Can I retire at age 53 with 689,000?

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 $689,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$56,897$56,390$55,896$55,413$54,942$54,233
2 years$28,167$27,642$27,134$26,641$26,163$25,449
3 years$18,591$18,065$17,557$17,069$16,599$15,903
4 years$13,805$13,279$12,777$12,297$11,838$11,166
5 years$10,933$10,411$9,916$9,446$8,999$8,352
6 years$9,020$8,501$8,013$7,554$7,121$6,500
7 years$7,653$7,140$6,659$6,210$5,791$5,196
8 years$6,629$6,120$5,647$5,210$4,804$4,236
9 years$5,833$5,328$4,864$4,437$4,046$3,503
10 years$5,196$4,697$4,241$3,825$3,447$2,930
11 years$4,676$4,181$3,733$3,329$2,965$2,473
12 years$4,242$3,753$3,313$2,920$2,569$2,101
13 years$3,876$3,392$2,960$2,578$2,240$1,796
14 years$3,562$3,083$2,660$2,288$1,964$1,543
15 years$3,290$2,816$2,401$2,041$1,729$1,331
16 years$3,053$2,584$2,177$1,827$1,528$1,152
17 years$2,843$2,380$1,981$1,642$1,355$1,000
18 years$2,657$2,199$1,809$1,480$1,205$870
19 years$2,491$2,038$1,656$1,337$1,074$758
20 years$2,342$1,894$1,519$1,211$959$662
21 years$2,207$1,764$1,398$1,099$858$579
22 years$2,084$1,647$1,288$999$769$507
23 years$1,973$1,540$1,189$910$691$445
24 years$1,870$1,443$1,100$830$621$391
25 years$1,776$1,354$1,019$758$559$343
26 years$1,690$1,273$945$693$503$302
27 years$1,610$1,198$877$634$454$265
28 years$1,536$1,129$816$581$409$234
29 years$1,467$1,065$759$533$370$206
30 years$1,403$1,005$707$489$334$181
31 years$1,343$950$659$449$302$160
32 years$1,286$899$615$413$273$141
33 years$1,234$852$574$380$247$124
34 years$1,185$807$537$349$224$110
35 years$1,138$766$502$322$203$97
36 years$1,094$727$469$296$184$86
37 years$1,053$690$439$273$166$76
38 years$1,014$656$411$252$151$67
39 years$977$624$385$232$137$59
40 years$942$593$361$214$124$52
41 years$909$565$339$197$113$46
42 years$877$538$318$182$102$41
43 years$847$513$298$168$93$36
44 years$819$489$280$155$84$32
45 years$791$466$263$143$76$28
46 years$765$444$247$132$69$25
47 years$741$424$232$122$63$22
48 years$717$405$218$113$57$19
49 years$694$387$205$104$52$17
50 years$673$369$193$97$47$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $689,000, adding $5,303 every year, while hoping to spend $56,760 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: 43/27/30 Blend
52$689,000$689,000$689,000$689,000
53$764,748$728,231$717,552$790,750
54$782,360$703,522$681,197$785,248
55$799,866$675,700$641,723$773,552
56$817,196$644,553$598,964$759,816
57$834,269$609,855$552,748$743,886
58$850,996$571,369$502,896$725,595
59$867,275$528,844$449,221$704,767
60$882,993$482,013$391,526$681,212
61$898,023$430,596$329,607$654,727
62$912,222$374,297$263,250$625,095
63$925,432$312,800$192,232$592,081
64$937,474$245,776$116,320$555,437
65$948,151$172,873$35,271$514,892
66$957,241$93,722$0$470,161
67$964,497$7,933$0$437,329
68$969,647$0$0$412,782
69$972,386$0$0$410,178
70$972,374$0$0$408,579
71$969,237$0$0$405,448
72$962,557$0$0$400,587
73$951,871$0$0$393,774
74$936,665$0$0$384,765
75$916,371$0$0$373,287
76$890,359$0$0$359,041
77$857,929$0$0$341,694
78$818,310$0$0$320,877
79$770,645$0$0$296,183
80$713,987$0$0$267,162
81$647,289$0$0$233,315
82$569,393$0$0$194,091
83$479,018$0$0$148,881
84$374,749$0$0$97,011
85$255,021$0$0$37,739
86$118,105$0$0$0
87$0$0$0$0
88$0$0$0$0
89$0$0$0$0
90$0$0$0$0
91$0$0$0$0
92$0$0$0$0
93$0$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0