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%19.4%
1 years$56,897$56,390$55,896$55,413$54,942$52,866
2 years$28,167$27,642$27,134$26,641$26,163$24,096
3 years$18,591$18,065$17,557$17,069$16,599$14,605
4 years$13,805$13,279$12,777$12,297$11,838$9,934
5 years$10,933$10,411$9,916$9,446$8,999$7,189
6 years$9,020$8,501$8,013$7,554$7,121$5,405
7 years$7,653$7,140$6,659$6,210$5,791$4,170
8 years$6,629$6,120$5,647$5,210$4,804$3,276
9 years$5,833$5,328$4,864$4,437$4,046$2,608
10 years$5,196$4,697$4,241$3,825$3,447$2,098
11 years$4,676$4,181$3,733$3,329$2,965$1,700
12 years$4,242$3,753$3,313$2,920$2,569$1,387
13 years$3,876$3,392$2,960$2,578$2,240$1,136
14 years$3,562$3,083$2,660$2,288$1,964$935
15 years$3,290$2,816$2,401$2,041$1,729$772
16 years$3,053$2,584$2,177$1,827$1,528$638
17 years$2,843$2,380$1,981$1,642$1,355$529
18 years$2,657$2,199$1,809$1,480$1,205$440
19 years$2,491$2,038$1,656$1,337$1,074$366
20 years$2,342$1,894$1,519$1,211$959$305
21 years$2,207$1,764$1,398$1,099$858$254
22 years$2,084$1,647$1,288$999$769$212
23 years$1,973$1,540$1,189$910$691$177
24 years$1,870$1,443$1,100$830$621$148
25 years$1,776$1,354$1,019$758$559$123
26 years$1,690$1,273$945$693$503$103
27 years$1,610$1,198$877$634$454$86
28 years$1,536$1,129$816$581$409$72
29 years$1,467$1,065$759$533$370$60
30 years$1,403$1,005$707$489$334$50
31 years$1,343$950$659$449$302$42
32 years$1,286$899$615$413$273$35
33 years$1,234$852$574$380$247$30
34 years$1,185$807$537$349$224$25
35 years$1,138$766$502$322$203$21
36 years$1,094$727$469$296$184$17
37 years$1,053$690$439$273$166$15
38 years$1,014$656$411$252$151$12
39 years$977$624$385$232$137$10
40 years$942$593$361$214$124$9
41 years$909$565$339$197$113$7
42 years$877$538$318$182$102$6
43 years$847$513$298$168$93$5
44 years$819$489$280$155$84$4
45 years$791$466$263$143$76$4
46 years$765$444$247$132$69$3
47 years$741$424$232$122$63$2
48 years$717$405$218$113$57$2
49 years$694$387$205$104$52$2
50 years$673$369$193$97$47$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $689,000, adding $6,855 every year, while hoping to spend $23,562 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: 85/8/7 Blend
52$689,000$689,000$689,000$689,000
53$766,349$729,832$719,152$830,456
54$819,447$740,524$718,174$884,007
55$877,171$750,950$716,374$938,896
56$939,968$761,073$713,698$998,450
57$1,008,331$770,851$710,093$1,063,123
58$1,082,799$780,242$705,500$1,133,414
59$1,163,970$789,198$699,859$1,209,873
60$1,252,498$797,672$693,107$1,293,105
61$1,349,104$805,610$685,178$1,383,777
62$1,454,583$812,955$676,002$1,482,624
63$1,569,809$819,648$665,506$1,590,452
64$1,695,744$825,625$653,615$1,708,154
65$1,833,447$830,818$640,249$1,836,710
66$1,984,086$835,155$625,324$1,977,200
67$2,148,944$838,559$608,753$2,130,816
68$2,329,435$840,948$590,446$2,298,868
69$2,527,118$842,234$570,306$2,482,801
70$2,743,706$842,326$548,234$2,684,208
71$2,981,090$841,126$524,125$2,904,841
72$3,241,349$838,529$497,871$3,146,632
73$3,526,774$834,424$469,357$3,411,711
74$3,839,889$828,695$438,465$3,702,422
75$4,183,473$821,216$405,069$4,021,351
76$4,560,588$811,857$369,039$4,371,343
77$4,974,607$800,476$330,241$4,755,538
78$5,429,244$786,927$288,531$5,177,391
79$5,928,591$771,051$243,761$5,640,713
80$6,477,157$752,682$195,777$6,149,702
81$7,079,908$731,645$144,417$6,708,982
82$7,742,316$707,752$89,511$7,323,652
83$8,470,407$680,807$30,885$7,999,327
84$9,270,822$650,600$0$8,742,197
85$10,150,877$616,911$0$9,561,450
86$11,118,632$579,505$0$10,464,850
87$12,182,968$538,136$0$11,458,385
88$13,353,669$492,543$0$12,551,200
89$14,641,514$442,448$0$13,753,367
90$16,058,381$387,561$0$15,075,989
91$17,617,357$327,572$0$16,531,297
92$19,332,860$262,156$0$18,132,770
93$21,220,779$190,969$0$19,895,263
94$23,298,618$113,646$0$21,835,140
95$25,585,667$29,804$0$23,970,439
96$28,103,178$0$0$26,321,032
97$30,874,570$0$0$28,914,188
98$33,925,647$0$0$31,771,942
99$37,284,843$0$0$34,918,305
100$40,983,489$0$0$38,382,625