Can I retire at age 53 with 695,000?

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 $695,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$57,392$56,881$56,382$55,896$55,420$54,457
2 years$28,412$27,883$27,370$26,873$26,391$25,424
3 years$18,753$18,222$17,710$17,218$16,743$15,802
4 years$13,925$13,395$12,889$12,404$11,941$11,034
5 years$11,028$10,502$10,002$9,528$9,078$8,206
6 years$9,098$8,576$8,083$7,619$7,183$6,348
7 years$7,720$7,202$6,717$6,264$5,842$5,044
8 years$6,687$6,173$5,697$5,255$4,846$4,085
9 years$5,884$5,375$4,907$4,476$4,081$3,357
10 years$5,241$4,738$4,278$3,858$3,477$2,789
11 years$4,716$4,218$3,766$3,358$2,991$2,337
12 years$4,279$3,786$3,342$2,945$2,592$1,973
13 years$3,909$3,421$2,986$2,600$2,260$1,674
14 years$3,593$3,110$2,683$2,308$1,981$1,428
15 years$3,319$2,841$2,422$2,059$1,744$1,222
16 years$3,079$2,606$2,196$1,843$1,542$1,049
17 years$2,868$2,400$1,998$1,656$1,367$904
18 years$2,680$2,218$1,824$1,493$1,215$780
19 years$2,513$2,056$1,670$1,349$1,083$675
20 years$2,362$1,910$1,533$1,221$968$584
21 years$2,226$1,779$1,410$1,109$866$507
22 years$2,102$1,661$1,299$1,008$776$440
23 years$1,990$1,553$1,200$918$697$383
24 years$1,887$1,455$1,110$837$626$333
25 years$1,792$1,366$1,028$765$564$290
26 years$1,705$1,284$953$699$508$253
27 years$1,624$1,208$885$640$458$221
28 years$1,549$1,138$823$586$413$192
29 years$1,479$1,074$766$538$373$168
30 years$1,415$1,014$713$493$337$147
31 years$1,354$959$665$453$305$128
32 years$1,298$907$620$416$276$112
33 years$1,245$859$579$383$249$98
34 years$1,195$814$541$352$226$86
35 years$1,148$772$506$324$204$75
36 years$1,104$733$473$299$185$65
37 years$1,062$696$443$275$168$57
38 years$1,023$662$415$254$152$50
39 years$985$629$389$234$138$44
40 years$950$599$364$216$125$38
41 years$917$570$342$199$114$34
42 years$885$543$320$184$103$29
43 years$855$517$301$170$94$26
44 years$826$493$282$157$85$23
45 years$798$470$265$145$77$20
46 years$772$448$249$134$70$17
47 years$747$428$234$123$64$15
48 years$723$408$220$114$58$13
49 years$700$390$207$105$52$12
50 years$679$373$194$97$48$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $695,000, adding $3,363 every year, while hoping to spend $26,144 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: 28/47/25 Blend
52$695,000$695,000$695,000$695,000
53$769,359$732,524$721,751$784,824
54$820,017$740,601$718,113$805,373
55$874,965$748,197$713,477$824,928
56$934,614$755,261$707,781$845,399
57$999,416$761,740$700,962$866,882
58$1,069,865$767,574$692,953$889,485
59$1,146,508$772,702$683,684$913,327
60$1,229,946$777,058$673,082$938,542
61$1,320,838$780,572$661,068$965,279
62$1,419,914$783,170$647,563$993,707
63$1,527,971$784,772$632,483$1,024,010
64$1,645,893$785,294$615,740$1,056,396
65$1,774,647$784,647$597,241$1,091,098
66$1,915,302$782,735$576,889$1,128,371
67$2,069,032$779,459$554,584$1,168,504
68$2,237,132$774,711$530,221$1,211,816
69$2,421,025$768,377$503,689$1,258,661
70$2,622,280$760,338$474,873$1,309,435
71$2,842,624$750,466$443,652$1,364,577
72$3,083,958$738,625$409,901$1,424,574
73$3,348,377$724,673$373,488$1,489,967
74$3,638,187$708,457$334,276$1,561,360
75$3,955,928$689,818$292,120$1,639,418
76$4,304,398$668,585$246,872$1,724,883
77$4,686,679$644,578$198,374$1,818,577
78$5,106,164$617,606$146,464$1,921,410
79$5,566,592$587,468$90,970$2,034,393
80$6,072,081$553,951$31,714$2,158,646
81$6,627,168$516,828$0$2,295,408
82$7,236,849$475,863$0$2,454,464
83$7,906,629$430,802$0$2,638,501
84$8,642,573$381,379$0$2,840,789
85$9,451,362$327,313$0$3,063,252
86$10,340,355$268,305$0$3,308,013
87$11,317,661$204,042$0$3,577,418
88$12,392,215$134,192$0$3,874,060
89$13,573,857$58,405$0$4,200,803
90$14,873,433$0$0$4,560,810
91$16,302,889$0$0$4,969,826
92$17,875,390$0$0$5,453,128
93$19,605,438$0$0$5,984,983
94$21,509,014$0$0$6,570,319
95$23,603,724$0$0$7,214,568
96$25,908,971$0$0$7,923,714
97$28,446,129$0$0$8,704,351
98$31,238,752$0$0$9,563,744
99$34,312,792$0$0$10,509,898
100$37,696,847$0$0$11,551,636