Can I retire at age 53 with 702,000?

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 $702,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$57,971$57,454$56,950$56,459$55,978$55,556
2 years$28,698$28,164$27,646$27,144$26,656$26,230
3 years$18,942$18,405$17,889$17,391$16,912$16,496
4 years$14,065$13,530$13,018$12,529$12,062$11,658
5 years$11,140$10,608$10,103$9,624$9,169$8,780
6 years$9,190$8,662$8,165$7,696$7,255$6,881
7 years$7,798$7,274$6,785$6,327$5,900$5,541
8 years$6,754$6,235$5,754$5,308$4,895$4,550
9 years$5,943$5,429$4,956$4,521$4,122$3,792
10 years$5,294$4,785$4,321$3,897$3,512$3,197
11 years$4,764$4,260$3,804$3,392$3,021$2,719
12 years$4,322$3,824$3,376$2,975$2,618$2,330
13 years$3,949$3,456$3,016$2,627$2,283$2,009
14 years$3,629$3,141$2,710$2,332$2,001$1,741
15 years$3,352$2,869$2,447$2,079$1,762$1,514
16 years$3,110$2,633$2,218$1,862$1,557$1,322
17 years$2,897$2,424$2,019$1,673$1,381$1,158
18 years$2,707$2,240$1,843$1,508$1,228$1,017
19 years$2,538$2,076$1,687$1,362$1,094$895
20 years$2,386$1,929$1,548$1,234$977$789
21 years$2,248$1,797$1,424$1,120$875$697
22 years$2,124$1,678$1,312$1,018$784$616
23 years$2,010$1,569$1,212$927$704$546
24 years$1,906$1,470$1,121$846$633$484
25 years$1,810$1,380$1,038$772$569$430
26 years$1,722$1,297$963$706$513$382
27 years$1,640$1,220$894$646$462$339
28 years$1,565$1,150$831$592$417$302
29 years$1,494$1,085$773$543$377$269
30 years$1,429$1,024$720$498$340$239
31 years$1,368$968$672$458$308$213
32 years$1,311$916$627$421$278$190
33 years$1,257$868$585$387$252$169
34 years$1,207$822$547$356$228$151
35 years$1,160$780$511$328$207$135
36 years$1,115$740$478$302$187$120
37 years$1,073$703$447$278$170$107
38 years$1,033$668$419$256$154$96
39 years$995$635$393$236$139$86
40 years$960$605$368$218$126$77
41 years$926$576$345$201$115$68
42 years$894$548$324$186$104$61
43 years$863$522$304$171$94$55
44 years$834$498$285$158$86$49
45 years$806$475$268$146$78$44
46 years$780$453$251$135$71$39
47 years$755$432$236$125$64$35
48 years$731$413$222$115$58$31
49 years$707$394$209$106$53$28
50 years$685$376$196$98$48$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $702,000, adding $5,104 every year, while hoping to spend $42,196 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: 77/8/15 Blend
52$702,000$702,000$702,000$702,000
53$778,869$741,663$730,782$835,971
54$813,417$733,108$710,367$865,792
55$850,075$722,720$687,854$892,660
56$889,014$710,364$663,127$920,958
57$930,419$695,898$636,068$950,815
58$974,496$679,171$606,550$982,372
59$1,021,467$660,023$574,443$1,015,785
60$1,071,578$638,286$539,608$1,051,226
61$1,125,097$613,779$501,903$1,088,886
62$1,182,318$586,316$461,177$1,128,976
63$1,243,563$555,693$417,275$1,171,727
64$1,309,185$521,701$370,033$1,217,397
65$1,379,572$484,115$319,279$1,266,270
66$1,455,150$442,697$264,836$1,318,659
67$1,536,384$397,199$206,517$1,374,910
68$1,623,788$347,354$144,128$1,435,406
69$1,717,924$292,884$77,466$1,500,570
70$1,819,410$233,493$6,319$1,570,868
71$1,928,924$168,869$0$1,646,816
72$2,047,213$98,682$0$1,740,124
73$2,175,096$22,585$0$1,842,085
74$2,313,474$0$0$1,952,419
75$2,463,336$0$0$2,077,196
76$2,625,772$0$0$2,214,619
77$2,801,978$0$0$2,363,713
78$2,993,271$0$0$2,525,596
79$3,201,099$0$0$2,701,495
80$3,427,055$0$0$2,892,763
81$3,672,890$0$0$3,100,884
82$3,940,534$0$0$3,327,496
83$4,232,107$0$0$3,574,397
84$4,549,944$0$0$3,843,567
85$4,896,614$0$0$4,137,188
86$5,274,946$0$0$4,457,658
87$5,688,053$0$0$4,807,617
88$6,139,361$0$0$5,189,974
89$6,632,643$0$0$5,607,929
90$7,172,052$0$0$6,065,005
91$7,762,161$0$0$6,565,082
92$8,408,007$0$0$7,112,433
93$9,115,133$0$0$7,711,761
94$9,889,645$0$0$8,368,248
95$10,738,268$0$0$9,087,598
96$11,668,407$0$0$9,876,094
97$12,688,217$0$0$10,740,655
98$13,806,681$0$0$11,688,904
99$15,033,692$0$0$12,729,234
100$16,380,149$0$0$13,870,892