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%13.3%
1 years$56,814$56,308$55,815$55,333$54,862$54,109
2 years$28,126$27,602$27,094$26,602$26,125$25,368
3 years$18,564$18,038$17,532$17,044$16,575$15,837
4 years$13,785$13,260$12,759$12,279$11,821$11,108
5 years$10,917$10,396$9,901$9,432$8,986$8,300
6 years$9,007$8,489$8,002$7,543$7,111$6,452
7 years$7,642$7,129$6,649$6,201$5,783$5,153
8 years$6,619$6,111$5,639$5,202$4,797$4,195
9 years$5,824$5,321$4,857$4,431$4,040$3,466
10 years$5,189$4,690$4,235$3,820$3,442$2,895
11 years$4,669$4,175$3,728$3,324$2,961$2,440
12 years$4,236$3,747$3,309$2,916$2,566$2,071
13 years$3,870$3,387$2,956$2,574$2,237$1,768
14 years$3,557$3,078$2,656$2,285$1,961$1,517
15 years$3,285$2,812$2,398$2,038$1,727$1,307
16 years$3,048$2,580$2,174$1,825$1,526$1,129
17 years$2,839$2,376$1,978$1,639$1,353$979
18 years$2,653$2,196$1,806$1,477$1,203$850
19 years$2,487$2,035$1,653$1,335$1,072$740
20 years$2,338$1,891$1,517$1,209$958$645
21 years$2,204$1,761$1,396$1,097$857$564
22 years$2,081$1,644$1,286$998$768$493
23 years$1,970$1,538$1,188$909$690$432
24 years$1,868$1,441$1,098$829$620$378
25 years$1,774$1,352$1,017$757$558$332
26 years$1,687$1,271$944$692$502$291
27 years$1,607$1,196$876$633$453$256
28 years$1,533$1,127$814$580$409$225
29 years$1,465$1,063$758$532$369$198
30 years$1,400$1,004$706$488$334$174
31 years$1,341$949$658$449$302$153
32 years$1,285$898$614$412$273$135
33 years$1,232$850$573$379$247$119
34 years$1,183$806$536$349$223$105
35 years$1,136$765$501$321$202$92
36 years$1,093$726$469$296$183$81
37 years$1,051$689$439$272$166$72
38 years$1,012$655$411$251$151$63
39 years$976$623$385$232$137$56
40 years$941$593$361$214$124$49
41 years$907$564$338$197$112$43
42 years$876$537$317$182$102$38
43 years$846$512$298$168$93$34
44 years$817$488$279$155$84$30
45 years$790$465$262$143$76$26
46 years$764$444$246$132$69$23
47 years$740$424$232$122$63$20
48 years$716$404$218$113$57$18
49 years$693$386$204$104$52$16
50 years$672$369$192$96$47$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $688,000, adding $4,902 every year, while hoping to spend $42,983 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: 65/8/27 Blend
52$688,000$688,000$688,000$688,000
53$763,232$726,768$716,104$807,118
54$795,349$716,646$694,360$827,232
55$829,300$704,588$670,447$843,981
56$865,228$690,453$644,247$861,337
57$903,289$674,092$615,636$879,364
58$943,650$655,348$584,486$898,135
59$986,497$634,055$550,661$917,730
60$1,032,033$610,037$514,021$938,241
61$1,080,478$583,106$474,419$959,769
62$1,132,074$553,066$431,699$982,428
63$1,187,087$519,708$385,703$1,006,345
64$1,245,807$482,810$336,261$1,031,664
65$1,308,552$442,141$283,198$1,058,544
66$1,375,670$397,452$226,331$1,087,163
67$1,447,545$348,483$165,469$1,117,720
68$1,524,594$294,959$100,413$1,150,436
69$1,607,279$236,588$30,953$1,185,558
70$1,696,104$173,063$0$1,223,362
71$1,791,622$104,059$0$1,276,592
72$1,894,443$29,233$0$1,343,475
73$2,005,234$0$0$1,415,534
74$2,124,728$0$0$1,497,817
75$2,253,733$0$0$1,589,463
76$2,393,132$0$0$1,688,531
77$2,543,900$0$0$1,795,718
78$2,707,107$0$0$1,911,788
79$2,883,928$0$0$2,037,585
80$3,075,657$0$0$2,174,033
81$3,283,715$0$0$2,322,150
82$3,509,667$0$0$2,483,055
83$3,755,234$0$0$2,657,980
84$4,022,306$0$0$2,848,280
85$4,312,968$0$0$3,055,444
86$4,629,509$0$0$3,281,114
87$4,974,451$0$0$3,527,093
88$5,350,567$0$0$3,795,368
89$5,760,913$0$0$4,088,125
90$6,208,848$0$0$4,407,771
91$6,698,073$0$0$4,756,955
92$7,232,660$0$0$5,138,592
93$7,817,094$0$0$5,555,894
94$8,456,311$0$0$6,012,395
95$9,155,747$0$0$6,511,988
96$9,921,388$0$0$7,058,959
97$10,759,825$0$0$7,658,028
98$11,678,315$0$0$8,314,392
99$12,684,853$0$0$9,033,775
100$13,788,241$0$0$9,822,481