Can I retire at age 53 with 703,000?

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 $703,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.4%
1 years$58,053$57,536$57,031$56,539$56,058$54,155
2 years$28,739$28,204$27,685$27,182$26,694$24,796
3 years$18,969$18,432$17,914$17,416$16,936$15,103
4 years$14,085$13,549$13,037$12,547$12,079$10,324
5 years$11,155$10,623$10,117$9,637$9,182$7,510
6 years$9,203$8,674$8,176$7,707$7,266$5,678
7 years$7,809$7,285$6,794$6,336$5,909$4,406
8 years$6,764$6,244$5,762$5,316$4,902$3,482
9 years$5,951$5,437$4,963$4,528$4,128$2,789
10 years$5,302$4,792$4,327$3,903$3,517$2,258
11 years$4,771$4,266$3,809$3,397$3,025$1,842
12 years$4,328$3,829$3,381$2,979$2,621$1,512
13 years$3,954$3,460$3,020$2,630$2,286$1,248
14 years$3,634$3,145$2,714$2,335$2,004$1,034
15 years$3,357$2,873$2,450$2,082$1,764$859
16 years$3,115$2,636$2,221$1,864$1,559$716
17 years$2,901$2,428$2,021$1,675$1,383$598
18 years$2,711$2,244$1,845$1,510$1,229$501
19 years$2,542$2,079$1,689$1,364$1,096$419
20 years$2,389$1,932$1,550$1,236$979$352
21 years$2,252$1,800$1,426$1,121$876$296
22 years$2,127$1,680$1,314$1,020$785$249
23 years$2,013$1,571$1,214$928$705$209
24 years$1,908$1,472$1,122$847$633$176
25 years$1,812$1,382$1,039$773$570$148
26 years$1,724$1,298$964$707$513$125
27 years$1,643$1,222$895$647$463$105
28 years$1,567$1,151$832$593$418$89
29 years$1,497$1,086$774$544$377$75
30 years$1,431$1,026$721$499$341$63
31 years$1,370$970$673$458$308$53
32 years$1,313$918$627$421$279$45
33 years$1,259$869$586$387$252$38
34 years$1,209$824$547$356$228$32
35 years$1,161$781$512$328$207$27
36 years$1,117$741$479$302$187$23
37 years$1,074$704$448$278$170$19
38 years$1,035$669$420$257$154$16
39 years$997$636$393$237$140$14
40 years$961$605$369$218$127$12
41 years$927$576$346$201$115$10
42 years$895$549$324$186$104$8
43 years$864$523$304$172$95$7
44 years$835$499$286$158$86$6
45 years$807$475$268$146$78$5
46 years$781$454$252$135$71$4
47 years$756$433$237$125$64$4
48 years$732$413$222$115$58$3
49 years$708$395$209$107$53$3
50 years$686$377$196$99$48$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $703,000, adding $3,773 every year, while hoping to spend $37,786 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: 56/20/24 Blend
52$703,000$703,000$703,000$703,000
53$778,598$741,339$730,442$816,908
54$817,811$737,460$714,708$839,697
55$859,757$732,126$697,180$860,210
56$904,676$725,223$677,759$881,763
57$952,828$716,635$656,340$904,465
58$1,004,503$706,236$632,813$928,442
59$1,060,014$693,893$607,065$953,830
60$1,119,709$679,467$578,975$980,786
61$1,183,967$662,809$548,418$1,009,481
62$1,253,206$643,761$515,264$1,040,108
63$1,327,884$622,157$479,377$1,072,881
64$1,408,506$597,820$440,613$1,108,039
65$1,495,623$570,563$398,824$1,145,847
66$1,589,846$540,190$353,854$1,186,600
67$1,691,842$506,490$305,539$1,230,627
68$1,802,346$469,244$253,711$1,278,294
69$1,922,166$428,219$198,191$1,330,006
70$2,052,191$383,166$138,795$1,386,213
71$2,193,399$333,825$75,330$1,447,418
72$2,346,865$279,922$7,592$1,514,175
73$2,513,771$221,163$0$1,587,101
74$2,695,418$157,243$0$1,683,447
75$2,893,238$87,836$0$1,790,557
76$3,108,807$12,598$0$1,907,383
77$3,343,859$0$0$2,034,921
78$3,600,301$0$0$2,189,414
79$3,880,235$0$0$2,361,146
80$4,185,972$0$0$2,548,770
81$4,520,057$0$0$2,753,855
82$4,885,294$0$0$2,978,129
83$5,284,767$0$0$3,223,496
84$5,721,872$0$0$3,492,051
85$6,200,352$0$0$3,786,101
86$6,724,324$0$0$4,108,186
87$7,298,325$0$0$4,461,105
88$7,927,349$0$0$4,847,939
89$8,616,899$0$0$5,272,083
90$9,373,033$0$0$5,737,272
91$10,202,425$0$0$6,247,626
92$11,112,425$0$0$6,807,677
93$12,111,129$0$0$7,422,422
94$13,207,457$0$0$8,097,363
95$14,411,231$0$0$8,838,559
96$15,733,274$0$0$9,652,689
97$17,185,506$0$0$10,547,106
98$18,781,059$0$0$11,529,914
99$20,534,403$0$0$12,610,040
100$22,461,474$0$0$13,797,316