Can I retire at age 53 with 700,000?

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 $700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$57,805$57,290$56,788$56,298$55,819$54,250
2 years$28,617$28,084$27,567$27,066$26,580$25,011
3 years$18,888$18,353$17,838$17,342$16,864$15,344
4 years$14,025$13,491$12,981$12,494$12,027$10,569
5 years$11,108$10,577$10,074$9,596$9,143$7,749
6 years$9,164$8,637$8,141$7,674$7,235$5,907
7 years$7,776$7,254$6,765$6,309$5,884$4,623
8 years$6,735$6,218$5,738$5,293$4,881$3,686
9 years$5,926$5,414$4,942$4,508$4,111$2,980
10 years$5,279$4,772$4,308$3,886$3,502$2,435
11 years$4,750$4,248$3,793$3,382$3,012$2,006
12 years$4,310$3,813$3,366$2,967$2,610$1,663
13 years$3,938$3,446$3,008$2,619$2,276$1,386
14 years$3,619$3,132$2,702$2,325$1,995$1,160
15 years$3,343$2,861$2,440$2,073$1,757$975
16 years$3,101$2,625$2,212$1,857$1,553$821
17 years$2,889$2,418$2,013$1,668$1,377$694
18 years$2,700$2,234$1,837$1,503$1,224$587
19 years$2,531$2,070$1,682$1,358$1,091$497
20 years$2,379$1,924$1,544$1,230$975$422
21 years$2,242$1,792$1,420$1,117$872$359
22 years$2,117$1,673$1,309$1,015$782$305
23 years$2,004$1,565$1,208$925$702$260
24 years$1,900$1,466$1,118$843$631$221
25 years$1,805$1,376$1,035$770$568$189
26 years$1,717$1,293$960$704$511$161
27 years$1,635$1,217$891$645$461$137
28 years$1,560$1,147$829$591$416$117
29 years$1,490$1,082$771$542$376$100
30 years$1,425$1,021$718$497$339$85
31 years$1,364$966$670$456$307$73
32 years$1,307$914$625$419$278$62
33 years$1,254$865$583$386$251$53
34 years$1,203$820$545$355$227$46
35 years$1,156$778$510$327$206$39
36 years$1,112$738$477$301$187$33
37 years$1,070$701$446$277$169$28
38 years$1,030$666$418$256$153$24
39 years$993$634$391$236$139$21
40 years$957$603$367$217$126$18
41 years$923$574$344$201$114$15
42 years$891$547$323$185$104$13
43 years$861$521$303$171$94$11
44 years$832$496$284$158$86$10
45 years$804$473$267$146$78$8
46 years$778$452$251$135$70$7
47 years$753$431$236$124$64$6
48 years$728$411$221$115$58$5
49 years$705$393$208$106$53$4
50 years$683$375$196$98$48$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $700,000, adding $6,233 every year, while hoping to spend $38,689 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: 66/16/18 Blend
52$700,000$700,000$700,000$700,000
53$777,829$740,729$729,879$825,312
54$816,003$735,860$713,166$853,015
55$856,774$729,456$694,595$878,244
56$900,366$721,400$674,065$904,886
57$947,025$711,570$651,467$933,080
58$997,019$699,835$626,690$962,979
59$1,050,645$686,057$599,614$994,752
60$1,108,227$670,090$570,117$1,028,588
61$1,170,121$651,779$538,070$1,064,696
62$1,236,716$630,959$503,339$1,103,308
63$1,308,442$607,457$465,782$1,144,679
64$1,385,770$581,090$425,252$1,189,096
65$1,469,218$551,662$381,597$1,236,872
66$1,559,353$518,968$334,656$1,288,357
67$1,656,800$482,791$284,260$1,343,938
68$1,762,247$442,901$230,236$1,404,044
69$1,876,447$399,054$172,400$1,469,148
70$2,000,231$350,994$110,562$1,539,776
71$2,134,511$298,450$44,522$1,616,510
72$2,280,291$241,134$0$1,699,991
73$2,438,675$178,743$0$1,795,917
74$2,610,876$110,957$0$1,909,540
75$2,798,230$37,439$0$2,033,215
76$3,002,207$0$0$2,167,949
77$3,224,425$0$0$2,322,281
78$3,466,662$0$0$2,497,744
79$3,730,878$0$0$2,689,169
80$4,019,229$0$0$2,898,125
81$4,334,087$0$0$3,126,336
82$4,678,065$0$0$3,375,701
83$5,054,039$0$0$3,648,311
84$5,465,174$0$0$3,946,469
85$5,914,957$0$0$4,272,709
86$6,407,227$0$0$4,629,822
87$6,946,210$0$0$5,020,881
88$7,536,561$0$0$5,449,271
89$8,183,406$0$0$5,918,719
90$8,892,389$0$0$6,433,330
91$9,669,728$0$0$6,997,625
92$10,522,271$0$0$7,616,582
93$11,457,560$0$0$8,295,687
94$12,483,901$0$0$9,040,981
95$13,610,446$0$0$9,859,117
96$14,847,274$0$0$10,757,425
97$16,205,488$0$0$11,743,981
98$17,697,320$0$0$12,827,678
99$19,336,242$0$0$14,018,315
100$21,137,099$0$0$15,326,687