Can I retire at age 53 with 704,000?

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 $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%17.4%
1 years$58,136$57,618$57,113$56,619$56,138$54,450
2 years$28,780$28,244$27,725$27,221$26,732$25,046
3 years$18,996$18,458$17,940$17,441$16,960$15,328
4 years$14,105$13,568$13,055$12,565$12,096$10,531
5 years$11,171$10,638$10,132$9,651$9,195$7,702
6 years$9,216$8,687$8,188$7,718$7,276$5,855
7 years$7,820$7,295$6,804$6,345$5,917$4,569
8 years$6,773$6,253$5,770$5,323$4,909$3,632
9 years$5,960$5,444$4,970$4,534$4,134$2,927
10 years$5,309$4,799$4,333$3,908$3,522$2,384
11 years$4,777$4,272$3,815$3,401$3,029$1,958
12 years$4,335$3,835$3,385$2,984$2,625$1,618
13 years$3,960$3,465$3,025$2,634$2,289$1,344
14 years$3,639$3,150$2,718$2,338$2,007$1,121
15 years$3,362$2,877$2,454$2,085$1,767$939
16 years$3,119$2,640$2,225$1,867$1,562$788
17 years$2,905$2,431$2,024$1,678$1,385$663
18 years$2,715$2,247$1,848$1,512$1,231$559
19 years$2,545$2,082$1,692$1,366$1,097$472
20 years$2,393$1,935$1,553$1,237$980$399
21 years$2,255$1,802$1,428$1,123$877$338
22 years$2,130$1,682$1,316$1,021$786$286
23 years$2,015$1,573$1,215$930$706$243
24 years$1,911$1,474$1,124$848$634$206
25 years$1,815$1,384$1,041$774$571$175
26 years$1,727$1,300$965$708$514$149
27 years$1,645$1,224$897$648$464$126
28 years$1,569$1,153$833$594$418$107
29 years$1,499$1,088$776$545$378$91
30 years$1,433$1,027$722$500$341$78
31 years$1,372$971$673$459$309$66
32 years$1,314$919$628$422$279$56
33 years$1,261$870$587$388$253$48
34 years$1,210$825$548$357$229$41
35 years$1,163$782$513$329$207$35
36 years$1,118$743$479$303$188$30
37 years$1,076$705$449$279$170$25
38 years$1,036$670$420$257$154$21
39 years$998$637$394$237$140$18
40 years$962$606$369$219$127$16
41 years$929$577$346$202$115$13
42 years$896$550$325$186$104$11
43 years$866$524$305$172$95$10
44 years$836$499$286$159$86$8
45 years$809$476$268$146$78$7
46 years$782$454$252$135$71$6
47 years$757$433$237$125$64$5
48 years$733$414$223$116$58$4
49 years$709$395$209$107$53$4
50 years$687$377$197$99$48$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $704,000, adding $2,556 every year, while hoping to spend $38,655 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: 68/27/5 Blend
52$704,000$704,000$704,000$704,000
53$778,445$741,133$730,221$830,758
54$816,717$736,319$713,554$860,902
55$857,598$729,975$695,034$888,891
56$901,313$721,983$674,557$918,440
57$948,108$712,221$652,016$949,693
58$998,254$700,559$627,298$982,810
59$1,052,048$686,859$600,285$1,017,969
60$1,109,817$670,975$570,854$1,055,366
61$1,171,917$652,752$538,876$1,095,219
62$1,238,742$632,026$504,218$1,137,769
63$1,310,723$608,624$466,738$1,183,284
64$1,388,333$582,363$426,291$1,232,058
65$1,472,092$553,049$382,721$1,284,419
66$1,562,573$520,475$335,869$1,340,728
67$1,660,403$484,426$285,569$1,401,387
68$1,766,273$444,672$231,644$1,466,839
69$1,880,942$400,970$173,913$1,537,575
70$2,005,244$353,063$112,185$1,614,137
71$2,140,096$300,681$46,261$1,697,127
72$2,286,509$243,538$0$1,787,209
73$2,445,592$181,330$0$1,886,403
74$2,618,566$113,738$0$1,996,955
75$2,806,774$40,426$0$2,117,305
76$3,011,694$0$0$2,248,459
77$3,234,953$0$0$2,403,107
78$3,478,341$0$0$2,584,830
79$3,743,827$0$0$2,783,091
80$4,033,579$0$0$2,999,514
81$4,349,985$0$0$3,235,889
82$4,695,670$0$0$3,494,182
83$5,073,529$0$0$3,776,560
84$5,486,744$0$0$4,085,408
85$5,938,822$0$0$4,423,354
86$6,433,623$0$0$4,793,289
87$6,975,399$0$0$5,198,399
88$7,568,831$0$0$5,642,189
89$8,219,075$0$0$6,128,523
90$8,931,807$0$0$6,661,655
91$9,713,281$0$0$7,246,268
92$10,570,383$0$0$7,887,524
93$11,510,701$0$0$8,591,105
94$12,542,587$0$0$9,363,271
95$13,675,247$0$0$10,210,919
96$14,918,818$0$0$11,141,643
97$16,284,467$0$0$12,163,811
98$17,784,496$0$0$13,286,640
99$19,432,456$0$0$14,520,285
100$21,243,278$0$0$15,875,931