Can I retire at age 53 with 698,000?

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 $698,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.5%
1 years$57,640$57,127$56,626$56,137$55,660$55,078
2 years$28,535$28,003$27,488$26,989$26,505$25,919
3 years$18,834$18,300$17,787$17,292$16,816$16,244
4 years$13,985$13,453$12,944$12,458$11,993$11,440
5 years$11,076$10,547$10,045$9,569$9,117$8,584
6 years$9,137$8,613$8,118$7,652$7,214$6,702
7 years$7,753$7,233$6,746$6,291$5,867$5,376
8 years$6,716$6,200$5,721$5,278$4,867$4,397
9 years$5,909$5,398$4,928$4,495$4,099$3,649
10 years$5,264$4,758$4,296$3,875$3,492$3,064
11 years$4,737$4,236$3,782$3,373$3,004$2,595
12 years$4,298$3,802$3,357$2,958$2,603$2,214
13 years$3,926$3,436$2,999$2,612$2,270$1,900
14 years$3,608$3,123$2,695$2,318$1,990$1,639
15 years$3,333$2,853$2,433$2,067$1,752$1,419
16 years$3,092$2,618$2,206$1,851$1,548$1,233
17 years$2,880$2,411$2,007$1,663$1,373$1,075
18 years$2,692$2,228$1,832$1,499$1,221$939
19 years$2,524$2,064$1,677$1,354$1,088$822
20 years$2,372$1,918$1,539$1,227$972$721
21 years$2,236$1,787$1,416$1,113$870$634
22 years$2,111$1,668$1,305$1,012$780$558
23 years$1,998$1,560$1,205$922$700$491
24 years$1,895$1,462$1,114$841$629$433
25 years$1,800$1,372$1,032$768$566$382
26 years$1,712$1,289$957$702$510$338
27 years$1,631$1,213$889$643$460$299
28 years$1,556$1,143$826$589$415$264
29 years$1,486$1,079$769$540$374$234
30 years$1,421$1,019$716$496$338$207
31 years$1,360$963$668$455$306$183
32 years$1,303$911$623$418$277$163
33 years$1,250$863$582$385$250$144
34 years$1,200$818$544$354$227$128
35 years$1,153$776$508$326$205$113
36 years$1,109$736$475$300$186$101
37 years$1,067$699$445$276$169$89
38 years$1,027$664$417$255$153$79
39 years$990$632$390$235$139$70
40 years$954$601$366$217$126$62
41 years$921$572$343$200$114$55
42 years$889$545$322$185$104$49
43 years$858$519$302$170$94$44
44 years$829$495$283$157$85$39
45 years$802$472$266$145$77$35
46 years$775$450$250$134$70$31
47 years$750$430$235$124$64$27
48 years$726$410$221$115$58$24
49 years$703$392$207$106$53$22
50 years$681$374$195$98$48$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $698,000, adding $5,168 every year, while hoping to spend $47,009 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: 65/11/24 Blend
52$698,000$698,000$698,000$698,000
53$774,527$737,533$726,714$819,727
54$803,511$723,655$701,041$836,932
55$833,877$707,521$672,934$849,975
56$865,714$688,972$642,259$863,161
57$899,123$667,837$608,880$876,507
58$934,210$643,937$572,654$890,034
59$971,092$617,083$533,431$903,768
60$1,009,897$587,073$491,054$917,736
61$1,050,761$553,695$445,360$931,973
62$1,093,837$516,724$396,177$946,519
63$1,139,287$475,922$343,328$961,419
64$1,187,290$431,038$286,625$976,725
65$1,238,040$381,806$225,874$992,500
66$1,291,752$327,946$160,872$1,008,812
67$1,348,656$269,160$91,406$1,025,741
68$1,409,006$205,137$17,256$1,043,378
69$1,473,079$135,543$0$1,061,826
70$1,541,180$60,031$0$1,097,047
71$1,613,639$0$0$1,139,075
72$1,690,819$0$0$1,186,335
73$1,773,118$0$0$1,244,505
74$1,860,971$0$0$1,306,628
75$1,954,856$0$0$1,373,047
76$2,055,296$0$0$1,444,134
77$2,162,862$0$0$1,520,300
78$2,278,186$0$0$1,601,994
79$2,401,956$0$0$1,689,710
80$2,534,929$0$0$1,783,988
81$2,677,937$0$0$1,885,423
82$2,831,891$0$0$1,994,668
83$2,997,795$0$0$2,112,440
84$3,176,747$0$0$2,239,524
85$3,369,958$0$0$2,376,788
86$3,578,755$0$0$2,525,181
87$3,804,600$0$0$2,685,747
88$4,049,096$0$0$2,859,636
89$4,314,008$0$0$3,048,109
90$4,601,276$0$0$3,252,556
91$4,913,033$0$0$3,474,502
92$5,251,626$0$0$3,715,628
93$5,619,636$0$0$3,977,781
94$6,019,901$0$0$4,262,993
95$6,455,547$0$0$4,573,500
96$6,930,008$0$0$4,911,763
97$7,447,069$0$0$5,280,489
98$8,010,891$0$0$5,682,659
99$8,626,056$0$0$6,121,552
100$9,297,607$0$0$6,600,779