Can I retire at age 53 with 701,000?

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 $701,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.1%
1 years$57,888$57,372$56,869$56,378$55,899$54,283
2 years$28,657$28,124$27,606$27,105$26,618$25,004
3 years$18,915$18,379$17,863$17,366$16,888$15,325
4 years$14,045$13,511$13,000$12,511$12,045$10,545
5 years$11,124$10,592$10,088$9,610$9,156$7,724
6 years$9,177$8,650$8,153$7,685$7,245$5,881
7 years$7,787$7,264$6,775$6,318$5,892$4,597
8 years$6,745$6,226$5,746$5,300$4,888$3,661
9 years$5,934$5,421$4,949$4,515$4,116$2,956
10 years$5,287$4,779$4,315$3,892$3,507$2,412
11 years$4,757$4,254$3,798$3,387$3,016$1,985
12 years$4,316$3,818$3,371$2,971$2,614$1,644
13 years$3,943$3,451$3,012$2,623$2,279$1,368
14 years$3,624$3,136$2,706$2,328$1,998$1,144
15 years$3,347$2,865$2,443$2,076$1,759$959
16 years$3,106$2,629$2,215$1,859$1,555$807
17 years$2,893$2,421$2,016$1,670$1,379$681
18 years$2,703$2,237$1,840$1,505$1,226$575
19 years$2,534$2,073$1,685$1,360$1,093$487
20 years$2,382$1,927$1,546$1,232$976$412
21 years$2,245$1,795$1,422$1,118$873$350
22 years$2,121$1,675$1,311$1,017$783$297
23 years$2,007$1,567$1,210$926$703$253
24 years$1,903$1,468$1,119$844$632$215
25 years$1,807$1,378$1,037$771$568$183
26 years$1,719$1,295$961$705$512$156
27 years$1,638$1,219$893$645$462$133
28 years$1,562$1,148$830$591$417$113
29 years$1,492$1,083$772$542$376$96
30 years$1,427$1,023$719$498$340$82
31 years$1,366$967$671$457$307$70
32 years$1,309$915$626$420$278$60
33 years$1,255$867$584$386$252$51
34 years$1,205$821$546$355$228$44
35 years$1,158$779$510$327$206$37
36 years$1,113$739$477$301$187$32
37 years$1,071$702$447$278$169$27
38 years$1,032$667$418$256$154$23
39 years$994$635$392$236$139$20
40 years$958$604$367$218$126$17
41 years$925$575$345$201$115$14
42 years$892$547$323$185$104$12
43 years$862$522$303$171$94$10
44 years$833$497$285$158$86$9
45 years$805$474$267$146$78$8
46 years$779$452$251$135$71$7
47 years$754$432$236$124$64$6
48 years$729$412$222$115$58$5
49 years$706$393$208$106$53$4
50 years$684$376$196$98$48$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $701,000, adding $3,160 every year, while hoping to spend $39,253 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: 73/13/14 Blend
52$701,000$701,000$701,000$701,000
53$775,762$738,609$727,743$829,812
54$813,124$733,035$710,358$860,443
55$852,983$725,874$691,074$888,853
56$895,549$717,004$669,788$918,923
57$941,058$706,300$646,388$950,807
58$989,765$693,627$620,761$984,677
59$1,041,950$678,845$592,786$1,020,722
60$1,097,922$661,801$562,337$1,059,151
61$1,158,019$642,338$529,284$1,100,195
62$1,222,611$620,287$493,489$1,144,110
63$1,292,105$595,468$454,809$1,191,179
64$1,366,948$567,695$413,094$1,241,713
65$1,447,632$536,767$368,187$1,296,058
66$1,534,695$502,473$319,926$1,354,595
67$1,628,729$464,589$268,139$1,417,746
68$1,730,386$422,881$212,648$1,485,976
69$1,840,381$377,098$153,267$1,559,801
70$1,959,500$326,976$89,803$1,639,790
71$2,088,609$272,238$22,051$1,726,570
72$2,228,659$212,589$0$1,820,836
73$2,380,694$147,717$0$1,930,862
74$2,545,865$77,296$0$2,053,992
75$2,725,437$977$0$2,187,898
76$2,920,802$0$0$2,333,651
77$3,133,492$0$0$2,504,102
78$3,365,191$0$0$2,689,970
79$3,617,754$0$0$2,892,605
80$3,893,222$0$0$3,113,650
81$4,193,841$0$0$3,354,909
82$4,522,083$0$0$3,618,373
83$4,880,672$0$0$3,906,230
84$5,272,602$0$0$4,220,890
85$5,701,173$0$0$4,565,006
86$6,170,018$0$0$4,941,500
87$6,683,136$0$0$5,353,589
88$7,244,931$0$0$5,804,815
89$7,860,252$0$0$6,299,078
90$8,534,441$0$0$6,840,674
91$9,273,379$0$0$7,434,335
92$10,083,545$0$0$8,085,270
93$10,972,072$0$0$8,799,218
94$11,946,818$0$0$9,582,501
95$13,016,441$0$0$10,442,080
96$14,190,472$0$0$11,385,624
97$15,479,416$0$0$12,421,580
98$16,894,839$0$0$13,559,256
99$18,449,485$0$0$14,808,900
100$20,157,394$0$0$16,181,805