Can I retire at age 53 with 708,000?

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 $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%13.4%
1 years$58,466$57,945$57,437$56,941$56,457$55,659
2 years$28,944$28,405$27,882$27,376$26,884$26,082
3 years$19,104$18,563$18,042$17,540$17,056$16,275
4 years$14,185$13,646$13,130$12,636$12,165$11,410
5 years$11,235$10,698$10,189$9,706$9,248$8,521
6 years$9,268$8,736$8,234$7,762$7,317$6,620
7 years$7,864$7,336$6,843$6,382$5,951$5,284
8 years$6,812$6,289$5,803$5,353$4,937$4,300
9 years$5,994$5,475$4,998$4,560$4,158$3,550
10 years$5,339$4,826$4,358$3,931$3,542$2,964
11 years$4,805$4,297$3,836$3,421$3,047$2,496
12 years$4,359$3,856$3,405$3,001$2,640$2,117
13 years$3,983$3,485$3,042$2,649$2,302$1,807
14 years$3,660$3,168$2,733$2,351$2,018$1,549
15 years$3,381$2,894$2,468$2,097$1,777$1,333
16 years$3,137$2,655$2,237$1,878$1,570$1,151
17 years$2,922$2,445$2,036$1,687$1,392$997
18 years$2,730$2,259$1,858$1,520$1,238$866
19 years$2,560$2,094$1,701$1,374$1,104$753
20 years$2,406$1,946$1,561$1,244$986$656
21 years$2,268$1,813$1,436$1,129$882$573
22 years$2,142$1,692$1,324$1,027$791$500
23 years$2,027$1,582$1,222$935$710$438
24 years$1,922$1,483$1,130$853$638$383
25 years$1,825$1,391$1,047$779$574$336
26 years$1,736$1,308$971$712$517$295
27 years$1,654$1,231$902$652$466$259
28 years$1,578$1,160$838$597$421$227
29 years$1,507$1,094$780$548$380$200
30 years$1,441$1,033$727$503$343$176
31 years$1,380$977$677$462$310$154
32 years$1,322$924$632$424$281$136
33 years$1,268$875$590$390$254$119
34 years$1,217$829$551$359$230$105
35 years$1,169$787$515$330$208$93
36 years$1,124$747$482$304$189$82
37 years$1,082$709$451$280$171$72
38 years$1,042$674$423$258$155$63
39 years$1,004$641$396$238$141$56
40 years$968$610$371$220$128$49
41 years$934$580$348$203$116$43
42 years$901$553$326$187$105$38
43 years$871$527$306$173$95$34
44 years$841$502$288$160$87$30
45 years$813$479$270$147$79$26
46 years$787$457$254$136$71$23
47 years$761$436$238$126$65$20
48 years$737$416$224$116$59$18
49 years$714$397$210$107$53$16
50 years$691$380$198$99$49$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $708,000, adding $2,190 every year, while hoping to spend $28,813 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: 88/5/7 Blend
52$708,000$708,000$708,000$708,000
53$782,475$744,951$733,977$850,772
54$831,631$750,797$727,908$901,421
55$884,834$755,963$720,671$952,854
56$942,469$760,387$712,195$1,008,459
57$1,004,955$764,000$702,407$1,068,634
58$1,072,754$766,730$691,232$1,133,818
59$1,146,376$768,500$678,589$1,204,495
60$1,226,379$769,230$664,395$1,281,197
61$1,313,380$768,832$648,562$1,364,510
62$1,408,055$767,215$630,999$1,455,080
63$1,511,149$764,281$611,610$1,553,617
64$1,623,482$759,927$590,295$1,660,904
65$1,745,956$754,042$566,949$1,777,801
66$1,879,564$746,511$541,462$1,905,259
67$2,025,400$737,210$513,721$2,044,322
68$2,184,665$726,007$483,605$2,196,141
69$2,358,684$712,765$450,989$2,361,985
70$2,548,916$697,337$415,743$2,543,250
71$2,756,965$679,566$377,730$2,741,476
72$2,984,599$659,289$336,808$2,958,357
73$3,233,764$636,330$292,827$3,195,761
74$3,506,604$610,505$245,632$3,455,745
75$3,805,477$581,619$195,060$3,740,576
76$4,132,983$549,466$140,942$4,052,752
77$4,491,983$513,826$83,100$4,395,024
78$4,885,632$474,470$21,350$4,770,423
79$5,317,399$431,152$0$5,182,290
80$5,791,111$383,615$0$5,637,633
81$6,310,977$331,586$0$6,139,098
82$6,881,639$274,776$0$6,689,573
83$7,508,208$212,881$0$7,293,999
84$8,196,312$145,579$0$7,957,818
85$8,952,155$72,531$0$8,687,026
86$9,782,567$0$0$9,488,232
87$10,695,077$0$0$10,369,078
88$11,697,975$0$0$11,341,567
89$12,800,397$0$0$12,410,568
90$14,012,406$0$0$13,585,840
91$15,345,092$0$0$14,878,135
92$16,810,668$0$0$16,299,301
93$18,422,596$0$0$17,862,389
94$20,195,703$0$0$19,581,780
95$22,146,328$0$0$21,473,317
96$24,292,473$0$0$23,554,458
97$26,653,972$0$0$25,844,438
98$29,252,679$0$0$28,364,450
99$32,112,675$0$0$31,137,845
100$35,260,491$0$0$34,190,353