Can I retire at age 53 with 712,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $712,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.8%
1 years$58,796$58,273$57,762$57,263$56,776$54,761
2 years$29,107$28,565$28,040$27,530$27,036$25,028
3 years$19,212$18,668$18,143$17,639$17,153$15,214
4 years$14,265$13,723$13,204$12,708$12,234$10,379
5 years$11,298$10,759$10,247$9,761$9,300$7,535
6 years$9,321$8,785$8,281$7,806$7,359$5,684
7 years$7,909$7,378$6,881$6,418$5,984$4,400
8 years$6,850$6,324$5,836$5,384$4,965$3,469
9 years$6,028$5,506$5,027$4,586$4,181$2,772
10 years$5,370$4,854$4,382$3,953$3,562$2,238
11 years$4,832$4,321$3,858$3,440$3,064$1,821
12 years$4,384$3,878$3,424$3,017$2,655$1,491
13 years$4,005$3,505$3,059$2,664$2,315$1,227
14 years$3,681$3,186$2,749$2,365$2,030$1,014
15 years$3,400$2,910$2,482$2,109$1,787$840
16 years$3,154$2,670$2,250$1,888$1,579$698
17 years$2,938$2,459$2,047$1,697$1,400$582
18 years$2,746$2,272$1,869$1,529$1,245$485
19 years$2,574$2,106$1,711$1,382$1,110$405
20 years$2,420$1,957$1,570$1,251$991$339
21 years$2,280$1,823$1,444$1,136$887$284
22 years$2,154$1,701$1,331$1,033$795$238
23 years$2,038$1,591$1,229$940$714$200
24 years$1,933$1,491$1,137$858$642$168
25 years$1,836$1,399$1,053$783$577$141
26 years$1,746$1,315$976$716$520$118
27 years$1,664$1,238$907$656$469$99
28 years$1,587$1,166$843$601$423$83
29 years$1,516$1,100$784$551$382$70
30 years$1,449$1,039$731$505$345$59
31 years$1,387$982$681$464$312$50
32 years$1,329$929$636$427$282$42
33 years$1,275$880$593$392$255$35
34 years$1,224$834$554$361$231$30
35 years$1,176$791$518$332$209$25
36 years$1,131$751$485$306$190$21
37 years$1,088$713$454$282$172$18
38 years$1,048$678$425$260$156$15
39 years$1,010$645$398$240$141$12
40 years$973$613$373$221$128$10
41 years$939$584$350$204$116$9
42 years$906$556$328$188$106$7
43 years$875$530$308$174$96$6
44 years$846$505$289$160$87$5
45 years$818$481$272$148$79$4
46 years$791$459$255$137$72$4
47 years$765$438$240$126$65$3
48 years$741$418$225$117$59$3
49 years$718$400$212$108$54$2
50 years$695$382$199$100$49$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $712,000, adding $2,742 every year, while hoping to spend $34,788 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: 26/46/28 Blend
52$712,000$712,000$712,000$712,000
53$787,452$749,716$738,680$800,983
54$830,758$749,438$726,412$812,035
55$877,316$747,981$712,567$820,733
56$927,419$745,249$697,055$829,352
57$981,392$741,143$679,783$837,909
58$1,039,591$735,556$660,653$846,427
59$1,102,407$728,375$639,562$854,934
60$1,170,268$719,481$616,402$863,464
61$1,243,646$708,747$591,063$872,058
62$1,323,061$696,038$563,426$880,766
63$1,409,081$681,212$533,369$889,648
64$1,502,334$664,118$500,764$898,773
65$1,603,509$644,597$465,477$908,224
66$1,713,364$622,479$427,367$918,094
67$1,832,733$597,586$386,289$928,495
68$1,962,532$569,728$342,090$939,555
69$2,103,771$538,705$294,611$951,418
70$2,257,559$504,306$243,684$964,254
71$2,425,119$466,306$189,136$978,253
72$2,607,795$424,468$130,786$993,635
73$2,807,066$378,543$68,443$1,010,648
74$3,024,561$328,265$1,910$1,029,573
75$3,262,072$273,356$0$1,050,730
76$3,521,573$213,520$0$1,095,121
77$3,805,236$148,446$0$1,144,463
78$4,115,454$77,803$0$1,198,709
79$4,454,859$1,245$0$1,258,446
80$4,826,352$0$0$1,324,327
81$5,233,126$0$0$1,438,383
82$5,678,697$0$0$1,564,126
83$6,166,938$0$0$1,702,034
84$6,702,113$0$0$1,853,328
85$7,288,920$0$0$2,019,350
86$7,932,532$0$0$2,201,582
87$8,638,646$0$0$2,401,654
88$9,413,540$0$0$2,621,362
89$10,264,126$0$0$2,862,684
90$11,198,020$0$0$3,127,800
91$12,223,609$0$0$3,419,111
92$13,350,136$0$0$3,739,263
93$14,587,780$0$0$4,091,169
94$15,947,755$0$0$4,478,041
95$17,442,416$0$0$4,903,415
96$19,085,374$0$0$5,371,188
97$20,891,625$0$0$5,885,655
98$22,877,688$0$0$6,451,545
99$25,061,767$0$0$7,074,071
100$27,463,914$0$0$7,758,975