Can I retire at age 53 with 705,000?

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 $705,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$58,218$57,700$57,194$56,700$56,218$54,659
2 years$28,821$28,284$27,764$27,260$26,770$25,212
3 years$19,023$18,484$17,965$17,465$16,984$15,474
4 years$14,125$13,588$13,074$12,583$12,113$10,664
5 years$11,187$10,653$10,146$9,665$9,208$7,823
6 years$9,229$8,699$8,199$7,729$7,286$5,967
7 years$7,831$7,305$6,814$6,354$5,926$4,672
8 years$6,783$6,262$5,779$5,331$4,916$3,727
9 years$5,968$5,452$4,977$4,541$4,140$3,015
10 years$5,317$4,806$4,339$3,914$3,527$2,465
11 years$4,784$4,278$3,820$3,406$3,034$2,032
12 years$4,341$3,840$3,390$2,988$2,629$1,686
13 years$3,966$3,470$3,029$2,638$2,292$1,406
14 years$3,645$3,154$2,722$2,342$2,010$1,178
15 years$3,366$2,882$2,457$2,088$1,769$990
16 years$3,123$2,644$2,228$1,870$1,564$835
17 years$2,909$2,435$2,027$1,680$1,387$706
18 years$2,719$2,250$1,851$1,514$1,233$598
19 years$2,549$2,085$1,694$1,368$1,099$507
20 years$2,396$1,938$1,555$1,239$982$431
21 years$2,258$1,805$1,430$1,124$878$366
22 years$2,133$1,685$1,318$1,022$787$312
23 years$2,018$1,576$1,217$931$707$266
24 years$1,914$1,476$1,126$849$635$226
25 years$1,818$1,385$1,042$776$572$193
26 years$1,729$1,302$967$709$515$165
27 years$1,647$1,225$898$649$464$141
28 years$1,571$1,155$835$595$419$120
29 years$1,501$1,089$777$545$378$103
30 years$1,435$1,029$723$501$342$88
31 years$1,374$973$674$460$309$75
32 years$1,316$920$629$422$279$64
33 years$1,263$871$588$388$253$55
34 years$1,212$826$549$357$229$47
35 years$1,164$783$513$329$207$40
36 years$1,120$744$480$303$188$34
37 years$1,077$706$449$279$170$29
38 years$1,037$671$421$257$154$25
39 years$1,000$638$394$237$140$22
40 years$964$607$370$219$127$18
41 years$930$578$347$202$115$16
42 years$898$550$325$186$105$14
43 years$867$524$305$172$95$12
44 years$838$500$286$159$86$10
45 years$810$477$269$147$78$8
46 years$783$455$253$136$71$7
47 years$758$434$237$125$64$6
48 years$734$414$223$116$59$5
49 years$710$396$210$107$53$5
50 years$688$378$197$99$48$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $705,000, adding $6,708 every year, while hoping to spend $52,140 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: 66/20/14 Blend
52$705,000$705,000$705,000$705,000
53$783,829$746,464$735,537$832,562
54$808,303$727,564$704,701$847,040
55$833,526$705,991$671,084$856,138
56$859,519$681,558$634,539$864,777
57$886,304$654,068$594,910$872,909
58$913,903$623,314$552,036$880,483
59$942,339$589,074$505,747$887,446
60$971,635$551,116$455,866$893,740
61$1,001,814$509,193$402,210$899,303
62$1,032,900$463,044$344,585$904,070
63$1,064,917$412,395$282,790$907,973
64$1,097,890$356,953$216,615$910,937
65$1,131,843$296,412$145,840$912,885
66$1,166,802$230,447$70,236$913,733
67$1,202,790$158,714$0$913,394
68$1,239,835$80,850$0$913,334
69$1,277,960$0$0$923,191
70$1,317,191$0$0$933,172
71$1,357,553$0$0$961,746
72$1,399,072$0$0$991,136
73$1,441,772$0$0$1,021,360
74$1,485,676$0$0$1,052,434
75$1,530,810$0$0$1,084,374
76$1,577,196$0$0$1,117,197
77$1,624,855$0$0$1,150,918
78$1,673,810$0$0$1,185,551
79$1,724,079$0$0$1,221,110
80$1,775,681$0$0$1,257,607
81$1,828,633$0$0$1,295,052
82$1,882,948$0$0$1,333,456
83$1,938,640$0$0$1,372,826
84$1,995,716$0$0$1,413,167
85$2,054,183$0$0$1,454,483
86$2,114,043$0$0$1,496,774
87$2,175,294$0$0$1,540,038
88$2,237,930$0$0$1,584,268
89$2,301,938$0$0$1,629,455
90$2,367,301$0$0$1,675,584
91$2,433,994$0$0$1,722,636
92$2,501,985$0$0$1,770,586
93$2,571,232$0$0$1,819,402
94$2,641,684$0$0$1,869,046
95$2,713,280$0$0$1,919,472
96$2,785,947$0$0$1,970,624
97$2,859,597$0$0$2,022,438
98$2,934,128$0$0$2,074,838
99$3,009,421$0$0$2,127,735
100$3,085,338$0$0$2,181,027