Can I retire at age 53 with 743,000?

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 $743,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.7%
1 years$61,356$60,810$60,277$59,756$59,248$57,629
2 years$30,374$29,809$29,260$28,729$28,213$26,594
3 years$20,048$19,480$18,933$18,407$17,900$16,331
4 years$14,886$14,320$13,779$13,261$12,766$11,260
5 years$11,790$11,227$10,693$10,186$9,705$8,265
6 years$9,727$9,168$8,641$8,146$7,679$6,307
7 years$8,253$7,699$7,181$6,697$6,245$4,941
8 years$7,149$6,600$6,090$5,618$5,181$3,944
9 years$6,290$5,746$5,245$4,785$4,363$3,193
10 years$5,603$5,065$4,573$4,125$3,718$2,612
11 years$5,042$4,509$4,026$3,590$3,197$2,154
12 years$4,575$4,047$3,573$3,149$2,771$1,789
13 years$4,179$3,657$3,192$2,780$2,416$1,493
14 years$3,841$3,324$2,868$2,468$2,118$1,252
15 years$3,548$3,037$2,590$2,201$1,865$1,053
16 years$3,292$2,786$2,348$1,971$1,648$888
17 years$3,066$2,566$2,136$1,771$1,461$751
18 years$2,865$2,371$1,950$1,596$1,299$637
19 years$2,686$2,198$1,785$1,442$1,158$540
20 years$2,525$2,042$1,639$1,306$1,034$459
21 years$2,380$1,902$1,507$1,185$926$391
22 years$2,248$1,776$1,389$1,078$830$333
23 years$2,127$1,661$1,283$981$745$284
24 years$2,017$1,556$1,186$895$669$242
25 years$1,916$1,460$1,099$817$602$207
26 years$1,822$1,372$1,019$747$543$177
27 years$1,736$1,292$946$684$489$151
28 years$1,656$1,217$880$627$441$129
29 years$1,582$1,148$819$575$399$110
30 years$1,512$1,084$762$527$360$95
31 years$1,448$1,025$711$484$326$81
32 years$1,387$970$663$445$295$69
33 years$1,331$918$619$409$267$59
34 years$1,277$870$579$377$241$51
35 years$1,227$826$541$347$219$43
36 years$1,180$784$506$319$198$37
37 years$1,136$744$474$294$180$32
38 years$1,093$707$444$271$163$27
39 years$1,054$673$416$250$148$23
40 years$1,016$640$389$231$134$20
41 years$980$609$365$213$121$17
42 years$946$580$343$196$110$15
43 years$914$553$321$181$100$13
44 years$883$527$302$167$91$11
45 years$853$502$283$155$82$9
46 years$825$479$266$143$75$8
47 years$799$457$250$132$68$7
48 years$773$437$235$122$62$6
49 years$749$417$221$113$56$5
50 years$725$398$208$104$51$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $743,000, adding $5,385 every year, while hoping to spend $29,771 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: 66/19/15 Blend
52$743,000$743,000$743,000$743,000
53$824,341$784,962$773,445$875,460
54$876,747$791,749$767,679$917,075
55$933,502$797,870$760,723$958,577
56$995,016$803,263$752,504$1,003,202
57$1,061,742$807,858$742,948$1,051,255
58$1,134,180$811,583$731,977$1,103,071
59$1,212,877$814,361$719,509$1,159,022
60$1,298,436$816,110$705,457$1,219,516
61$1,391,520$816,743$689,734$1,285,005
62$1,492,859$816,167$672,244$1,355,986
63$1,603,255$814,285$652,889$1,433,008
64$1,723,593$810,991$631,566$1,516,678
65$1,854,845$806,174$608,169$1,607,664
66$1,998,081$799,719$582,585$1,706,704
67$2,154,480$791,499$554,696$1,814,612
68$2,325,337$781,383$524,379$1,932,287
69$2,512,082$769,232$491,506$2,060,718
70$2,716,286$754,896$455,943$2,200,999
71$2,939,680$738,219$417,550$2,354,336
72$3,184,170$719,034$376,180$2,522,059
73$3,451,854$697,165$331,681$2,705,636
74$3,745,043$672,426$283,892$2,906,686
75$4,066,282$644,619$232,647$3,126,994
76$4,418,373$613,536$177,771$3,368,531
77$4,804,404$578,956$119,083$3,633,470
78$5,227,774$540,645$56,393$3,924,207
79$5,692,226$498,356$0$4,243,386
80$6,201,887$451,829$0$4,595,605
81$6,761,298$400,787$0$4,992,139
82$7,375,463$344,939$0$5,427,533
83$8,049,896$283,977$0$5,905,737
84$8,790,668$217,574$0$6,431,101
85$9,604,469$145,388$0$7,008,421
86$10,498,668$67,055$0$7,642,986
87$11,481,384$0$0$8,340,623
88$12,561,559$0$0$9,111,480
89$13,749,048$0$0$9,974,383
90$15,054,707$0$0$10,923,210
91$16,490,496$0$0$11,966,656
92$18,069,592$0$0$13,114,307
93$19,806,513$0$0$14,376,720
94$21,717,255$0$0$15,765,530
95$23,819,443$0$0$17,293,552
96$26,132,496$0$0$18,974,911
97$28,677,809$0$0$20,825,168
98$31,478,958$0$0$22,861,467
99$34,561,919$0$0$25,102,701
100$37,955,313$0$0$27,569,686