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%11.9%
1 years$58,631$58,109$57,599$57,102$56,616$56,165
2 years$29,025$28,485$27,961$27,453$26,960$26,506
3 years$19,158$18,615$18,093$17,589$17,105$16,661
4 years$14,225$13,684$13,167$12,672$12,199$11,769
5 years$11,266$10,728$10,218$9,733$9,274$8,859
6 years$9,295$8,761$8,258$7,784$7,338$6,939
7 years$7,887$7,357$6,862$6,400$5,968$5,584
8 years$6,831$6,306$5,820$5,368$4,951$4,583
9 years$6,011$5,491$5,012$4,573$4,169$3,817
10 years$5,355$4,840$4,370$3,942$3,552$3,216
11 years$4,818$4,309$3,847$3,430$3,055$2,734
12 years$4,372$3,867$3,414$3,009$2,648$2,342
13 years$3,994$3,495$3,050$2,656$2,309$2,017
14 years$3,670$3,177$2,741$2,358$2,024$1,747
15 years$3,390$2,902$2,475$2,103$1,782$1,519
16 years$3,146$2,663$2,244$1,883$1,575$1,325
17 years$2,930$2,452$2,042$1,692$1,396$1,160
18 years$2,738$2,266$1,864$1,525$1,242$1,018
19 years$2,567$2,100$1,706$1,378$1,107$895
20 years$2,413$1,951$1,566$1,248$989$789
21 years$2,274$1,818$1,440$1,132$885$696
22 years$2,148$1,697$1,327$1,030$793$615
23 years$2,033$1,587$1,226$938$712$544
24 years$1,927$1,487$1,133$855$640$482
25 years$1,830$1,395$1,050$781$576$428
26 years$1,741$1,311$974$714$519$380
27 years$1,659$1,234$904$654$468$337
28 years$1,582$1,163$841$599$422$300
29 years$1,511$1,097$782$549$381$267
30 years$1,445$1,036$729$504$344$237
31 years$1,383$979$679$463$311$211
32 years$1,326$927$634$425$281$188
33 years$1,272$878$592$391$255$168
34 years$1,221$832$553$360$231$149
35 years$1,173$789$517$331$209$133
36 years$1,128$749$484$305$189$119
37 years$1,085$711$453$281$172$106
38 years$1,045$676$424$259$156$95
39 years$1,007$643$397$239$141$84
40 years$971$612$372$220$128$75
41 years$936$582$349$203$116$67
42 years$904$554$327$188$105$60
43 years$873$528$307$173$96$54
44 years$844$503$288$160$87$48
45 years$816$480$271$148$79$43
46 years$789$458$254$136$72$38
47 years$763$437$239$126$65$34
48 years$739$417$225$117$59$30
49 years$716$398$211$108$54$27
50 years$693$381$198$100$49$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $710,000, adding $5,804 every year, while hoping to spend $34,347 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: 79/7/14 Blend
52$710,000$710,000$710,000$710,000
53$788,407$750,777$739,772$848,007
54$832,279$751,020$728,009$888,290
55$879,476$750,124$714,701$927,489
56$930,299$747,996$699,760$969,522
57$985,081$744,540$683,094$1,014,658
58$1,044,187$739,650$664,606$1,063,193
59$1,108,019$733,218$644,195$1,115,454
60$1,177,018$725,127$621,756$1,171,801
61$1,251,668$715,252$597,179$1,232,632
62$1,332,502$703,463$570,349$1,298,383
63$1,420,106$689,622$541,144$1,369,538
64$1,515,123$673,580$509,439$1,446,628
65$1,618,263$655,182$475,102$1,530,239
66$1,730,304$634,264$437,996$1,621,018
67$1,852,102$610,650$397,976$1,719,678
68$1,984,601$584,157$354,893$1,827,002
69$2,128,838$554,588$308,590$1,943,859
70$2,285,954$521,738$258,902$2,071,202
71$2,457,206$485,387$205,659$2,210,085
72$2,643,974$445,304$148,682$2,361,667
73$2,847,781$401,246$87,785$2,527,230
74$3,070,301$352,953$22,772$2,708,182
75$3,313,378$300,154$0$2,906,081
76$3,579,040$242,559$0$3,129,604
77$3,869,523$179,865$0$3,377,761
78$4,187,285$111,750$0$3,649,265
79$4,535,036$37,873$0$3,946,450
80$4,915,759$0$0$4,271,885
81$5,332,736$0$0$4,631,646
82$5,789,586$0$0$5,029,026
83$6,290,291$0$0$5,464,575
84$6,839,238$0$0$5,942,111
85$7,441,258$0$0$6,465,841
86$8,101,675$0$0$7,040,396
87$8,826,347$0$0$7,670,880
88$9,621,733$0$0$8,362,912
89$10,494,945$0$0$9,122,685
90$11,453,815$0$0$9,957,017
91$12,506,974$0$0$10,873,421
92$13,663,928$0$0$11,880,173
93$14,935,151$0$0$12,986,390
94$16,332,181$0$0$14,202,117
95$17,867,727$0$0$15,538,417
96$19,555,793$0$0$17,007,483
97$21,411,807$0$0$18,622,743
98$23,452,766$0$0$20,398,996
99$25,697,397$0$0$22,352,543
100$28,166,332$0$0$24,501,348