Can I retire at age 53 with 703,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%14.3%
1 years$58,053$57,536$57,031$56,539$56,058$55,062
2 years$28,739$28,204$27,685$27,182$26,694$25,694
3 years$18,969$18,432$17,914$17,416$16,936$15,962
4 years$14,085$13,549$13,037$12,547$12,079$11,140
5 years$11,155$10,623$10,117$9,637$9,182$8,281
6 years$9,203$8,674$8,176$7,707$7,266$6,402
7 years$7,809$7,285$6,794$6,336$5,909$5,084
8 years$6,764$6,244$5,762$5,316$4,902$4,116
9 years$5,951$5,437$4,963$4,528$4,128$3,380
10 years$5,302$4,792$4,327$3,903$3,517$2,806
11 years$4,771$4,266$3,809$3,397$3,025$2,350
12 years$4,328$3,829$3,381$2,979$2,621$1,982
13 years$3,954$3,460$3,020$2,630$2,286$1,681
14 years$3,634$3,145$2,714$2,335$2,004$1,433
15 years$3,357$2,873$2,450$2,082$1,764$1,226
16 years$3,115$2,636$2,221$1,864$1,559$1,052
17 years$2,901$2,428$2,021$1,675$1,383$905
18 years$2,711$2,244$1,845$1,510$1,229$781
19 years$2,542$2,079$1,689$1,364$1,096$675
20 years$2,389$1,932$1,550$1,236$979$584
21 years$2,252$1,800$1,426$1,121$876$506
22 years$2,127$1,680$1,314$1,020$785$439
23 years$2,013$1,571$1,214$928$705$382
24 years$1,908$1,472$1,122$847$633$332
25 years$1,812$1,382$1,039$773$570$289
26 years$1,724$1,298$964$707$513$252
27 years$1,643$1,222$895$647$463$219
28 years$1,567$1,151$832$593$418$191
29 years$1,497$1,086$774$544$377$167
30 years$1,431$1,026$721$499$341$145
31 years$1,370$970$673$458$308$127
32 years$1,313$918$627$421$279$111
33 years$1,259$869$586$387$252$97
34 years$1,209$824$547$356$228$85
35 years$1,161$781$512$328$207$74
36 years$1,117$741$479$302$187$65
37 years$1,074$704$448$278$170$56
38 years$1,035$669$420$257$154$49
39 years$997$636$393$237$140$43
40 years$961$605$369$218$127$38
41 years$927$576$346$201$115$33
42 years$895$549$324$186$104$29
43 years$864$523$304$172$95$25
44 years$835$499$286$158$86$22
45 years$807$475$268$146$78$19
46 years$781$454$252$135$71$17
47 years$756$433$237$125$64$15
48 years$732$413$222$115$58$13
49 years$708$395$209$107$53$11
50 years$686$377$196$99$48$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $703,000, adding $2,696 every year, while hoping to spend $40,319 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: 39/45/16 Blend
52$703,000$703,000$703,000$703,000
53$777,487$740,228$729,331$803,988
54$813,891$733,600$710,865$816,521
55$852,658$725,296$690,428$825,974
56$893,985$715,191$667,914$835,336
57$938,089$703,153$643,207$844,620
58$985,209$689,043$616,189$853,842
59$1,035,605$672,711$586,736$863,024
60$1,089,564$654,001$554,719$872,194
61$1,147,399$632,746$520,001$881,386
62$1,209,454$608,771$482,441$890,640
63$1,276,107$581,889$441,892$900,008
64$1,347,772$551,904$398,197$909,548
65$1,424,904$518,606$351,196$919,331
66$1,508,003$481,777$300,720$929,441
67$1,597,617$441,182$246,592$939,974
68$1,694,350$396,576$188,629$951,042
69$1,798,863$347,697$126,637$962,776
70$1,911,885$294,272$60,417$975,326
71$2,034,215$236,010$0$988,864
72$2,166,734$172,603$0$1,005,336
73$2,310,408$103,728$0$1,034,340
74$2,466,301$29,042$0$1,065,845
75$2,635,582$0$0$1,100,183
76$2,819,538$0$0$1,163,385
77$3,019,584$0$0$1,247,836
78$3,237,277$0$0$1,339,824
79$3,474,330$0$0$1,440,082
80$3,732,629$0$0$1,549,421
81$4,014,247$0$0$1,668,728
82$4,321,468$0$0$1,798,986
83$4,656,805$0$0$1,941,271
84$5,023,026$0$0$2,096,771
85$5,423,174$0$0$2,266,793
86$5,860,603$0$0$2,452,776
87$6,339,004$0$0$2,656,304
88$6,862,442$0$0$2,879,123
89$7,435,391$0$0$3,123,153
90$8,062,780$0$0$3,390,511
91$8,750,035$0$0$3,683,526
92$9,503,134$0$0$4,004,765
93$10,328,657$0$0$4,357,054
94$11,233,854$0$0$4,743,507
95$12,226,708$0$0$5,167,552
96$13,316,015$0$0$5,632,966
97$14,511,459$0$0$6,143,909
98$15,823,711$0$0$6,704,965
99$17,264,524$0$0$7,321,181
100$18,846,843$0$0$7,998,119