Can I retire at age 53 with 740,000?

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 $740,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.4%
1 years$61,109$60,564$60,033$59,515$59,009$57,006
2 years$30,252$29,688$29,142$28,613$28,099$26,102
3 years$19,967$19,402$18,857$18,333$17,827$15,897
4 years$14,826$14,262$13,723$13,208$12,715$10,867
5 years$11,743$11,182$10,650$10,145$9,665$7,906
6 years$9,687$9,131$8,607$8,113$7,648$5,977
7 years$8,220$7,668$7,152$6,670$6,220$4,637
8 years$7,120$6,573$6,066$5,595$5,160$3,665
9 years$6,265$5,723$5,224$4,766$4,345$2,936
10 years$5,581$5,044$4,555$4,108$3,703$2,376
11 years$5,022$4,491$4,010$3,575$3,184$1,939
12 years$4,556$4,031$3,559$3,136$2,759$1,592
13 years$4,163$3,643$3,179$2,769$2,406$1,313
14 years$3,826$3,311$2,857$2,458$2,109$1,088
15 years$3,534$3,025$2,579$2,192$1,857$904
16 years$3,278$2,775$2,338$1,963$1,641$754
17 years$3,054$2,556$2,128$1,763$1,455$630
18 years$2,854$2,362$1,942$1,589$1,294$527
19 years$2,675$2,189$1,778$1,436$1,153$442
20 years$2,515$2,034$1,632$1,301$1,030$370
21 years$2,370$1,894$1,501$1,180$922$311
22 years$2,238$1,768$1,383$1,073$826$262
23 years$2,119$1,654$1,277$977$742$220
24 years$2,009$1,550$1,181$891$667$185
25 years$1,908$1,454$1,094$814$600$156
26 years$1,815$1,367$1,015$744$540$132
27 years$1,729$1,286$942$681$487$111
28 years$1,649$1,212$876$624$440$93
29 years$1,575$1,143$815$572$397$79
30 years$1,506$1,080$759$525$359$67
31 years$1,442$1,021$708$483$324$56
32 years$1,382$966$661$443$293$47
33 years$1,325$915$617$408$266$40
34 years$1,272$867$576$375$240$34
35 years$1,222$822$539$345$218$28
36 years$1,175$780$504$318$197$24
37 years$1,131$741$472$293$179$20
38 years$1,089$704$442$270$162$17
39 years$1,049$670$414$249$147$14
40 years$1,012$637$388$230$133$12
41 years$976$607$364$212$121$10
42 years$942$578$341$196$110$9
43 years$910$551$320$181$100$7
44 years$879$525$301$167$90$6
45 years$850$500$282$154$82$5
46 years$822$477$265$142$75$4
47 years$796$456$249$131$68$4
48 years$770$435$234$121$61$3
49 years$746$415$220$112$56$3
50 years$722$397$207$104$51$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $740,000, adding $4,612 every year, while hoping to spend $36,494 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: 51/35/14 Blend
52$740,000$740,000$740,000$740,000
53$820,237$781,017$769,547$858,735
54$865,072$780,458$756,498$885,059
55$913,257$778,648$741,788$909,437
56$965,095$775,487$725,324$935,122
57$1,020,919$770,871$707,007$962,247
58$1,081,095$764,686$686,733$990,962
59$1,146,024$756,813$664,396$1,021,433
60$1,216,148$747,126$639,883$1,053,846
61$1,291,951$735,491$613,075$1,088,407
62$1,373,966$721,766$583,849$1,125,345
63$1,462,779$705,801$552,077$1,164,917
64$1,559,034$687,437$517,623$1,207,407
65$1,663,440$666,505$480,347$1,253,129
66$1,776,774$642,827$440,102$1,302,436
67$1,899,894$616,214$396,734$1,355,717
68$2,033,741$586,467$350,083$1,413,405
69$2,179,353$553,374$299,981$1,475,982
70$2,337,869$516,712$246,253$1,543,981
71$2,510,546$476,244$188,716$1,617,994
72$2,698,762$431,722$127,179$1,698,679
73$2,904,040$382,880$61,443$1,786,763
74$3,128,051$329,440$0$1,883,055
75$3,372,636$271,107$0$1,989,751
76$3,639,824$207,569$0$2,116,421
77$3,931,844$138,499$0$2,255,012
78$4,251,155$63,548$0$2,406,776
79$4,600,460$0$0$2,573,098
80$4,982,739$0$0$2,762,309
81$5,401,271$0$0$2,996,332
82$5,859,667$0$0$3,252,722
83$6,361,905$0$0$3,533,714
84$6,912,365$0$0$3,841,766
85$7,515,870$0$0$4,179,590
86$8,177,733$0$0$4,550,169
87$8,903,807$0$0$4,956,792
88$9,700,537$0$0$5,403,079
89$10,575,022$0$0$5,893,020
90$11,535,083$0$0$6,431,007
91$12,589,335$0$0$7,021,881
92$13,747,267$0$0$7,670,975
93$15,019,333$0$0$8,384,161
94$16,417,051$0$0$9,167,910
95$17,953,106$0$0$10,029,352
96$19,641,477$0$0$10,976,339
97$21,497,563$0$0$12,017,526
98$23,538,327$0$0$13,162,443
99$25,782,462$0$0$14,421,595
100$28,250,560$0$0$15,806,553