Can I retire at age 53 with 698,000?

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 $698,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$57,640$57,127$56,626$56,137$55,660$54,625
2 years$28,535$28,003$27,488$26,989$26,505$25,466
3 years$18,834$18,300$17,787$17,292$16,816$15,806
4 years$13,985$13,453$12,944$12,458$11,993$11,019
5 years$11,076$10,547$10,045$9,569$9,117$8,182
6 years$9,137$8,613$8,118$7,652$7,214$6,319
7 years$7,753$7,233$6,746$6,291$5,867$5,013
8 years$6,716$6,200$5,721$5,278$4,867$4,053
9 years$5,909$5,398$4,928$4,495$4,099$3,324
10 years$5,264$4,758$4,296$3,875$3,492$2,757
11 years$4,737$4,236$3,782$3,373$3,004$2,306
12 years$4,298$3,802$3,357$2,958$2,603$1,942
13 years$3,926$3,436$2,999$2,612$2,270$1,645
14 years$3,608$3,123$2,695$2,318$1,990$1,400
15 years$3,333$2,853$2,433$2,067$1,752$1,196
16 years$3,092$2,618$2,206$1,851$1,548$1,025
17 years$2,880$2,411$2,007$1,663$1,373$881
18 years$2,692$2,228$1,832$1,499$1,221$759
19 years$2,524$2,064$1,677$1,354$1,088$655
20 years$2,372$1,918$1,539$1,227$972$566
21 years$2,236$1,787$1,416$1,113$870$490
22 years$2,111$1,668$1,305$1,012$780$424
23 years$1,998$1,560$1,205$922$700$368
24 years$1,895$1,462$1,114$841$629$320
25 years$1,800$1,372$1,032$768$566$278
26 years$1,712$1,289$957$702$510$241
27 years$1,631$1,213$889$643$460$210
28 years$1,556$1,143$826$589$415$183
29 years$1,486$1,079$769$540$374$159
30 years$1,421$1,019$716$496$338$139
31 years$1,360$963$668$455$306$121
32 years$1,303$911$623$418$277$105
33 years$1,250$863$582$385$250$92
34 years$1,200$818$544$354$227$80
35 years$1,153$776$508$326$205$70
36 years$1,109$736$475$300$186$61
37 years$1,067$699$445$276$169$53
38 years$1,027$664$417$255$153$46
39 years$990$632$390$235$139$41
40 years$954$601$366$217$126$35
41 years$921$572$343$200$114$31
42 years$889$545$322$185$104$27
43 years$858$519$302$170$94$24
44 years$829$495$283$157$85$21
45 years$802$472$266$145$77$18
46 years$775$450$250$134$70$16
47 years$750$430$235$124$64$14
48 years$726$410$221$115$58$12
49 years$703$392$207$106$53$10
50 years$681$374$195$98$48$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $698,000, adding $3,547 every year, while hoping to spend $22,808 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: 40/47/13 Blend
52$698,000$698,000$698,000$698,000
53$772,855$735,861$725,042$800,639
54$827,418$747,650$725,063$832,411
55$886,783$759,253$724,321$864,252
56$951,414$770,636$722,765$898,198
57$1,021,825$781,764$720,344$934,451
58$1,098,578$792,597$717,003$973,234
59$1,182,295$803,096$712,684$1,014,791
60$1,273,658$813,217$707,328$1,059,395
61$1,373,420$822,913$700,872$1,107,346
62$1,482,407$832,135$693,250$1,158,975
63$1,601,532$840,828$684,393$1,214,648
64$1,731,797$848,937$674,228$1,274,770
65$1,874,306$856,401$662,681$1,339,787
66$2,030,276$863,155$649,671$1,410,194
67$2,201,046$869,132$635,117$1,486,536
68$2,388,090$874,257$618,931$1,569,416
69$2,593,033$878,453$601,023$1,659,498
70$2,817,662$881,638$581,298$1,757,517
71$3,063,949$883,723$559,656$1,864,286
72$3,334,061$884,615$535,994$1,980,701
73$3,630,389$884,215$510,203$2,107,751
74$3,955,565$882,417$482,171$2,246,530
75$4,312,486$879,110$451,778$2,398,244
76$4,704,348$874,174$418,901$2,564,226
77$5,134,667$867,484$383,410$2,745,947
78$5,607,319$858,907$345,170$2,945,032
79$6,126,572$848,300$304,039$3,163,272
80$6,697,129$835,513$259,871$3,402,649
81$7,324,171$820,388$212,512$3,665,345
82$8,013,405$802,755$161,799$3,953,773
83$8,771,119$782,437$107,566$4,270,594
84$9,604,241$759,244$49,638$4,618,745
85$10,520,404$732,977$0$5,001,466
86$11,528,015$703,423$0$5,424,025
87$12,636,340$670,359$0$5,896,137
88$13,855,588$633,547$0$6,415,291
89$15,197,004$592,737$0$6,986,322
90$16,672,981$547,664$0$7,614,561
91$18,297,174$498,048$0$8,305,888
92$20,084,625$443,592$0$9,066,789
93$22,051,913$383,984$0$9,904,417
94$24,217,302$318,893$0$10,826,658
95$26,600,917$247,969$0$11,842,214
96$29,224,935$170,844$0$12,960,675
97$32,113,791$87,128$0$14,192,622
98$35,294,409$0$0$15,549,719
99$38,796,457$0$0$17,046,688
100$42,652,629$0$0$18,744,762