Can I retire at age 53 with 691,000?

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 $691,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$57,062$56,554$56,058$55,574$55,101$54,345
2 years$28,249$27,722$27,213$26,718$26,239$25,478
3 years$18,645$18,117$17,608$17,119$16,647$15,906
4 years$13,845$13,318$12,814$12,333$11,873$11,157
5 years$10,965$10,441$9,944$9,473$9,025$8,336
6 years$9,046$8,526$8,037$7,576$7,142$6,480
7 years$7,676$7,160$6,678$6,228$5,808$5,175
8 years$6,648$6,138$5,664$5,225$4,818$4,213
9 years$5,850$5,344$4,878$4,450$4,058$3,481
10 years$5,211$4,710$4,253$3,836$3,457$2,908
11 years$4,689$4,193$3,744$3,339$2,973$2,451
12 years$4,255$3,764$3,323$2,928$2,577$2,080
13 years$3,887$3,401$2,969$2,585$2,247$1,776
14 years$3,572$3,092$2,668$2,295$1,970$1,524
15 years$3,300$2,824$2,408$2,047$1,734$1,312
16 years$3,061$2,591$2,184$1,833$1,533$1,134
17 years$2,851$2,386$1,987$1,647$1,359$983
18 years$2,665$2,205$1,814$1,484$1,208$854
19 years$2,498$2,044$1,660$1,341$1,077$743
20 years$2,348$1,899$1,524$1,214$962$648
21 years$2,213$1,769$1,402$1,102$861$566
22 years$2,090$1,651$1,292$1,002$772$495
23 years$1,978$1,544$1,193$913$693$434
24 years$1,876$1,447$1,103$832$623$380
25 years$1,782$1,358$1,022$760$560$333
26 years$1,695$1,276$948$695$505$293
27 years$1,614$1,201$880$636$455$257
28 years$1,540$1,132$818$583$411$226
29 years$1,471$1,068$761$535$371$199
30 years$1,407$1,008$709$491$335$175
31 years$1,346$953$661$451$303$154
32 years$1,290$902$617$414$274$135
33 years$1,237$854$576$381$248$119
34 years$1,188$810$538$350$224$105
35 years$1,141$768$503$323$203$93
36 years$1,097$729$471$297$184$82
37 years$1,056$692$440$274$167$72
38 years$1,017$658$412$252$151$63
39 years$980$626$386$233$137$56
40 years$945$595$362$215$124$49
41 years$911$567$340$198$113$43
42 years$880$540$319$183$102$38
43 years$850$514$299$169$93$34
44 years$821$490$281$156$84$30
45 years$794$467$264$144$77$26
46 years$768$446$247$133$70$23
47 years$743$425$233$123$63$20
48 years$719$406$218$113$57$18
49 years$696$388$205$105$52$16
50 years$675$370$193$97$47$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $691,000, adding $6,760 every year, while hoping to spend $35,006 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: 38/39/23 Blend
52$691,000$691,000$691,000$691,000
53$768,455$731,832$721,121$792,155
54$809,591$730,446$708,033$808,602
55$853,750$727,818$693,333$822,602
56$901,203$723,852$676,930$837,031
57$952,248$718,442$658,729$851,949
58$1,007,212$711,481$638,631$867,424
59$1,066,453$702,849$616,531$883,535
60$1,130,368$692,425$592,321$900,371
61$1,199,388$680,077$565,887$918,031
62$1,273,991$665,666$537,109$936,631
63$1,354,700$649,045$505,864$956,300
64$1,442,090$630,059$472,021$977,185
65$1,536,794$608,542$435,444$999,451
66$1,639,507$584,321$395,992$1,023,285
67$1,750,995$557,211$353,516$1,048,895
68$1,872,099$527,017$307,861$1,076,519
69$2,003,744$493,532$258,866$1,106,420
70$2,146,949$456,538$206,361$1,138,895
71$2,302,834$415,804$150,170$1,174,278
72$2,472,631$371,087$90,109$1,212,942
73$2,657,697$322,128$25,985$1,255,302
74$2,859,525$268,655$0$1,301,826
75$3,079,757$210,380$0$1,363,451
76$3,320,203$146,999$0$1,437,823
77$3,582,853$78,192$0$1,519,261
78$3,869,900$3,618$0$1,608,544
79$4,183,755$0$0$1,706,535
80$4,527,076$0$0$1,847,270
81$4,902,788$0$0$2,003,076
82$5,314,112$0$0$2,173,746
83$5,764,595$0$0$2,360,765
84$6,258,143$0$0$2,565,767
85$6,799,058$0$0$2,790,552
86$7,392,078$0$0$3,037,101
87$8,042,421$0$0$3,307,599
88$8,755,834$0$0$3,604,450
89$9,538,647$0$0$3,930,304
90$10,397,833$0$0$4,288,077
91$11,341,073$0$0$4,680,986
92$12,376,828$0$0$5,112,570
93$13,514,416$0$0$5,586,730
94$14,764,106$0$0$6,107,765
95$16,137,208$0$0$6,680,407
96$17,646,181$0$0$7,309,873
97$19,304,754$0$0$8,001,908
98$21,128,049$0$0$8,762,843
99$23,132,728$0$0$9,599,653
100$25,337,147$0$0$10,520,022