Can I retire at age 53 with 704,000?

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 $704,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.6%
1 years$58,136$57,618$57,113$56,619$56,138$53,975
2 years$28,780$28,244$27,725$27,221$26,732$24,579
3 years$18,996$18,458$17,940$17,441$16,960$14,884
4 years$14,105$13,568$13,055$12,565$12,096$10,113
5 years$11,171$10,638$10,132$9,651$9,195$7,310
6 years$9,216$8,687$8,188$7,718$7,276$5,491
7 years$7,820$7,295$6,804$6,345$5,917$4,231
8 years$6,773$6,253$5,770$5,323$4,909$3,320
9 years$5,960$5,444$4,970$4,534$4,134$2,640
10 years$5,309$4,799$4,333$3,908$3,522$2,121
11 years$4,777$4,272$3,815$3,401$3,029$1,717
12 years$4,335$3,835$3,385$2,984$2,625$1,398
13 years$3,960$3,465$3,025$2,634$2,289$1,144
14 years$3,639$3,150$2,718$2,338$2,007$940
15 years$3,362$2,877$2,454$2,085$1,767$775
16 years$3,119$2,640$2,225$1,867$1,562$640
17 years$2,905$2,431$2,024$1,678$1,385$530
18 years$2,715$2,247$1,848$1,512$1,231$440
19 years$2,545$2,082$1,692$1,366$1,097$365
20 years$2,393$1,935$1,553$1,237$980$303
21 years$2,255$1,802$1,428$1,123$877$253
22 years$2,130$1,682$1,316$1,021$786$210
23 years$2,015$1,573$1,215$930$706$175
24 years$1,911$1,474$1,124$848$634$146
25 years$1,815$1,384$1,041$774$571$122
26 years$1,727$1,300$965$708$514$102
27 years$1,645$1,224$897$648$464$85
28 years$1,569$1,153$833$594$418$71
29 years$1,499$1,088$776$545$378$59
30 years$1,433$1,027$722$500$341$49
31 years$1,372$971$673$459$309$41
32 years$1,314$919$628$422$279$35
33 years$1,261$870$587$388$253$29
34 years$1,210$825$548$357$229$24
35 years$1,163$782$513$329$207$20
36 years$1,118$743$479$303$188$17
37 years$1,076$705$449$279$170$14
38 years$1,036$670$420$257$154$12
39 years$998$637$394$237$140$10
40 years$962$606$369$219$127$8
41 years$929$577$346$202$115$7
42 years$896$550$325$186$104$6
43 years$866$524$305$172$95$5
44 years$836$499$286$159$86$4
45 years$809$476$268$146$78$3
46 years$782$454$252$135$71$3
47 years$757$433$237$125$64$2
48 years$733$414$223$116$58$2
49 years$709$395$209$107$53$2
50 years$687$377$197$99$48$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $704,000, adding $2,439 every year, while hoping to spend $44,468 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: 44/26/30 Blend
52$704,000$704,000$704,000$704,000
53$778,324$741,012$730,100$805,694
54$810,399$730,008$707,245$814,532
55$844,256$716,974$682,133$819,708
56$880,029$701,765$654,643$824,486
57$917,865$684,224$624,647$828,855
58$957,924$664,188$592,010$832,806
59$1,000,382$641,483$556,592$836,334
60$1,045,431$615,926$518,248$839,435
61$1,093,279$587,321$476,823$842,112
62$1,144,157$555,462$432,160$844,370
63$1,198,313$520,132$384,090$846,219
64$1,256,023$481,101$332,439$847,675
65$1,317,588$438,125$277,026$848,762
66$1,383,336$390,947$217,660$849,509
67$1,453,627$339,295$154,143$849,958
68$1,528,858$282,881$86,268$850,156
69$1,609,462$221,403$13,818$850,164
70$1,695,914$154,538$0$850,055
71$1,788,736$81,950$0$870,244
72$1,888,501$3,279$0$896,549
73$1,995,838$0$0$924,745
74$2,111,436$0$0$978,474
75$2,236,054$0$0$1,037,471
76$2,370,524$0$0$1,101,201
77$2,515,762$0$0$1,170,105
78$2,672,772$0$0$1,244,669
79$2,842,660$0$0$1,325,428
80$3,026,641$0$0$1,412,970
81$3,226,049$0$0$1,507,940
82$3,442,354$0$0$1,611,048
83$3,677,171$0$0$1,723,076
84$3,932,275$0$0$1,844,884
85$4,209,620$0$0$1,977,417
86$4,511,357$0$0$2,121,715
87$4,839,851$0$0$2,278,923
88$5,197,703$0$0$2,450,302
89$5,587,778$0$0$2,637,238
90$6,013,228$0$0$2,841,257
91$6,477,522$0$0$3,064,039
92$6,984,478$0$0$3,307,434
93$7,538,301$0$0$3,573,477
94$8,143,618$0$0$3,864,409
95$8,805,525$0$0$4,182,700
96$9,529,630$0$0$4,531,066
97$10,322,112$0$0$4,912,501
98$11,189,771$0$0$5,330,298
99$12,140,098$0$0$5,788,087
100$13,181,340$0$0$6,289,865