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%19.3%
1 years$57,805$57,290$56,788$56,298$55,819$53,732
2 years$28,617$28,084$27,567$27,066$26,580$24,501
3 years$18,888$18,353$17,838$17,342$16,864$14,858
4 years$14,025$13,491$12,981$12,494$12,027$10,111
5 years$11,108$10,577$10,074$9,596$9,143$7,321
6 years$9,164$8,637$8,141$7,674$7,235$5,507
7 years$7,776$7,254$6,765$6,309$5,884$4,251
8 years$6,735$6,218$5,738$5,293$4,881$3,342
9 years$5,926$5,414$4,942$4,508$4,111$2,662
10 years$5,279$4,772$4,308$3,886$3,502$2,143
11 years$4,750$4,248$3,793$3,382$3,012$1,738
12 years$4,310$3,813$3,366$2,967$2,610$1,418
13 years$3,938$3,446$3,008$2,619$2,276$1,163
14 years$3,619$3,132$2,702$2,325$1,995$958
15 years$3,343$2,861$2,440$2,073$1,757$791
16 years$3,101$2,625$2,212$1,857$1,553$655
17 years$2,889$2,418$2,013$1,668$1,377$543
18 years$2,700$2,234$1,837$1,503$1,224$452
19 years$2,531$2,070$1,682$1,358$1,091$376
20 years$2,379$1,924$1,544$1,230$975$313
21 years$2,242$1,792$1,420$1,117$872$261
22 years$2,117$1,673$1,309$1,015$782$218
23 years$2,004$1,565$1,208$925$702$182
24 years$1,900$1,466$1,118$843$631$152
25 years$1,805$1,376$1,035$770$568$127
26 years$1,717$1,293$960$704$511$107
27 years$1,635$1,217$891$645$461$89
28 years$1,560$1,147$829$591$416$75
29 years$1,490$1,082$771$542$376$62
30 years$1,425$1,021$718$497$339$52
31 years$1,364$966$670$456$307$44
32 years$1,307$914$625$419$278$37
33 years$1,254$865$583$386$251$31
34 years$1,203$820$545$355$227$26
35 years$1,156$778$510$327$206$22
36 years$1,112$738$477$301$187$18
37 years$1,070$701$446$277$169$15
38 years$1,030$666$418$256$153$13
39 years$993$634$391$236$139$11
40 years$957$603$367$217$126$9
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$4
46 years$778$452$251$135$70$3
47 years$753$431$236$124$64$3
48 years$728$411$221$115$58$2
49 years$705$393$208$106$53$2
50 years$683$375$196$98$48$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $700,000, adding $4,932 every year, while hoping to spend $21,326 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: 73/21/6 Blend
52$700,000$700,000$700,000$700,000
53$776,487$739,387$728,537$832,268
54$832,998$752,927$730,253$883,228
55$894,559$766,415$731,311$935,849
56$961,661$779,826$731,667$992,871
57$1,034,847$793,134$731,274$1,054,720
58$1,114,714$806,310$730,084$1,121,866
59$1,201,918$819,323$728,045$1,194,828
60$1,297,182$832,138$725,104$1,274,178
61$1,401,302$844,720$721,202$1,360,543
62$1,515,155$857,031$716,282$1,454,616
63$1,639,704$869,029$710,281$1,557,162
64$1,776,012$880,670$703,134$1,669,019
65$1,925,249$891,907$694,773$1,791,116
66$2,088,703$902,689$685,126$1,924,473
67$2,267,793$912,962$674,119$2,070,213
68$2,464,079$922,669$661,674$2,229,578
69$2,679,284$931,749$647,709$2,403,931
70$2,915,301$940,135$632,137$2,594,778
71$3,174,218$947,758$614,870$2,803,777
72$3,458,334$954,543$595,814$3,032,754
73$3,770,180$960,412$574,870$3,283,725
74$4,112,546$965,280$551,936$3,558,907
75$4,488,505$969,057$526,904$3,860,745
76$4,901,440$971,649$499,663$4,191,936
77$5,355,081$972,953$470,096$4,555,448
78$5,853,534$972,863$438,079$4,954,555
79$6,401,325$971,264$403,485$5,392,864
80$7,003,438$968,034$366,180$5,874,350
81$7,665,367$963,045$326,025$6,403,395
82$8,393,160$956,161$282,873$6,984,827
83$9,193,485$947,236$236,572$7,623,967
84$10,073,687$936,116$186,963$8,326,680
85$11,041,857$922,639$133,880$9,099,431
86$12,106,910$906,633$77,149$9,949,342
87$13,278,671$887,914$16,590$10,884,265
88$14,567,962$866,289$0$11,912,853
89$15,986,710$841,552$0$13,047,717
90$17,548,053$813,487$0$14,297,625
91$19,266,470$781,864$0$15,673,111
92$21,157,915$746,439$0$17,186,954
93$23,239,963$706,956$0$18,853,239
94$25,531,985$663,143$0$20,687,486
95$28,055,322$614,711$0$22,706,802
96$30,833,490$561,357$0$24,930,037
97$33,892,402$502,759$0$27,377,965
98$37,260,610$438,578$0$30,073,483
99$40,969,578$368,454$0$33,041,821
100$45,053,975$292,008$0$36,310,786