Can I retire at age 53 with 424,000?

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 $424,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$35,014$34,702$34,397$34,100$33,810$33,020
2 years$17,333$17,011$16,698$16,394$16,100$15,308
3 years$11,441$11,117$10,805$10,504$10,215$9,446
4 years$8,495$8,172$7,863$7,568$7,285$6,546
5 years$6,728$6,407$6,102$5,813$5,538$4,830
6 years$5,551$5,232$4,931$4,648$4,382$3,706
7 years$4,710$4,394$4,098$3,822$3,564$2,920
8 years$4,079$3,766$3,475$3,206$2,957$2,344
9 years$3,589$3,279$2,993$2,731$2,490$1,909
10 years$3,198$2,890$2,610$2,354$2,121$1,572
11 years$2,877$2,573$2,298$2,049$1,825$1,305
12 years$2,611$2,309$2,039$1,797$1,581$1,090
13 years$2,385$2,087$1,822$1,586$1,379$916
14 years$2,192$1,897$1,637$1,408$1,209$773
15 years$2,025$1,733$1,478$1,256$1,064$655
16 years$1,878$1,590$1,340$1,125$940$557
17 years$1,750$1,464$1,219$1,010$834$474
18 years$1,635$1,353$1,113$911$741$405
19 years$1,533$1,254$1,019$823$661$346
20 years$1,441$1,165$935$745$590$297
21 years$1,358$1,085$860$676$528$254
22 years$1,283$1,013$793$615$474$218
23 years$1,214$948$732$560$425$188
24 years$1,151$888$677$511$382$161
25 years$1,093$833$627$466$344$139
26 years$1,040$783$581$426$310$120
27 years$991$737$540$390$279$103
28 years$945$694$502$358$252$89
29 years$903$655$467$328$227$77
30 years$863$619$435$301$206$66
31 years$826$585$406$276$186$57
32 years$792$553$378$254$168$49
33 years$759$524$353$234$152$42
34 years$729$497$330$215$138$37
35 years$700$471$309$198$125$32
36 years$673$447$289$182$113$27
37 years$648$425$270$168$102$24
38 years$624$404$253$155$93$20
39 years$601$384$237$143$84$18
40 years$580$365$222$132$76$15
41 years$559$348$208$121$69$13
42 years$540$331$195$112$63$11
43 years$521$315$183$103$57$10
44 years$504$301$172$96$52$8
45 years$487$287$162$88$47$7
46 years$471$274$152$81$43$6
47 years$456$261$143$75$39$5
48 years$441$249$134$70$35$5
49 years$427$238$126$64$32$4
50 years$414$227$118$59$29$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $424,000, adding $4,221 every year, while hoping to spend $26,679 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: 39/50/11 Blend
52$424,000$424,000$424,000$424,000
53$471,602$449,130$442,558$488,270
54$491,319$442,751$428,997$494,082
55$512,153$435,165$414,088$497,423
56$534,190$426,286$397,758$500,443
57$557,523$416,020$379,928$503,124
58$582,255$404,269$360,520$505,451
59$608,498$390,931$339,450$507,406
60$636,372$375,894$316,630$508,977
61$666,013$359,044$291,968$510,147
62$697,567$340,257$265,369$510,906
63$731,193$319,404$236,733$511,243
64$767,066$296,347$205,955$511,149
65$805,380$270,941$172,928$510,618
66$846,344$243,032$137,536$509,647
67$890,189$212,458$99,661$508,237
68$937,167$179,048$59,179$506,392
69$987,558$142,620$15,961$504,123
70$1,041,664$102,984$0$501,445
71$1,099,820$59,937$0$501,919
72$1,162,393$13,266$0$504,263
73$1,229,787$0$0$506,658
74$1,302,442$0$0$529,666
75$1,380,846$0$0$562,414
76$1,465,531$0$0$597,832
77$1,557,086$0$0$636,172
78$1,656,154$0$0$677,709
79$1,763,446$0$0$722,747
80$1,879,739$0$0$771,621
81$2,005,891$0$0$824,696
82$2,142,845$0$0$882,379
83$2,291,638$0$0$945,112
84$2,453,410$0$0$1,013,385
85$2,629,415$0$0$1,087,735
86$2,821,034$0$0$1,168,756
87$3,029,785$0$0$1,257,097
88$3,257,341$0$0$1,353,477
89$3,505,541$0$0$1,458,685
90$3,776,410$0$0$1,573,590
91$4,072,177$0$0$1,699,147
92$4,395,295$0$0$1,836,410
93$4,748,465$0$0$1,986,539
94$5,134,662$0$0$2,150,809
95$5,557,158$0$0$2,330,627
96$6,019,561$0$0$2,527,540
97$6,525,839$0$0$2,743,252
98$7,080,364$0$0$2,979,642
99$7,687,951$0$0$3,238,775
100$8,353,901$0$0$3,522,928