Can I retire at age 53 with 720,000?

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 $720,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%20%
1 years$59,457$58,927$58,411$57,906$57,414$55,114
2 years$29,434$28,886$28,355$27,840$27,340$25,052
3 years$19,428$18,877$18,347$17,837$17,346$15,141
4 years$14,426$13,877$13,352$12,851$12,371$10,267
5 years$11,425$10,880$10,362$9,870$9,404$7,406
6 years$9,425$8,884$8,374$7,894$7,441$5,550
7 years$7,998$7,461$6,959$6,490$6,052$4,267
8 years$6,927$6,395$5,902$5,444$5,020$3,340
9 years$6,095$5,568$5,083$4,637$4,228$2,650
10 years$5,430$4,908$4,431$3,997$3,602$2,123
11 years$4,886$4,369$3,901$3,479$3,098$1,714
12 years$4,433$3,922$3,462$3,051$2,685$1,392
13 years$4,050$3,544$3,093$2,694$2,341$1,136
14 years$3,722$3,221$2,779$2,391$2,052$931
15 years$3,438$2,943$2,509$2,133$1,807$765
16 years$3,190$2,700$2,275$1,910$1,597$630
17 years$2,971$2,487$2,070$1,716$1,416$520
18 years$2,777$2,298$1,890$1,546$1,259$430
19 years$2,603$2,130$1,730$1,397$1,122$356
20 years$2,447$1,979$1,588$1,265$1,002$295
21 years$2,306$1,843$1,461$1,148$897$245
22 years$2,178$1,721$1,346$1,044$804$203
23 years$2,061$1,609$1,243$951$722$169
24 years$1,954$1,508$1,149$867$649$140
25 years$1,856$1,415$1,065$792$584$117
26 years$1,766$1,330$987$724$526$97
27 years$1,682$1,252$917$663$474$81
28 years$1,605$1,179$852$607$428$67
29 years$1,533$1,113$793$557$386$56
30 years$1,466$1,051$739$511$349$47
31 years$1,403$993$689$469$316$39
32 years$1,344$940$643$431$285$32
33 years$1,289$890$600$397$258$27
34 years$1,238$844$561$365$234$22
35 years$1,189$800$524$336$212$19
36 years$1,144$759$490$309$192$16
37 years$1,100$721$459$285$174$13
38 years$1,060$685$430$263$158$11
39 years$1,021$652$403$242$143$9
40 years$984$620$377$224$130$8
41 years$950$590$354$206$118$6
42 years$917$562$332$190$107$5
43 years$885$536$312$176$97$4
44 years$855$511$292$162$88$4
45 years$827$487$275$150$80$3
46 years$800$464$258$138$73$3
47 years$774$443$242$128$66$2
48 years$749$423$228$118$60$2
49 years$726$404$214$109$54$1
50 years$703$386$201$101$49$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $720,000, adding $2,513 every year, while hoping to spend $26,040 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: 39/36/25 Blend
52$720,000$720,000$720,000$720,000
53$796,032$757,872$746,712$821,083
54$849,521$767,302$744,021$848,930
55$907,593$776,320$740,366$876,407
56$970,688$784,881$735,689$905,608
57$1,039,291$792,932$729,927$936,705
58$1,113,932$800,420$723,014$969,889
59$1,195,200$807,286$714,881$1,005,373
60$1,283,737$813,470$705,456$1,043,391
61$1,380,254$818,906$694,665$1,084,206
62$1,485,531$823,524$682,427$1,128,106
63$1,600,428$827,250$668,662$1,175,410
64$1,725,891$830,004$653,281$1,226,474
65$1,862,961$831,703$636,195$1,281,689
66$2,012,785$832,258$617,309$1,341,491
67$2,176,624$831,574$596,524$1,406,360
68$2,355,869$829,550$573,737$1,476,830
69$2,552,049$826,080$548,839$1,553,489
70$2,766,850$821,050$521,717$1,636,991
71$3,002,127$814,340$492,253$1,728,056
72$3,259,924$805,823$460,323$1,827,483
73$3,542,491$795,363$425,799$1,936,154
74$3,852,307$782,817$388,544$2,055,047
75$4,192,101$768,033$348,419$2,185,240
76$4,564,880$750,851$305,276$2,327,928
77$4,973,955$731,101$258,960$2,484,429
78$5,422,975$708,602$209,312$2,656,201
79$5,915,959$683,163$156,164$2,844,858
80$6,457,331$654,583$99,340$3,052,178
81$7,051,969$622,647$38,658$3,280,131
82$7,705,243$587,130$0$3,530,891
83$8,423,071$547,793$0$3,813,820
84$9,211,973$504,384$0$4,136,068
85$10,079,130$456,634$0$4,490,296
86$11,032,454$404,262$0$4,879,799
87$12,080,662$346,969$0$5,308,208
88$13,233,360$284,440$0$5,779,533
89$14,501,127$216,342$0$6,298,195
90$15,895,622$142,323$0$6,869,071
91$17,429,690$62,011$0$7,497,541
92$19,117,483$0$0$8,189,538
93$20,974,596$0$0$8,961,505
94$23,018,208$0$0$9,838,141
95$25,267,252$0$0$10,803,014
96$27,742,585$0$0$11,865,088
97$30,467,191$0$0$13,034,238
98$33,466,396$0$0$14,321,348
99$36,768,103$0$0$15,738,408
100$40,403,061$0$0$17,298,630