Can I retire at age 53 with 601,000?

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 $601,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.6%
1 years$49,630$49,188$48,757$48,336$47,925$46,823
2 years$24,569$24,112$23,668$23,238$22,821$21,718
3 years$16,217$15,757$15,315$14,889$14,479$13,407
4 years$12,041$11,583$11,145$10,727$10,326$9,296
5 years$9,537$9,081$8,649$8,239$7,850$6,863
6 years$7,868$7,416$6,990$6,589$6,211$5,269
7 years$6,676$6,228$5,809$5,417$5,052$4,153
8 years$5,782$5,338$4,926$4,544$4,191$3,337
9 years$5,088$4,648$4,243$3,871$3,529$2,719
10 years$4,533$4,097$3,699$3,337$3,007$2,239
11 years$4,078$3,647$3,257$2,904$2,586$1,860
12 years$3,700$3,274$2,890$2,547$2,241$1,556
13 years$3,381$2,958$2,582$2,249$1,954$1,308
14 years$3,107$2,689$2,320$1,996$1,713$1,105
15 years$2,870$2,456$2,095$1,780$1,508$937
16 years$2,663$2,254$1,899$1,594$1,333$797
17 years$2,480$2,076$1,728$1,432$1,182$679
18 years$2,318$1,918$1,578$1,291$1,051$580
19 years$2,173$1,778$1,444$1,166$937$497
20 years$2,043$1,652$1,325$1,056$837$426
21 years$1,925$1,539$1,219$959$749$365
22 years$1,818$1,436$1,124$872$671$314
23 years$1,721$1,343$1,037$794$602$270
24 years$1,631$1,259$959$724$542$232
25 years$1,549$1,181$889$661$487$200
26 years$1,474$1,110$824$605$439$173
27 years$1,404$1,045$765$553$396$149
28 years$1,339$984$711$507$357$128
29 years$1,279$929$662$465$322$111
30 years$1,223$877$617$427$291$96
31 years$1,171$829$575$392$263$83
32 years$1,122$784$536$360$238$71
33 years$1,076$743$501$331$216$62
34 years$1,033$704$468$305$195$53
35 years$993$668$438$281$177$46
36 years$955$634$409$258$160$40
37 years$918$602$383$238$145$34
38 years$884$572$359$219$132$30
39 years$852$544$336$202$119$26
40 years$822$518$315$187$108$22
41 years$793$493$295$172$98$19
42 years$765$469$277$159$89$17
43 years$739$447$260$147$81$14
44 years$714$426$244$135$73$12
45 years$690$406$229$125$67$11
46 years$668$388$215$116$61$9
47 years$646$370$202$107$55$8
48 years$625$353$190$99$50$7
49 years$606$337$179$91$45$6
50 years$587$322$168$84$41$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $601,000, adding $2,374 every year, while hoping to spend $32,906 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: 39/47/14 Blend
52$601,000$601,000$601,000$601,000
53$664,751$632,898$623,582$687,795
54$697,544$628,898$609,461$700,402
55$732,578$623,599$593,763$710,650
56$770,049$616,904$576,402$721,018
57$810,169$608,706$557,286$731,532
58$853,170$598,897$536,319$742,225
59$899,309$587,358$513,401$753,134
60$948,866$573,966$488,427$764,303
61$1,002,149$558,590$461,288$775,785
62$1,059,497$541,089$431,870$787,640
63$1,121,281$521,318$400,054$799,938
64$1,187,909$499,120$365,713$812,758
65$1,259,829$474,331$328,718$826,195
66$1,337,534$446,775$288,932$840,353
67$1,421,565$416,269$246,213$855,355
68$1,512,516$382,618$200,413$871,337
69$1,611,042$345,615$151,376$888,458
70$1,717,861$305,043$98,940$906,895
71$1,833,764$260,672$42,936$926,851
72$1,959,621$212,258$0$948,553
73$2,096,388$159,544$0$974,774
74$2,245,117$102,259$0$1,010,298
75$2,406,966$40,116$0$1,049,061
76$2,583,207$0$0$1,091,460
77$2,775,244$0$0$1,152,002
78$2,984,618$0$0$1,240,703
79$3,213,026$0$0$1,337,544
80$3,462,337$0$0$1,443,328
81$3,734,607$0$0$1,558,936
82$4,032,101$0$0$1,685,340
83$4,357,312$0$0$1,823,610
84$4,712,983$0$0$1,974,924
85$5,102,136$0$0$2,140,580
86$5,528,097$0$0$2,322,005
87$5,994,532$0$0$2,520,773
88$6,505,474$0$0$2,738,615
89$7,065,366$0$0$2,977,441
90$7,679,102$0$0$3,239,350
91$8,352,071$0$0$3,526,658
92$9,090,208$0$0$3,841,913
93$9,900,051$0$0$4,187,924
94$10,788,801$0$0$4,567,783
95$11,764,390$0$0$4,984,897
96$12,835,556$0$0$5,443,020
97$14,011,924$0$0$5,946,286
98$15,304,096$0$0$6,499,249
99$16,723,753$0$0$7,106,928
100$18,283,763$0$0$7,774,850