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%19%
1 years$61,274$60,728$60,195$59,676$59,168$57,023
2 years$30,333$29,769$29,221$28,690$28,175$26,038
3 years$20,021$19,454$18,908$18,382$17,876$15,813
4 years$14,866$14,301$13,760$13,243$12,749$10,777
5 years$11,774$11,212$10,678$10,172$9,692$7,815
6 years$9,713$9,155$8,630$8,135$7,669$5,889
7 years$8,242$7,689$7,171$6,688$6,237$4,554
8 years$7,139$6,591$6,082$5,610$5,174$3,586
9 years$6,281$5,738$5,238$4,779$4,357$2,862
10 years$5,596$5,058$4,567$4,119$3,713$2,308
11 years$5,035$4,503$4,021$3,585$3,193$1,876
12 years$4,569$4,042$3,568$3,145$2,767$1,534
13 years$4,174$3,652$3,188$2,776$2,413$1,260
14 years$3,836$3,320$2,864$2,464$2,115$1,040
15 years$3,543$3,033$2,586$2,198$1,862$861
16 years$3,287$2,783$2,345$1,968$1,646$714
17 years$3,062$2,563$2,134$1,768$1,459$594
18 years$2,862$2,368$1,948$1,593$1,298$495
19 years$2,683$2,195$1,783$1,440$1,157$413
20 years$2,522$2,039$1,636$1,304$1,033$345
21 years$2,376$1,900$1,505$1,184$924$288
22 years$2,245$1,773$1,387$1,076$829$241
23 years$2,124$1,658$1,281$980$744$202
24 years$2,014$1,554$1,185$894$669$169
25 years$1,913$1,458$1,097$816$602$142
26 years$1,820$1,370$1,018$746$542$119
27 years$1,734$1,290$945$683$489$100
28 years$1,654$1,215$878$626$441$84
29 years$1,580$1,147$817$574$398$70
30 years$1,510$1,083$761$527$360$59
31 years$1,446$1,024$710$484$325$50
32 years$1,385$969$662$445$294$42
33 years$1,329$917$618$409$266$35
34 years$1,276$869$578$376$241$29
35 years$1,226$825$540$346$218$25
36 years$1,178$783$505$319$198$21
37 years$1,134$743$473$294$179$17
38 years$1,092$706$443$271$163$15
39 years$1,052$672$415$250$147$12
40 years$1,014$639$389$230$134$10
41 years$979$608$365$213$121$9
42 years$945$579$342$196$110$7
43 years$912$552$321$181$100$6
44 years$882$526$301$167$91$5
45 years$852$502$283$154$82$4
46 years$824$479$266$143$75$4
47 years$798$457$250$132$68$3
48 years$772$436$235$122$62$3
49 years$748$416$221$113$56$2
50 years$724$398$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 $742,000, adding $2,074 every year, while hoping to spend $49,263 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: 64/16/20 Blend
52$742,000$742,000$742,000$742,000
53$819,823$780,497$768,996$867,984
54$851,030$766,326$742,342$886,460
55$883,768$749,810$713,144$900,875
56$918,143$730,781$681,265$915,471
57$954,267$709,063$646,561$930,271
58$992,264$684,468$608,882$945,298
59$1,032,267$656,800$568,072$960,581
60$1,074,423$625,847$523,967$976,155
61$1,118,890$591,389$476,395$992,059
62$1,165,841$553,191$425,179$1,008,338
63$1,215,465$511,006$370,130$1,025,047
64$1,267,967$464,571$311,055$1,042,246
65$1,323,574$413,608$247,749$1,060,005
66$1,382,530$357,827$180,001$1,078,405
67$1,445,104$296,916$107,587$1,097,537
68$1,511,590$230,550$30,276$1,117,506
69$1,582,308$158,384$0$1,138,431
70$1,657,611$80,052$0$1,171,592
71$1,737,883$0$0$1,213,616
72$1,823,545$0$0$1,259,113
73$1,915,059$0$0$1,322,805
74$2,012,931$0$0$1,390,955
75$2,117,715$0$0$1,463,953
76$2,230,022$0$0$1,542,227
77$2,350,516$0$0$1,626,247
78$2,479,932$0$0$1,716,528
79$2,619,073$0$0$1,813,637
80$2,768,820$0$0$1,918,194
81$2,930,144$0$0$2,030,883
82$3,104,109$0$0$2,152,452
83$3,291,883$0$0$2,283,726
84$3,494,752$0$0$2,425,609
85$3,714,127$0$0$2,579,096
86$3,951,559$0$0$2,745,280
87$4,208,756$0$0$2,925,363
88$4,487,591$0$0$3,120,666
89$4,790,129$0$0$3,332,643
90$5,118,637$0$0$3,562,892
91$5,475,610$0$0$3,813,172
92$5,863,792$0$0$4,085,416
93$6,286,204$0$0$4,381,753
94$6,746,168$0$0$4,704,525
95$7,247,339$0$0$5,056,309
96$7,793,741$0$0$5,439,939
97$8,389,801$0$0$5,858,539
98$9,040,395$0$0$6,315,543
99$9,750,887$0$0$6,814,734
100$10,527,182$0$0$7,360,275