Can I retire at age 53 with 700,000?

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 $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%19.7%
1 years$57,805$57,290$56,788$56,298$55,819$53,647
2 years$28,617$28,084$27,567$27,066$26,580$24,418
3 years$18,888$18,353$17,838$17,342$16,864$14,779
4 years$14,025$13,491$12,981$12,494$12,027$10,037
5 years$11,108$10,577$10,074$9,596$9,143$7,252
6 years$9,164$8,637$8,141$7,674$7,235$5,443
7 years$7,776$7,254$6,765$6,309$5,884$4,192
8 years$6,735$6,218$5,738$5,293$4,881$3,288
9 years$5,926$5,414$4,942$4,508$4,111$2,613
10 years$5,279$4,772$4,308$3,886$3,502$2,097
11 years$4,750$4,248$3,793$3,382$3,012$1,697
12 years$4,310$3,813$3,366$2,967$2,610$1,381
13 years$3,938$3,446$3,008$2,619$2,276$1,129
14 years$3,619$3,132$2,702$2,325$1,995$927
15 years$3,343$2,861$2,440$2,073$1,757$764
16 years$3,101$2,625$2,212$1,857$1,553$630
17 years$2,889$2,418$2,013$1,668$1,377$522
18 years$2,700$2,234$1,837$1,503$1,224$432
19 years$2,531$2,070$1,682$1,358$1,091$359
20 years$2,379$1,924$1,544$1,230$975$298
21 years$2,242$1,792$1,420$1,117$872$248
22 years$2,117$1,673$1,309$1,015$782$206
23 years$2,004$1,565$1,208$925$702$172
24 years$1,900$1,466$1,118$843$631$143
25 years$1,805$1,376$1,035$770$568$119
26 years$1,717$1,293$960$704$511$99
27 years$1,635$1,217$891$645$461$83
28 years$1,560$1,147$829$591$416$69
29 years$1,490$1,082$771$542$376$58
30 years$1,425$1,021$718$497$339$48
31 years$1,364$966$670$456$307$40
32 years$1,307$914$625$419$278$34
33 years$1,254$865$583$386$251$28
34 years$1,203$820$545$355$227$23
35 years$1,156$778$510$327$206$20
36 years$1,112$738$477$301$187$16
37 years$1,070$701$446$277$169$14
38 years$1,030$666$418$256$153$11
39 years$993$634$391$236$139$10
40 years$957$603$367$217$126$8
41 years$923$574$344$201$114$7
42 years$891$547$323$185$104$6
43 years$861$521$303$171$94$5
44 years$832$496$284$158$86$4
45 years$804$473$267$146$78$3
46 years$778$452$251$135$70$3
47 years$753$431$236$124$64$2
48 years$728$411$221$115$58$2
49 years$705$393$208$106$53$2
50 years$683$375$196$98$48$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $700,000, adding $6,716 every year, while hoping to spend $42,054 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: 76/5/19 Blend
52$700,000$700,000$700,000$700,000
53$778,328$741,228$730,378$833,565
54$812,972$732,803$710,100$862,618
55$849,740$722,555$687,734$888,604
56$888,805$710,352$663,164$915,983
57$930,355$696,051$636,272$944,881
58$974,597$679,503$606,932$975,438
59$1,021,755$660,548$575,014$1,007,809
60$1,072,077$639,018$540,380$1,042,168
61$1,125,835$614,735$502,889$1,078,701
62$1,183,324$587,512$462,390$1,117,621
63$1,244,872$557,148$418,728$1,159,158
64$1,310,833$523,433$371,740$1,203,568
65$1,381,601$486,144$321,256$1,251,134
66$1,457,605$445,045$267,099$1,302,169
67$1,539,316$399,888$209,082$1,357,020
68$1,627,252$350,408$147,012$1,416,066
69$1,721,982$296,329$80,687$1,479,732
70$1,824,129$237,354$9,896$1,548,482
71$1,934,381$173,175$0$1,622,833
72$2,053,491$103,464$0$1,716,662
73$2,182,286$27,873$0$1,820,295
74$2,321,678$0$0$1,932,467
75$2,472,667$0$0$2,056,964
76$2,636,354$0$0$2,193,615
77$2,813,947$0$0$2,341,901
78$3,006,780$0$0$2,502,934
79$3,216,314$0$0$2,677,941
80$3,444,159$0$0$2,868,269
81$3,692,089$0$0$3,075,402
82$3,962,051$0$0$3,300,971
83$4,256,190$0$0$3,546,773
84$4,576,866$0$0$3,814,783
85$4,926,678$0$0$4,107,177
86$5,308,484$0$0$4,426,348
87$5,725,432$0$0$4,774,932
88$6,180,987$0$0$5,155,831
89$6,678,961$0$0$5,572,238
90$7,223,557$0$0$6,027,669
91$7,819,396$0$0$6,525,996
92$8,471,570$0$0$7,071,484
93$9,185,686$0$0$7,668,826
94$9,967,917$0$0$8,323,193
95$10,825,062$0$0$9,040,277
96$11,764,610$0$0$9,826,350
97$12,794,806$0$0$10,688,317
98$13,924,733$0$0$11,633,785
99$15,164,396$0$0$12,671,132
100$16,524,814$0$0$13,809,584