Can I retire at age 53 with 689,000?

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 $689,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$56,897$56,390$55,896$55,413$54,942$53,921
2 years$28,167$27,642$27,134$26,641$26,163$25,138
3 years$18,591$18,065$17,557$17,069$16,599$15,602
4 years$13,805$13,279$12,777$12,297$11,838$10,877
5 years$10,933$10,411$9,916$9,446$8,999$8,077
6 years$9,020$8,501$8,013$7,554$7,121$6,238
7 years$7,653$7,140$6,659$6,210$5,791$4,948
8 years$6,629$6,120$5,647$5,210$4,804$4,001
9 years$5,833$5,328$4,864$4,437$4,046$3,282
10 years$5,196$4,697$4,241$3,825$3,447$2,721
11 years$4,676$4,181$3,733$3,329$2,965$2,276
12 years$4,242$3,753$3,313$2,920$2,569$1,917
13 years$3,876$3,392$2,960$2,578$2,240$1,624
14 years$3,562$3,083$2,660$2,288$1,964$1,382
15 years$3,290$2,816$2,401$2,041$1,729$1,181
16 years$3,053$2,584$2,177$1,827$1,528$1,012
17 years$2,843$2,380$1,981$1,642$1,355$869
18 years$2,657$2,199$1,809$1,480$1,205$749
19 years$2,491$2,038$1,656$1,337$1,074$646
20 years$2,342$1,894$1,519$1,211$959$558
21 years$2,207$1,764$1,398$1,099$858$483
22 years$2,084$1,647$1,288$999$769$419
23 years$1,973$1,540$1,189$910$691$363
24 years$1,870$1,443$1,100$830$621$315
25 years$1,776$1,354$1,019$758$559$274
26 years$1,690$1,273$945$693$503$238
27 years$1,610$1,198$877$634$454$207
28 years$1,536$1,129$816$581$409$181
29 years$1,467$1,065$759$533$370$157
30 years$1,403$1,005$707$489$334$137
31 years$1,343$950$659$449$302$119
32 years$1,286$899$615$413$273$104
33 years$1,234$852$574$380$247$91
34 years$1,185$807$537$349$224$79
35 years$1,138$766$502$322$203$69
36 years$1,094$727$469$296$184$60
37 years$1,053$690$439$273$166$53
38 years$1,014$656$411$252$151$46
39 years$977$624$385$232$137$40
40 years$942$593$361$214$124$35
41 years$909$565$339$197$113$30
42 years$877$538$318$182$102$27
43 years$847$513$298$168$93$23
44 years$819$489$280$155$84$20
45 years$791$466$263$143$76$18
46 years$765$444$247$132$69$15
47 years$741$424$232$122$63$13
48 years$717$405$218$113$57$12
49 years$694$387$205$104$52$10
50 years$673$369$193$97$47$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $689,000, adding $2,137 every year, while hoping to spend $27,600 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: 38/34/28 Blend
52$689,000$689,000$689,000$689,000
53$761,482$724,965$714,286$784,002
54$809,787$731,122$708,848$806,898
55$862,094$736,656$702,303$828,942
56$918,783$741,507$694,585$852,239
57$980,269$745,611$685,624$876,921
58$1,047,011$748,901$675,348$903,136
59$1,119,515$751,305$663,680$931,046
60$1,198,333$752,747$650,541$960,834
61$1,284,076$753,145$635,847$992,702
62$1,377,416$752,413$619,512$1,026,876
63$1,479,091$750,460$601,445$1,063,605
64$1,589,914$747,189$581,549$1,103,168
65$1,710,780$742,495$559,725$1,145,874
66$1,842,673$736,271$535,869$1,192,067
67$1,986,676$728,399$509,872$1,242,126
68$2,143,984$718,758$481,620$1,296,476
69$2,315,909$707,215$450,993$1,355,584
70$2,503,898$693,635$417,867$1,419,972
71$2,709,542$677,869$382,111$1,490,216
72$2,934,594$659,764$343,591$1,566,956
73$3,180,986$639,155$302,164$1,650,901
74$3,450,841$615,869$257,682$1,742,836
75$3,746,502$589,721$209,989$1,843,632
76$4,070,546$560,518$158,924$1,954,251
77$4,425,812$528,054$104,319$2,075,760
78$4,815,428$492,112$45,997$2,209,341
79$5,242,837$452,461$0$2,356,301
80$5,711,833$408,858$0$2,522,939
81$6,226,596$361,048$0$2,720,984
82$6,791,726$308,757$0$2,938,508
83$7,412,296$251,700$0$3,177,533
84$8,093,890$189,573$0$3,440,288
85$8,842,661$122,056$0$3,729,236
86$9,665,387$48,812$0$4,047,094
87$10,569,536$0$0$4,396,862
88$11,563,334$0$0$4,793,266
89$12,655,844$0$0$5,249,222
90$13,857,050$0$0$5,750,648
91$15,177,955$0$0$6,302,148
92$16,630,678$0$0$6,908,796
93$18,228,573$0$0$7,576,183
94$19,986,352$0$0$8,310,468
95$21,920,226$0$0$9,118,439
96$24,048,057$0$0$10,007,571
97$26,389,523$0$0$10,986,106
98$28,966,308$0$0$12,063,120
99$31,802,305$0$0$13,248,617
100$34,923,838$0$0$14,553,620