Can I retire at age 53 with 623,000?

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 $623,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.3%
1 years$51,447$50,988$50,541$50,105$49,679$48,596
2 years$25,469$24,994$24,535$24,089$23,657$22,571
3 years$16,810$16,334$15,876$15,434$15,009$13,955
4 years$12,482$12,007$11,553$11,119$10,704$9,690
5 years$9,886$9,414$8,966$8,541$8,137$7,165
6 years$8,156$7,687$7,246$6,830$6,439$5,510
7 years$6,920$6,456$6,021$5,615$5,236$4,351
8 years$5,994$5,534$5,106$4,711$4,344$3,501
9 years$5,274$4,818$4,398$4,012$3,658$2,858
10 years$4,698$4,247$3,834$3,459$3,117$2,359
11 years$4,228$3,781$3,376$3,010$2,681$1,963
12 years$3,836$3,393$2,996$2,640$2,323$1,645
13 years$3,504$3,067$2,677$2,331$2,026$1,386
14 years$3,221$2,787$2,405$2,069$1,776$1,173
15 years$2,975$2,546$2,171$1,845$1,564$997
16 years$2,760$2,336$1,969$1,652$1,382$849
17 years$2,571$2,152$1,791$1,485$1,225$725
18 years$2,403$1,988$1,635$1,338$1,089$621
19 years$2,252$1,843$1,497$1,209$971$533
20 years$2,117$1,712$1,374$1,095$867$458
21 years$1,995$1,595$1,264$994$776$394
22 years$1,885$1,489$1,165$903$696$339
23 years$1,784$1,392$1,075$823$625$292
24 years$1,691$1,305$995$750$561$252
25 years$1,606$1,224$921$685$505$218
26 years$1,528$1,151$854$627$455$188
27 years$1,456$1,083$793$574$410$163
28 years$1,389$1,020$738$526$370$141
29 years$1,326$963$686$482$334$122
30 years$1,268$909$639$442$302$105
31 years$1,214$859$596$406$273$91
32 years$1,163$813$556$373$247$79
33 years$1,116$770$519$343$224$68
34 years$1,071$730$485$316$202$59
35 years$1,029$692$454$291$183$51
36 years$989$657$424$268$166$44
37 years$952$624$397$247$151$39
38 years$917$593$372$227$136$33
39 years$883$564$348$210$124$29
40 years$852$537$327$193$112$25
41 years$822$511$306$178$102$22
42 years$793$486$287$165$92$19
43 years$766$463$270$152$84$16
44 years$740$442$253$140$76$14
45 years$716$421$238$130$69$12
46 years$692$402$223$120$63$11
47 years$670$384$210$111$57$9
48 years$648$366$197$102$52$8
49 years$628$350$185$94$47$7
50 years$608$334$174$87$43$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $623,000, adding $3,630 every year, while hoping to spend $37,204 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: 56/36/8 Blend
52$623,000$623,000$623,000$623,000
53$690,290$657,271$647,615$727,459
54$721,115$649,893$629,725$745,571
55$753,837$640,906$609,989$760,836
56$788,611$630,192$588,306$776,556
57$825,604$617,627$564,570$792,781
58$865,003$603,078$538,670$809,565
59$907,009$586,404$510,490$826,970
60$951,843$567,457$479,911$845,067
61$999,748$546,080$446,805$863,937
62$1,050,990$522,106$411,041$883,669
63$1,105,861$495,359$372,481$904,365
64$1,164,681$465,653$330,981$926,142
65$1,227,799$432,791$286,390$949,129
66$1,295,602$396,565$238,551$973,472
67$1,368,512$356,755$187,301$999,335
68$1,446,992$313,128$132,468$1,026,902
69$1,531,552$265,439$73,872$1,056,381
70$1,622,752$213,427$11,329$1,088,003
71$1,721,207$156,818$0$1,122,029
72$1,827,591$95,323$0$1,163,478
73$1,942,647$28,636$0$1,209,286
74$2,067,191$0$0$1,258,867
75$2,202,120$0$0$1,329,902
76$2,348,420$0$0$1,419,271
77$2,507,176$0$0$1,516,298
78$2,679,580$0$0$1,621,718
79$2,866,944$0$0$1,736,339
80$3,070,713$0$0$1,861,052
81$3,292,473$0$0$1,996,835
82$3,533,971$0$0$2,144,766
83$3,797,131$0$0$2,306,029
84$4,084,068$0$0$2,481,930
85$4,397,111$0$0$2,673,905
86$4,738,823$0$0$2,883,534
87$5,112,026$0$0$3,112,557
88$5,519,826$0$0$3,362,889
89$5,965,641$0$0$3,636,641
90$6,453,238$0$0$3,936,133
91$6,986,762$0$0$4,263,923
92$7,570,777$0$0$4,622,826
93$8,210,309$0$0$5,015,943
94$8,910,894$0$0$5,446,688
95$9,678,628$0$0$5,918,820
96$10,520,223$0$0$6,436,483
97$11,443,073$0$0$7,004,236
98$12,455,323$0$0$7,627,104
99$13,565,941$0$0$8,310,620
100$14,784,808$0$0$9,060,879