Can I retire at age 53 with 696,000?

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 $696,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.3%
1 years$57,475$56,963$56,464$55,976$55,500$53,638
2 years$28,453$27,923$27,410$26,912$26,429$24,571
3 years$18,780$18,248$17,736$17,243$16,767$14,972
4 years$13,945$13,414$12,907$12,422$11,959$10,240
5 years$11,044$10,517$10,016$9,541$9,091$7,453
6 years$9,111$8,588$8,095$7,630$7,193$5,638
7 years$7,731$7,212$6,727$6,273$5,850$4,377
8 years$6,696$6,182$5,705$5,263$4,853$3,461
9 years$5,892$5,383$4,914$4,483$4,087$2,774
10 years$5,249$4,745$4,284$3,864$3,482$2,247
11 years$4,723$4,224$3,771$3,363$2,995$1,834
12 years$4,285$3,791$3,347$2,950$2,595$1,507
13 years$3,915$3,426$2,990$2,604$2,263$1,244
14 years$3,598$3,114$2,687$2,312$1,984$1,032
15 years$3,324$2,845$2,426$2,062$1,747$858
16 years$3,084$2,610$2,199$1,846$1,544$716
17 years$2,872$2,404$2,001$1,659$1,369$598
18 years$2,684$2,221$1,827$1,495$1,217$501
19 years$2,516$2,059$1,673$1,351$1,085$420
20 years$2,365$1,913$1,535$1,223$969$353
21 years$2,229$1,782$1,412$1,110$867$297
22 years$2,105$1,663$1,301$1,009$777$250
23 years$1,993$1,556$1,201$919$698$210
24 years$1,889$1,458$1,111$838$627$177
25 years$1,794$1,368$1,029$766$564$149
26 years$1,707$1,286$954$700$508$126
27 years$1,626$1,210$886$641$458$106
28 years$1,551$1,140$824$587$414$90
29 years$1,482$1,075$767$538$373$76
30 years$1,417$1,016$714$494$337$64
31 years$1,356$960$666$454$305$54
32 years$1,300$908$621$417$276$46
33 years$1,246$860$580$384$250$38
34 years$1,197$815$542$353$226$32
35 years$1,150$773$507$325$205$27
36 years$1,105$734$474$299$186$23
37 years$1,064$697$444$276$168$20
38 years$1,024$663$415$254$152$17
39 years$987$630$389$234$138$14
40 years$952$599$365$216$125$12
41 years$918$571$342$199$114$10
42 years$886$543$321$184$103$8
43 years$856$518$301$170$94$7
44 years$827$494$283$157$85$6
45 years$799$471$265$145$77$5
46 years$773$449$249$134$70$4
47 years$748$428$234$124$64$4
48 years$724$409$220$114$58$3
49 years$701$391$207$106$52$3
50 years$680$373$194$98$48$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $696,000, adding $5,584 every year, while hoping to spend $27,473 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: 36/41/23 Blend
52$696,000$696,000$696,000$696,000
53$772,752$735,864$725,076$795,036
54$822,342$742,690$720,135$818,728
55$876,069$748,930$714,108$841,353
56$934,326$754,526$706,929$865,227
57$997,546$759,417$698,529$890,477
58$1,066,204$763,536$688,838$917,249
59$1,140,822$766,815$677,780$945,700
60$1,221,976$769,180$665,276$976,010
61$1,310,299$770,551$651,244$1,008,375
62$1,406,487$770,845$635,598$1,043,016
63$1,511,306$769,974$618,248$1,080,177
64$1,625,600$767,842$599,099$1,120,130
65$1,750,295$764,351$578,054$1,163,176
66$1,886,415$759,394$555,008$1,209,650
67$2,035,082$752,857$529,854$1,259,926
68$2,197,536$744,623$502,479$1,314,414
69$2,375,139$734,563$472,766$1,373,575
70$2,569,391$722,545$440,592$1,437,916
71$2,781,944$708,425$405,827$1,508,001
72$3,014,617$692,053$368,338$1,584,455
73$3,269,414$673,269$327,983$1,667,971
74$3,548,541$651,906$284,617$1,759,317
75$3,854,426$627,783$238,086$1,859,343
76$4,189,746$600,713$188,229$1,968,991
77$4,557,446$570,494$134,882$2,089,305
78$4,960,773$536,916$77,867$2,221,439
79$5,403,301$499,754$17,005$2,366,674
80$5,888,967$458,771$0$2,526,423
81$6,422,109$413,718$0$2,714,019
82$7,007,505$364,331$0$2,924,648
83$7,650,416$310,329$0$3,156,098
84$8,356,641$251,417$0$3,410,542
85$9,132,566$187,284$0$3,690,380
86$9,985,227$117,600$0$3,998,260
87$10,922,375$42,018$0$4,337,108
88$11,952,550$0$0$4,710,153
89$13,085,160$0$0$5,138,931
90$14,330,570$0$0$5,631,365
91$15,700,200$0$0$6,173,028
92$17,206,631$0$0$6,768,909
93$18,863,725$0$0$7,424,507
94$20,686,757$0$0$8,145,878
95$22,692,555$0$0$8,939,697
96$24,899,660$0$0$9,813,319
97$27,328,502$0$0$10,774,846
98$30,001,592$0$0$11,833,206
99$32,943,733$0$0$12,998,238
100$36,182,255$0$0$14,280,782