Can I retire at age 53 with 590,000?

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 $590,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.4%
1 years$48,722$48,288$47,864$47,451$47,047$46,004
2 years$24,120$23,670$23,235$22,813$22,404$21,357
3 years$15,920$15,469$15,035$14,616$14,214$13,198
4 years$11,821$11,371$10,941$10,530$10,137$9,159
5 years$9,362$8,915$8,491$8,088$7,706$6,769
6 years$7,724$7,280$6,862$6,468$6,098$5,203
7 years$6,554$6,114$5,702$5,318$4,959$4,106
8 years$5,677$5,241$4,836$4,461$4,114$3,303
9 years$4,995$4,563$4,165$3,800$3,465$2,694
10 years$4,450$4,022$3,631$3,276$2,952$2,222
11 years$4,004$3,580$3,197$2,851$2,539$1,848
12 years$3,633$3,214$2,837$2,500$2,200$1,548
13 years$3,319$2,904$2,535$2,208$1,919$1,303
14 years$3,050$2,640$2,278$1,960$1,682$1,102
15 years$2,817$2,412$2,056$1,748$1,481$936
16 years$2,614$2,213$1,864$1,565$1,309$797
17 years$2,435$2,038$1,697$1,406$1,160$680
18 years$2,275$1,883$1,549$1,267$1,032$582
19 years$2,133$1,745$1,418$1,145$920$499
20 years$2,005$1,622$1,301$1,037$821$428
21 years$1,890$1,510$1,197$941$735$368
22 years$1,785$1,410$1,103$856$659$317
23 years$1,689$1,319$1,018$779$591$273
24 years$1,602$1,236$942$711$532$235
25 years$1,521$1,159$872$649$478$203
26 years$1,447$1,090$809$593$431$175
27 years$1,378$1,026$751$543$389$151
28 years$1,315$966$698$498$351$131
29 years$1,256$912$650$456$317$113
30 years$1,201$861$605$419$286$98
31 years$1,150$814$564$385$259$85
32 years$1,102$770$527$354$234$73
33 years$1,057$729$492$325$212$63
34 years$1,014$691$459$299$192$55
35 years$975$656$430$275$174$47
36 years$937$622$402$254$157$41
37 years$902$591$376$234$143$36
38 years$868$562$352$215$129$31
39 years$837$534$330$199$117$27
40 years$807$508$309$183$106$23
41 years$778$484$290$169$96$20
42 years$751$461$272$156$88$17
43 years$725$439$255$144$79$15
44 years$701$418$240$133$72$13
45 years$678$399$225$123$65$11
46 years$655$381$211$113$59$10
47 years$634$363$199$105$54$8
48 years$614$347$187$97$49$7
49 years$595$331$175$89$45$6
50 years$576$316$165$83$40$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $590,000, adding $2,766 every year, while hoping to spend $39,803 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: 60/31/9 Blend
52$590,000$590,000$590,000$590,000
53$653,033$621,763$612,618$690,733
54$677,292$609,879$590,791$704,468
55$702,692$596,079$566,898$714,658
56$729,307$580,227$540,829$724,785
57$757,216$562,179$512,467$734,844
58$786,509$541,782$481,691$744,833
59$817,279$518,875$448,374$754,750
60$849,629$493,288$412,383$764,596
61$883,673$464,841$373,579$774,373
62$919,532$433,342$331,818$784,087
63$957,338$398,590$286,948$793,746
64$997,237$360,372$238,812$803,361
65$1,039,387$318,462$187,243$812,950
66$1,083,960$272,622$132,071$822,532
67$1,131,144$222,600$73,115$832,133
68$1,181,143$168,130$10,188$841,785
69$1,234,184$108,933$0$851,528
70$1,290,510$44,710$0$866,878
71$1,350,391$0$0$883,821
72$1,414,119$0$0$909,940
73$1,482,016$0$0$954,044
74$1,554,434$0$0$1,001,112
75$1,631,758$0$0$1,051,398
76$1,714,410$0$0$1,105,181
77$1,802,853$0$0$1,162,765
78$1,897,595$0$0$1,224,486
79$1,999,193$0$0$1,290,711
80$2,108,257$0$0$1,361,843
81$2,225,457$0$0$1,438,324
82$2,351,530$0$0$1,520,639
83$2,487,284$0$0$1,609,322
84$2,633,605$0$0$1,704,959
85$2,791,468$0$0$1,808,192
86$2,961,944$0$0$1,919,728
87$3,146,210$0$0$2,040,346
88$3,345,559$0$0$2,170,897
89$3,561,411$0$0$2,312,322
90$3,795,331$0$0$2,465,651
91$4,049,037$0$0$2,632,021
92$4,324,417$0$0$2,812,679
93$4,623,551$0$0$3,008,997
94$4,948,726$0$0$3,222,488
95$5,302,456$0$0$3,454,811
96$5,687,508$0$0$3,707,796
97$6,106,928$0$0$3,983,454
98$6,564,067$0$0$4,283,999
99$7,062,612$0$0$4,611,868
100$7,606,623$0$0$4,969,743