Can I retire at age 53 with 713,000?

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 $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%15.9%
1 years$58,879$58,354$57,843$57,343$56,856$55,481
2 years$29,148$28,605$28,079$27,569$27,074$25,698
3 years$19,239$18,694$18,169$17,664$17,177$15,841
4 years$14,285$13,742$13,222$12,726$12,251$10,967
5 years$11,314$10,774$10,261$9,775$9,313$8,083
6 years$9,334$8,798$8,292$7,817$7,369$6,196
7 years$7,920$7,388$6,891$6,427$5,993$4,876
8 years$6,860$6,333$5,844$5,391$4,972$3,910
9 years$6,036$5,514$5,034$4,592$4,187$3,181
10 years$5,377$4,860$4,388$3,958$3,567$2,615
11 years$4,839$4,327$3,863$3,445$3,068$2,168
12 years$4,390$3,884$3,429$3,022$2,659$1,810
13 years$4,011$3,510$3,063$2,668$2,318$1,519
14 years$3,686$3,190$2,752$2,368$2,032$1,280
15 years$3,405$2,914$2,485$2,112$1,789$1,083
16 years$3,159$2,674$2,253$1,891$1,582$919
17 years$2,942$2,462$2,050$1,699$1,402$782
18 years$2,750$2,275$1,872$1,531$1,247$666
19 years$2,578$2,109$1,713$1,384$1,111$569
20 years$2,423$1,960$1,572$1,253$993$487
21 years$2,284$1,825$1,446$1,137$888$417
22 years$2,157$1,704$1,333$1,034$796$357
23 years$2,041$1,594$1,231$942$715$307
24 years$1,935$1,493$1,138$859$642$263
25 years$1,838$1,401$1,054$784$578$226
26 years$1,749$1,317$978$717$521$194
27 years$1,666$1,239$908$656$469$167
28 years$1,589$1,168$844$601$424$144
29 years$1,518$1,102$785$552$383$124
30 years$1,451$1,040$732$506$346$107
31 years$1,389$984$682$465$312$92
32 years$1,331$931$636$427$283$79
33 years$1,277$881$594$393$256$68
34 years$1,226$835$555$361$232$59
35 years$1,178$792$519$333$210$51
36 years$1,132$752$486$306$190$44
37 years$1,090$714$454$282$172$38
38 years$1,049$679$426$260$156$33
39 years$1,011$645$399$240$142$28
40 years$975$614$374$221$128$24
41 years$940$585$350$204$117$21
42 years$908$557$329$188$106$18
43 years$877$530$308$174$96$16
44 years$847$506$290$161$87$13
45 years$819$482$272$148$79$12
46 years$792$460$255$137$72$10
47 years$766$439$240$127$65$9
48 years$742$419$225$117$59$7
49 years$719$400$212$108$54$6
50 years$696$382$199$100$49$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $713,000, adding $5,186 every year, while hoping to spend $35,282 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: 65/25/10 Blend
52$713,000$713,000$713,000$713,000
53$791,075$753,286$742,235$840,468
54$834,225$752,658$729,560$873,415
55$880,594$750,816$715,278$904,766
56$930,473$747,663$699,298$938,116
57$984,181$743,099$681,524$973,656
58$1,042,069$737,013$661,857$1,011,599
59$1,104,523$729,290$640,193$1,052,180
60$1,171,967$719,807$616,421$1,095,660
61$1,244,866$708,436$590,430$1,142,326
62$1,323,731$695,038$562,098$1,192,495
63$1,409,125$679,468$531,302$1,246,521
64$1,501,666$661,572$497,910$1,304,792
65$1,602,033$641,187$461,788$1,367,738
66$1,710,975$618,140$422,792$1,435,835
67$1,829,313$592,247$380,774$1,509,608
68$1,957,952$563,316$335,579$1,589,639
69$2,097,887$531,142$287,045$1,676,570
70$2,250,212$495,509$235,001$1,771,111
71$2,416,132$456,187$179,272$1,874,047
72$2,596,972$412,935$119,673$1,986,245
73$2,794,192$365,497$56,010$2,108,662
74$3,009,396$313,603$0$2,242,358
75$3,244,352$256,968$0$2,389,775
76$3,501,006$195,289$0$2,557,392
77$3,781,499$128,248$0$2,740,677
78$4,088,189$55,510$0$2,941,232
79$4,423,672$0$0$3,160,822
80$4,790,807$0$0$3,407,801
81$5,192,741$0$0$3,694,955
82$5,632,940$0$0$4,009,495
83$6,115,221$0$0$4,354,154
84$6,643,789$0$0$4,731,942
85$7,223,272$0$0$5,146,175
86$7,858,770$0$0$5,600,505
87$8,555,898$0$0$6,098,953
88$9,320,842$0$0$6,645,949
89$10,160,417$0$0$7,246,373
90$11,082,127$0$0$7,905,601
91$12,094,240$0$0$8,629,552
92$13,205,863$0$0$9,424,751
93$14,427,028$0$0$10,298,382
94$15,768,789$0$0$11,258,361
95$17,243,321$0$0$12,313,408
96$18,864,038$0$0$13,473,131
97$20,645,718$0$0$14,748,114
98$22,604,642$0$0$16,150,019
99$24,758,748$0$0$17,691,691
100$27,127,798$0$0$19,387,287