46,968$46,633
2 years$24,079$23,630$23,196$22,774$22,366$22,028
3 years$15,893$15,443$15,009$14,592$14,190$13,859
4 years$11,801$11,352$10,923$10,513$10,120$9,800
5 years$9,346$8,900$8,477$8,075$7,693$7,384
6 years$7,711$7,268$6,850$6,457$6,087$5,790
7 years$6,543$6,103$5,693$5,309$4,951$4,665
8 years$5,667$5,232$4,828$4,454$4,107$3,833
9 years$4,986$4,555$4,158$3,793$3,459$3,196
10 years$4,442$4,015$3,625$3,270$2,947$2,696
11 years$3,997$3,574$3,192$2,846$2,535$2,295
12 years$3,627$3,208$2,832$2,496$2,196$1,968
13 years$3,313$2,899$2,531$2,204$1,915$1,698
14 years$3,045$2,635$2,274$1,956$1,679$1,472
15 years$2,813$2,407$2,053$1,745$1,478$1,281
16 years$2,609$2,209$1,861$1,562$1,306$1,120
17 years$2,430$2,034$1,694$1,404$1,158$981
18 years$2,272$1,880$1,546$1,265$1,030$862
19 years$2,130$1,742$1,415$1,143$918$759
20 years$2,002$1,619$1,299$1,035$820$670
21 years$1,886$1,508$1,195$939$734$592
22 years$1,782$1,408$1,101$854$658$524
23 years$1,686$1,316$1,017$778$590$465
24 years$1,599$1,233$940$710$531$412
25 years$1,519$1,158$871$648$478$366
26 years$1,445$1,088$808$592$430$326
27 years$1,376$1,024$750$542$388$290
28 years$1,313$965$697$497$350$258
29 years$1,254$910$649$456$316$230
30 years$1,199$860$604$418$286$205
31 years$1,148$813$563$384$258$183
32 years$1,100$769$526$353$234$163
33 years$1,055$728$491$325$211$145
34 years$1,013$690$459$299$191$130
35 years$973$655$429$275$173$116
36 years$935$621$401$253$157$104
37 years$900$590$375$233$142$93
38 years$867$561$352$215$129$83
39 years$835$533$329$198$117$74
40 years$805$507$309$183$106$66
41 years$777$483$290$169$96$59
42 years$750$460$272$156$87$53
43 years$724$438$255$144$79$47
44 years$700$418$239$133$72$42
45 years$677$398$225$123$65$38
46 years$654$380$211$113$59$34
47 years$633$363$198$105$54$30
48 years$613$346$186$97$49$27
49 years$594$331$175$89$44$24
50 years$575$316$165$83$40$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $589,000, adding $4,559 every year, while hoping to spend $28,771 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: 52/22/26 Blend
52$589,000$589,000$589,000$589,000
53$653,781$622,564$613,434$682,812
54$689,854$622,457$603,372$703,317
55$728,643$621,381$592,009$722,313
56$770,393$619,258$579,270$742,396
57$815,376$616,004$565,078$763,684
58$863,889$611,533$549,353$786,303
59$916,259$605,751$532,009$810,397
60$972,845$598,560$512,959$836,126
61$1,034,040$589,855$492,108$863,666
62$1,100,280$579,525$469,361$893,215
63$1,172,040$567,454$444,616$924,991
64$1,249,845$553,516$417,768$959,237
65$1,334,271$537,580$388,705$996,225
66$1,425,952$519,507$357,312$1,036,254
67$1,525,585$499,149$323,469$1,079,657
68$1,633,938$476,351$287,048$1,126,805
69$1,751,855$450,947$247,919$1,178,106
70$1,880,264$422,762$205,944$1,234,017
71$2,020,186$391,613$160,978$1,295,042
72$2,172,747$357,304$112,873$1,361,740
73$2,339,183$319,628$61,471$1,434,730
74$2,520,858$278,369$6,608$1,514,699
75$2,719,271$233,294$0$1,602,407
76$2,936,072$184,161$0$1,713,106
77$3,173,080$130,713$0$1,836,212
78$3,432,294$72,678$0$1,970,973
79$3,715,918$9,769$0$2,118,584
80$4,026,378$0$0$2,280,367
81$4,366,346$0$0$2,471,895
82$4,738,762$0$0$2,684,353
83$5,146,866$0$0$2,917,232
84$5,594,227$0$0$3,172,576
85$6,084,774$0$0$3,452,635
86$6,622,835$0$0$3,759,888
87$7,213,176$0$0$4,097,066
88$7,861,048$0$0$4,467,178
89$8,572,236$0$0$4,873,535
90$9,353,110$0$0$5,319,787
91$10,210,687$0$0$5,809,956
92$11,152,700$0$0$6,348,470
93$12,187,664$0$0$6,940,208
94$13,324,963$0$0$7,590,546
95$14,574,932$0$0$8,305,405
96$15,948,959$0$0$9,091,309
97$17,459,589$0$0$9,955,446
98$19,120,644$0$0$10,905,734
99$20,947,353$0$0$11,950,900
100$22,956,492$0$0$13,100,555