Can I retire at age 53 with 656,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $656,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.5%
1 years$54,172$53,689$53,219$52,759$52,310$50,314
2 years$26,818$26,318$25,834$25,365$24,910$22,922
3 years$17,701$17,199$16,716$16,252$15,804$13,887
4 years$13,143$12,643$12,165$11,708$11,271$9,441
5 years$10,410$9,913$9,441$8,993$8,568$6,828
6 years$8,588$8,094$7,630$7,192$6,780$5,131
7 years$7,287$6,798$6,340$5,913$5,514$3,956
8 years$6,312$5,827$5,377$4,960$4,574$3,106
9 years$5,553$5,073$4,631$4,225$3,852$2,472
10 years$4,947$4,472$4,038$3,642$3,282$1,987
11 years$4,452$3,981$3,555$3,170$2,823$1,609
12 years$4,039$3,573$3,155$2,780$2,446$1,312
13 years$3,690$3,229$2,818$2,454$2,133$1,074
14 years$3,391$2,935$2,532$2,179$1,870$883
15 years$3,133$2,681$2,286$1,943$1,646$728
16 years$2,906$2,460$2,073$1,740$1,455$602
17 years$2,707$2,266$1,886$1,563$1,290$499
18 years$2,530$2,094$1,722$1,409$1,147$414
19 years$2,372$1,940$1,576$1,273$1,023$344
20 years$2,230$1,803$1,447$1,153$913$286
21 years$2,101$1,679$1,331$1,046$817$238
22 years$1,984$1,568$1,226$951$733$199
23 years$1,878$1,466$1,132$866$658$166
24 years$1,781$1,374$1,047$790$591$138
25 years$1,691$1,289$970$722$532$116
26 years$1,609$1,212$900$660$479$96
27 years$1,533$1,140$835$604$432$81
28 years$1,462$1,074$777$553$390$67
29 years$1,396$1,014$723$507$352$56
30 years$1,335$957$673$466$318$47
31 years$1,278$905$628$428$288$39
32 years$1,225$856$586$393$260$33
33 years$1,175$811$547$361$235$28
34 years$1,128$769$511$333$213$23
35 years$1,084$729$478$306$193$19
36 years$1,042$692$447$282$175$16
37 years$1,003$657$418$260$158$13
38 years$965$625$392$239$144$11
39 years$930$594$367$221$130$9
40 years$897$565$344$204$118$8
41 years$865$538$322$188$107$7
42 years$835$512$302$173$97$6
43 years$807$488$284$160$88$5
44 years$779$465$266$148$80$4
45 years$754$444$250$137$73$3
46 years$729$423$235$126$66$3
47 years$705$404$221$116$60$2
48 years$683$386$207$108$54$2
49 years$661$368$195$99$49$2
50 years$640$352$183$92$45$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $656,000, adding $5,613 every year, while hoping to spend $30,689 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: 37/38/25 Blend
52$656,000$656,000$656,000$656,000
53$728,702$693,934$683,766$750,030
54$770,377$695,284$674,019$767,531
55$815,274$695,671$662,917$783,190
56$863,689$695,017$650,383$799,500
57$915,949$693,236$636,334$816,539
58$972,410$690,239$620,685$834,396
59$1,033,465$685,930$603,348$853,169
60$1,099,548$680,210$584,229$872,971
61$1,171,132$672,970$563,231$893,927
62$1,248,739$664,097$540,251$916,180
63$1,332,944$653,472$515,183$939,886
64$1,424,378$640,966$487,916$965,226
65$1,523,736$626,445$458,332$992,397
66$1,631,782$609,765$426,311$1,021,623
67$1,749,356$590,776$391,725$1,053,153
68$1,877,384$569,317$354,441$1,087,267
69$2,016,882$545,219$314,320$1,124,277
70$2,168,971$518,302$271,217$1,164,530
71$2,334,884$488,377$224,981$1,208,413
72$2,515,978$455,243$175,453$1,256,360
73$2,713,746$418,687$122,468$1,308,853
74$2,929,831$378,487$65,855$1,366,427
75$3,166,045$334,404$5,432$1,429,681
76$3,424,380$286,188$0$1,499,278
77$3,707,030$233,574$0$1,591,708
78$4,016,411$176,284$0$1,694,612
79$4,355,184$114,021$0$1,807,504
80$4,726,279$46,473$0$1,931,456
81$5,132,921$0$0$2,067,651
82$5,578,665$0$0$2,228,558
83$6,067,423$0$0$2,426,393
84$6,603,506$0$0$2,643,478
85$7,191,662$0$0$2,881,748
86$7,837,120$0$0$3,143,334
87$8,545,639$0$0$3,430,582
88$9,323,565$0$0$3,746,078
89$10,177,887$0$0$4,092,671
90$11,116,304$0$0$4,473,497
91$12,147,298$0$0$4,892,014
92$13,280,214$0$0$5,352,030
93$14,525,344$0$0$5,857,740
94$15,894,030$0$0$6,413,766
95$17,398,766$0$0$7,025,201
96$19,053,316$0$0$7,697,655
97$20,872,847$0$0$8,437,309
98$22,874,066$0$0$9,250,975
99$25,075,384$0$0$10,146,155
100$27,497,084$0$0$11,131,120