Can I retire at age 53 with 688,000?

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 $688,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.2%
1 years$56,814$56,308$55,815$55,333$54,862$53,042
2 years$28,126$27,602$27,094$26,602$26,125$24,309
3 years$18,564$18,038$17,532$17,044$16,575$14,820
4 years$13,785$13,260$12,759$12,279$11,821$10,141
5 years$10,917$10,396$9,901$9,432$8,986$7,385
6 years$9,007$8,489$8,002$7,543$7,111$5,589
7 years$7,642$7,129$6,649$6,201$5,783$4,342
8 years$6,619$6,111$5,639$5,202$4,797$3,435
9 years$5,824$5,321$4,857$4,431$4,040$2,755
10 years$5,189$4,690$4,235$3,820$3,442$2,233
11 years$4,669$4,175$3,728$3,324$2,961$1,824
12 years$4,236$3,747$3,309$2,916$2,566$1,500
13 years$3,870$3,387$2,956$2,574$2,237$1,239
14 years$3,557$3,078$2,656$2,285$1,961$1,028
15 years$3,285$2,812$2,398$2,038$1,727$856
16 years$3,048$2,580$2,174$1,825$1,526$714
17 years$2,839$2,376$1,978$1,639$1,353$597
18 years$2,653$2,196$1,806$1,477$1,203$501
19 years$2,487$2,035$1,653$1,335$1,072$420
20 years$2,338$1,891$1,517$1,209$958$353
21 years$2,204$1,761$1,396$1,097$857$297
22 years$2,081$1,644$1,286$998$768$250
23 years$1,970$1,538$1,188$909$690$211
24 years$1,868$1,441$1,098$829$620$178
25 years$1,774$1,352$1,017$757$558$150
26 years$1,687$1,271$944$692$502$127
27 years$1,607$1,196$876$633$453$107
28 years$1,533$1,127$814$580$409$90
29 years$1,465$1,063$758$532$369$76
30 years$1,400$1,004$706$488$334$64
31 years$1,341$949$658$449$302$54
32 years$1,285$898$614$412$273$46
33 years$1,232$850$573$379$247$39
34 years$1,183$806$536$349$223$33
35 years$1,136$765$501$321$202$28
36 years$1,093$726$469$296$183$24
37 years$1,051$689$439$272$166$20
38 years$1,012$655$411$251$151$17
39 years$976$623$385$232$137$14
40 years$941$593$361$214$124$12
41 years$907$564$338$197$112$10
42 years$876$537$317$182$102$9
43 years$846$512$298$168$93$7
44 years$817$488$279$155$84$6
45 years$790$465$262$143$76$5
46 years$764$444$246$132$69$4
47 years$740$424$232$122$63$4
48 years$716$404$218$113$57$3
49 years$693$386$204$104$52$3
50 years$672$369$192$96$47$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $688,000, adding $5,136 every year, while hoping to spend $37,149 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: 88/7/5 Blend
52$688,000$688,000$688,000$688,000
53$763,474$727,010$716,346$830,285
54$801,822$723,107$700,817$870,637
55$842,836$717,768$683,523$909,244
56$886,750$710,883$664,366$950,456
57$933,818$702,336$643,241$994,507
58$984,321$692,003$620,043$1,041,654
59$1,038,565$679,755$594,658$1,092,181
60$1,096,888$665,453$566,969$1,146,397
61$1,159,661$648,950$536,852$1,204,646
62$1,227,289$630,092$504,180$1,267,303
63$1,300,220$608,713$468,817$1,334,783
64$1,378,944$584,642$430,624$1,407,541
65$1,464,000$557,693$389,453$1,486,079
66$1,555,980$527,672$345,152$1,570,950
67$1,655,536$494,374$297,561$1,662,763
68$1,763,383$457,580$246,512$1,762,185
69$1,880,309$417,062$191,830$1,869,957
70$2,007,178$372,576$133,334$1,986,888
71$2,144,943$323,865$70,834$2,113,874
72$2,294,650$270,658$4,130$2,251,901
73$2,457,452$212,667$0$2,402,053
74$2,634,615$149,591$0$2,569,103
75$2,827,533$81,109$0$2,751,259
76$3,037,741$6,882$0$2,949,763
77$3,266,927$0$0$3,166,226
78$3,516,949$0$0$3,408,081
79$3,789,853$0$0$3,672,652
80$4,087,888$0$0$3,961,594
81$4,413,535$0$0$4,277,309
82$4,769,522$0$0$4,622,443
83$5,158,852$0$0$4,999,910
84$5,584,833$0$0$5,412,917
85$6,051,107$0$0$5,864,995
86$6,561,684$0$0$6,360,034
87$7,120,982$0$0$6,902,317
88$7,733,863$0$0$7,496,560
89$8,405,684$0$0$8,147,957
90$9,142,344$0$0$8,862,229
91$9,950,341$0$0$9,645,677
92$10,836,831$0$0$10,505,241
93$11,809,697$0$0$11,448,565
94$12,877,621$0$0$12,484,069
95$14,050,170$0$0$13,621,030
96$15,337,877$0$0$14,869,663
97$16,752,351$0$0$16,241,224
98$18,306,376$0$0$17,748,112
99$20,014,038$0$0$19,403,987
100$21,890,854$0$0$21,223,897