Can I retire at age 53 with 593,000?

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 $593,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$48,969$48,533$48,108$47,692$47,287$46,715
2 years$24,242$23,791$23,353$22,929$22,517$21,942
3 years$16,001$15,548$15,111$14,691$14,286$13,725
4 years$11,881$11,429$10,997$10,584$10,189$9,646
5 years$9,410$8,961$8,534$8,129$7,745$7,223
6 years$7,763$7,317$6,897$6,501$6,129$5,627
7 years$6,587$6,145$5,731$5,345$4,984$4,504
8 years$5,705$5,267$4,861$4,484$4,135$3,675
9 years$5,020$4,586$4,186$3,819$3,482$3,043
10 years$4,472$4,042$3,650$3,292$2,967$2,548
11 years$4,024$3,599$3,213$2,865$2,552$2,153
12 years$3,651$3,230$2,852$2,513$2,211$1,832
13 years$3,336$2,919$2,548$2,219$1,928$1,569
14 years$3,066$2,653$2,289$1,970$1,690$1,349
15 years$2,832$2,424$2,067$1,756$1,488$1,165
16 years$2,627$2,224$1,874$1,573$1,315$1,010
17 years$2,447$2,048$1,705$1,413$1,166$878
18 years$2,287$1,892$1,557$1,273$1,037$765
19 years$2,144$1,754$1,425$1,151$924$668
20 years$2,015$1,630$1,308$1,042$826$584
21 years$1,899$1,518$1,203$946$739$512
22 years$1,794$1,417$1,109$860$662$449
23 years$1,698$1,325$1,024$783$594$394
24 years$1,610$1,242$947$714$534$346
25 years$1,529$1,165$877$652$481$305
26 years$1,454$1,095$813$596$433$268
27 years$1,385$1,031$755$546$390$237
28 years$1,322$971$702$500$352$209
29 years$1,262$916$653$459$318$184
30 years$1,207$865$609$421$287$162
31 years$1,155$818$567$387$260$143
32 years$1,107$774$529$355$235$127
33 years$1,062$733$494$327$213$112
34 years$1,019$695$462$301$193$99
35 years$979$659$432$277$174$88
36 years$942$625$404$255$158$77
37 years$906$594$378$235$143$68
38 years$873$565$354$216$130$61
39 years$841$537$332$200$118$54
40 years$811$511$311$184$107$47
41 years$782$486$291$170$97$42
42 years$755$463$273$157$88$37
43 years$729$441$257$145$80$33
44 years$705$421$241$134$72$29
45 years$681$401$226$123$66$26
46 years$659$383$212$114$60$23
47 years$637$365$200$105$54$20
48 years$617$348$188$97$49$18
49 years$598$333$176$90$45$16
50 years$579$318$166$83$41$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $593,000, adding $5,248 every year, while hoping to spend $41,718 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: 20/50/30 Blend
52$593,000$593,000$593,000$593,000
53$658,899$627,470$618,279$665,729
54$681,719$613,829$594,604$659,000
55$705,469$598,120$568,737$648,052
56$730,199$580,200$540,561$635,447
57$755,963$559,914$509,955$621,078
58$782,821$537,100$476,788$604,832
59$810,836$511,585$440,927$586,592
60$840,075$483,186$402,232$566,234
61$870,612$451,712$360,557$543,627
62$902,528$416,959$315,748$518,636
63$935,906$378,710$267,646$491,115
64$970,841$336,739$216,085$460,916
65$1,007,432$290,805$160,889$427,880
66$1,045,789$240,654$101,878$391,841
67$1,086,030$186,016$38,861$352,626
68$1,128,283$126,609$0$310,052
69$1,172,687$62,132$0$273,018
70$1,219,394$0$0$246,101
71$1,268,569$0$0$220,964
72$1,320,390$0$0$230,538
73$1,375,054$0$0$240,681
74$1,432,773$0$0$251,438
75$1,493,779$0$0$262,857
76$1,558,326$0$0$274,992
77$1,626,691$0$0$287,903
78$1,699,175$0$0$301,654
79$1,776,110$0$0$316,316
80$1,857,856$0$0$331,966
81$1,944,808$0$0$348,689
82$2,037,400$0$0$366,577
83$2,136,103$0$0$385,734
84$2,241,437$0$0$406,270
85$2,353,970$0$0$428,309
86$2,474,325$0$0$451,984
87$2,603,183$0$0$477,443
88$2,741,294$0$0$504,850
89$2,889,479$0$0$534,381
90$3,048,639$0$0$566,232
91$3,219,763$0$0$600,618
92$3,403,936$0$0$637,776
93$3,602,352$0$0$677,965
94$3,816,319$0$0$721,469
95$4,047,276$0$0$768,603
96$4,296,805$0$0$819,712
97$4,566,641$0$0$875,174
98$4,858,695$0$0$935,406
99$5,175,066$0$0$1,000,868
100$5,518,061$0$0$1,072,063