Can I retire at age 53 with 590,000?

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 $590,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.9%
1 years$48,722$48,288$47,864$47,451$47,047$45,181
2 years$24,120$23,670$23,235$22,813$22,404$20,546
3 years$15,920$15,469$15,035$14,616$14,214$12,424
4 years$11,821$11,371$10,941$10,530$10,137$8,429
5 years$9,362$8,915$8,491$8,088$7,706$6,083
6 years$7,724$7,280$6,862$6,468$6,098$4,561
7 years$6,554$6,114$5,702$5,318$4,959$3,509
8 years$5,677$5,241$4,836$4,461$4,114$2,748
9 years$4,995$4,563$4,165$3,800$3,465$2,182
10 years$4,450$4,022$3,631$3,276$2,952$1,749
11 years$4,004$3,580$3,197$2,851$2,539$1,413
12 years$3,633$3,214$2,837$2,500$2,200$1,149
13 years$3,319$2,904$2,535$2,208$1,919$938
14 years$3,050$2,640$2,278$1,960$1,682$769
15 years$2,817$2,412$2,056$1,748$1,481$632
16 years$2,614$2,213$1,864$1,565$1,309$521
17 years$2,435$2,038$1,697$1,406$1,160$431
18 years$2,275$1,883$1,549$1,267$1,032$356
19 years$2,133$1,745$1,418$1,145$920$295
20 years$2,005$1,622$1,301$1,037$821$245
21 years$1,890$1,510$1,197$941$735$203
22 years$1,785$1,410$1,103$856$659$169
23 years$1,689$1,319$1,018$779$591$141
24 years$1,602$1,236$942$711$532$117
25 years$1,521$1,159$872$649$478$97
26 years$1,447$1,090$809$593$431$81
27 years$1,378$1,026$751$543$389$67
28 years$1,315$966$698$498$351$56
29 years$1,256$912$650$456$317$47
30 years$1,201$861$605$419$286$39
31 years$1,150$814$564$385$259$33
32 years$1,102$770$527$354$234$27
33 years$1,057$729$492$325$212$23
34 years$1,014$691$459$299$192$19
35 years$975$656$430$275$174$16
36 years$937$622$402$254$157$13
37 years$902$591$376$234$143$11
38 years$868$562$352$215$129$9
39 years$837$534$330$199$117$8
40 years$807$508$309$183$106$6
41 years$778$484$290$169$96$5
42 years$751$461$272$156$88$4
43 years$725$439$255$144$79$4
44 years$701$418$240$133$72$3
45 years$678$399$225$123$65$3
46 years$655$381$211$113$59$2
47 years$634$363$199$105$54$2
48 years$614$347$187$97$49$1
49 years$595$331$175$89$45$1
50 years$576$316$165$83$40$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $590,000, adding $2,083 every year, while hoping to spend $45,936 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: 83/8/9 Blend
52$590,000$590,000$590,000$590,000
53$652,329$621,059$611,914$705,498
54$669,991$602,615$583,537$722,140
55$687,914$581,728$552,671$734,051
56$706,079$558,229$519,182$745,723
57$724,457$531,941$482,933$757,106
58$743,021$502,675$443,780$768,142
59$761,735$470,233$401,573$778,771
60$780,560$434,402$356,154$788,922
61$799,451$394,962$307,359$798,522
62$818,356$351,676$255,016$807,488
63$837,216$304,296$198,947$815,728
64$855,965$252,559$138,964$823,142
65$874,526$196,187$74,873$829,619
66$892,816$134,888$6,469$835,039
67$910,737$68,351$0$839,268
68$928,181$0$0$848,549
69$945,029$0$0$857,738
70$961,143$0$0$872,268
71$976,373$0$0$885,982
72$990,547$0$0$898,724
73$1,003,477$0$0$910,321
74$1,014,949$0$0$920,578
75$1,024,730$0$0$929,279
76$1,032,555$0$0$936,185
77$1,038,132$0$0$941,026
78$1,041,136$0$0$943,506
79$1,041,206$0$0$943,293
80$1,037,940$0$0$940,020
81$1,030,893$0$0$933,280
82$1,019,569$0$0$922,619
83$1,003,422$0$0$907,537
84$981,843$0$0$887,477
85$954,160$0$0$861,823
86$919,626$0$0$829,892
87$877,416$0$0$790,930
88$826,617$0$0$744,100
89$766,216$0$0$688,477
90$695,096$0$0$623,038
91$612,020$0$0$546,650
92$515,620$0$0$458,062
93$404,383$0$0$355,892
94$276,641$0$0$238,611
95$130,545$0$0$104,528
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0