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%11%
1 years$56,814$56,308$55,815$55,333$54,862$54,631
2 years$28,126$27,602$27,094$26,602$26,125$25,891
3 years$18,564$18,038$17,532$17,044$16,575$16,346
4 years$13,785$13,260$12,759$12,279$11,821$11,600
5 years$10,917$10,396$9,901$9,432$8,986$8,772
6 years$9,007$8,489$8,002$7,543$7,111$6,904
7 years$7,642$7,129$6,649$6,201$5,783$5,584
8 years$6,619$6,111$5,639$5,202$4,797$4,607
9 years$5,824$5,321$4,857$4,431$4,040$3,857
10 years$5,189$4,690$4,235$3,820$3,442$3,267
11 years$4,669$4,175$3,728$3,324$2,961$2,793
12 years$4,236$3,747$3,309$2,916$2,566$2,405
13 years$3,870$3,387$2,956$2,574$2,237$2,084
14 years$3,557$3,078$2,656$2,285$1,961$1,815
15 years$3,285$2,812$2,398$2,038$1,727$1,588
16 years$3,048$2,580$2,174$1,825$1,526$1,394
17 years$2,839$2,376$1,978$1,639$1,353$1,228
18 years$2,653$2,196$1,806$1,477$1,203$1,084
19 years$2,487$2,035$1,653$1,335$1,072$959
20 years$2,338$1,891$1,517$1,209$958$851
21 years$2,204$1,761$1,396$1,097$857$756
22 years$2,081$1,644$1,286$998$768$673
23 years$1,970$1,538$1,188$909$690$599
24 years$1,868$1,441$1,098$829$620$535
25 years$1,774$1,352$1,017$757$558$477
26 years$1,687$1,271$944$692$502$427
27 years$1,607$1,196$876$633$453$382
28 years$1,533$1,127$814$580$409$342
29 years$1,465$1,063$758$532$369$306
30 years$1,400$1,004$706$488$334$274
31 years$1,341$949$658$449$302$246
32 years$1,285$898$614$412$273$221
33 years$1,232$850$573$379$247$198
34 years$1,183$806$536$349$223$178
35 years$1,136$765$501$321$202$160
36 years$1,093$726$469$296$183$144
37 years$1,051$689$439$272$166$129
38 years$1,012$655$411$251$151$116
39 years$976$623$385$232$137$104
40 years$941$593$361$214$124$94
41 years$907$564$338$197$112$84
42 years$876$537$317$182$102$76
43 years$846$512$298$168$93$68
44 years$817$488$279$155$84$62
45 years$790$465$262$143$76$55
46 years$764$444$246$132$69$50
47 years$740$424$232$122$63$45
48 years$716$404$218$113$57$40
49 years$693$386$204$104$52$36
50 years$672$369$192$96$47$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $688,000, adding $5,723 every year, while hoping to spend $21,341 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: 60/12/28 Blend
52$688,000$688,000$688,000$688,000
53$764,079$727,615$716,951$803,821
54$819,309$740,562$718,262$844,536
55$879,456$753,427$718,902$886,165
56$945,001$766,186$718,826$931,143
57$1,016,470$778,808$717,986$979,803
58$1,094,445$791,264$716,333$1,032,509
59$1,179,563$803,520$713,814$1,089,665
60$1,272,527$815,542$710,376$1,151,715
61$1,374,113$827,291$705,962$1,219,151
62$1,485,171$838,728$700,510$1,292,513
63$1,606,641$849,808$693,960$1,372,398
64$1,739,555$860,485$686,244$1,459,465
65$1,885,052$870,710$677,295$1,554,439
66$2,044,382$880,431$667,040$1,658,121
67$2,218,927$889,589$655,403$1,771,395
68$2,410,205$898,126$642,307$1,895,234
69$2,619,889$905,978$627,667$2,030,714
70$2,849,821$913,075$611,398$2,179,018
71$3,102,032$919,345$593,409$2,341,453
72$3,378,757$924,710$573,606$2,519,461
73$3,682,458$929,088$551,889$2,714,630
74$4,015,847$932,392$528,155$2,928,713
75$4,381,911$934,527$502,297$3,163,642
76$4,783,942$935,395$474,200$3,421,549
77$5,225,566$934,890$443,747$3,704,782
78$5,710,775$932,902$410,813$4,015,934
79$6,243,969$929,310$375,272$4,357,860
80$6,829,997$923,988$336,986$4,733,711
81$7,474,197$916,805$295,816$5,146,961
82$8,182,454$907,616$251,614$5,601,439
83$8,961,248$896,273$204,226$6,101,367
84$9,817,721$882,616$153,493$6,651,401
85$10,759,740$866,476$99,247$7,256,673
86$11,795,975$847,675$41,313$7,922,843
87$12,935,976$826,022$0$8,656,148
88$14,190,266$801,318$0$9,469,596
89$15,570,441$773,351$0$10,378,210
90$17,089,276$741,895$0$11,378,053
91$18,760,848$706,714$0$12,478,403
92$20,600,667$667,555$0$13,689,482
93$22,625,823$624,153$0$15,022,557
94$24,855,148$576,227$0$16,490,043
95$27,309,390$523,479$0$18,105,621
96$30,011,414$465,596$0$19,884,370
97$32,986,414$402,246$0$21,842,905
98$36,262,149$333,077$0$23,999,536
99$39,869,209$257,719$0$26,374,442
100$43,841,302$175,780$0$28,989,861