Can I retire at age 53 with 723,000?

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 $723,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.7%
1 years$59,705$59,173$58,654$58,148$57,653$56,768
2 years$29,557$29,006$28,473$27,956$27,454$26,564
3 years$19,509$18,956$18,424$17,911$17,418$16,552
4 years$14,486$13,935$13,408$12,904$12,423$11,586
5 years$11,473$10,925$10,405$9,912$9,443$8,639
6 years$9,465$8,921$8,409$7,926$7,472$6,701
7 years$8,031$7,492$6,988$6,517$6,077$5,340
8 years$6,956$6,422$5,926$5,467$5,041$4,337
9 years$6,121$5,591$5,104$4,656$4,246$3,575
10 years$5,453$4,929$4,450$4,014$3,617$2,979
11 years$4,906$4,388$3,918$3,493$3,111$2,504
12 years$4,452$3,938$3,477$3,064$2,696$2,120
13 years$4,067$3,559$3,106$2,705$2,351$1,806
14 years$3,738$3,235$2,791$2,401$2,061$1,545
15 years$3,452$2,955$2,520$2,142$1,815$1,327
16 years$3,203$2,711$2,285$1,918$1,604$1,143
17 years$2,983$2,497$2,079$1,723$1,422$988
18 years$2,788$2,307$1,898$1,553$1,264$856
19 years$2,614$2,138$1,737$1,403$1,127$743
20 years$2,457$1,987$1,594$1,271$1,007$646
21 years$2,316$1,851$1,467$1,153$901$563
22 years$2,187$1,728$1,352$1,049$807$491
23 years$2,070$1,616$1,248$955$725$428
24 years$1,963$1,514$1,154$871$651$374
25 years$1,864$1,421$1,069$795$586$327
26 years$1,773$1,335$992$727$528$286
27 years$1,689$1,257$921$666$476$251
28 years$1,611$1,184$856$610$430$220
29 years$1,539$1,117$796$559$388$192
30 years$1,472$1,055$742$513$350$169
31 years$1,409$997$692$471$317$148
32 years$1,350$944$645$433$287$130
33 years$1,295$894$603$398$259$114
34 years$1,243$847$563$367$235$100
35 years$1,194$803$526$337$213$88
36 years$1,148$763$492$311$193$77
37 years$1,105$724$461$286$175$68
38 years$1,064$688$432$264$158$60
39 years$1,025$655$404$243$144$52
40 years$988$623$379$224$130$46
41 years$954$593$355$207$118$40
42 years$920$565$333$191$107$36
43 years$889$538$313$176$97$31
44 years$859$513$294$163$88$27
45 years$830$489$276$150$80$24
46 years$803$466$259$139$73$21
47 years$777$445$243$128$66$19
48 years$752$425$229$119$60$16
49 years$729$406$215$110$55$14
50 years$706$388$202$101$50$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $723,000, adding $3,406 every year, while hoping to spend $39,413 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: 32/49/19 Blend
52$723,000$723,000$723,000$723,000
53$800,259$761,940$750,734$821,045
54$839,951$757,340$733,948$832,245
55$882,369$751,194$715,279$840,462
56$927,753$743,384$694,623$848,481
57$976,359$733,785$671,868$856,308
58$1,028,474$722,267$646,902$863,954
59$1,084,409$708,689$619,604$871,433
60$1,144,507$692,903$589,849$878,766
61$1,209,143$674,752$557,506$885,979
62$1,278,732$654,070$522,438$893,106
63$1,353,725$630,683$484,502$900,188
64$1,434,622$604,403$443,550$907,275
65$1,521,969$575,034$399,424$914,430
66$1,616,367$542,368$351,962$921,725
67$1,718,477$506,184$300,994$929,247
68$1,829,025$466,251$246,341$937,097
69$1,948,810$422,322$187,818$945,395
70$2,078,710$374,137$125,231$954,278
71$2,219,690$321,421$58,377$963,906
72$2,372,812$263,884$0$974,462
73$2,539,244$201,220$0$988,787
74$2,720,270$133,103$0$1,017,294
75$2,917,305$59,193$0$1,048,459
76$3,131,904$0$0$1,082,642
77$3,365,779$0$0$1,131,507
78$3,620,813$0$0$1,219,698
79$3,899,080$0$0$1,316,026
80$4,202,862$0$0$1,421,294
81$4,534,671$0$0$1,536,388
82$4,897,273$0$0$1,662,280
83$5,293,712$0$0$1,800,043
84$5,727,340$0$0$1,950,856
85$6,201,850$0$0$2,116,018
86$6,721,305$0$0$2,296,962
87$7,290,180$0$0$2,495,264
88$7,913,404$0$0$2,712,658
89$8,596,406$0$0$2,951,057
90$9,345,163$0$0$3,212,566
91$10,166,258$0$0$3,499,506
92$11,066,944$0$0$3,814,430
93$12,055,207$0$0$4,160,152
94$13,139,845$0$0$4,539,772
95$14,330,549$0$0$4,956,705
96$15,637,993$0$0$5,414,713
97$17,073,938$0$0$5,917,938
98$18,651,336$0$0$6,470,947
99$20,384,458$0$0$7,078,768
100$22,289,025$0$0$7,746,942