Can I retire at age 53 with 697,000?

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 $697,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.3%
1 years$57,558$57,045$56,545$56,056$55,580$53,930
2 years$28,494$27,963$27,449$26,950$26,467$24,818
3 years$18,807$18,274$17,761$17,267$16,791$15,196
4 years$13,965$13,434$12,926$12,440$11,976$10,446
5 years$11,060$10,532$10,031$9,555$9,104$7,643
6 years$9,124$8,600$8,106$7,641$7,204$5,813
7 years$7,742$7,222$6,736$6,282$5,858$4,539
8 years$6,706$6,191$5,713$5,270$4,860$3,610
9 years$5,901$5,390$4,921$4,489$4,093$2,912
10 years$5,257$4,751$4,290$3,870$3,487$2,373
11 years$4,730$4,230$3,777$3,368$2,999$1,950
12 years$4,291$3,796$3,352$2,954$2,599$1,613
13 years$3,921$3,431$2,995$2,608$2,266$1,341
14 years$3,603$3,119$2,691$2,315$1,987$1,119
15 years$3,328$2,849$2,429$2,065$1,749$938
16 years$3,088$2,614$2,203$1,849$1,546$788
17 years$2,876$2,407$2,004$1,661$1,371$663
18 years$2,688$2,224$1,830$1,497$1,219$560
19 years$2,520$2,062$1,675$1,353$1,086$473
20 years$2,369$1,916$1,537$1,225$970$400
21 years$2,232$1,784$1,414$1,112$868$339
22 years$2,108$1,666$1,303$1,011$778$287
23 years$1,995$1,558$1,203$921$699$244
24 years$1,892$1,460$1,113$840$628$207
25 years$1,797$1,370$1,031$767$565$176
26 years$1,709$1,287$956$701$509$150
27 years$1,628$1,212$888$642$459$127
28 years$1,553$1,142$825$588$414$108
29 years$1,484$1,077$768$539$374$92
30 years$1,419$1,017$715$495$338$78
31 years$1,358$962$667$454$305$67
32 years$1,301$910$622$418$276$57
33 years$1,248$862$581$384$250$48
34 years$1,198$817$543$353$226$41
35 years$1,151$775$507$325$205$35
36 years$1,107$735$475$300$186$30
37 years$1,065$698$444$276$168$26
38 years$1,026$664$416$254$153$22
39 years$988$631$390$235$138$19
40 years$953$600$365$216$126$16
41 years$919$571$343$200$114$13
42 years$887$544$321$184$103$11
43 years$857$519$302$170$94$10
44 years$828$494$283$157$85$8
45 years$801$471$266$145$77$7
46 years$774$450$250$134$70$6
47 years$749$429$235$124$64$5
48 years$725$410$220$114$58$4
49 years$702$391$207$106$53$4
50 years$681$374$195$98$48$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $697,000, adding $6,319 every year, while hoping to spend $23,266 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: 64/21/15 Blend
52$697,000$697,000$697,000$697,000
53$774,612$737,671$726,868$820,977
54$828,868$749,062$726,463$864,210
55$887,878$760,232$725,265$908,166
56$952,102$771,144$723,222$955,614
57$1,022,048$781,761$720,281$1,006,895
58$1,098,272$792,043$716,386$1,062,385
59$1,181,389$801,946$711,478$1,122,497
60$1,272,073$811,424$705,495$1,187,688
61$1,371,067$820,426$698,372$1,258,462
62$1,479,190$828,901$690,041$1,335,372
63$1,597,342$836,792$680,432$1,419,032
64$1,726,515$844,039$669,471$1,510,115
65$1,867,800$850,577$657,079$1,609,365
66$2,022,399$856,339$643,175$1,717,604
67$2,191,636$861,252$627,673$1,835,733
68$2,376,969$865,239$610,486$1,964,752
69$2,580,001$868,217$591,519$2,105,760
70$2,802,501$870,100$570,674$2,259,968
71$3,046,415$870,794$547,851$2,428,714
72$3,313,888$870,201$522,942$2,613,471
73$3,607,280$868,216$495,836$2,815,865
74$3,929,192$864,728$466,416$3,037,687
75$4,282,489$859,620$434,561$3,280,914
76$4,670,327$852,765$400,143$3,547,723
77$5,096,181$844,032$363,029$3,840,517
78$5,563,882$833,279$323,080$4,161,943
79$6,077,646$820,358$280,152$4,514,922
80$6,642,121$805,111$234,092$4,902,672
81$7,262,426$787,371$184,743$5,328,743
82$7,944,201$766,959$131,939$5,797,048
83$8,693,659$743,689$75,508$6,311,901
84$9,517,644$717,362$15,269$6,878,058
85$10,423,699$687,768$0$7,500,762
86$11,420,132$654,684$0$8,193,640
87$12,516,097$617,875$0$8,958,337
88$13,721,680$577,093$0$9,799,466
89$15,047,995$532,074$0$10,724,805
90$16,507,286$482,540$0$11,742,930
91$18,113,042$428,197$0$12,863,289
92$19,880,128$368,736$0$14,096,298
93$21,824,924$303,826$0$15,453,436
94$23,965,475$233,122$0$16,947,354
95$26,321,666$156,258$0$18,591,996
96$28,915,408$72,846$0$20,402,728
97$31,770,842$0$0$22,396,488
98$34,914,572$0$0$24,595,992
99$38,375,910$0$0$27,036,305
100$42,187,156$0$0$29,723,373