Can I retire at age 53 with 588,000?

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 $588,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.4%
1 years$48,556$48,124$47,702$47,290$46,888$46,035
2 years$24,038$23,590$23,156$22,736$22,328$21,472
3 years$15,866$15,416$14,984$14,567$14,166$13,333
4 years$11,781$11,333$10,904$10,495$10,103$9,300
5 years$9,331$8,885$8,462$8,061$7,680$6,909
6 years$7,697$7,255$6,839$6,446$6,077$5,339
7 years$6,531$6,093$5,683$5,300$4,942$4,238
8 years$5,657$5,223$4,820$4,446$4,100$3,428
9 years$4,978$4,547$4,151$3,787$3,453$2,814
10 years$4,434$4,008$3,619$3,264$2,942$2,335
11 years$3,990$3,568$3,186$2,841$2,530$1,954
12 years$3,620$3,203$2,828$2,492$2,193$1,647
13 years$3,308$2,894$2,526$2,200$1,912$1,396
14 years$3,040$2,631$2,270$1,953$1,676$1,189
15 years$2,808$2,403$2,049$1,742$1,476$1,016
16 years$2,605$2,205$1,858$1,559$1,304$872
17 years$2,426$2,031$1,691$1,401$1,156$749
18 years$2,268$1,877$1,543$1,263$1,028$646
19 years$2,126$1,739$1,413$1,141$917$558
20 years$1,998$1,616$1,297$1,033$819$482
21 years$1,883$1,505$1,193$938$733$418
22 years$1,779$1,405$1,099$853$657$362
23 years$1,683$1,314$1,015$777$589$315
24 years$1,596$1,231$939$708$530$273
25 years$1,516$1,156$869$647$477$238
26 years$1,442$1,086$806$591$429$207
27 years$1,374$1,022$749$541$387$180
28 years$1,311$963$696$496$349$157
29 years$1,252$909$648$455$315$137
30 years$1,197$858$603$417$285$119
31 years$1,146$811$563$383$258$104
32 years$1,098$768$525$352$233$91
33 years$1,053$727$490$324$211$79
34 years$1,011$689$458$298$191$69
35 years$971$653$428$274$173$60
36 years$934$620$400$253$157$53
37 years$899$589$375$233$142$46
38 years$865$560$351$215$129$40
39 years$834$532$329$198$117$35
40 years$804$506$308$183$106$31
41 years$776$482$289$168$96$27
42 years$749$459$271$155$87$23
43 years$723$437$254$143$79$20
44 years$699$417$239$132$72$18
45 years$675$398$224$122$65$16
46 years$653$379$211$113$59$14
47 years$632$362$198$104$54$12
48 years$612$346$186$96$49$10
49 years$593$330$175$89$44$9
50 years$574$315$164$82$40$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $588,000, adding $2,820 every year, while hoping to spend $36,139 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: 63/13/24 Blend
52$588,000$588,000$588,000$588,000
53$650,885$619,721$610,607$687,621
54$678,823$611,636$592,611$704,705
55$708,401$601,943$572,800$719,099
56$739,745$590,526$551,077$734,013
57$772,998$577,261$527,337$749,503
58$808,314$562,016$501,472$765,632
59$845,860$544,653$473,370$782,469
60$885,822$525,026$442,912$800,092
61$928,401$502,977$409,975$818,591
62$973,818$478,343$374,429$838,065
63$1,022,316$450,950$336,141$858,624
64$1,074,159$420,613$294,968$880,393
65$1,129,638$387,138$250,765$903,511
66$1,189,073$350,319$203,377$928,133
67$1,252,812$309,939$152,644$954,433
68$1,321,240$265,768$98,399$982,604
69$1,394,778$217,562$40,467$1,012,862
70$1,473,889$165,065$0$1,045,449
71$1,559,079$108,007$0$1,086,101
72$1,650,906$46,100$0$1,141,063
73$1,749,983$0$0$1,200,346
74$1,856,983$0$0$1,267,369
75$1,972,644$0$0$1,346,979
76$2,097,779$0$0$1,433,145
77$2,233,282$0$0$1,526,487
78$2,380,134$0$0$1,627,685
79$2,539,416$0$0$1,737,488
80$2,712,314$0$0$1,856,720
81$2,900,135$0$0$1,986,287
82$3,104,316$0$0$2,127,186
83$3,326,436$0$0$2,280,513
84$3,568,236$0$0$2,447,475
85$3,831,628$0$0$2,629,398
86$4,118,717$0$0$2,827,744
87$4,431,823$0$0$3,044,122
88$4,773,494$0$0$3,280,300
89$5,146,539$0$0$3,538,228
90$5,554,049$0$0$3,820,049
91$5,999,425$0$0$4,128,125
92$6,486,414$0$0$4,465,055
93$7,019,139$0$0$4,833,701
94$7,602,143$0$0$5,237,216
95$8,240,425$0$0$5,679,069
96$8,939,492$0$0$6,163,083
97$9,705,408$0$0$6,693,465
98$10,544,851$0$0$7,274,852
99$11,465,177$0$0$7,912,348
100$12,474,485$0$0$8,611,575