Can I retire at age 53 with 591,000?

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 $591,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$48,804$48,370$47,945$47,531$47,127$46,461
2 years$24,161$23,711$23,274$22,852$22,442$21,772
3 years$15,947$15,495$15,060$14,641$14,238$13,585
4 years$11,841$11,391$10,960$10,548$10,155$9,524
5 years$9,378$8,930$8,505$8,102$7,719$7,113
6 years$7,737$7,292$6,874$6,479$6,108$5,526
7 years$6,565$6,124$5,712$5,327$4,967$4,411
8 years$5,686$5,249$4,844$4,469$4,121$3,589
9 years$5,003$4,571$4,172$3,806$3,470$2,963
10 years$4,457$4,029$3,638$3,281$2,957$2,474
11 years$4,011$3,587$3,202$2,856$2,543$2,084
12 years$3,639$3,219$2,842$2,505$2,204$1,768
13 years$3,324$2,909$2,539$2,211$1,922$1,508
14 years$3,055$2,644$2,281$1,963$1,685$1,293
15 years$2,822$2,416$2,060$1,751$1,483$1,113
16 years$2,618$2,216$1,868$1,567$1,311$961
17 years$2,439$2,041$1,699$1,408$1,162$832
18 years$2,279$1,886$1,551$1,269$1,034$723
19 years$2,137$1,748$1,420$1,147$921$629
20 years$2,009$1,624$1,303$1,039$823$548
21 years$1,893$1,513$1,199$943$736$478
22 years$1,788$1,412$1,105$857$660$418
23 years$1,692$1,321$1,020$781$592$365
24 years$1,604$1,238$944$712$533$320
25 years$1,524$1,161$874$650$479$281
26 years$1,449$1,092$810$594$432$246
27 years$1,381$1,027$753$544$389$216
28 years$1,317$968$700$499$351$190
29 years$1,258$913$651$457$317$167
30 years$1,203$862$606$420$286$147
31 years$1,152$815$565$385$259$129
32 years$1,103$771$528$354$234$113
33 years$1,058$731$493$326$212$100
34 years$1,016$692$460$300$192$88
35 years$976$657$430$276$174$77
36 years$939$623$402$254$158$68
37 years$903$592$377$234$143$60
38 years$870$563$353$216$129$53
39 years$838$535$331$199$117$47
40 years$808$509$310$183$106$41
41 years$779$485$290$169$97$36
42 years$752$461$272$156$88$32
43 years$727$440$256$144$80$28
44 years$702$419$240$133$72$25
45 years$679$400$225$123$66$22
46 years$657$381$212$114$60$19
47 years$635$364$199$105$54$17
48 years$615$347$187$97$49$15
49 years$596$332$176$90$45$13
50 years$577$317$165$83$40$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $591,000, adding $2,639 every year, while hoping to spend $36,950 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: 58/16/26 Blend
52$591,000$591,000$591,000$591,000
53$654,004$622,681$613,521$687,177
54$681,398$613,878$594,759$701,350
55$710,348$603,405$574,131$712,646
56$740,973$591,142$551,534$724,187
57$773,404$576,960$526,862$736,006
58$807,784$560,723$500,005$748,141
59$844,269$542,290$470,846$760,638
60$883,029$521,507$439,264$773,546
61$924,251$498,214$405,132$786,926
62$968,139$472,240$368,318$800,842
63$1,014,917$443,407$328,684$815,371
64$1,064,828$411,524$286,085$830,599
65$1,118,142$376,390$240,371$846,622
66$1,175,152$337,793$191,382$863,550
67$1,236,180$295,508$138,956$881,508
68$1,301,580$249,297$82,921$900,636
69$1,371,738$198,910$23,096$921,091
70$1,447,081$144,082$0$943,050
71$1,528,075$84,533$0$978,017
72$1,615,232$19,969$0$1,022,483
73$1,709,115$0$0$1,070,340
74$1,810,341$0$0$1,130,719
75$1,919,590$0$0$1,199,715
76$2,037,606$0$0$1,274,290
77$2,165,211$0$0$1,354,965
78$2,303,303$0$0$1,442,317
79$2,452,874$0$0$1,536,976
80$2,615,013$0$0$1,639,638
81$2,790,916$0$0$1,751,067
82$2,981,899$0$0$1,872,104
83$3,189,412$0$0$2,003,673
84$3,415,047$0$0$2,146,791
85$3,660,557$0$0$2,302,578
86$3,927,870$0$0$2,472,265
87$4,219,107$0$0$2,657,207
88$4,536,605$0$0$2,858,895
89$4,882,932$0$0$3,078,971
90$5,260,919$0$0$3,319,242
91$5,673,677$0$0$3,581,695
92$6,124,635$0$0$3,868,522
93$6,617,567$0$0$4,182,132
94$7,156,627$0$0$4,525,180
95$7,746,389$0$0$4,900,587
96$8,391,890$0$0$5,311,572
97$9,098,676$0$0$5,761,677
98$9,872,855$0$0$6,254,806
99$10,721,152$0$0$6,795,254
100$11,650,977$0$0$7,387,757