Can I retire at age 53 with 690,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $690,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19%
1 years$56,980$56,472$55,977$55,494$55,022$53,027
2 years$28,208$27,682$27,173$26,680$26,201$24,213
3 years$18,618$18,091$17,583$17,094$16,623$14,705
4 years$13,825$13,299$12,796$12,315$11,856$10,022
5 years$10,949$10,426$9,930$9,459$9,012$7,267
6 years$9,033$8,514$8,025$7,565$7,131$5,476
7 years$7,664$7,150$6,669$6,219$5,800$4,234
8 years$6,639$6,129$5,656$5,217$4,811$3,335
9 years$5,841$5,336$4,871$4,444$4,052$2,662
10 years$5,204$4,704$4,247$3,831$3,452$2,146
11 years$4,682$4,187$3,739$3,334$2,969$1,744
12 years$4,248$3,758$3,318$2,924$2,573$1,426
13 years$3,881$3,396$2,965$2,582$2,244$1,172
14 years$3,567$3,087$2,664$2,292$1,967$967
15 years$3,295$2,820$2,405$2,044$1,732$800
16 years$3,057$2,588$2,180$1,830$1,531$664
17 years$2,847$2,383$1,984$1,644$1,357$552
18 years$2,661$2,202$1,811$1,482$1,207$460
19 years$2,495$2,041$1,658$1,339$1,075$384
20 years$2,345$1,896$1,522$1,213$961$321
21 years$2,210$1,766$1,400$1,101$860$268
22 years$2,087$1,649$1,290$1,001$771$224
23 years$1,975$1,542$1,191$911$692$188
24 years$1,873$1,445$1,102$831$622$157
25 years$1,779$1,356$1,020$759$559$132
26 years$1,692$1,274$946$694$504$111
27 years$1,612$1,199$879$635$454$93
28 years$1,538$1,130$817$582$410$78
29 years$1,469$1,066$760$534$370$65
30 years$1,405$1,007$708$490$334$55
31 years$1,345$952$660$450$302$46
32 years$1,288$901$616$413$274$39
33 years$1,236$853$575$380$248$32
34 years$1,186$808$537$350$224$27
35 years$1,140$767$502$322$203$23
36 years$1,096$728$470$297$184$19
37 years$1,055$691$440$273$167$16
38 years$1,015$657$412$252$151$14
39 years$978$625$386$232$137$11
40 years$943$594$362$214$124$10
41 years$910$566$339$198$113$8
42 years$878$539$318$182$102$7
43 years$848$513$299$168$93$6
44 years$820$489$280$155$84$5
45 years$793$467$263$144$77$4
46 years$767$445$247$133$69$3
47 years$742$425$232$123$63$3
48 years$718$406$218$113$57$2
49 years$695$387$205$105$52$2
50 years$674$370$193$97$47$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $690,000, adding $6,464 every year, while hoping to spend $28,488 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: 61/18/21 Blend
52$690,000$690,000$690,000$690,000
53$767,048$730,478$719,783$809,251
54$814,975$735,960$713,584$844,046
55$866,837$740,756$706,224$878,291
56$923,004$744,803$697,631$915,024
57$983,884$748,031$687,735$954,490
58$1,049,925$750,370$676,460$996,960
59$1,121,622$751,743$663,726$1,042,736
60$1,199,517$752,068$649,451$1,092,149
61$1,284,208$751,259$633,547$1,145,565
62$1,376,350$749,224$615,924$1,203,389
63$1,476,668$745,866$596,487$1,266,067
64$1,585,955$741,081$575,137$1,334,093
65$1,705,088$734,759$551,769$1,408,013
66$1,835,029$726,785$526,276$1,488,429
67$1,976,840$717,034$498,543$1,576,005
68$2,131,685$705,377$468,453$1,671,475
69$2,300,852$691,675$435,880$1,775,650
70$2,485,752$675,781$400,696$1,889,426
71$2,687,945$657,540$362,765$2,013,789
72$2,909,143$636,787$321,946$2,149,832
73$3,151,235$613,349$278,090$2,298,757
74$3,416,299$587,041$231,044$2,461,895
75$3,706,624$557,669$180,647$2,640,712
76$4,024,732$525,026$126,730$2,836,828
77$4,373,397$488,895$69,118$3,052,028
78$4,755,677$449,045$7,627$3,288,287
79$5,174,940$405,232$0$3,547,779
80$5,634,895$357,199$0$3,845,902
81$6,139,627$304,674$0$4,174,977
82$6,693,635$247,370$0$4,536,266
83$7,301,877$184,982$0$4,933,042
84$7,969,812$117,190$0$5,368,915
85$8,703,456$43,656$0$5,847,864
86$9,509,435$0$0$6,374,275
87$10,395,047$0$0$6,960,110
88$11,368,335$0$0$7,613,503
89$12,438,157$0$0$8,331,761
90$13,614,274$0$0$9,121,443
91$14,907,439$0$0$9,989,779
92$16,329,499$0$0$10,944,730
93$17,893,507$0$0$11,995,070
94$19,613,842$0$0$13,150,465
95$21,506,351$0$0$14,421,565
96$23,588,490$0$0$15,820,105
97$25,879,495$0$0$17,359,013
98$28,400,560$0$0$19,052,535
99$31,175,035$0$0$20,916,368
100$34,228,652$0$0$22,967,807