Can I retire at age 53 with 706,000?

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 $706,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.1%
1 years$58,301$57,782$57,275$56,780$56,297$55,342
2 years$28,862$28,324$27,803$27,298$26,808$25,849
3 years$19,050$18,510$17,991$17,490$17,008$16,074
4 years$14,145$13,607$13,093$12,601$12,130$11,229
5 years$11,203$10,668$10,160$9,679$9,221$8,356
6 years$9,242$8,711$8,211$7,740$7,297$6,467
7 years$7,842$7,316$6,823$6,364$5,934$5,142
8 years$6,793$6,271$5,787$5,338$4,923$4,167
9 years$5,977$5,460$4,984$4,547$4,146$3,426
10 years$5,324$4,813$4,345$3,920$3,532$2,848
11 years$4,791$4,284$3,826$3,411$3,038$2,388
12 years$4,347$3,845$3,395$2,992$2,633$2,017
13 years$3,971$3,475$3,033$2,642$2,296$1,713
14 years$3,650$3,159$2,725$2,345$2,012$1,462
15 years$3,371$2,886$2,461$2,091$1,772$1,252
16 years$3,128$2,648$2,231$1,872$1,566$1,076
17 years$2,913$2,438$2,030$1,682$1,389$927
18 years$2,723$2,253$1,853$1,516$1,235$801
19 years$2,553$2,088$1,697$1,370$1,100$693
20 years$2,399$1,940$1,557$1,241$983$601
21 years$2,261$1,807$1,432$1,126$880$522
22 years$2,136$1,687$1,320$1,024$788$453
23 years$2,021$1,578$1,219$932$708$395
24 years$1,916$1,478$1,127$850$636$344
25 years$1,820$1,387$1,044$777$572$300
26 years$1,731$1,304$968$710$516$261
27 years$1,650$1,227$899$650$465$228
28 years$1,574$1,156$836$596$419$199
29 years$1,503$1,091$778$546$379$174
30 years$1,437$1,030$724$501$342$152
31 years$1,376$974$675$460$309$133
32 years$1,318$922$630$423$280$116
33 years$1,264$873$588$389$253$102
34 years$1,214$827$550$358$229$89
35 years$1,166$785$514$330$208$78
36 years$1,121$745$481$303$188$68
37 years$1,079$707$450$280$171$60
38 years$1,039$672$421$258$155$52
39 years$1,001$639$395$238$140$46
40 years$965$608$370$219$127$40
41 years$931$579$347$202$115$35
42 years$899$551$326$187$105$31
43 years$868$525$305$172$95$27
44 years$839$501$287$159$86$24
45 years$811$477$269$147$78$21
46 years$784$455$253$136$71$18
47 years$759$435$238$125$65$16
48 years$735$415$223$116$59$14
49 years$712$396$210$107$53$12
50 years$689$378$197$99$48$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $706,000, adding $3,386 every year, while hoping to spend $37,971 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: 37/38/25 Blend
52$706,000$706,000$706,000$706,000
53$781,505$744,087$733,144$804,458
54$820,817$740,146$717,303$817,666
55$862,867$734,740$699,659$828,180
56$907,893$727,756$680,112$838,789
57$956,158$719,076$658,555$849,526
58$1,007,949$708,573$634,880$860,431
59$1,063,583$696,116$608,971$871,548
60$1,123,404$681,562$580,707$882,931
61$1,187,795$664,761$549,964$894,645
62$1,257,172$645,557$516,610$906,762
63$1,331,995$623,780$480,508$919,367
64$1,412,767$599,254$441,514$932,559
65$1,500,042$571,791$399,478$946,448
66$1,594,430$541,192$354,243$961,165
67$1,696,599$507,247$305,647$976,856
68$1,807,284$469,735$253,519$993,688
69$1,927,295$428,419$197,679$1,011,852
70$2,057,520$383,053$137,943$1,031,563
71$2,198,938$333,374$74,115$1,053,065
72$2,352,625$279,104$5,993$1,076,635
73$2,519,763$219,951$0$1,102,583
74$2,701,656$155,605$0$1,149,053
75$2,899,735$85,740$0$1,201,510
76$3,115,577$10,010$0$1,258,858
77$3,350,917$0$0$1,321,658
78$3,607,665$0$0$1,420,620
79$3,887,922$0$0$1,533,306
80$4,194,003$0$0$1,656,470
81$4,528,453$0$0$1,791,151
82$4,894,076$0$0$1,938,489
83$5,293,961$0$0$2,099,742
84$5,731,505$0$0$2,276,293
85$6,210,453$0$0$2,469,668
86$6,734,924$0$0$2,681,545
87$7,309,458$0$0$2,913,772
88$7,939,053$0$0$3,168,385
89$8,629,214$0$0$3,447,628
90$9,386,003$0$0$3,753,969
91$10,216,097$0$0$4,090,130
92$11,126,852$0$0$4,459,107
93$12,126,369$0$0$4,864,200
94$13,223,570$0$0$5,309,047
95$14,428,286$0$0$5,797,652
96$15,751,344$0$0$6,334,427
97$17,204,672$0$0$6,924,234
98$18,801,411$0$0$7,572,428
99$20,556,035$0$0$8,284,909
100$22,484,493$0$0$9,068,175