Can I retire at age 53 with 743,000?

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 $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%18%
1 years$61,356$60,810$60,277$59,756$59,248$57,328
2 years$30,374$29,809$29,260$28,729$28,213$26,297
3 years$20,048$19,480$18,933$18,407$17,900$16,048
4 years$14,886$14,320$13,779$13,261$12,766$10,992
5 years$11,790$11,227$10,693$10,186$9,705$8,013
6 years$9,727$9,168$8,641$8,146$7,679$6,072
7 years$8,253$7,699$7,181$6,697$6,245$4,722
8 years$7,149$6,600$6,090$5,618$5,181$3,740
9 years$6,290$5,746$5,245$4,785$4,363$3,004
10 years$5,603$5,065$4,573$4,125$3,718$2,437
11 years$5,042$4,509$4,026$3,590$3,197$1,994
12 years$4,575$4,047$3,573$3,149$2,771$1,641
13 years$4,179$3,657$3,192$2,780$2,416$1,358
14 years$3,841$3,324$2,868$2,468$2,118$1,128
15 years$3,548$3,037$2,590$2,201$1,865$940
16 years$3,292$2,786$2,348$1,971$1,648$786
17 years$3,066$2,566$2,136$1,771$1,461$658
18 years$2,865$2,371$1,950$1,596$1,299$553
19 years$2,686$2,198$1,785$1,442$1,158$465
20 years$2,525$2,042$1,639$1,306$1,034$391
21 years$2,380$1,902$1,507$1,185$926$329
22 years$2,248$1,776$1,389$1,078$830$278
23 years$2,127$1,661$1,283$981$745$234
24 years$2,017$1,556$1,186$895$669$198
25 years$1,916$1,460$1,099$817$602$167
26 years$1,822$1,372$1,019$747$543$141
27 years$1,736$1,292$946$684$489$120
28 years$1,656$1,217$880$627$441$101
29 years$1,582$1,148$819$575$399$86
30 years$1,512$1,084$762$527$360$72
31 years$1,448$1,025$711$484$326$61
32 years$1,387$970$663$445$295$52
33 years$1,331$918$619$409$267$44
34 years$1,277$870$579$377$241$37
35 years$1,227$826$541$347$219$32
36 years$1,180$784$506$319$198$27
37 years$1,136$744$474$294$180$23
38 years$1,093$707$444$271$163$19
39 years$1,054$673$416$250$148$16
40 years$1,016$640$389$231$134$14
41 years$980$609$365$213$121$12
42 years$946$580$343$196$110$10
43 years$914$553$321$181$100$8
44 years$883$527$302$167$91$7
45 years$853$502$283$155$82$6
46 years$825$479$266$143$75$5
47 years$799$457$250$132$68$4
48 years$773$437$235$122$62$4
49 years$749$417$221$113$56$3
50 years$725$398$208$104$51$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $743,000, adding $6,049 every year, while hoping to spend $46,734 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: 51/28/21 Blend
52$743,000$743,000$743,000$743,000
53$825,026$785,647$774,130$862,000
54$859,454$774,419$750,339$876,961
55$895,827$761,074$724,184$887,921
56$934,295$745,460$695,538$898,855
57$975,019$727,415$664,265$909,777
58$1,018,179$706,766$630,226$920,706
59$1,063,968$683,332$593,273$931,666
60$1,112,598$656,921$553,253$942,687
61$1,164,302$627,329$510,006$953,805
62$1,219,334$594,340$463,364$965,064
63$1,277,971$557,728$413,152$976,514
64$1,340,519$517,252$359,187$988,216
65$1,407,311$472,656$301,279$1,000,243
66$1,478,712$423,672$239,227$1,012,678
67$1,555,124$370,015$172,824$1,025,616
68$1,636,985$311,384$101,853$1,039,170
69$1,724,779$247,463$26,086$1,053,469
70$1,819,033$177,916$0$1,068,660
71$1,920,329$102,388$0$1,097,183
72$2,029,303$20,505$0$1,133,995
73$2,146,655$0$0$1,173,522
74$2,273,153$0$0$1,237,062
75$2,409,642$0$0$1,312,495
76$2,557,048$0$0$1,394,025
77$2,716,391$0$0$1,482,221
78$2,888,790$0$0$1,577,713
79$3,075,477$0$0$1,681,191
80$3,277,805$0$0$1,793,414
81$3,497,262$0$0$1,915,216
82$3,735,485$0$0$2,047,518
83$3,994,274$0$0$2,191,327
84$4,275,609$0$0$2,347,757
85$4,581,669$0$0$2,518,029
86$4,914,851$0$0$2,703,490
87$5,277,791$0$0$2,905,619
88$5,673,392$0$0$3,126,046
89$6,104,849$0$0$3,366,564
90$6,575,676$0$0$3,629,147
91$7,089,744$0$0$3,915,968
92$7,651,313$0$0$4,229,420
93$8,265,071$0$0$4,572,135
94$8,936,183$0$0$4,947,014
95$9,670,332$0$0$5,357,248
96$10,473,779$0$0$5,806,354
97$11,353,414$0$0$6,298,204
98$12,316,829$0$0$6,837,059
99$13,372,381$0$0$7,427,615
100$14,529,275$0$0$8,075,043