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%15.6%
1 years$61,109$60,564$60,033$59,515$59,009$57,652
2 years$30,252$29,688$29,142$28,613$28,099$26,740
3 years$19,967$19,402$18,857$18,333$17,827$16,508
4 years$14,826$14,262$13,723$13,208$12,715$11,445
5 years$11,743$11,182$10,650$10,145$9,665$8,450
6 years$9,687$9,131$8,607$8,113$7,648$6,487
7 years$8,220$7,668$7,152$6,670$6,220$5,114
8 years$7,120$6,573$6,066$5,595$5,160$4,109
9 years$6,265$5,723$5,224$4,766$4,345$3,348
10 years$5,581$5,044$4,555$4,108$3,703$2,757
11 years$5,022$4,491$4,010$3,575$3,184$2,291
12 years$4,556$4,031$3,559$3,136$2,759$1,916
13 years$4,163$3,643$3,179$2,769$2,406$1,611
14 years$3,826$3,311$2,857$2,458$2,109$1,361
15 years$3,534$3,025$2,579$2,192$1,857$1,153
16 years$3,278$2,775$2,338$1,963$1,641$981
17 years$3,054$2,556$2,128$1,763$1,455$836
18 years$2,854$2,362$1,942$1,589$1,294$714
19 years$2,675$2,189$1,778$1,436$1,153$611
20 years$2,515$2,034$1,632$1,301$1,030$524
21 years$2,370$1,894$1,501$1,180$922$450
22 years$2,238$1,768$1,383$1,073$826$386
23 years$2,119$1,654$1,277$977$742$332
24 years$2,009$1,550$1,181$891$667$286
25 years$1,908$1,454$1,094$814$600$246
26 years$1,815$1,367$1,015$744$540$212
27 years$1,729$1,286$942$681$487$183
28 years$1,649$1,212$876$624$440$158
29 years$1,575$1,143$815$572$397$136
30 years$1,506$1,080$759$525$359$118
31 years$1,442$1,021$708$483$324$102
32 years$1,382$966$661$443$293$88
33 years$1,325$915$617$408$266$76
34 years$1,272$867$576$375$240$66
35 years$1,222$822$539$345$218$57
36 years$1,175$780$504$318$197$49
37 years$1,131$741$472$293$179$42
38 years$1,089$704$442$270$162$37
39 years$1,049$670$414$249$147$32
40 years$1,012$637$388$230$133$27
41 years$976$607$364$212$121$24
42 years$942$578$341$196$110$20
43 years$910$551$320$181$100$18
44 years$879$525$301$167$90$15
45 years$850$500$282$154$82$13
46 years$822$477$265$142$75$11
47 years$796$456$249$131$68$10
48 years$770$435$234$121$61$9
49 years$746$415$220$112$56$7
50 years$722$397$207$104$51$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $740,000, adding $3,802 every year, while hoping to spend $56,028 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: 42/34/24 Blend
52$740,000$740,000$740,000$740,000
53$819,402$780,182$768,712$847,918
54$843,367$758,797$734,850$847,275
55$867,900$734,487$697,977$840,940
56$892,997$707,049$657,931$832,968
57$918,657$676,268$614,545$823,240
58$944,873$641,918$567,645$811,628
59$971,637$603,759$517,049$798,000
60$998,938$561,538$462,564$782,211
61$1,026,762$514,986$403,992$764,110
62$1,055,091$463,819$341,125$743,537
63$1,083,903$407,739$273,746$720,321
64$1,113,172$346,428$201,626$694,279
65$1,142,865$279,553$124,530$665,221
66$1,172,945$206,759$42,211$632,940
67$1,203,370$127,674$0$597,221
68$1,234,087$41,904$0$569,519
69$1,265,038$0$0$550,198
70$1,296,157$0$0$547,317
71$1,327,365$0$0$560,105
72$1,358,575$0$0$572,841
73$1,389,687$0$0$585,478
74$1,420,586$0$0$597,961
75$1,451,146$0$0$610,230
76$1,481,222$0$0$622,215
77$1,510,650$0$0$633,840
78$1,539,247$0$0$645,018
79$1,566,809$0$0$655,651
80$1,593,104$0$0$665,631
81$1,617,876$0$0$674,837
82$1,640,836$0$0$683,134
83$1,661,662$0$0$690,369
84$1,679,998$0$0$696,376
85$1,695,442$0$0$700,967
86$1,707,550$0$0$703,933
87$1,715,827$0$0$705,042
88$1,719,722$0$0$704,038
89$1,718,625$0$0$700,635
90$1,711,856$0$0$694,515
91$1,698,661$0$0$685,327
92$1,678,205$0$0$672,682
93$1,649,559$0$0$656,146
94$1,611,698$0$0$635,241
95$1,563,482$0$0$609,437
96$1,503,651$0$0$578,147
97$1,430,808$0$0$540,722
98$1,343,411$0$0$496,443
99$1,239,748$0$0$444,516
100$1,117,930$0$0$384,061