Can I retire at age 53 with 602,000?

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 $602,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.3%
1 years$49,713$49,270$48,838$48,416$48,004$46,209
2 years$24,610$24,152$23,708$23,277$22,859$21,071
3 years$16,244$15,784$15,340$14,914$14,503$12,778
4 years$12,061$11,603$11,164$10,745$10,344$8,695
5 years$9,553$9,097$8,664$8,253$7,863$6,296
6 years$7,881$7,428$7,002$6,600$6,222$4,736
7 years$6,687$6,238$5,818$5,426$5,060$3,656
8 years$5,792$5,347$4,934$4,552$4,198$2,874
9 years$5,096$4,656$4,250$3,877$3,535$2,290
10 years$4,540$4,104$3,705$3,342$3,012$1,843
11 years$4,085$3,653$3,262$2,909$2,590$1,495
12 years$3,707$3,279$2,895$2,551$2,245$1,220
13 years$3,386$2,963$2,586$2,252$1,958$1,000
14 years$3,112$2,694$2,324$1,999$1,716$824
15 years$2,875$2,461$2,098$1,783$1,511$680
16 years$2,667$2,258$1,902$1,597$1,335$563
17 years$2,484$2,079$1,731$1,435$1,184$467
18 years$2,322$1,921$1,580$1,293$1,053$388
19 years$2,177$1,781$1,447$1,168$938$323
20 years$2,046$1,655$1,328$1,058$838$269
21 years$1,928$1,541$1,221$960$750$225
22 years$1,821$1,439$1,125$873$672$188
23 years$1,723$1,346$1,039$795$604$157
24 years$1,634$1,261$961$725$542$131
25 years$1,552$1,183$890$662$488$110
26 years$1,476$1,112$826$606$440$92
27 years$1,407$1,046$767$554$396$77
28 years$1,342$986$713$508$358$64
29 years$1,282$930$663$466$323$54
30 years$1,225$878$618$427$292$45
31 years$1,173$830$576$393$264$38
32 years$1,124$786$537$361$239$32
33 years$1,078$744$502$332$216$26
34 years$1,035$705$469$305$196$22
35 years$994$669$438$281$177$19
36 years$956$635$410$259$160$16
37 years$920$603$384$238$145$13
38 years$886$573$359$220$132$11
39 years$854$545$337$203$120$9
40 years$823$518$316$187$108$8
41 years$794$494$296$172$98$6
42 years$766$470$278$159$89$5
43 years$740$448$260$147$81$5
44 years$715$427$244$136$74$4
45 years$691$407$230$125$67$3
46 years$669$388$216$116$61$3
47 years$647$371$203$107$55$2
48 years$626$354$190$99$50$2
49 years$607$338$179$91$45$2
50 years$588$323$168$84$41$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $602,000, adding $5,369 every year, while hoping to spend $20,469 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: 50/27/23 Blend
52$602,000$602,000$602,000$602,000
53$668,942$637,036$627,705$697,825
54$715,395$646,472$626,954$727,880
55$765,901$655,684$625,492$758,019
56$820,850$664,640$623,274$790,357
57$880,674$673,305$620,251$825,108
58$945,848$681,642$616,374$862,512
59$1,016,892$689,610$611,591$902,833
60$1,094,382$697,168$605,846$946,363
61$1,178,950$704,270$599,082$993,423
62$1,271,291$710,867$591,239$1,044,368
63$1,372,171$716,908$582,255$1,099,592
64$1,482,434$722,339$572,062$1,159,528
65$1,603,009$727,100$560,593$1,224,654
66$1,734,918$731,129$547,774$1,295,499
67$1,879,286$734,361$533,531$1,372,647
68$2,037,352$736,724$517,784$1,456,742
69$2,210,483$738,144$500,450$1,548,495
70$2,400,180$738,541$481,443$1,648,691
71$2,608,099$737,831$460,673$1,758,197
72$2,836,064$735,923$438,044$1,877,970
73$3,086,083$732,724$413,459$2,009,066
74$3,360,367$728,130$386,813$2,152,651
75$3,661,352$722,036$357,999$2,310,010
76$3,991,722$714,328$326,903$2,482,564
77$4,354,432$704,885$293,409$2,671,878
78$4,752,738$693,578$257,393$2,879,682
79$5,190,228$680,274$218,726$3,107,884
80$5,670,852$664,828$177,274$3,358,587
81$6,198,963$647,089$132,897$3,634,113
82$6,779,356$626,896$85,448$3,937,026
83$7,417,315$604,078$34,775$4,270,151
84$8,118,659$578,456$0$4,636,606
85$8,889,801$549,839$0$5,044,569
86$9,737,805$518,025$0$5,502,511
87$10,670,455$482,802$0$6,006,118
88$11,696,325$443,943$0$6,560,050
89$12,824,865$401,212$0$7,169,446
90$14,066,486$354,355$0$7,839,971
91$15,432,656$303,107$0$8,577,868
92$16,936,014$247,186$0$9,390,022
93$18,590,485$186,296$0$10,284,020
94$20,411,413$120,123$0$11,268,228
95$22,415,703$48,336$0$12,351,867
96$24,621,985$0$0$13,545,100
97$27,050,783$0$0$14,867,874
98$29,724,715$0$0$16,340,042
99$32,668,704$0$0$17,960,974
100$35,910,209$0$0$19,745,800