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%14.1%
1 years$58,631$58,109$57,599$57,102$56,616$55,656
2 years$29,025$28,485$27,961$27,453$26,960$25,995
3 years$19,158$18,615$18,093$17,589$17,105$16,165
4 years$14,225$13,684$13,167$12,672$12,199$11,293
5 years$11,266$10,728$10,218$9,733$9,274$8,403
6 years$9,295$8,761$8,258$7,784$7,338$6,504
7 years$7,887$7,357$6,862$6,400$5,968$5,171
8 years$6,831$6,306$5,820$5,368$4,951$4,191
9 years$6,011$5,491$5,012$4,573$4,169$3,445
10 years$5,355$4,840$4,370$3,942$3,552$2,864
11 years$4,818$4,309$3,847$3,430$3,055$2,402
12 years$4,372$3,867$3,414$3,009$2,648$2,028
13 years$3,994$3,495$3,050$2,656$2,309$1,723
14 years$3,670$3,177$2,741$2,358$2,024$1,470
15 years$3,390$2,902$2,475$2,103$1,782$1,259
16 years$3,146$2,663$2,244$1,883$1,575$1,082
17 years$2,930$2,452$2,042$1,692$1,396$932
18 years$2,738$2,266$1,864$1,525$1,242$805
19 years$2,567$2,100$1,706$1,378$1,107$697
20 years$2,413$1,951$1,566$1,248$989$604
21 years$2,274$1,818$1,440$1,132$885$525
22 years$2,148$1,697$1,327$1,030$793$456
23 years$2,033$1,587$1,226$938$712$397
24 years$1,927$1,487$1,133$855$640$346
25 years$1,830$1,395$1,050$781$576$301
26 years$1,741$1,311$974$714$519$263
27 years$1,659$1,234$904$654$468$229
28 years$1,582$1,163$841$599$422$200
29 years$1,511$1,097$782$549$381$175
30 years$1,445$1,036$729$504$344$153
31 years$1,383$979$679$463$311$134
32 years$1,326$927$634$425$281$117
33 years$1,272$878$592$391$255$102
34 years$1,221$832$553$360$231$90
35 years$1,173$789$517$331$209$78
36 years$1,128$749$484$305$189$69
37 years$1,085$711$453$281$172$60
38 years$1,045$676$424$259$156$53
39 years$1,007$643$397$239$141$46
40 years$971$612$372$220$128$40
41 years$936$582$349$203$116$35
42 years$904$554$327$188$105$31
43 years$873$528$307$173$96$27
44 years$844$503$288$160$87$24
45 years$816$480$271$148$79$21
46 years$789$458$254$136$72$18
47 years$763$437$239$126$65$16
48 years$739$417$225$117$59$14
49 years$716$398$211$108$54$12
50 years$693$381$198$100$49$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $710,000, adding $3,014 every year, while hoping to spend $47,088 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: 46/43/11 Blend
52$710,000$710,000$710,000$710,000
53$785,529$747,899$736,894$819,106
54$815,552$734,445$711,479$829,181
55$847,058$718,753$683,634$835,022
56$880,151$700,665$653,228$840,298
57$914,940$680,011$620,125$844,974
58$951,545$656,613$584,180$849,013
59$990,098$630,281$545,245$852,381
60$1,030,739$600,817$503,163$855,040
61$1,073,626$568,008$457,769$856,957
62$1,118,925$531,630$408,895$858,096
63$1,166,823$491,447$356,360$858,423
64$1,217,520$447,209$299,979$857,908
65$1,271,236$398,652$239,557$856,520
66$1,328,212$345,495$174,892$854,232
67$1,388,709$287,444$105,770$851,020
68$1,453,014$224,186$31,971$846,864
69$1,521,443$155,392$0$841,748
70$1,594,339$80,715$0$841,153
71$1,672,077$0$0$843,947
72$1,755,071$0$0$846,508
73$1,843,773$0$0$890,112
74$1,938,677$0$0$936,818
75$2,040,326$0$0$986,899
76$2,149,317$0$0$1,040,656
77$2,266,303$0$0$1,098,419
78$2,392,000$0$0$1,160,550
79$2,527,196$0$0$1,227,445
80$2,672,756$0$0$1,299,543
81$2,829,628$0$0$1,377,321
82$2,998,855$0$0$1,461,308
83$3,181,581$0$0$1,552,081
84$3,379,067$0$0$1,650,278
85$3,592,695$0$0$1,756,597
86$3,823,985$0$0$1,871,807
87$4,074,608$0$0$1,996,754
88$4,346,404$0$0$2,132,367
89$4,641,392$0$0$2,279,669
90$4,961,797$0$0$2,439,784
91$5,310,063$0$0$2,613,950
92$5,688,880$0$0$2,803,529
93$6,101,208$0$0$3,010,017
94$6,550,303$0$0$3,235,064
95$7,039,749$0$0$3,480,484
96$7,573,490$0$0$3,748,272
97$8,155,867$0$0$4,040,628
98$8,791,658$0$0$4,359,970
99$9,486,122$0$0$4,708,962
100$10,245,049$0$0$5,090,535