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%14.1%
1 years$57,971$57,454$56,950$56,459$55,978$55,028
2 years$28,698$28,164$27,646$27,144$26,656$25,702
3 years$18,942$18,405$17,889$17,391$16,912$15,983
4 years$14,065$13,530$13,018$12,529$12,062$11,166
5 years$11,140$10,608$10,103$9,624$9,169$8,308
6 years$9,190$8,662$8,165$7,696$7,255$6,431
7 years$7,798$7,274$6,785$6,327$5,900$5,112
8 years$6,754$6,235$5,754$5,308$4,895$4,143
9 years$5,943$5,429$4,956$4,521$4,122$3,406
10 years$5,294$4,785$4,321$3,897$3,512$2,832
11 years$4,764$4,260$3,804$3,392$3,021$2,375
12 years$4,322$3,824$3,376$2,975$2,618$2,006
13 years$3,949$3,456$3,016$2,627$2,283$1,703
14 years$3,629$3,141$2,710$2,332$2,001$1,453
15 years$3,352$2,869$2,447$2,079$1,762$1,245
16 years$3,110$2,633$2,218$1,862$1,557$1,070
17 years$2,897$2,424$2,019$1,673$1,381$922
18 years$2,707$2,240$1,843$1,508$1,228$796
19 years$2,538$2,076$1,687$1,362$1,094$689
20 years$2,386$1,929$1,548$1,234$977$597
21 years$2,248$1,797$1,424$1,120$875$519
22 years$2,124$1,678$1,312$1,018$784$451
23 years$2,010$1,569$1,212$927$704$392
24 years$1,906$1,470$1,121$846$633$342
25 years$1,810$1,380$1,038$772$569$298
26 years$1,722$1,297$963$706$513$260
27 years$1,640$1,220$894$646$462$227
28 years$1,565$1,150$831$592$417$198
29 years$1,494$1,085$773$543$377$173
30 years$1,429$1,024$720$498$340$151
31 years$1,368$968$672$458$308$132
32 years$1,311$916$627$421$278$116
33 years$1,257$868$585$387$252$101
34 years$1,207$822$547$356$228$89
35 years$1,160$780$511$328$207$77
36 years$1,115$740$478$302$187$68
37 years$1,073$703$447$278$170$59
38 years$1,033$668$419$256$154$52
39 years$995$635$393$236$139$46
40 years$960$605$368$218$126$40
41 years$926$576$345$201$115$35
42 years$894$548$324$186$104$31
43 years$863$522$304$171$94$27
44 years$834$498$285$158$86$23
45 years$806$475$268$146$78$21
46 years$780$453$251$135$71$18
47 years$755$432$236$125$64$16
48 years$731$413$222$115$58$14
49 years$707$394$209$106$53$12
50 years$685$376$196$98$48$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $702,000, adding $3,044 every year, while hoping to spend $24,912 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: 62/15/23 Blend
52$702,000$702,000$702,000$702,000
53$776,744$739,538$728,657$820,028
54$829,466$749,269$726,561$859,404
55$886,730$758,642$723,559$899,356
56$948,974$767,613$719,596$942,421
57$1,016,679$776,136$714,612$988,905
58$1,090,373$784,159$708,544$1,039,148
59$1,170,638$791,631$701,328$1,093,523
60$1,258,116$798,493$692,895$1,152,443
61$1,353,511$804,686$683,174$1,216,363
62$1,457,599$810,145$672,090$1,285,785
63$1,571,233$814,802$659,565$1,361,264
64$1,695,355$818,583$645,516$1,443,411
65$1,830,998$821,411$629,858$1,532,900
66$1,979,303$823,203$612,501$1,630,476
67$2,141,523$823,871$593,351$1,736,959
68$2,319,040$823,323$572,310$1,853,256
69$2,513,376$821,458$549,276$1,980,365
70$2,726,203$818,173$524,140$2,119,390
71$2,959,368$813,356$496,790$2,271,546
72$3,214,901$806,887$467,110$2,438,174
73$3,495,039$798,643$434,977$2,620,754
74$3,802,246$788,490$400,261$2,820,918
75$4,139,236$776,286$362,831$3,040,467
76$4,508,997$761,883$322,545$3,281,386
77$4,914,822$745,123$279,257$3,545,864
78$5,360,337$725,837$232,816$3,836,317
79$5,849,537$703,849$183,061$4,155,409
80$6,386,822$678,970$129,826$4,506,077
81$6,977,041$651,002$72,938$4,891,561
82$7,625,532$619,735$12,215$5,315,433
83$8,338,181$584,946$0$5,781,634
84$9,121,467$546,400$0$6,307,413
85$9,982,531$503,848$0$6,888,694
86$10,929,239$457,027$0$7,527,808
87$11,970,260$405,660$0$8,230,633
88$13,115,141$349,452$0$9,003,647
89$14,374,404$288,093$0$9,853,988
90$15,759,639$221,255$0$10,789,525
91$17,283,618$148,593$0$11,818,928
92$18,960,412$69,739$0$12,951,755
93$20,805,526$0$0$14,198,535
94$22,836,043$0$0$15,573,468
95$25,070,786$0$0$17,099,419
96$27,530,495$0$0$18,779,048
97$30,238,022$0$0$20,627,966
98$33,218,549$0$0$22,663,378
99$36,499,822$0$0$24,904,239
100$40,112,413$0$0$27,371,438