Can I retire at age 53 with 695,000?

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 $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%13.9%
1 years$57,392$56,881$56,382$55,896$55,420$54,525
2 years$28,412$27,883$27,370$26,873$26,391$25,491
3 years$18,753$18,222$17,710$17,218$16,743$15,867
4 years$13,925$13,395$12,889$12,404$11,941$11,096
5 years$11,028$10,502$10,002$9,528$9,078$8,265
6 years$9,098$8,576$8,083$7,619$7,183$6,404
7 years$7,720$7,202$6,717$6,264$5,842$5,097
8 years$6,687$6,173$5,697$5,255$4,846$4,136
9 years$5,884$5,375$4,907$4,476$4,081$3,404
10 years$5,241$4,738$4,278$3,858$3,477$2,833
11 years$4,716$4,218$3,766$3,358$2,991$2,379
12 years$4,279$3,786$3,342$2,945$2,592$2,012
13 years$3,909$3,421$2,986$2,600$2,260$1,711
14 years$3,593$3,110$2,683$2,308$1,981$1,462
15 years$3,319$2,841$2,422$2,059$1,744$1,254
16 years$3,079$2,606$2,196$1,843$1,542$1,079
17 years$2,868$2,400$1,998$1,656$1,367$931
18 years$2,680$2,218$1,824$1,493$1,215$805
19 years$2,513$2,056$1,670$1,349$1,083$698
20 years$2,362$1,910$1,533$1,221$968$606
21 years$2,226$1,779$1,410$1,109$866$527
22 years$2,102$1,661$1,299$1,008$776$459
23 years$1,990$1,553$1,200$918$697$400
24 years$1,887$1,455$1,110$837$626$349
25 years$1,792$1,366$1,028$765$564$305
26 years$1,705$1,284$953$699$508$266
27 years$1,624$1,208$885$640$458$233
28 years$1,549$1,138$823$586$413$203
29 years$1,479$1,074$766$538$373$178
30 years$1,415$1,014$713$493$337$156
31 years$1,354$959$665$453$305$136
32 years$1,298$907$620$416$276$120
33 years$1,245$859$579$383$249$105
34 years$1,195$814$541$352$226$92
35 years$1,148$772$506$324$204$81
36 years$1,104$733$473$299$185$71
37 years$1,062$696$443$275$168$62
38 years$1,023$662$415$254$152$54
39 years$985$629$389$234$138$48
40 years$950$599$364$216$125$42
41 years$917$570$342$199$114$37
42 years$885$543$320$184$103$32
43 years$855$517$301$170$94$28
44 years$826$493$282$157$85$25
45 years$798$470$265$145$77$22
46 years$772$448$249$134$70$19
47 years$747$428$234$123$64$17
48 years$723$408$220$114$58$15
49 years$700$390$207$105$52$13
50 years$679$373$194$97$48$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $695,000, adding $5,139 every year, while hoping to spend $24,303 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: 64/10/26 Blend
52$695,000$695,000$695,000$695,000
53$771,191$734,356$723,583$814,955
54$823,994$744,481$721,965$855,282
55$881,369$754,288$719,478$896,172
56$943,756$763,735$716,068$940,313
57$1,011,639$772,779$711,677$988,027
58$1,085,553$781,371$706,244$1,039,669
59$1,166,083$789,463$699,708$1,095,630
60$1,253,877$797,000$692,001$1,156,344
61$1,349,644$803,925$683,055$1,222,287
62$1,454,168$810,177$672,798$1,293,985
63$1,568,310$815,692$661,152$1,372,018
64$1,693,016$820,400$648,040$1,457,027
65$1,829,333$824,228$633,378$1,549,718
66$1,978,408$827,098$617,079$1,650,869
67$2,141,506$828,927$599,053$1,761,340
68$2,320,022$829,627$579,203$1,882,080
69$2,515,489$829,103$557,431$2,014,133
70$2,729,596$827,257$533,633$2,158,652
71$2,964,205$823,982$507,699$2,316,910
72$3,221,364$819,167$479,517$2,490,310
73$3,503,329$812,693$448,967$2,680,399
74$3,812,587$804,432$415,925$2,888,883
75$4,151,874$794,253$380,262$3,117,644
76$4,524,206$782,012$341,842$3,368,758
77$4,932,905$767,561$300,523$3,644,513
78$5,381,628$750,738$256,158$3,947,434
79$5,874,407$731,377$208,592$4,280,304
80$6,415,681$709,299$157,664$4,646,192
81$7,010,340$684,314$103,205$5,048,482
82$7,663,772$656,223$45,041$5,490,907
83$8,381,914$624,815$0$5,977,582
84$9,171,303$589,865$0$6,517,768
85$10,039,146$551,138$0$7,125,385
86$10,993,377$508,383$0$7,793,496
87$12,042,743$461,335$0$8,528,241
88$13,196,877$409,715$0$9,336,383
89$14,466,396$353,227$0$10,225,380
90$15,862,993$291,560$0$11,203,445
91$17,399,555$224,384$0$12,279,633
92$19,090,281$151,350$0$13,463,919
93$20,950,813$72,090$0$14,767,299
94$22,998,390$0$0$16,201,888
95$25,252,003$0$0$17,782,553
96$27,732,580$0$0$19,531,198
97$30,463,179$0$0$21,456,152
98$33,469,209$0$0$23,575,334
99$36,778,665$0$0$25,908,487
100$40,422,397$0$0$28,477,369