Can I retire at age 53 with 742,000?

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 $742,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$61,274$60,728$60,195$59,676$59,168$58,869
2 years$30,333$29,769$29,221$28,690$28,175$27,874
3 years$20,021$19,454$18,908$18,382$17,876$17,581
4 years$14,866$14,301$13,760$13,243$12,749$12,463
5 years$11,774$11,212$10,678$10,172$9,692$9,415
6 years$9,713$9,155$8,630$8,135$7,669$7,402
7 years$8,242$7,689$7,171$6,688$6,237$5,980
8 years$7,139$6,591$6,082$5,610$5,174$4,928
9 years$6,281$5,738$5,238$4,779$4,357$4,121
10 years$5,596$5,058$4,567$4,119$3,713$3,487
11 years$5,035$4,503$4,021$3,585$3,193$2,977
12 years$4,569$4,042$3,568$3,145$2,767$2,561
13 years$4,174$3,652$3,188$2,776$2,413$2,216
14 years$3,836$3,320$2,864$2,464$2,115$1,928
15 years$3,543$3,033$2,586$2,198$1,862$1,684
16 years$3,287$2,783$2,345$1,968$1,646$1,476
17 years$3,062$2,563$2,134$1,768$1,459$1,298
18 years$2,862$2,368$1,948$1,593$1,298$1,145
19 years$2,683$2,195$1,783$1,440$1,157$1,012
20 years$2,522$2,039$1,636$1,304$1,033$896
21 years$2,376$1,900$1,505$1,184$924$795
22 years$2,245$1,773$1,387$1,076$829$706
23 years$2,124$1,658$1,281$980$744$628
24 years$2,014$1,554$1,185$894$669$560
25 years$1,913$1,458$1,097$816$602$499
26 years$1,820$1,370$1,018$746$542$445
27 years$1,734$1,290$945$683$489$398
28 years$1,654$1,215$878$626$441$356
29 years$1,580$1,147$817$574$398$318
30 years$1,510$1,083$761$527$360$285
31 years$1,446$1,024$710$484$325$255
32 years$1,385$969$662$445$294$228
33 years$1,329$917$618$409$266$205
34 years$1,276$869$578$376$241$183
35 years$1,226$825$540$346$218$164
36 years$1,178$783$505$319$198$148
37 years$1,134$743$473$294$179$132
38 years$1,092$706$443$271$163$119
39 years$1,052$672$415$250$147$107
40 years$1,014$639$389$230$134$96
41 years$979$608$365$213$121$86
42 years$945$579$342$196$110$77
43 years$912$552$321$181$100$69
44 years$882$526$301$167$91$62
45 years$852$502$283$154$82$56
46 years$824$479$266$143$75$50
47 years$798$457$250$132$68$45
48 years$772$436$235$122$62$41
49 years$748$416$221$113$56$37
50 years$724$398$207$104$51$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $742,000, adding $2,968 every year, while hoping to spend $31,757 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: 34/50/16 Blend
52$742,000$742,000$742,000$742,000
53$820,745$781,419$769,918$844,488
54$870,672$785,920$761,922$866,611
55$924,627$789,576$752,592$887,270
56$982,988$792,314$741,853$908,868
57$1,046,169$794,054$729,621$931,503
58$1,114,626$794,710$715,811$955,289
59$1,188,861$794,194$700,334$980,351
60$1,269,425$792,410$683,095$1,006,830
61$1,356,924$789,256$663,997$1,034,885
62$1,452,026$784,625$642,936$1,064,692
63$1,555,464$778,403$619,806$1,096,448
64$1,668,046$770,469$594,494$1,130,374
65$1,790,660$760,695$566,883$1,166,716
66$1,924,283$748,945$536,849$1,205,750
67$2,069,991$735,075$504,266$1,247,781
68$2,228,969$718,933$468,997$1,293,151
69$2,402,520$700,357$430,905$1,342,240
70$2,592,078$679,175$389,841$1,395,473
71$2,799,223$655,207$345,653$1,453,321
72$3,025,693$628,262$298,182$1,516,308
73$3,273,403$598,136$247,261$1,585,019
74$3,544,461$564,615$192,714$1,660,101
75$3,841,187$527,473$134,362$1,742,276
76$4,166,138$486,469$72,013$1,832,344
77$4,522,129$441,350$5,470$1,931,194
78$4,912,258$391,849$0$2,039,813
79$5,339,940$337,681$0$2,170,485
80$5,808,934$278,548$0$2,314,960
81$6,323,382$214,133$0$2,473,688
82$6,887,845$144,104$0$2,648,202
83$7,507,346$68,106$0$2,840,200
84$8,187,421$0$0$3,051,560
85$8,934,164$0$0$3,292,190
86$9,754,291$0$0$3,597,735
87$10,655,199$0$0$3,933,492
88$11,645,038$0$0$4,302,513
89$12,732,786$0$0$4,708,159
90$13,928,332$0$0$5,154,136
91$15,242,574$0$0$5,644,523
92$16,687,515$0$0$6,183,817
93$18,276,381$0$0$6,776,970
94$20,023,744$0$0$7,429,441
95$21,945,657$0$0$8,147,243
96$24,059,810$0$0$8,937,000
97$26,385,691$0$0$9,806,012
98$28,944,773$0$0$10,762,323
99$31,760,715$0$0$11,814,795
100$34,859,586$0$0$12,973,193