Can I retire at age 53 with 688,000?

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 $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%12.5%
1 years$56,814$56,308$55,815$55,333$54,862$54,289
2 years$28,126$27,602$27,094$26,602$26,125$25,548
3 years$18,564$18,038$17,532$17,044$16,575$16,012
4 years$13,785$13,260$12,759$12,279$11,821$11,276
5 years$10,917$10,396$9,901$9,432$8,986$8,461
6 years$9,007$8,489$8,002$7,543$7,111$6,606
7 years$7,642$7,129$6,649$6,201$5,783$5,299
8 years$6,619$6,111$5,639$5,202$4,797$4,334
9 years$5,824$5,321$4,857$4,431$4,040$3,597
10 years$5,189$4,690$4,235$3,820$3,442$3,020
11 years$4,669$4,175$3,728$3,324$2,961$2,558
12 years$4,236$3,747$3,309$2,916$2,566$2,182
13 years$3,870$3,387$2,956$2,574$2,237$1,873
14 years$3,557$3,078$2,656$2,285$1,961$1,615
15 years$3,285$2,812$2,398$2,038$1,727$1,399
16 years$3,048$2,580$2,174$1,825$1,526$1,215
17 years$2,839$2,376$1,978$1,639$1,353$1,059
18 years$2,653$2,196$1,806$1,477$1,203$926
19 years$2,487$2,035$1,653$1,335$1,072$810
20 years$2,338$1,891$1,517$1,209$958$711
21 years$2,204$1,761$1,396$1,097$857$625
22 years$2,081$1,644$1,286$998$768$550
23 years$1,970$1,538$1,188$909$690$484
24 years$1,868$1,441$1,098$829$620$427
25 years$1,774$1,352$1,017$757$558$377
26 years$1,687$1,271$944$692$502$333
27 years$1,607$1,196$876$633$453$294
28 years$1,533$1,127$814$580$409$260
29 years$1,465$1,063$758$532$369$231
30 years$1,400$1,004$706$488$334$204
31 years$1,341$949$658$449$302$181
32 years$1,285$898$614$412$273$160
33 years$1,232$850$573$379$247$142
34 years$1,183$806$536$349$223$126
35 years$1,136$765$501$321$202$112
36 years$1,093$726$469$296$183$99
37 years$1,051$689$439$272$166$88
38 years$1,012$655$411$251$151$78
39 years$976$623$385$232$137$69
40 years$941$593$361$214$124$62
41 years$907$564$338$197$112$55
42 years$876$537$317$182$102$49
43 years$846$512$298$168$93$43
44 years$817$488$279$155$84$38
45 years$790$465$262$143$76$34
46 years$764$444$246$132$69$30
47 years$740$424$232$122$63$27
48 years$716$404$218$113$57$24
49 years$693$386$204$104$52$21
50 years$672$369$192$96$47$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $688,000, adding $4,222 every year, while hoping to spend $23,327 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: 47/38/15 Blend
52$688,000$688,000$688,000$688,000
53$762,531$726,067$715,403$794,964
54$815,489$736,825$714,549$828,637
55$873,068$747,327$712,885$862,444
56$935,713$757,538$710,359$898,627
57$1,003,915$767,418$706,916$937,416
58$1,078,217$776,923$702,500$979,065
59$1,159,212$786,010$697,050$1,023,856
60$1,247,556$794,628$690,506$1,072,099
61$1,343,969$802,727$682,800$1,124,137
62$1,449,244$810,252$673,864$1,180,347
63$1,564,256$817,143$663,628$1,241,148
64$1,689,966$823,338$652,015$1,307,001
65$1,827,432$828,771$638,947$1,378,416
66$1,977,819$833,371$624,341$1,455,956
67$2,142,412$837,061$608,112$1,540,242
68$2,322,623$839,762$590,168$1,631,959
69$2,520,009$841,389$570,417$1,731,866
70$2,736,283$841,850$548,760$1,840,799
71$2,973,333$841,050$525,092$1,959,680
72$3,233,238$838,886$499,308$2,089,530
73$3,518,286$835,250$471,293$2,231,474
74$3,831,001$830,026$440,930$2,386,752
75$4,174,158$823,093$408,096$2,556,737
76$4,550,817$814,320$372,663$2,742,942
77$4,964,350$803,570$334,496$2,947,035
78$5,418,467$790,698$293,455$3,170,862
79$5,917,258$775,550$249,393$3,416,454
80$6,465,228$757,962$202,158$3,686,058
81$7,067,340$737,761$151,589$3,982,149
82$7,729,061$714,764$97,520$4,307,461
83$8,456,415$688,777$39,776$4,665,009
84$9,256,037$659,594$0$5,058,121
85$10,135,238$627,000$0$5,493,963
86$11,102,073$590,763$0$5,980,110
87$12,165,415$550,642$0$6,514,689
88$13,335,043$506,379$0$7,102,660
89$14,621,729$457,702$0$7,749,496
90$16,037,341$404,326$0$8,461,228
91$17,594,959$345,947$0$9,244,510
92$19,308,990$282,244$0$10,106,677
93$21,195,312$212,879$0$11,055,816
94$23,271,418$137,494$0$12,100,846
95$25,556,584$55,712$0$13,251,599
96$28,072,049$0$0$14,518,918
97$30,841,214$0$0$15,928,496
98$33,889,868$0$0$17,506,086
99$37,246,424$0$0$19,243,105
100$40,942,192$0$0$21,155,770