Can I retire at age 53 with 708,000?

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 $708,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.8%
1 years$58,466$57,945$57,437$56,941$56,457$54,238
2 years$28,944$28,405$27,882$27,376$26,884$24,676
3 years$19,104$18,563$18,042$17,540$17,056$14,929
4 years$14,185$13,646$13,130$12,636$12,165$10,133
5 years$11,235$10,698$10,189$9,706$9,248$7,317
6 years$9,268$8,736$8,234$7,762$7,317$5,490
7 years$7,864$7,336$6,843$6,382$5,951$4,225
8 years$6,812$6,289$5,803$5,353$4,937$3,312
9 years$5,994$5,475$4,998$4,560$4,158$2,630
10 years$5,339$4,826$4,358$3,931$3,542$2,110
11 years$4,805$4,297$3,836$3,421$3,047$1,706
12 years$4,359$3,856$3,405$3,001$2,640$1,388
13 years$3,983$3,485$3,042$2,649$2,302$1,134
14 years$3,660$3,168$2,733$2,351$2,018$930
15 years$3,381$2,894$2,468$2,097$1,777$766
16 years$3,137$2,655$2,237$1,878$1,570$632
17 years$2,922$2,445$2,036$1,687$1,392$522
18 years$2,730$2,259$1,858$1,520$1,238$432
19 years$2,560$2,094$1,701$1,374$1,104$359
20 years$2,406$1,946$1,561$1,244$986$298
21 years$2,268$1,813$1,436$1,129$882$247
22 years$2,142$1,692$1,324$1,027$791$206
23 years$2,027$1,582$1,222$935$710$171
24 years$1,922$1,483$1,130$853$638$142
25 years$1,825$1,391$1,047$779$574$119
26 years$1,736$1,308$971$712$517$99
27 years$1,654$1,231$902$652$466$82
28 years$1,578$1,160$838$597$421$69
29 years$1,507$1,094$780$548$380$57
30 years$1,441$1,033$727$503$343$48
31 years$1,380$977$677$462$310$40
32 years$1,322$924$632$424$281$33
33 years$1,268$875$590$390$254$28
34 years$1,217$829$551$359$230$23
35 years$1,169$787$515$330$208$19
36 years$1,124$747$482$304$189$16
37 years$1,082$709$451$280$171$13
38 years$1,042$674$423$258$155$11
39 years$1,004$641$396$238$141$9
40 years$968$610$371$220$128$8
41 years$934$580$348$203$116$7
42 years$901$553$326$187$105$5
43 years$871$527$306$173$95$5
44 years$841$502$288$160$87$4
45 years$813$479$270$147$79$3
46 years$787$457$254$136$71$3
47 years$761$436$238$126$65$2
48 years$737$416$224$116$59$2
49 years$714$397$210$107$53$2
50 years$691$380$198$99$49$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $708,000, adding $4,287 every year, while hoping to spend $22,858 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: 65/29/6 Blend
52$708,000$708,000$708,000$708,000
53$784,638$747,114$736,140$834,599
54$840,350$759,402$736,480$880,637
55$900,979$771,526$736,065$927,791
56$967,002$783,453$734,846$978,701
57$1,038,944$795,150$732,772$1,033,730
58$1,117,383$806,580$729,786$1,093,277
59$1,202,956$817,702$725,834$1,157,783
60$1,296,363$828,474$720,854$1,227,733
61$1,398,374$838,852$714,785$1,303,660
62$1,509,839$848,786$707,561$1,386,155
63$1,631,691$858,225$699,113$1,475,866
64$1,764,959$867,114$689,369$1,573,510
65$1,910,776$875,394$678,254$1,679,874
66$2,070,389$883,002$665,689$1,795,829
67$2,245,171$889,871$651,592$1,922,332
68$2,436,634$895,930$635,876$2,060,441
69$2,646,443$901,104$618,451$2,211,318
70$2,876,433$905,311$599,222$2,376,248
71$3,128,624$908,466$578,090$2,556,646
72$3,405,241$910,477$554,953$2,754,070
73$3,708,733$911,248$529,702$2,970,241
74$4,041,801$910,676$502,223$3,207,053
75$4,407,417$908,652$472,400$3,466,596
76$4,808,856$905,058$440,108$3,751,173
77$5,249,726$899,773$405,219$4,063,322
78$5,734,002$892,666$367,598$4,405,843
79$6,266,061$883,598$327,103$4,781,821
80$6,850,727$872,422$283,589$5,194,656
81$7,493,313$858,982$236,901$5,648,098
82$8,199,673$843,114$186,879$6,146,280
83$8,976,256$824,643$133,355$6,693,759
84$9,830,167$803,383$76,156$7,295,557
85$10,769,234$779,139$15,097$7,957,209
86$11,802,082$751,704$0$8,684,821
87$12,938,215$720,857$0$9,488,323
88$14,188,100$686,367$0$10,373,168
89$15,563,276$647,988$0$11,346,576
90$17,076,450$605,459$0$12,417,572
91$18,741,629$558,508$0$13,596,104
92$20,574,242$506,842$0$14,893,137
93$22,591,292$450,155$0$16,320,756
94$24,811,514$388,122$0$17,892,283
95$27,255,549$320,401$0$19,622,398
96$29,946,144$246,629$0$21,527,285
97$32,908,361$166,424$0$23,624,779
98$36,169,816$79,382$0$25,934,541
99$39,760,942$0$0$28,478,237
100$43,715,269$0$0$31,284,512