Can I retire at age 53 with 601,000?

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 $601,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.4%
1 years$49,630$49,188$48,757$48,336$47,925$46,114
2 years$24,569$24,112$23,668$23,238$22,821$21,018
3 years$16,217$15,757$15,315$14,889$14,479$12,740
4 years$12,041$11,583$11,145$10,727$10,326$8,665
5 years$9,537$9,081$8,649$8,239$7,850$6,270
6 years$7,868$7,416$6,990$6,589$6,211$4,715
7 years$6,676$6,228$5,809$5,417$5,052$3,637
8 years$5,782$5,338$4,926$4,544$4,191$2,857
9 years$5,088$4,648$4,243$3,871$3,529$2,275
10 years$4,533$4,097$3,699$3,337$3,007$1,830
11 years$4,078$3,647$3,257$2,904$2,586$1,483
12 years$3,700$3,274$2,890$2,547$2,241$1,210
13 years$3,381$2,958$2,582$2,249$1,954$991
14 years$3,107$2,689$2,320$1,996$1,713$816
15 years$2,870$2,456$2,095$1,780$1,508$673
16 years$2,663$2,254$1,899$1,594$1,333$557
17 years$2,480$2,076$1,728$1,432$1,182$462
18 years$2,318$1,918$1,578$1,291$1,051$384
19 years$2,173$1,778$1,444$1,166$937$319
20 years$2,043$1,652$1,325$1,056$837$266
21 years$1,925$1,539$1,219$959$749$221
22 years$1,818$1,436$1,124$872$671$185
23 years$1,721$1,343$1,037$794$602$154
24 years$1,631$1,259$959$724$542$129
25 years$1,549$1,181$889$661$487$108
26 years$1,474$1,110$824$605$439$90
27 years$1,404$1,045$765$553$396$75
28 years$1,339$984$711$507$357$63
29 years$1,279$929$662$465$322$53
30 years$1,223$877$617$427$291$44
31 years$1,171$829$575$392$263$37
32 years$1,122$784$536$360$238$31
33 years$1,076$743$501$331$216$26
34 years$1,033$704$468$305$195$22
35 years$993$668$438$281$177$18
36 years$955$634$409$258$160$15
37 years$918$602$383$238$145$13
38 years$884$572$359$219$132$11
39 years$852$544$336$202$119$9
40 years$822$518$315$187$108$7
41 years$793$493$295$172$98$6
42 years$765$469$277$159$89$5
43 years$739$447$260$147$81$4
44 years$714$426$244$135$73$4
45 years$690$406$229$125$67$3
46 years$668$388$215$116$61$3
47 years$646$370$202$107$55$2
48 years$625$353$190$99$50$2
49 years$606$337$179$91$45$2
50 years$587$322$168$84$41$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $601,000, adding $6,706 every year, while hoping to spend $35,048 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: 45/33/22 Blend
52$601,000$601,000$601,000$601,000
53$669,219$637,366$628,051$694,822
54$700,189$631,306$611,800$707,457
55$733,143$623,775$593,829$717,188
56$768,246$614,663$574,046$727,027
57$805,680$603,854$552,349$737,003
58$845,643$591,227$528,637$747,147
59$888,353$576,651$502,800$757,499
60$934,047$559,989$474,726$768,103
61$982,988$541,096$444,297$779,012
62$1,035,460$519,818$411,389$790,286
63$1,091,780$495,992$375,873$801,997
64$1,152,291$469,445$337,614$814,223
65$1,217,373$439,996$296,472$827,059
66$1,287,440$407,451$252,300$840,611
67$1,362,950$371,607$204,943$855,000
68$1,444,405$332,249$154,242$870,363
69$1,532,354$289,150$100,029$886,856
70$1,627,404$242,068$42,130$904,658
71$1,730,219$190,749$0$923,969
72$1,841,531$134,926$0$949,630
73$1,962,145$74,314$0$988,136
74$2,092,943$8,615$0$1,029,922
75$2,234,898$0$0$1,075,359
76$2,389,080$0$0$1,147,554
77$2,556,665$0$0$1,229,487
78$2,738,946$0$0$1,318,672
79$2,937,347$0$0$1,415,813
80$3,153,434$0$0$1,521,684
81$3,388,931$0$0$1,637,141
82$3,645,735$0$0$1,763,122
83$3,925,934$0$0$1,900,662
84$4,231,826$0$0$2,050,898
85$4,565,940$0$0$2,215,084
86$4,931,061$0$0$2,394,599
87$5,330,256$0$0$2,590,962
88$5,766,900$0$0$2,805,845
89$6,244,709$0$0$3,041,092
90$6,767,777$0$0$3,298,728
91$7,340,611$0$0$3,580,987
92$7,968,173$0$0$3,890,330
93$8,655,929$0$0$4,229,464
94$9,409,898$0$0$4,601,372
95$10,236,711$0$0$5,009,342
96$11,143,670$0$0$5,456,991
97$12,138,817$0$0$5,948,306
98$13,231,012$0$0$6,487,678
99$14,430,012$0$0$7,079,945
100$15,746,568$0$0$7,730,434