Can I retire at age 53 with 710,000?

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 $710,000?

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$58,631$58,109$57,599$57,102$56,616$55,270
2 years$29,025$28,485$27,961$27,453$26,960$25,612
3 years$19,158$18,615$18,093$17,589$17,105$15,796
4 years$14,225$13,684$13,167$12,672$12,199$10,941
5 years$11,266$10,728$10,218$9,733$9,274$8,069
6 years$9,295$8,761$8,258$7,784$7,338$6,188
7 years$7,887$7,357$6,862$6,400$5,968$4,872
8 years$6,831$6,306$5,820$5,368$4,951$3,910
9 years$6,011$5,491$5,012$4,573$4,169$3,182
10 years$5,355$4,840$4,370$3,942$3,552$2,618
11 years$4,818$4,309$3,847$3,430$3,055$2,172
12 years$4,372$3,867$3,414$3,009$2,648$1,814
13 years$3,994$3,495$3,050$2,656$2,309$1,523
14 years$3,670$3,177$2,741$2,358$2,024$1,285
15 years$3,390$2,902$2,475$2,103$1,782$1,088
16 years$3,146$2,663$2,244$1,883$1,575$924
17 years$2,930$2,452$2,042$1,692$1,396$786
18 years$2,738$2,266$1,864$1,525$1,242$671
19 years$2,567$2,100$1,706$1,378$1,107$573
20 years$2,413$1,951$1,566$1,248$989$491
21 years$2,274$1,818$1,440$1,132$885$420
22 years$2,148$1,697$1,327$1,030$793$361
23 years$2,033$1,587$1,226$938$712$310
24 years$1,927$1,487$1,133$855$640$266
25 years$1,830$1,395$1,050$781$576$229
26 years$1,741$1,311$974$714$519$197
27 years$1,659$1,234$904$654$468$170
28 years$1,582$1,163$841$599$422$146
29 years$1,511$1,097$782$549$381$126
30 years$1,445$1,036$729$504$344$108
31 years$1,383$979$679$463$311$93
32 years$1,326$927$634$425$281$81
33 years$1,272$878$592$391$255$70
34 years$1,221$832$553$360$231$60
35 years$1,173$789$517$331$209$52
36 years$1,128$749$484$305$189$45
37 years$1,085$711$453$281$172$39
38 years$1,045$676$424$259$156$33
39 years$1,007$643$397$239$141$29
40 years$971$612$372$220$128$25
41 years$936$582$349$203$116$21
42 years$904$554$327$188$105$18
43 years$873$528$307$173$96$16
44 years$844$503$288$160$87$14
45 years$816$480$271$148$79$12
46 years$789$458$254$136$72$10
47 years$763$437$239$126$65$9
48 years$739$417$225$117$59$8
49 years$716$398$211$108$54$7
50 years$693$381$198$100$49$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $710,000, adding $6,534 every year, while hoping to spend $34,521 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: 52/31/17 Blend
52$710,000$710,000$710,000$710,000
53$789,160$751,530$740,525$826,218
54$832,924$751,625$728,602$852,447
55$879,995$750,567$715,123$876,794
56$930,674$748,265$700,000$902,517
57$985,291$744,618$683,138$929,758
58$1,044,210$739,523$664,442$958,672
59$1,107,828$732,868$643,809$989,436
60$1,176,584$724,537$621,135$1,022,243
61$1,250,960$714,403$596,307$1,057,309
62$1,331,484$702,335$569,210$1,094,873
63$1,418,740$688,194$539,722$1,135,204
64$1,513,365$671,829$507,717$1,178,597
65$1,616,065$653,085$473,062$1,225,381
66$1,727,613$631,796$435,619$1,275,921
67$1,848,860$607,784$395,242$1,330,622
68$1,980,743$580,865$351,782$1,389,934
69$2,124,291$550,840$305,080$1,454,356
70$2,280,639$517,502$254,970$1,524,441
71$2,451,035$480,629$201,282$1,600,801
72$2,636,850$439,990$143,835$1,684,117
73$2,839,597$395,337$82,441$1,775,142
74$3,060,938$346,411$16,905$1,874,708
75$3,302,705$292,936$0$1,983,742
76$3,566,912$234,622$0$2,112,885
77$3,855,780$171,161$0$2,257,547
78$4,171,751$102,229$0$2,415,955
79$4,517,515$27,485$0$2,589,538
80$4,896,036$0$0$2,779,876
81$5,310,574$0$0$3,006,940
82$5,764,722$0$0$3,266,044
83$6,262,435$0$0$3,550,077
84$6,808,072$0$0$3,861,534
85$7,406,429$0$0$4,203,164
86$8,062,793$0$0$4,577,995
87$8,782,985$0$0$4,989,361
88$9,573,417$0$0$5,440,935
89$10,441,152$0$0$5,936,764
90$11,393,969$0$0$6,481,304
91$12,440,441$0$0$7,079,465
92$13,590,008$0$0$7,736,657
93$14,853,070$0$0$8,458,837
94$16,241,087$0$0$9,252,570
95$17,766,681$0$0$10,125,089
96$19,443,760$0$0$11,084,360
97$21,287,644$0$0$12,139,162
98$23,315,213$0$0$13,299,166
99$25,545,066$0$0$14,575,027
100$27,997,693$0$0$15,978,486