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%12%
1 years$57,971$57,454$56,950$56,459$55,978$55,509
2 years$28,698$28,164$27,646$27,144$26,656$26,184
3 years$18,942$18,405$17,889$17,391$16,912$16,450
4 years$14,065$13,530$13,018$12,529$12,062$11,614
5 years$11,140$10,608$10,103$9,624$9,169$8,738
6 years$9,190$8,662$8,165$7,696$7,255$6,840
7 years$7,798$7,274$6,785$6,327$5,900$5,502
8 years$6,754$6,235$5,754$5,308$4,895$4,513
9 years$5,943$5,429$4,956$4,521$4,122$3,757
10 years$5,294$4,785$4,321$3,897$3,512$3,163
11 years$4,764$4,260$3,804$3,392$3,021$2,688
12 years$4,322$3,824$3,376$2,975$2,618$2,300
13 years$3,949$3,456$3,016$2,627$2,283$1,980
14 years$3,629$3,141$2,710$2,332$2,001$1,714
15 years$3,352$2,869$2,447$2,079$1,762$1,489
16 years$3,110$2,633$2,218$1,862$1,557$1,298
17 years$2,897$2,424$2,019$1,673$1,381$1,136
18 years$2,707$2,240$1,843$1,508$1,228$996
19 years$2,538$2,076$1,687$1,362$1,094$875
20 years$2,386$1,929$1,548$1,234$977$770
21 years$2,248$1,797$1,424$1,120$875$679
22 years$2,124$1,678$1,312$1,018$784$600
23 years$2,010$1,569$1,212$927$704$531
24 years$1,906$1,470$1,121$846$633$470
25 years$1,810$1,380$1,038$772$569$416
26 years$1,722$1,297$963$706$513$369
27 years$1,640$1,220$894$646$462$328
28 years$1,565$1,150$831$592$417$291
29 years$1,494$1,085$773$543$377$259
30 years$1,429$1,024$720$498$340$230
31 years$1,368$968$672$458$308$205
32 years$1,311$916$627$421$278$182
33 years$1,257$868$585$387$252$162
34 years$1,207$822$547$356$228$144
35 years$1,160$780$511$328$207$129
36 years$1,115$740$478$302$187$115
37 years$1,073$703$447$278$170$102
38 years$1,033$668$419$256$154$91
39 years$995$635$393$236$139$81
40 years$960$605$368$218$126$72
41 years$926$576$345$201$115$65
42 years$894$548$324$186$104$58
43 years$863$522$304$171$94$51
44 years$834$498$285$158$86$46
45 years$806$475$268$146$78$41
46 years$780$453$251$135$71$36
47 years$755$432$236$125$64$33
48 years$731$413$222$115$58$29
49 years$707$394$209$106$53$26
50 years$685$376$196$98$48$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $702,000, adding $5,081 every year, while hoping to spend $34,827 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: 48/28/24 Blend
52$702,000$702,000$702,000$702,000
53$778,845$741,639$730,758$810,699
54$821,232$740,924$718,183$832,781
55$866,774$739,006$704,019$852,878
56$915,758$735,790$688,177$874,000
57$968,497$731,175$670,562$896,259
58$1,025,334$725,053$651,076$919,782
59$1,086,646$717,309$629,615$944,710
60$1,152,850$707,823$606,073$971,200
61$1,224,400$696,466$580,336$999,427
62$1,301,798$683,102$552,287$1,029,587
63$1,385,595$667,587$521,802$1,061,900
64$1,476,396$649,769$488,752$1,096,608
65$1,574,867$629,487$453,004$1,133,983
66$1,681,740$606,568$414,416$1,174,328
67$1,797,821$580,833$372,843$1,217,979
68$1,923,995$552,090$328,129$1,265,311
69$2,061,237$520,137$280,116$1,316,739
70$2,210,618$484,760$228,636$1,372,727
71$2,373,320$445,732$173,513$1,433,790
72$2,550,640$402,813$114,567$1,500,498
73$2,744,006$355,752$51,606$1,573,485
74$2,954,991$304,281$0$1,653,457
75$3,185,327$248,117$0$1,745,185
76$3,436,918$186,962$0$1,859,907
77$3,711,861$120,502$0$1,985,411
78$4,012,467$48,402$0$2,122,820
79$4,341,278$0$0$2,273,376
80$4,701,093$0$0$2,447,596
81$5,094,995$0$0$2,654,723
82$5,526,378$0$0$2,881,637
83$5,998,980$0$0$3,130,314
84$6,516,918$0$0$3,402,931
85$7,084,727$0$0$3,701,885
86$7,707,399$0$0$4,029,816
87$8,390,434$0$0$4,389,631
88$9,139,891$0$0$4,784,534
89$9,962,442$0$0$5,218,052
90$10,865,437$0$0$5,694,072
91$11,856,973$0$0$6,216,876
92$12,945,968$0$0$6,791,178
93$14,142,247$0$0$7,422,175
94$15,456,634$0$0$8,115,591
95$16,901,053$0$0$8,877,729
96$18,488,640$0$0$9,715,538
97$20,233,866$0$0$10,636,671
98$22,152,676$0$0$11,649,558
99$24,262,636$0$0$12,763,490
100$26,583,099$0$0$13,988,702