Can I retire at age 53 with 598,000?

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 $598,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13%
1 years$49,382$48,942$48,513$48,094$47,685$47,089
2 years$24,447$23,991$23,550$23,122$22,707$22,108
3 years$16,136$15,679$15,238$14,815$14,406$13,822
4 years$11,981$11,525$11,090$10,673$10,275$9,710
5 years$9,489$9,036$8,606$8,198$7,811$7,267
6 years$7,828$7,379$6,955$6,556$6,180$5,658
7 years$6,643$6,197$5,780$5,390$5,026$4,526
8 years$5,754$5,312$4,902$4,522$4,170$3,691
9 years$5,062$4,625$4,222$3,851$3,512$3,055
10 years$4,510$4,076$3,681$3,320$2,992$2,556
11 years$4,058$3,629$3,240$2,889$2,573$2,159
12 years$3,682$3,257$2,876$2,534$2,230$1,836
13 years$3,364$2,944$2,569$2,237$1,945$1,570
14 years$3,091$2,676$2,308$1,986$1,705$1,350
15 years$2,856$2,444$2,084$1,771$1,501$1,165
16 years$2,649$2,243$1,890$1,586$1,326$1,009
17 years$2,468$2,065$1,720$1,425$1,176$876
18 years$2,306$1,908$1,570$1,284$1,046$763
19 years$2,162$1,769$1,437$1,160$932$666
20 years$2,032$1,644$1,319$1,051$833$582
21 years$1,915$1,531$1,213$954$745$509
22 years$1,809$1,429$1,118$867$668$446
23 years$1,712$1,337$1,032$790$599$392
24 years$1,623$1,252$955$720$539$344
25 years$1,542$1,175$884$658$485$303
26 years$1,467$1,105$820$602$437$266
27 years$1,397$1,039$762$551$394$234
28 years$1,333$979$708$504$355$207
29 years$1,273$924$659$463$321$182
30 years$1,217$873$614$425$290$161
31 years$1,165$825$572$390$262$142
32 years$1,117$781$534$358$237$125
33 years$1,071$739$498$330$215$110
34 years$1,028$701$466$303$194$98
35 years$988$665$435$279$176$86
36 years$950$631$407$257$159$76
37 years$914$599$381$237$144$67
38 years$880$569$357$218$131$59
39 years$848$541$334$201$119$53
40 years$818$515$313$186$108$46
41 years$789$490$294$171$98$41
42 years$761$467$276$158$89$36
43 years$735$445$259$146$80$32
44 years$711$424$243$135$73$28
45 years$687$404$228$124$66$25
46 years$664$386$214$115$60$22
47 years$643$368$201$106$55$20
48 years$622$351$189$98$50$17
49 years$603$336$178$91$45$15
50 years$584$321$167$84$41$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $598,000, adding $5,703 every year, while hoping to spend $27,351 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: 39/44/17 Blend
52$598,000$598,000$598,000$598,000
53$664,879$633,185$623,916$687,229
54$703,595$635,109$615,716$705,661
55$745,344$636,212$606,324$722,524
56$790,405$636,423$595,672$740,180
57$839,088$635,669$583,689$758,715
58$891,730$633,871$570,297$778,224
59$948,704$630,948$555,420$798,817
60$1,010,418$626,812$538,973$820,613
61$1,077,324$621,368$520,871$843,749
62$1,149,914$614,519$501,024$868,375
63$1,228,734$606,159$479,337$894,660
64$1,314,382$596,178$455,712$922,794
65$1,407,516$584,458$430,046$952,986
66$1,508,861$570,874$402,230$985,471
67$1,619,212$555,294$372,152$1,020,511
68$1,739,447$537,580$339,695$1,058,399
69$1,870,532$517,582$304,735$1,099,459
70$2,013,527$495,144$267,145$1,144,053
71$2,169,602$470,101$226,789$1,192,582
72$2,340,043$442,279$183,529$1,245,496
73$2,526,268$411,490$137,217$1,303,292
74$2,729,835$377,541$87,702$1,366,523
75$2,952,461$340,224$34,823$1,435,802
76$3,196,037$299,319$0$1,511,814
77$3,462,644$254,597$0$1,599,234
78$3,754,575$205,813$0$1,701,980
79$4,074,352$152,709$0$1,814,693
80$4,424,756$95,012$0$1,938,443
81$4,808,849$32,435$0$2,074,412
82$5,230,001$0$0$2,223,909
83$5,691,926$0$0$2,405,485
84$6,198,714$0$0$2,622,008
85$6,754,870$0$0$2,859,707
86$7,365,356$0$0$3,120,715
87$8,035,639$0$0$3,407,378
88$8,771,740$0$0$3,722,285
89$9,580,291$0$0$4,068,284
90$10,468,601$0$0$4,448,514
91$11,444,719$0$0$4,866,434
92$12,517,512$0$0$5,325,852
93$13,696,752$0$0$5,830,967
94$14,993,201$0$0$6,386,403
95$16,418,719$0$0$6,997,255
96$17,986,371$0$0$7,669,136
97$19,710,550$0$0$8,408,231
98$21,607,117$0$0$9,221,354
99$23,693,546$0$0$10,116,013
100$25,989,089$0$0$11,100,481