Can I retire at age 53 with 688,000?

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 $688,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.6%
1 years$56,814$56,308$55,815$55,333$54,862$53,170
2 years$28,126$27,602$27,094$26,602$26,125$24,435
3 years$18,564$18,038$17,532$17,044$16,575$14,940
4 years$13,785$13,260$12,759$12,279$11,821$10,254
5 years$10,917$10,396$9,901$9,432$8,986$7,491
6 years$9,007$8,489$8,002$7,543$7,111$5,688
7 years$7,642$7,129$6,649$6,201$5,783$4,434
8 years$6,619$6,111$5,639$5,202$4,797$3,520
9 years$5,824$5,321$4,857$4,431$4,040$2,834
10 years$5,189$4,690$4,235$3,820$3,442$2,305
11 years$4,669$4,175$3,728$3,324$2,961$1,891
12 years$4,236$3,747$3,309$2,916$2,566$1,561
13 years$3,870$3,387$2,956$2,574$2,237$1,295
14 years$3,557$3,078$2,656$2,285$1,961$1,079
15 years$3,285$2,812$2,398$2,038$1,727$902
16 years$3,048$2,580$2,174$1,825$1,526$756
17 years$2,839$2,376$1,978$1,639$1,353$635
18 years$2,653$2,196$1,806$1,477$1,203$535
19 years$2,487$2,035$1,653$1,335$1,072$451
20 years$2,338$1,891$1,517$1,209$958$380
21 years$2,204$1,761$1,396$1,097$857$322
22 years$2,081$1,644$1,286$998$768$272
23 years$1,970$1,538$1,188$909$690$230
24 years$1,868$1,441$1,098$829$620$195
25 years$1,774$1,352$1,017$757$558$165
26 years$1,687$1,271$944$692$502$140
27 years$1,607$1,196$876$633$453$119
28 years$1,533$1,127$814$580$409$101
29 years$1,465$1,063$758$532$369$86
30 years$1,400$1,004$706$488$334$73
31 years$1,341$949$658$449$302$62
32 years$1,285$898$614$412$273$53
33 years$1,232$850$573$379$247$45
34 years$1,183$806$536$349$223$38
35 years$1,136$765$501$321$202$32
36 years$1,093$726$469$296$183$27
37 years$1,051$689$439$272$166$23
38 years$1,012$655$411$251$151$20
39 years$976$623$385$232$137$17
40 years$941$593$361$214$124$14
41 years$907$564$338$197$112$12
42 years$876$537$317$182$102$10
43 years$846$512$298$168$93$9
44 years$817$488$279$155$84$7
45 years$790$465$262$143$76$6
46 years$764$444$246$132$69$5
47 years$740$424$232$122$63$5
48 years$716$404$218$113$57$4
49 years$693$386$204$104$52$3
50 years$672$369$192$96$47$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $688,000, adding $2,021 every year, while hoping to spend $26,676 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: 33/46/21 Blend
52$688,000$688,000$688,000$688,000
53$760,261$723,797$713,133$780,380
54$809,424$730,880$708,640$802,628
55$862,708$737,416$703,102$824,014
56$920,505$743,350$696,456$846,512
57$983,246$748,623$688,637$870,236
58$1,051,405$753,174$679,575$895,314
59$1,125,505$756,935$669,196$921,887
60$1,206,118$759,837$657,426$950,115
61$1,293,877$761,804$644,185$980,173
62$1,389,477$762,757$629,389$1,012,257
63$1,493,682$762,610$612,952$1,046,587
64$1,607,334$761,274$594,783$1,083,404
65$1,731,359$758,654$574,785$1,122,980
66$1,866,777$754,648$552,860$1,165,614
67$2,014,711$749,148$528,903$1,211,640
68$2,176,396$742,041$502,806$1,261,430
69$2,353,192$733,205$474,454$1,315,394
70$2,546,599$722,512$443,729$1,373,990
71$2,758,264$709,828$410,506$1,437,725
72$2,990,004$695,006$374,655$1,507,163
73$3,243,819$677,897$336,041$1,582,928
74$3,521,912$658,337$294,521$1,665,711
75$3,826,708$636,156$249,949$1,756,281
76$4,160,878$611,173$202,168$1,855,489
77$4,527,364$583,198$151,017$1,964,276
78$4,929,407$552,027$96,329$2,083,688
79$5,370,577$517,446$37,926$2,214,881
80$5,854,805$479,230$0$2,359,136
81$6,386,422$437,139$0$2,523,338
82$6,970,198$390,919$0$2,713,014
83$7,611,388$340,305$0$2,921,438
84$8,315,782$285,012$0$3,150,579
85$9,089,758$224,744$0$3,402,612
86$9,940,340$159,183$0$3,679,939
87$10,875,270$87,998$0$3,985,216
88$11,903,075$10,837$0$4,321,371
89$13,033,149$0$0$4,691,643
90$14,275,844$0$0$5,136,391
91$15,642,563$0$0$5,631,675
92$17,145,870$0$0$6,176,575
93$18,799,610$0$0$6,776,125
94$20,619,034$0$0$7,435,870
95$22,620,948$0$0$8,161,919
96$24,823,869$0$0$8,961,004
97$27,248,199$0$0$9,840,543
98$29,916,417$0$0$10,808,708
99$32,853,294$0$0$11,874,506
100$36,086,123$0$0$13,047,860