Can I retire at age 53 with 723,000?

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 $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%15.6%
1 years$59,705$59,173$58,654$58,148$57,653$56,328
2 years$29,557$29,006$28,473$27,956$27,454$26,126
3 years$19,509$18,956$18,424$17,911$17,418$16,129
4 years$14,486$13,935$13,408$12,904$12,423$11,183
5 years$11,473$10,925$10,405$9,912$9,443$8,256
6 years$9,465$8,921$8,409$7,926$7,472$6,338
7 years$8,031$7,492$6,988$6,517$6,077$4,996
8 years$6,956$6,422$5,926$5,467$5,041$4,014
9 years$6,121$5,591$5,104$4,656$4,246$3,271
10 years$5,453$4,929$4,450$4,014$3,617$2,694
11 years$4,906$4,388$3,918$3,493$3,111$2,238
12 years$4,452$3,938$3,477$3,064$2,696$1,872
13 years$4,067$3,559$3,106$2,705$2,351$1,574
14 years$3,738$3,235$2,791$2,401$2,061$1,329
15 years$3,452$2,955$2,520$2,142$1,815$1,127
16 years$3,203$2,711$2,285$1,918$1,604$958
17 years$2,983$2,497$2,079$1,723$1,422$817
18 years$2,788$2,307$1,898$1,553$1,264$698
19 years$2,614$2,138$1,737$1,403$1,127$597
20 years$2,457$1,987$1,594$1,271$1,007$512
21 years$2,316$1,851$1,467$1,153$901$439
22 years$2,187$1,728$1,352$1,049$807$378
23 years$2,070$1,616$1,248$955$725$325
24 years$1,963$1,514$1,154$871$651$280
25 years$1,864$1,421$1,069$795$586$241
26 years$1,773$1,335$992$727$528$208
27 years$1,689$1,257$921$666$476$179
28 years$1,611$1,184$856$610$430$154
29 years$1,539$1,117$796$559$388$133
30 years$1,472$1,055$742$513$350$115
31 years$1,409$997$692$471$317$99
32 years$1,350$944$645$433$287$86
33 years$1,295$894$603$398$259$74
34 years$1,243$847$563$367$235$64
35 years$1,194$803$526$337$213$55
36 years$1,148$763$492$311$193$48
37 years$1,105$724$461$286$175$41
38 years$1,064$688$432$264$158$36
39 years$1,025$655$404$243$144$31
40 years$988$623$379$224$130$27
41 years$954$593$355$207$118$23
42 years$920$565$333$191$107$20
43 years$889$538$313$176$97$17
44 years$859$513$294$163$88$15
45 years$830$489$276$150$80$13
46 years$803$466$259$139$73$11
47 years$777$445$243$128$66$10
48 years$752$425$229$119$60$8
49 years$729$406$215$110$55$7
50 years$706$388$202$101$50$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $723,000, adding $3,735 every year, while hoping to spend $58,624 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: 48/38/14 Blend
52$723,000$723,000$723,000$723,000
53$800,599$762,280$751,073$835,739
54$819,884$737,256$713,859$835,367
55$839,172$709,041$673,433$828,615
56$858,401$677,417$629,626$819,988
57$877,500$642,153$582,260$809,332
58$896,391$603,004$531,152$796,480
59$914,984$559,713$476,107$781,255
60$933,180$512,006$416,924$763,466
61$950,865$459,595$353,392$742,907
62$967,913$402,175$285,290$719,358
63$984,181$339,423$212,388$692,583
64$999,511$270,998$134,447$662,327
65$1,013,726$196,541$51,215$628,317
66$1,026,627$115,673$0$590,258
67$1,037,992$27,991$0$553,454
68$1,047,577$0$0$520,474
69$1,055,107$0$0$511,324
70$1,060,275$0$0$512,584
71$1,062,744$0$0$512,370
72$1,062,135$0$0$510,480
73$1,058,031$0$0$506,691
74$1,049,966$0$0$500,757
75$1,037,425$0$0$492,402
76$1,019,836$0$0$481,323
77$996,565$0$0$467,183
78$966,912$0$0$449,609
79$930,098$0$0$428,187
80$885,262$0$0$402,461
81$831,452$0$0$371,925
82$767,615$0$0$336,019
83$692,583$0$0$294,125
84$605,069$0$0$245,559
85$503,646$0$0$189,563
86$386,739$0$0$125,303
87$252,607$0$0$51,856
88$99,326$0$0$0
89$0$0$0$0
90$0$0$0$0
91$0$0$0$0
92$0$0$0$0
93$0$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0