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%15.9%
1 years$58,301$57,782$57,275$56,780$56,297$54,936
2 years$28,862$28,324$27,803$27,298$26,808$25,445
3 years$19,050$18,510$17,991$17,490$17,008$15,686
4 years$14,145$13,607$13,093$12,601$12,130$10,859
5 years$11,203$10,668$10,160$9,679$9,221$8,004
6 years$9,242$8,711$8,211$7,740$7,297$6,135
7 years$7,842$7,316$6,823$6,364$5,934$4,828
8 years$6,793$6,271$5,787$5,338$4,923$3,872
9 years$5,977$5,460$4,984$4,547$4,146$3,149
10 years$5,324$4,813$4,345$3,920$3,532$2,589
11 years$4,791$4,284$3,826$3,411$3,038$2,147
12 years$4,347$3,845$3,395$2,992$2,633$1,792
13 years$3,971$3,475$3,033$2,642$2,296$1,504
14 years$3,650$3,159$2,725$2,345$2,012$1,267
15 years$3,371$2,886$2,461$2,091$1,772$1,072
16 years$3,128$2,648$2,231$1,872$1,566$910
17 years$2,913$2,438$2,030$1,682$1,389$774
18 years$2,723$2,253$1,853$1,516$1,235$660
19 years$2,553$2,088$1,697$1,370$1,100$563
20 years$2,399$1,940$1,557$1,241$983$482
21 years$2,261$1,807$1,432$1,126$880$413
22 years$2,136$1,687$1,320$1,024$788$354
23 years$2,021$1,578$1,219$932$708$304
24 years$1,916$1,478$1,127$850$636$261
25 years$1,820$1,387$1,044$777$572$224
26 years$1,731$1,304$968$710$516$193
27 years$1,650$1,227$899$650$465$166
28 years$1,574$1,156$836$596$419$143
29 years$1,503$1,091$778$546$379$123
30 years$1,437$1,030$724$501$342$106
31 years$1,376$974$675$460$309$91
32 years$1,318$922$630$423$280$78
33 years$1,264$873$588$389$253$68
34 years$1,214$827$550$358$229$58
35 years$1,166$785$514$330$208$50
36 years$1,121$745$481$303$188$43
37 years$1,079$707$450$280$171$37
38 years$1,039$672$421$258$155$32
39 years$1,001$639$395$238$140$28
40 years$965$608$370$219$127$24
41 years$931$579$347$202$115$21
42 years$899$551$326$187$105$18
43 years$868$525$305$172$95$15
44 years$839$501$287$159$86$13
45 years$811$477$269$147$78$11
46 years$784$455$253$136$71$10
47 years$759$435$238$125$65$9
48 years$735$415$223$116$59$7
49 years$712$396$210$107$53$6
50 years$689$378$197$99$48$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $706,000, adding $6,266 every year, while hoping to spend $57,035 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: 54/34/12 Blend
52$706,000$706,000$706,000$706,000
53$784,475$747,057$736,114$824,074
54$803,807$722,978$700,089$827,610
55$823,199$695,808$660,946$824,749
56$842,597$665,334$618,520$820,311
57$861,940$631,334$572,638$814,159
58$881,158$593,569$523,121$806,144
59$900,172$551,790$469,782$796,107
60$918,893$505,731$412,423$783,876
61$937,221$455,113$350,841$769,266
62$955,044$399,640$284,820$752,079
63$972,235$338,999$214,138$732,100
64$988,652$272,859$138,560$709,098
65$1,004,137$200,871$57,845$682,825
66$1,018,513$122,668$0$653,012
67$1,031,582$37,859$0$622,993
68$1,043,122$0$0$596,973
69$1,052,889$0$0$587,425
70$1,060,609$0$0$590,787
71$1,065,976$0$0$592,709
72$1,068,652$0$0$592,990
73$1,068,260$0$0$591,404
74$1,064,382$0$0$587,701
75$1,056,554$0$0$581,603
76$1,044,261$0$0$572,804
77$1,026,932$0$0$560,960
78$1,003,935$0$0$545,696
79$974,568$0$0$526,591
80$938,055$0$0$503,182
81$893,537$0$0$474,956
82$840,061$0$0$441,345
83$776,575$0$0$401,721
84$701,914$0$0$355,390
85$614,792$0$0$301,582
86$513,783$0$0$239,449
87$397,314$0$0$168,053
88$263,646$0$0$86,356
89$110,856$0$0$0
90$0$0$0$0
91$0$0$0$0
92$0$0$0$0
93$0$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0