Can I retire at age 53 with 598,000?

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 $598,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.2%
1 years$49,382$48,942$48,513$48,094$47,685$45,920
2 years$24,447$23,991$23,550$23,122$22,707$20,949
3 years$16,136$15,679$15,238$14,815$14,406$12,710
4 years$11,981$11,525$11,090$10,673$10,275$8,654
5 years$9,489$9,036$8,606$8,198$7,811$6,269
6 years$7,828$7,379$6,955$6,556$6,180$4,719
7 years$6,643$6,197$5,780$5,390$5,026$3,644
8 years$5,754$5,312$4,902$4,522$4,170$2,867
9 years$5,062$4,625$4,222$3,851$3,512$2,285
10 years$4,510$4,076$3,681$3,320$2,992$1,840
11 years$4,058$3,629$3,240$2,889$2,573$1,494
12 years$3,682$3,257$2,876$2,534$2,230$1,220
13 years$3,364$2,944$2,569$2,237$1,945$1,001
14 years$3,091$2,676$2,308$1,986$1,705$825
15 years$2,856$2,444$2,084$1,771$1,501$682
16 years$2,649$2,243$1,890$1,586$1,326$565
17 years$2,468$2,065$1,720$1,425$1,176$469
18 years$2,306$1,908$1,570$1,284$1,046$390
19 years$2,162$1,769$1,437$1,160$932$325
20 years$2,032$1,644$1,319$1,051$833$271
21 years$1,915$1,531$1,213$954$745$226
22 years$1,809$1,429$1,118$867$668$189
23 years$1,712$1,337$1,032$790$599$158
24 years$1,623$1,252$955$720$539$132
25 years$1,542$1,175$884$658$485$111
26 years$1,467$1,105$820$602$437$93
27 years$1,397$1,039$762$551$394$78
28 years$1,333$979$708$504$355$65
29 years$1,273$924$659$463$321$54
30 years$1,217$873$614$425$290$46
31 years$1,165$825$572$390$262$38
32 years$1,117$781$534$358$237$32
33 years$1,071$739$498$330$215$27
34 years$1,028$701$466$303$194$23
35 years$988$665$435$279$176$19
36 years$950$631$407$257$159$16
37 years$914$599$381$237$144$13
38 years$880$569$357$218$131$11
39 years$848$541$334$201$119$9
40 years$818$515$313$186$108$8
41 years$789$490$294$171$98$7
42 years$761$467$276$158$89$6
43 years$735$445$259$146$80$5
44 years$711$424$243$135$73$4
45 years$687$404$228$124$66$3
46 years$664$386$214$115$60$3
47 years$643$368$201$106$55$2
48 years$622$351$189$98$50$2
49 years$603$336$178$91$45$2
50 years$584$321$167$84$41$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $598,000, adding $5,070 every year, while hoping to spend $39,647 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: 48/28/24 Blend
52$598,000$598,000$598,000$598,000
53$664,226$632,532$623,263$691,360
54$689,793$621,342$601,958$699,666
55$716,639$608,274$578,611$704,331
56$744,852$593,196$553,110$708,598
57$774,530$575,966$525,342$712,448
58$805,776$556,432$495,186$715,862
59$838,705$534,437$462,514$718,822
60$873,441$509,813$427,197$721,313
61$910,120$482,381$389,095$723,320
62$948,889$451,955$348,067$724,830
63$989,909$418,334$303,961$725,834
64$1,033,357$381,310$256,620$726,323
65$1,079,424$340,659$205,882$726,294
66$1,128,322$296,147$151,575$725,747
67$1,180,279$247,527$93,521$724,685
68$1,235,547$194,535$31,534$723,120
69$1,294,400$136,895$0$721,068
70$1,357,142$74,315$0$727,415
71$1,424,100$6,487$0$742,524
72$1,495,636$0$0$758,404
73$1,572,147$0$0$795,783
74$1,654,067$0$0$837,987
75$1,741,872$0$0$883,269
76$1,836,084$0$0$931,902
77$1,937,277$0$0$984,191
78$2,046,079$0$0$1,040,466
79$2,163,183$0$0$1,101,092
80$2,289,346$0$0$1,166,467
81$2,425,401$0$0$1,237,033
82$2,572,264$0$0$1,313,272
83$2,730,940$0$0$1,395,714
84$2,902,534$0$0$1,484,942
85$3,088,263$0$0$1,581,597
86$3,289,460$0$0$1,686,386
87$3,507,594$0$0$1,800,081
88$3,744,280$0$0$1,923,537
89$4,001,294$0$0$2,057,690
90$4,280,589$0$0$2,203,573
91$4,584,313$0$0$2,362,319
92$4,914,831$0$0$2,535,178
93$5,274,744$0$0$2,723,524
94$5,666,914$0$0$2,928,868
95$6,094,491$0$0$3,152,875
96$6,560,942$0$0$3,397,376
97$7,070,082$0$0$3,664,389
98$7,626,113$0$0$3,956,131
99$8,233,657$0$0$4,275,048
100$8,897,805$0$0$4,623,829