Can I retire at age 53 with 616,000?

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 $616,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$50,869$50,416$49,974$49,542$49,121$48,689
2 years$25,183$24,714$24,259$23,818$23,391$22,956
3 years$16,622$16,151$15,697$15,261$14,840$14,415
4 years$12,342$11,872$11,424$10,994$10,584$10,172
5 years$9,775$9,308$8,865$8,445$8,046$7,649
6 years$8,064$7,601$7,164$6,753$6,366$5,985
7 years$6,842$6,383$5,954$5,552$5,178$4,811
8 years$5,927$5,471$5,049$4,658$4,295$3,944
9 years$5,215$4,764$4,349$3,967$3,617$3,281
10 years$4,646$4,199$3,791$3,420$3,082$2,761
11 years$4,180$3,738$3,338$2,976$2,651$2,344
12 years$3,793$3,355$2,962$2,611$2,297$2,005
13 years$3,465$3,032$2,647$2,305$2,003$1,725
14 years$3,184$2,756$2,378$2,046$1,756$1,492
15 years$2,942$2,518$2,147$1,825$1,546$1,296
16 years$2,729$2,310$1,947$1,634$1,366$1,129
17 years$2,542$2,127$1,771$1,468$1,212$987
18 years$2,376$1,966$1,617$1,323$1,077$865
19 years$2,227$1,822$1,480$1,195$960$759
20 years$2,094$1,693$1,359$1,083$858$668
21 years$1,973$1,577$1,250$983$767$589
22 years$1,863$1,472$1,152$893$688$520
23 years$1,764$1,377$1,063$814$618$459
24 years$1,672$1,290$983$742$555$406
25 years$1,588$1,211$911$678$499$360
26 years$1,511$1,138$845$620$450$319
27 years$1,439$1,071$784$567$406$283
28 years$1,373$1,009$729$520$366$251
29 years$1,311$952$679$477$330$223
30 years$1,254$899$632$437$299$198
31 years$1,200$850$589$402$270$176
32 years$1,150$804$550$369$244$156
33 years$1,103$761$513$339$221$139
34 years$1,059$722$480$312$200$124
35 years$1,017$685$448$288$181$110
36 years$978$650$420$265$164$98
37 years$941$617$393$244$149$87
38 years$907$586$368$225$135$78
39 years$873$558$345$207$122$69
40 years$842$531$323$191$111$62
41 years$812$505$303$176$101$55
42 years$784$481$284$163$91$49
43 years$757$458$267$150$83$44
44 years$732$437$250$139$75$39
45 years$708$417$235$128$68$35
46 years$684$397$221$118$62$31
47 years$662$379$207$109$56$28
48 years$641$362$195$101$51$25
49 years$621$346$183$93$46$22
50 years$601$330$172$86$42$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $616,000, adding $2,581 every year, while hoping to spend $42,041 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: 50/31/19 Blend
52$616,000$616,000$616,000$616,000
53$681,494$648,846$639,298$711,844
54$706,275$635,908$615,983$720,152
55$732,175$620,928$590,479$724,645
56$759,263$603,759$562,666$728,632
57$787,615$584,251$532,422$732,079
58$817,313$562,239$499,619$734,956
59$848,444$537,555$464,122$737,227
60$881,105$510,015$425,790$738,860
61$915,401$479,429$384,477$739,821
62$951,444$445,593$340,029$740,077
63$989,358$408,293$292,286$739,594
64$1,029,276$367,303$241,081$738,340
65$1,071,344$322,383$186,240$736,282
66$1,115,722$273,280$127,579$733,392
67$1,162,581$219,727$64,909$729,638
68$1,212,112$161,441$0$724,996
69$1,264,519$98,124$0$719,840
70$1,320,029$29,460$0$727,820
71$1,378,886$0$0$735,788
72$1,441,359$0$0$759,089
73$1,507,742$0$0$794,560
74$1,578,356$0$0$832,328
75$1,653,553$0$0$872,585
76$1,733,717$0$0$915,542
77$1,819,270$0$0$961,430
78$1,910,674$0$0$1,010,503
79$2,008,435$0$0$1,063,038
80$2,113,109$0$0$1,119,339
81$2,225,303$0$0$1,179,741
82$2,345,685$0$0$1,244,610
83$2,474,989$0$0$1,314,349
84$2,614,018$0$0$1,389,399
85$2,763,656$0$0$1,470,245
86$2,924,871$0$0$1,557,420
87$3,098,729$0$0$1,651,509
88$3,286,399$0$0$1,753,154
89$3,489,167$0$0$1,863,063
90$3,708,445$0$0$1,982,013
91$3,945,787$0$0$2,110,855
92$4,202,898$0$0$2,250,530
93$4,481,656$0$0$2,402,070
94$4,784,123$0$0$2,566,609
95$5,112,571$0$0$2,745,396
96$5,469,495$0$0$2,939,805
97$5,857,642$0$0$3,151,347
98$6,280,033$0$0$3,381,684
99$6,739,993$0$0$3,632,645
100$7,241,179$0$0$3,906,244