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%19.6%
1 years$51,447$50,988$50,541$50,105$49,679$47,764
2 years$25,469$24,994$24,535$24,089$23,657$21,751
3 years$16,810$16,334$15,876$15,434$15,009$13,171
4 years$12,482$12,007$11,553$11,119$10,704$8,949
5 years$9,886$9,414$8,966$8,541$8,137$6,469
6 years$8,156$7,687$7,246$6,830$6,439$4,859
7 years$6,920$6,456$6,021$5,615$5,236$3,744
8 years$5,994$5,534$5,106$4,711$4,344$2,938
9 years$5,274$4,818$4,398$4,012$3,658$2,336
10 years$4,698$4,247$3,834$3,459$3,117$1,877
11 years$4,228$3,781$3,376$3,010$2,681$1,519
12 years$3,836$3,393$2,996$2,640$2,323$1,237
13 years$3,504$3,067$2,677$2,331$2,026$1,013
14 years$3,221$2,787$2,405$2,069$1,776$832
15 years$2,975$2,546$2,171$1,845$1,564$686
16 years$2,760$2,336$1,969$1,652$1,382$566
17 years$2,571$2,152$1,791$1,485$1,225$469
18 years$2,403$1,988$1,635$1,338$1,089$389
19 years$2,252$1,843$1,497$1,209$971$323
20 years$2,117$1,712$1,374$1,095$867$269
21 years$1,995$1,595$1,264$994$776$223
22 years$1,885$1,489$1,165$903$696$186
23 years$1,784$1,392$1,075$823$625$155
24 years$1,691$1,305$995$750$561$129
25 years$1,606$1,224$921$685$505$108
26 years$1,528$1,151$854$627$455$90
27 years$1,456$1,083$793$574$410$75
28 years$1,389$1,020$738$526$370$63
29 years$1,326$963$686$482$334$52
30 years$1,268$909$639$442$302$44
31 years$1,214$859$596$406$273$37
32 years$1,163$813$556$373$247$31
33 years$1,116$770$519$343$224$26
34 years$1,071$730$485$316$202$21
35 years$1,029$692$454$291$183$18
36 years$989$657$424$268$166$15
37 years$952$624$397$247$151$12
38 years$917$593$372$227$136$10
39 years$883$564$348$210$124$9
40 years$852$537$327$193$112$7
41 years$822$511$306$178$102$6
42 years$793$486$287$165$92$5
43 years$766$463$270$152$84$4
44 years$740$442$253$140$76$4
45 years$716$421$238$130$69$3
46 years$692$402$223$120$63$2
47 years$670$384$210$111$57$2
48 years$648$366$197$102$52$2
49 years$628$350$185$94$47$1
50 years$608$334$174$87$43$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $623,000, adding $3,449 every year, while hoping to spend $27,024 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: 43/38/19 Blend
52$623,000$623,000$623,000$623,000
53$690,104$657,085$647,428$715,827
54$731,741$660,528$640,364$737,767
55$776,719$663,235$632,157$758,610
56$825,351$665,141$622,741$780,630
57$877,980$666,175$612,046$803,947
58$934,983$666,267$599,998$828,698
59$996,775$665,338$586,522$855,033
60$1,063,812$663,305$571,536$883,119
61$1,136,596$660,082$554,957$913,143
62$1,215,678$655,576$536,698$945,313
63$1,301,666$649,688$516,666$979,858
64$1,395,228$642,314$494,766$1,017,036
65$1,497,097$633,344$470,897$1,057,130
66$1,608,084$622,660$444,955$1,100,457
67$1,729,077$610,139$416,829$1,147,367
68$1,861,055$595,648$386,406$1,198,249
69$2,005,098$579,050$353,565$1,253,536
70$2,162,390$560,195$318,182$1,313,706
71$2,334,239$538,930$280,125$1,379,291
72$2,522,081$515,088$239,260$1,450,879
73$2,727,501$488,494$195,442$1,529,124
74$2,952,240$458,965$148,524$1,614,747
75$3,198,219$426,305$98,350$1,708,551
76$3,467,551$390,307$44,758$1,811,423
77$3,762,563$350,753$0$1,924,346
78$4,085,817$307,413$0$2,050,928
79$4,440,136$260,043$0$2,199,700
80$4,828,630$208,384$0$2,362,949
81$5,254,721$152,166$0$2,542,188
82$5,722,181$91,101$0$2,739,090
83$6,235,164$24,885$0$2,955,501
84$6,798,245$0$0$3,193,463
85$7,416,463$0$0$3,474,798
86$8,095,370$0$0$3,795,258
87$8,841,083$0$0$4,147,336
88$9,660,337$0$0$4,534,222
89$10,560,556$0$0$4,959,432
90$11,549,915$0$0$5,426,839
91$12,637,423$0$0$5,940,710
92$13,833,003$0$0$6,505,746
93$15,147,589$0$0$7,127,127
94$16,593,227$0$0$7,810,560
95$18,183,189$0$0$8,562,331
96$19,932,096$0$0$9,389,369
97$21,856,059$0$0$10,299,305
98$23,972,830$0$0$11,300,550
99$26,301,967$0$0$12,402,369
100$28,865,018$0$0$13,614,973