Can I retire at age 53 with 593,000?

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 $593,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.2%
1 years$48,969$48,533$48,108$47,692$47,287$45,902
2 years$24,242$23,791$23,353$22,929$22,517$21,133
3 years$16,001$15,548$15,111$14,691$14,286$12,946
4 years$11,881$11,429$10,997$10,584$10,189$8,904
5 years$9,410$8,961$8,534$8,129$7,745$6,518
6 years$7,763$7,317$6,897$6,501$6,129$4,961
7 years$6,587$6,145$5,731$5,345$4,984$3,875
8 years$5,705$5,267$4,861$4,484$4,135$3,084
9 years$5,020$4,586$4,186$3,819$3,482$2,489
10 years$4,472$4,042$3,650$3,292$2,967$2,030
11 years$4,024$3,599$3,213$2,865$2,552$1,669
12 years$3,651$3,230$2,852$2,513$2,211$1,381
13 years$3,336$2,919$2,548$2,219$1,928$1,149
14 years$3,066$2,653$2,289$1,970$1,690$960
15 years$2,832$2,424$2,067$1,756$1,488$805
16 years$2,627$2,224$1,874$1,573$1,315$676
17 years$2,447$2,048$1,705$1,413$1,166$570
18 years$2,287$1,892$1,557$1,273$1,037$481
19 years$2,144$1,754$1,425$1,151$924$407
20 years$2,015$1,630$1,308$1,042$826$345
21 years$1,899$1,518$1,203$946$739$292
22 years$1,794$1,417$1,109$860$662$248
23 years$1,698$1,325$1,024$783$594$211
24 years$1,610$1,242$947$714$534$179
25 years$1,529$1,165$877$652$481$152
26 years$1,454$1,095$813$596$433$130
27 years$1,385$1,031$755$546$390$110
28 years$1,322$971$702$500$352$94
29 years$1,262$916$653$459$318$80
30 years$1,207$865$609$421$287$68
31 years$1,155$818$567$387$260$58
32 years$1,107$774$529$355$235$49
33 years$1,062$733$494$327$213$42
34 years$1,019$695$462$301$193$36
35 years$979$659$432$277$174$31
36 years$942$625$404$255$158$26
37 years$906$594$378$235$143$22
38 years$873$565$354$216$130$19
39 years$841$537$332$200$118$16
40 years$811$511$311$184$107$14
41 years$782$486$291$170$97$12
42 years$755$463$273$157$88$10
43 years$729$441$257$145$80$9
44 years$705$421$241$134$72$7
45 years$681$401$226$123$66$6
46 years$659$383$212$114$60$5
47 years$637$365$200$105$54$5
48 years$617$348$188$97$49$4
49 years$598$333$176$90$45$3
50 years$579$318$166$83$41$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $593,000, adding $6,964 every year, while hoping to spend $30,104 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: 41/36/23 Blend
52$593,000$593,000$593,000$593,000
53$660,669$629,240$620,049$683,036
54$696,027$628,043$608,790$698,517
55$733,983$625,777$596,145$711,872
56$774,769$622,360$582,036$725,726
57$818,641$617,702$566,380$740,140
58$865,882$611,709$549,093$755,186
59$916,799$604,279$530,085$770,944
60$971,731$595,308$509,261$787,505
61$1,031,051$584,681$486,525$804,970
62$1,095,167$572,280$461,773$823,457
63$1,164,531$557,978$434,899$843,095
64$1,239,636$541,642$405,791$864,030
65$1,321,026$523,130$374,332$886,427
66$1,409,298$502,291$340,400$910,470
67$1,505,111$478,967$303,867$936,366
68$1,609,186$452,990$264,600$964,347
69$1,722,319$424,183$222,461$994,672
70$1,845,385$392,358$177,303$1,027,631
71$1,979,347$357,316$128,975$1,063,548
72$2,125,264$318,847$77,319$1,102,785
73$2,284,300$276,731$22,169$1,145,745
74$2,457,740$230,731$0$1,192,879
75$2,646,994$180,602$0$1,253,691
76$2,853,618$126,081$0$1,326,128
77$3,079,320$66,893$0$1,405,412
78$3,325,985$2,745$0$1,492,285
79$3,595,686$0$0$1,587,565
80$3,890,706$0$0$1,718,572
81$4,213,558$0$0$1,863,204
82$4,567,010$0$0$2,021,623
83$4,954,110$0$0$2,195,205
84$5,378,213$0$0$2,385,463
85$5,843,017$0$0$2,594,069
86$6,352,592$0$0$2,822,858
87$6,911,421$0$0$3,073,856
88$7,524,444$0$0$3,349,293
89$8,197,098$0$0$3,651,624
90$8,935,376$0$0$3,983,555
91$9,745,877$0$0$4,348,067
92$10,635,870$0$0$4,748,441
93$11,613,364$0$0$5,188,295
94$12,687,180$0$0$5,671,612
95$13,867,037$0$0$6,202,783
96$15,163,640$0$0$6,786,642
97$16,588,786$0$0$7,428,516
98$18,155,468$0$0$8,134,276
99$19,878,002$0$0$8,910,386
100$21,772,161$0$0$9,763,972