Can I retire at age 53 with 709,000?

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 $709,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.8%
1 years$58,549$58,027$57,518$57,022$56,537$55,192
2 years$28,984$28,445$27,921$27,414$26,922$25,576
3 years$19,131$18,589$18,067$17,565$17,081$15,774
4 years$14,205$13,665$13,148$12,654$12,182$10,925
5 years$11,251$10,713$10,204$9,720$9,261$8,057
6 years$9,281$8,748$8,246$7,773$7,328$6,179
7 years$7,875$7,347$6,852$6,391$5,959$4,866
8 years$6,821$6,298$5,811$5,361$4,944$3,904
9 years$6,002$5,483$5,005$4,566$4,163$3,178
10 years$5,347$4,833$4,364$3,936$3,547$2,614
11 years$4,811$4,303$3,842$3,426$3,051$2,169
12 years$4,365$3,862$3,410$3,005$2,644$1,811
13 years$3,988$3,490$3,046$2,653$2,305$1,521
14 years$3,665$3,172$2,737$2,355$2,021$1,283
15 years$3,386$2,898$2,471$2,100$1,779$1,086
16 years$3,141$2,659$2,240$1,880$1,573$922
17 years$2,926$2,449$2,039$1,690$1,394$785
18 years$2,734$2,263$1,861$1,523$1,240$670
19 years$2,563$2,097$1,704$1,376$1,105$572
20 years$2,410$1,949$1,564$1,246$987$490
21 years$2,271$1,815$1,438$1,131$883$420
22 years$2,145$1,694$1,326$1,028$792$360
23 years$2,030$1,585$1,224$936$711$309
24 years$1,925$1,485$1,132$854$639$266
25 years$1,828$1,393$1,048$780$575$229
26 years$1,739$1,310$972$713$518$197
27 years$1,657$1,232$903$653$467$169
28 years$1,580$1,161$839$598$421$146
29 years$1,509$1,096$781$548$380$126
30 years$1,443$1,035$728$503$344$108
31 years$1,382$978$678$462$311$93
32 years$1,324$925$633$425$281$81
33 years$1,270$876$591$391$254$69
34 years$1,219$831$552$359$230$60
35 years$1,171$788$516$331$209$52
36 years$1,126$748$483$305$189$45
37 years$1,084$710$452$281$171$38
38 years$1,043$675$423$259$155$33
39 years$1,005$642$397$239$141$29
40 years$969$611$372$220$128$25
41 years$935$581$348$203$116$21
42 years$903$554$327$187$105$18
43 years$872$527$307$173$95$16
44 years$842$503$288$160$87$14
45 years$814$479$270$148$79$12
46 years$788$457$254$136$71$10
47 years$762$436$239$126$65$9
48 years$738$417$224$116$59$8
49 years$715$398$211$108$53$7
50 years$692$380$198$99$49$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $709,000, adding $3,050 every year, while hoping to spend $25,812 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: 28/43/29 Blend
52$709,000$709,000$709,000$709,000
53$784,464$746,887$735,898$799,325
54$837,016$756,021$733,086$820,635
55$894,062$764,737$729,316$841,090
56$956,035$772,988$724,527$862,552
57$1,023,409$780,722$718,657$885,125
58$1,096,706$787,887$711,641$908,926
59$1,176,499$794,423$703,410$934,087
60$1,263,422$800,269$693,893$960,752
61$1,358,168$805,359$683,016$989,085
62$1,461,503$809,624$670,699$1,019,266
63$1,574,270$812,989$656,861$1,051,498
64$1,697,396$815,375$641,416$1,086,004
65$1,831,900$816,699$624,274$1,123,036
66$1,978,908$816,871$605,341$1,162,872
67$2,139,654$815,796$584,518$1,205,821
68$2,315,503$813,373$561,703$1,252,227
69$2,507,952$809,497$536,788$1,302,472
70$2,718,654$804,052$509,661$1,356,982
71$2,949,426$796,921$480,204$1,416,228
72$3,202,271$787,974$448,295$1,480,733
73$3,479,395$777,076$413,804$1,551,079
74$3,783,226$764,085$376,599$1,627,911
75$4,116,439$748,850$336,539$1,711,944
76$4,481,980$731,208$293,478$1,803,970
77$4,883,095$710,990$247,262$1,904,868
78$5,323,358$688,016$197,733$2,015,613
79$5,806,707$662,095$144,724$2,137,284
80$6,337,479$633,026$88,060$2,271,075
81$6,920,452$600,594$27,560$2,418,310
82$7,560,890$564,575$0$2,580,456
83$8,264,591$524,729$0$2,770,584
84$9,037,943$480,804$0$2,988,886
85$9,887,983$432,534$0$3,228,873
86$10,822,464$379,635$0$3,492,812
87$11,849,929$321,811$0$3,783,203
88$12,979,788$258,745$0$4,102,806
89$14,222,409$190,107$0$4,454,672
90$15,589,216$115,543$0$4,842,164
91$17,092,795$34,683$0$5,269,000
92$18,747,013$0$0$5,739,281
93$20,567,151$0$0$6,282,548
94$22,570,043$0$0$6,898,555
95$24,774,238$0$0$7,576,613
96$27,200,177$0$0$8,323,027
97$29,870,378$0$0$9,144,744
98$32,809,657$0$0$10,049,418
99$36,045,356$0$0$11,045,484
100$39,607,604$0$0$12,142,236