Can I retire at age 53 with 699,000?

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 $699,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.8%
1 years$57,723$57,209$56,707$56,217$55,739$54,636
2 years$28,576$28,043$27,528$27,028$26,542$25,436
3 years$18,861$18,327$17,812$17,317$16,840$15,764
4 years$14,005$13,472$12,963$12,476$12,010$10,974
5 years$11,092$10,562$10,060$9,583$9,130$8,136
6 years$9,151$8,625$8,130$7,663$7,224$6,273
7 years$7,764$7,243$6,756$6,300$5,875$4,968
8 years$6,725$6,209$5,729$5,285$4,874$4,010
9 years$5,917$5,406$4,935$4,502$4,105$3,283
10 years$5,272$4,765$4,302$3,881$3,497$2,717
11 years$4,744$4,242$3,788$3,377$3,008$2,269
12 years$4,304$3,807$3,361$2,962$2,607$1,907
13 years$3,932$3,441$3,003$2,615$2,273$1,612
14 years$3,614$3,128$2,698$2,322$1,992$1,369
15 years$3,338$2,857$2,436$2,070$1,754$1,167
16 years$3,097$2,621$2,209$1,854$1,550$998
17 years$2,884$2,414$2,010$1,666$1,375$856
18 years$2,696$2,231$1,835$1,501$1,222$736
19 years$2,527$2,067$1,680$1,356$1,090$633
20 years$2,376$1,921$1,542$1,228$973$546
21 years$2,239$1,789$1,418$1,115$871$472
22 years$2,114$1,670$1,307$1,014$781$408
23 years$2,001$1,562$1,207$923$701$353
24 years$1,897$1,464$1,116$842$630$306
25 years$1,802$1,374$1,034$769$567$265
26 years$1,714$1,291$959$703$511$230
27 years$1,633$1,215$890$644$460$199
28 years$1,558$1,145$827$590$415$173
29 years$1,488$1,080$770$541$375$150
30 years$1,423$1,020$717$496$339$131
31 years$1,362$964$669$456$306$114
32 years$1,305$912$624$419$277$99
33 years$1,252$864$583$385$251$86
34 years$1,202$819$544$354$227$75
35 years$1,155$777$509$326$206$65
36 years$1,110$737$476$300$186$57
37 years$1,068$700$446$277$169$49
38 years$1,029$665$417$255$153$43
39 years$991$633$391$235$139$37
40 years$956$602$366$217$126$32
41 years$922$573$344$200$114$28
42 years$890$546$322$185$104$25
43 years$859$520$302$171$94$21
44 years$831$496$284$157$85$19
45 years$803$473$267$145$78$16
46 years$777$451$250$134$70$14
47 years$751$430$235$124$64$12
48 years$727$411$221$115$58$11
49 years$704$392$208$106$53$9
50 years$682$375$195$98$48$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $699,000, adding $2,239 every year, while hoping to spend $31,522 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: 55/30/15 Blend
52$699,000$699,000$699,000$699,000
53$772,608$735,561$724,726$811,934
54$817,874$738,064$715,465$841,440
55$866,702$739,633$704,838$869,961
56$919,420$740,190$692,764$900,300
57$976,391$739,650$679,162$932,637
58$1,038,014$737,924$663,945$967,172
59$1,104,727$734,917$647,022$1,004,128
60$1,177,010$730,529$628,299$1,043,749
61$1,255,394$724,654$607,676$1,086,307
62$1,340,460$717,178$585,049$1,132,105
63$1,432,849$707,982$560,310$1,181,476
64$1,533,265$696,938$533,346$1,234,788
65$1,642,483$683,913$504,038$1,292,452
66$1,761,355$668,763$472,262$1,354,919
67$1,890,819$651,339$437,889$1,422,692
68$2,031,908$631,479$400,783$1,496,323
69$2,185,756$609,016$360,803$1,576,427
70$2,353,615$583,769$317,801$1,663,682
71$2,536,860$555,550$271,624$1,758,840
72$2,737,006$524,158$222,110$1,862,729
73$2,955,721$489,382$169,091$1,976,269
74$3,194,840$450,997$112,391$2,100,474
75$3,456,385$408,767$51,827$2,236,466
76$3,742,581$362,442$0$2,385,487
77$4,055,879$311,756$0$2,550,957
78$4,398,977$256,430$0$2,741,327
79$4,774,847$196,170$0$2,950,002
80$5,186,762$130,663$0$3,178,867
81$5,638,326$59,580$0$3,430,002
82$6,133,509$0$0$3,705,705
83$6,676,682$0$0$4,014,262
84$7,272,663$0$0$4,374,463
85$7,926,754$0$0$4,769,853
86$8,644,800$0$0$5,203,972
87$9,433,236$0$0$5,680,721
88$10,299,153$0$0$6,204,395
89$11,250,361$0$0$6,779,727
90$12,295,463$0$0$7,411,932
91$13,443,940$0$0$8,106,752
92$14,706,233$0$0$8,870,517
93$16,093,846$0$0$9,710,197
94$17,619,455$0$0$10,633,474
95$19,297,023$0$0$11,648,809
96$21,141,935$0$0$12,765,526
97$23,171,141$0$0$13,993,897
98$25,403,318$0$0$15,345,240
99$27,859,041$0$0$16,832,025
100$30,560,982$0$0$18,467,991