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%19%
1 years$58,631$58,109$57,599$57,102$56,616$54,564
2 years$29,025$28,485$27,961$27,453$26,960$24,915
3 years$19,158$18,615$18,093$17,589$17,105$15,131
4 years$14,225$13,684$13,167$12,672$12,199$10,312
5 years$11,266$10,728$10,218$9,733$9,274$7,478
6 years$9,295$8,761$8,258$7,784$7,338$5,635
7 years$7,887$7,357$6,862$6,400$5,968$4,357
8 years$6,831$6,306$5,820$5,368$4,951$3,431
9 years$6,011$5,491$5,012$4,573$4,169$2,739
10 years$5,355$4,840$4,370$3,942$3,552$2,208
11 years$4,818$4,309$3,847$3,430$3,055$1,795
12 years$4,372$3,867$3,414$3,009$2,648$1,468
13 years$3,994$3,495$3,050$2,656$2,309$1,206
14 years$3,670$3,177$2,741$2,358$2,024$995
15 years$3,390$2,902$2,475$2,103$1,782$823
16 years$3,146$2,663$2,244$1,883$1,575$683
17 years$2,930$2,452$2,042$1,692$1,396$568
18 years$2,738$2,266$1,864$1,525$1,242$473
19 years$2,567$2,100$1,706$1,378$1,107$395
20 years$2,413$1,951$1,566$1,248$989$330
21 years$2,274$1,818$1,440$1,132$885$276
22 years$2,148$1,697$1,327$1,030$793$231
23 years$2,033$1,587$1,226$938$712$193
24 years$1,927$1,487$1,133$855$640$162
25 years$1,830$1,395$1,050$781$576$136
26 years$1,741$1,311$974$714$519$114
27 years$1,659$1,234$904$654$468$95
28 years$1,582$1,163$841$599$422$80
29 years$1,511$1,097$782$549$381$67
30 years$1,445$1,036$729$504$344$56
31 years$1,383$979$679$463$311$47
32 years$1,326$927$634$425$281$40
33 years$1,272$878$592$391$255$33
34 years$1,221$832$553$360$231$28
35 years$1,173$789$517$331$209$24
36 years$1,128$749$484$305$189$20
37 years$1,085$711$453$281$172$17
38 years$1,045$676$424$259$156$14
39 years$1,007$643$397$239$141$12
40 years$971$612$372$220$128$10
41 years$936$582$349$203$116$8
42 years$904$554$327$188$105$7
43 years$873$528$307$173$96$6
44 years$844$503$288$160$87$5
45 years$816$480$271$148$79$4
46 years$789$458$254$136$72$3
47 years$763$437$239$126$65$3
48 years$739$417$225$117$59$2
49 years$716$398$211$108$54$2
50 years$693$381$198$100$49$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $710,000, adding $3,396 every year, while hoping to spend $46,003 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: 73/7/20 Blend
52$710,000$710,000$710,000$710,000
53$785,923$748,293$737,288$839,292
54$817,140$736,012$713,040$862,928
55$850,000$721,588$686,438$882,935
56$884,621$704,867$657,355$903,681
57$921,133$685,686$625,657$925,232
58$959,676$663,873$591,205$947,659
59$1,000,406$639,246$553,853$971,043
60$1,043,490$611,611$513,449$995,474
61$1,089,111$580,765$469,835$1,021,051
62$1,137,470$546,492$422,844$1,047,886
63$1,188,786$508,564$372,303$1,076,103
64$1,243,297$466,739$318,030$1,105,838
65$1,301,266$420,762$259,837$1,137,245
66$1,362,980$370,363$197,526$1,170,494
67$1,428,751$315,258$130,890$1,205,774
68$1,498,923$255,146$59,715$1,243,293
69$1,573,872$189,707$0$1,283,287
70$1,654,012$118,607$0$1,329,479
71$1,739,793$41,491$0$1,392,514
72$1,831,711$0$0$1,460,008
73$1,930,311$0$0$1,535,605
74$2,036,189$0$0$1,620,235
75$2,149,999$0$0$1,711,231
76$2,272,460$0$0$1,809,168
77$2,404,362$0$0$1,914,681
78$2,546,572$0$0$2,028,468
79$2,700,041$0$0$2,151,293
80$2,865,817$0$0$2,283,998
81$3,045,048$0$0$2,427,507
82$3,238,999$0$0$2,582,836
83$3,449,058$0$0$2,751,102
84$3,676,754$0$0$2,933,533
85$3,923,765$0$0$3,131,479
86$4,191,938$0$0$3,346,425
87$4,483,306$0$0$3,580,006
88$4,800,102$0$0$3,834,017
89$5,144,786$0$0$4,110,436
90$5,520,063$0$0$4,411,438
91$5,928,908$0$0$4,739,417
92$6,374,599$0$0$5,097,008
93$6,860,740$0$0$5,487,109
94$7,391,299$0$0$5,912,912
95$7,970,644$0$0$6,377,929
96$8,603,583$0$0$6,886,028
97$9,295,410$0$0$7,441,466
98$10,051,953$0$0$8,048,931
99$10,879,628$0$0$8,713,582
100$11,785,501$0$0$9,441,103