Can I retire at age 53 with 713,000?

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 $713,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$58,879$58,354$57,843$57,343$56,856$56,356
2 years$29,148$28,605$28,079$27,569$27,074$26,570
3 years$19,239$18,694$18,169$17,664$17,177$16,685
4 years$14,285$13,742$13,222$12,726$12,251$11,774
5 years$11,314$10,774$10,261$9,775$9,313$8,853
6 years$9,334$8,798$8,292$7,817$7,369$6,927
7 years$7,920$7,388$6,891$6,427$5,993$5,569
8 years$6,860$6,333$5,844$5,391$4,972$4,565
9 years$6,036$5,514$5,034$4,592$4,187$3,798
10 years$5,377$4,860$4,388$3,958$3,567$3,196
11 years$4,839$4,327$3,863$3,445$3,068$2,714
12 years$4,390$3,884$3,429$3,022$2,659$2,321
13 years$4,011$3,510$3,063$2,668$2,318$1,997
14 years$3,686$3,190$2,752$2,368$2,032$1,727
15 years$3,405$2,914$2,485$2,112$1,789$1,500
16 years$3,159$2,674$2,253$1,891$1,582$1,307
17 years$2,942$2,462$2,050$1,699$1,402$1,142
18 years$2,750$2,275$1,872$1,531$1,247$1,001
19 years$2,578$2,109$1,713$1,384$1,111$879
20 years$2,423$1,960$1,572$1,253$993$773
21 years$2,284$1,825$1,446$1,137$888$681
22 years$2,157$1,704$1,333$1,034$796$601
23 years$2,041$1,594$1,231$942$715$531
24 years$1,935$1,493$1,138$859$642$470
25 years$1,838$1,401$1,054$784$578$416
26 years$1,749$1,317$978$717$521$369
27 years$1,666$1,239$908$656$469$327
28 years$1,589$1,168$844$601$424$290
29 years$1,518$1,102$785$552$383$258
30 years$1,451$1,040$732$506$346$229
31 years$1,389$984$682$465$312$204
32 years$1,331$931$636$427$283$181
33 years$1,277$881$594$393$256$161
34 years$1,226$835$555$361$232$143
35 years$1,178$792$519$333$210$128
36 years$1,132$752$486$306$190$114
37 years$1,090$714$454$282$172$101
38 years$1,049$679$426$260$156$90
39 years$1,011$645$399$240$142$80
40 years$975$614$374$221$128$71
41 years$940$585$350$204$117$64
42 years$908$557$329$188$106$57
43 years$877$530$308$174$96$51
44 years$847$506$290$161$87$45
45 years$819$482$272$148$79$40
46 years$792$460$255$137$72$36
47 years$766$439$240$127$65$32
48 years$742$419$225$117$59$28
49 years$719$400$212$108$54$25
50 years$696$382$199$100$49$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $713,000, adding $5,031 every year, while hoping to spend $28,024 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: 68/27/5 Blend
52$713,000$713,000$713,000$713,000
53$790,915$753,126$742,075$843,898
54$841,772$760,212$737,117$886,708
55$896,876$766,706$731,054$929,606
56$956,632$772,549$723,819$975,747
57$1,021,483$777,680$715,342$1,025,444
58$1,091,919$782,030$705,551$1,079,039
59$1,168,476$785,531$694,368$1,136,910
60$1,251,745$788,106$681,713$1,199,477
61$1,342,376$789,676$667,504$1,267,198
62$1,441,084$790,157$651,651$1,340,581
63$1,548,657$789,457$634,064$1,420,186
64$1,665,960$787,481$614,645$1,506,630
65$1,793,948$784,127$593,296$1,600,594
66$1,933,670$779,288$569,910$1,702,828
67$2,086,280$772,849$544,378$1,814,160
68$2,253,051$764,689$516,585$1,935,502
69$2,435,382$754,679$486,411$2,067,862
70$2,634,816$742,683$453,730$2,212,349
71$2,853,050$728,557$418,412$2,370,189
72$3,091,951$712,147$380,320$2,542,730
73$3,353,580$693,291$339,310$2,731,462
74$3,640,201$671,819$295,233$2,938,028
75$3,954,311$647,547$247,933$3,164,239
76$4,298,659$620,285$197,247$3,412,090
77$4,676,272$589,829$143,005$3,683,786
78$5,090,485$555,964$85,029$3,981,755
79$5,544,971$518,462$23,133$4,308,674
80$6,043,774$477,084$0$4,667,499
81$6,591,352$431,574$0$5,063,775
82$7,192,613$381,664$0$5,500,271
83$7,852,964$327,070$0$5,979,722
84$8,578,362$267,492$0$6,506,507
85$9,375,370$202,614$0$7,085,455
86$10,251,215$132,099$0$7,721,887
87$11,213,863$55,596$0$8,421,671
88$12,272,087$0$0$9,191,277
89$13,435,554$0$0$10,045,939
90$14,714,914$0$0$11,003,943
91$16,121,899$0$0$12,057,562
92$17,669,439$0$0$13,216,485
93$19,371,774$0$0$14,491,382
94$21,244,600$0$0$15,894,014
95$23,305,207$0$0$17,437,336
96$25,572,646$0$0$19,135,625
97$28,067,908$0$0$21,004,608
98$30,814,123$0$0$23,061,619
99$33,836,775$0$0$25,325,752
100$37,163,946$0$0$27,818,050