Can I retire at age 53 with 720,000?

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 $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%17.4%
1 years$59,457$58,927$58,411$57,906$57,414$55,687
2 years$29,434$28,886$28,355$27,840$27,340$25,615
3 years$19,428$18,877$18,347$17,837$17,346$15,677
4 years$14,426$13,877$13,352$12,851$12,371$10,771
5 years$11,425$10,880$10,362$9,870$9,404$7,877
6 years$9,425$8,884$8,374$7,894$7,441$5,988
7 years$7,998$7,461$6,959$6,490$6,052$4,672
8 years$6,927$6,395$5,902$5,444$5,020$3,714
9 years$6,095$5,568$5,083$4,637$4,228$2,994
10 years$5,430$4,908$4,431$3,997$3,602$2,438
11 years$4,886$4,369$3,901$3,479$3,098$2,002
12 years$4,433$3,922$3,462$3,051$2,685$1,655
13 years$4,050$3,544$3,093$2,694$2,341$1,375
14 years$3,722$3,221$2,779$2,391$2,052$1,147
15 years$3,438$2,943$2,509$2,133$1,807$960
16 years$3,190$2,700$2,275$1,910$1,597$806
17 years$2,971$2,487$2,070$1,716$1,416$678
18 years$2,777$2,298$1,890$1,546$1,259$572
19 years$2,603$2,130$1,730$1,397$1,122$483
20 years$2,447$1,979$1,588$1,265$1,002$408
21 years$2,306$1,843$1,461$1,148$897$346
22 years$2,178$1,721$1,346$1,044$804$293
23 years$2,061$1,609$1,243$951$722$248
24 years$1,954$1,508$1,149$867$649$211
25 years$1,856$1,415$1,065$792$584$179
26 years$1,766$1,330$987$724$526$152
27 years$1,682$1,252$917$663$474$129
28 years$1,605$1,179$852$607$428$110
29 years$1,533$1,113$793$557$386$93
30 years$1,466$1,051$739$511$349$79
31 years$1,403$993$689$469$316$68
32 years$1,344$940$643$431$285$57
33 years$1,289$890$600$397$258$49
34 years$1,238$844$561$365$234$42
35 years$1,189$800$524$336$212$35
36 years$1,144$759$490$309$192$30
37 years$1,100$721$459$285$174$26
38 years$1,060$685$430$263$158$22
39 years$1,021$652$403$242$143$19
40 years$984$620$377$224$130$16
41 years$950$590$354$206$118$14
42 years$917$562$332$190$107$12
43 years$885$536$312$176$97$10
44 years$855$511$292$162$88$8
45 years$827$487$275$150$80$7
46 years$800$464$258$138$73$6
47 years$774$443$242$128$66$5
48 years$749$423$228$118$60$4
49 years$726$404$214$109$54$4
50 years$703$386$201$101$49$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $720,000, adding $2,843 every year, while hoping to spend $54,689 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: 59/22/19 Blend
52$720,000$720,000$720,000$720,000
53$796,373$758,213$747,053$839,234
54$819,414$737,176$713,890$847,575
55$842,972$713,276$677,784$850,428
56$867,043$686,315$638,577$852,304
57$891,619$656,081$596,107$853,116
58$916,690$622,355$550,203$852,775
59$942,243$584,901$500,685$851,183
60$968,263$543,472$447,368$848,235
61$994,728$497,805$390,058$843,820
62$1,021,615$447,622$328,550$837,818
63$1,048,896$392,632$262,632$830,103
64$1,076,536$332,524$192,083$820,536
65$1,104,497$266,971$116,672$808,972
66$1,132,731$195,628$36,156$795,254
67$1,161,185$118,129$0$779,212
68$1,189,799$34,091$0$770,758
69$1,218,502$0$0$768,085
70$1,247,214$0$0$777,479
71$1,275,843$0$0$795,040
72$1,304,288$0$0$812,448
73$1,332,430$0$0$829,625
74$1,360,139$0$0$846,485
75$1,387,266$0$0$862,930
76$1,413,645$0$0$878,851
77$1,439,087$0$0$894,125
78$1,463,384$0$0$908,614
79$1,486,301$0$0$922,164
80$1,507,576$0$0$934,604
81$1,526,915$0$0$945,742
82$1,543,992$0$0$955,364
83$1,558,443$0$0$963,231
84$1,569,862$0$0$969,080
85$1,577,798$0$0$972,614
86$1,581,750$0$0$973,507
87$1,581,161$0$0$971,393
88$1,575,410$0$0$965,870
89$1,563,811$0$0$956,488
90$1,545,602$0$0$942,750
91$1,519,937$0$0$924,105
92$1,485,881$0$0$899,942
93$1,442,394$0$0$869,584
94$1,388,328$0$0$832,282
95$1,322,409$0$0$787,206
96$1,243,229$0$0$733,438
97$1,149,230$0$0$669,963
98$1,038,688$0$0$595,658
99$909,696$0$0$509,280
100$760,146$0$0$409,457