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%13.9%
1 years$56,897$56,390$55,896$55,413$54,942$54,054
2 years$28,167$27,642$27,134$26,641$26,163$25,271
3 years$18,591$18,065$17,557$17,069$16,599$15,730
4 years$13,805$13,279$12,777$12,297$11,838$11,000
5 years$10,933$10,411$9,916$9,446$8,999$8,194
6 years$9,020$8,501$8,013$7,554$7,121$6,349
7 years$7,653$7,140$6,659$6,210$5,791$5,053
8 years$6,629$6,120$5,647$5,210$4,804$4,100
9 years$5,833$5,328$4,864$4,437$4,046$3,375
10 years$5,196$4,697$4,241$3,825$3,447$2,809
11 years$4,676$4,181$3,733$3,329$2,965$2,359
12 years$4,242$3,753$3,313$2,920$2,569$1,994
13 years$3,876$3,392$2,960$2,578$2,240$1,696
14 years$3,562$3,083$2,660$2,288$1,964$1,449
15 years$3,290$2,816$2,401$2,041$1,729$1,243
16 years$3,053$2,584$2,177$1,827$1,528$1,070
17 years$2,843$2,380$1,981$1,642$1,355$923
18 years$2,657$2,199$1,809$1,480$1,205$799
19 years$2,491$2,038$1,656$1,337$1,074$692
20 years$2,342$1,894$1,519$1,211$959$601
21 years$2,207$1,764$1,398$1,099$858$522
22 years$2,084$1,647$1,288$999$769$455
23 years$1,973$1,540$1,189$910$691$396
24 years$1,870$1,443$1,100$830$621$346
25 years$1,776$1,354$1,019$758$559$302
26 years$1,690$1,273$945$693$503$264
27 years$1,610$1,198$877$634$454$231
28 years$1,536$1,129$816$581$409$202
29 years$1,467$1,065$759$533$370$176
30 years$1,403$1,005$707$489$334$155
31 years$1,343$950$659$449$302$135
32 years$1,286$899$615$413$273$119
33 years$1,234$852$574$380$247$104
34 years$1,185$807$537$349$224$91
35 years$1,138$766$502$322$203$80
36 years$1,094$727$469$296$184$70
37 years$1,053$690$439$273$166$61
38 years$1,014$656$411$252$151$54
39 years$977$624$385$232$137$47
40 years$942$593$361$214$124$41
41 years$909$565$339$197$113$36
42 years$877$538$318$182$102$32
43 years$847$513$298$168$93$28
44 years$819$489$280$155$84$25
45 years$791$466$263$143$76$22
46 years$765$444$247$132$69$19
47 years$741$424$232$122$63$17
48 years$717$405$218$113$57$15
49 years$694$387$205$104$52$13
50 years$673$369$193$97$47$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $689,000, adding $3,285 every year, while hoping to spend $50,079 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: 69/18/13 Blend
52$689,000$689,000$689,000$689,000
53$762,666$726,149$715,470$812,872
54$787,175$708,447$686,155$828,961
55$812,505$688,199$654,179$840,242
56$838,687$665,227$619,400$851,285
57$865,753$639,344$581,671$862,059
58$893,739$610,351$540,835$872,532
59$922,679$578,036$496,732$882,669
60$952,611$542,179$449,191$892,434
61$983,574$502,542$398,036$901,789
62$1,015,610$458,878$343,081$910,695
63$1,048,762$410,924$284,135$919,109
64$1,083,077$358,400$220,995$926,986
65$1,118,604$301,015$153,451$934,281
66$1,155,393$238,457$81,284$940,944
67$1,193,500$170,398$4,263$946,924
68$1,232,982$96,492$0$952,168
69$1,273,900$16,374$0$967,430
70$1,316,319$0$0$983,175
71$1,360,308$0$0$1,012,719
72$1,405,940$0$0$1,046,735
73$1,453,293$0$0$1,082,039
74$1,502,450$0$0$1,118,692
75$1,553,501$0$0$1,156,762
76$1,606,540$0$0$1,196,320
77$1,661,667$0$0$1,237,443
78$1,718,993$0$0$1,280,211
79$1,778,632$0$0$1,324,713
80$1,840,711$0$0$1,371,043
81$1,905,362$0$0$1,419,301
82$1,972,729$0$0$1,469,597
83$2,042,969$0$0$1,522,047
84$2,116,247$0$0$1,576,778
85$2,192,743$0$0$1,633,924
86$2,272,652$0$0$1,693,634
87$2,356,184$0$0$1,756,065
88$2,443,566$0$0$1,821,389
89$2,535,042$0$0$1,889,791
90$2,630,879$0$0$1,961,473
91$2,731,365$0$0$2,036,652
92$2,836,814$0$0$2,115,566
93$2,947,563$0$0$2,198,471
94$3,063,984$0$0$2,285,646
95$3,186,475$0$0$2,377,396
96$3,315,475$0$0$2,474,051
97$3,451,458$0$0$2,575,970
98$3,594,943$0$0$2,683,546
99$3,746,492$0$0$2,797,207
100$3,906,724$0$0$2,917,420