Can I retire at age 53 with 700,000?

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 $700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$57,805$57,290$56,788$56,298$55,819$55,444
2 years$28,617$28,084$27,567$27,066$26,580$26,202
3 years$18,888$18,353$17,838$17,342$16,864$16,494
4 years$14,025$13,491$12,981$12,494$12,027$11,669
5 years$11,108$10,577$10,074$9,596$9,143$8,797
6 years$9,164$8,637$8,141$7,674$7,235$6,901
7 years$7,776$7,254$6,765$6,309$5,884$5,564
8 years$6,735$6,218$5,738$5,293$4,881$4,574
9 years$5,926$5,414$4,942$4,508$4,111$3,816
10 years$5,279$4,772$4,308$3,886$3,502$3,221
11 years$4,750$4,248$3,793$3,382$3,012$2,743
12 years$4,310$3,813$3,366$2,967$2,610$2,354
13 years$3,938$3,446$3,008$2,619$2,276$2,032
14 years$3,619$3,132$2,702$2,325$1,995$1,763
15 years$3,343$2,861$2,440$2,073$1,757$1,536
16 years$3,101$2,625$2,212$1,857$1,553$1,343
17 years$2,889$2,418$2,013$1,668$1,377$1,178
18 years$2,700$2,234$1,837$1,503$1,224$1,036
19 years$2,531$2,070$1,682$1,358$1,091$913
20 years$2,379$1,924$1,544$1,230$975$806
21 years$2,242$1,792$1,420$1,117$872$713
22 years$2,117$1,673$1,309$1,015$782$632
23 years$2,004$1,565$1,208$925$702$560
24 years$1,900$1,466$1,118$843$631$497
25 years$1,805$1,376$1,035$770$568$442
26 years$1,717$1,293$960$704$511$393
27 years$1,635$1,217$891$645$461$350
28 years$1,560$1,147$829$591$416$312
29 years$1,490$1,082$771$542$376$278
30 years$1,425$1,021$718$497$339$248
31 years$1,364$966$670$456$307$222
32 years$1,307$914$625$419$278$198
33 years$1,254$865$583$386$251$177
34 years$1,203$820$545$355$227$158
35 years$1,156$778$510$327$206$141
36 years$1,112$738$477$301$187$126
37 years$1,070$701$446$277$169$113
38 years$1,030$666$418$256$153$101
39 years$993$634$391$236$139$90
40 years$957$603$367$217$126$81
41 years$923$574$344$201$114$72
42 years$891$547$323$185$104$65
43 years$861$521$303$171$94$58
44 years$832$496$284$158$86$52
45 years$804$473$267$146$78$46
46 years$778$452$251$135$70$42
47 years$753$431$236$124$64$37
48 years$728$411$221$115$58$33
49 years$705$393$208$106$53$30
50 years$683$375$196$98$48$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $700,000, adding $2,999 every year, while hoping to spend $22,295 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: 37/49/14 Blend
52$700,000$700,000$700,000$700,000
53$774,493$737,393$726,543$799,738
54$829,770$749,804$727,161$830,526
55$889,938$762,075$727,052$861,400
56$955,472$774,177$726,168$894,265
57$1,026,895$786,077$724,460$929,310
58$1,104,783$797,740$721,875$966,743
59$1,189,771$809,129$718,357$1,006,797
60$1,282,554$820,203$713,849$1,049,726
61$1,383,901$830,919$708,289$1,095,813
62$1,494,657$841,233$701,615$1,145,370
63$1,615,752$851,093$693,759$1,198,741
64$1,748,212$860,450$684,653$1,256,307
65$1,893,163$869,245$674,223$1,318,489
66$2,051,849$877,421$662,392$1,385,752
67$2,225,636$884,913$649,081$1,458,609
68$2,416,031$891,654$634,205$1,537,628
69$2,624,693$897,572$617,678$1,623,435
70$2,853,448$902,590$599,407$1,716,722
71$3,104,309$906,627$579,296$1,818,255
72$3,379,492$909,595$557,246$1,928,877
73$3,681,438$911,403$533,152$2,049,523
74$4,012,836$911,952$506,903$2,181,221
75$4,376,646$911,139$478,386$2,325,109
76$4,776,132$908,853$447,479$2,482,443
77$5,214,887$904,976$414,060$2,654,612
78$5,696,870$899,385$377,995$2,843,145
79$6,226,443$891,946$339,150$3,049,733
80$6,808,409$882,521$297,381$3,276,243
81$7,448,063$870,960$252,539$3,524,736
82$8,151,235$857,106$204,468$3,797,486
83$8,924,349$840,793$153,006$4,097,003
84$9,774,484$821,844$97,984$4,426,058
85$10,709,439$800,071$39,223$4,787,709
86$11,737,804$775,278$0$5,185,330
87$12,869,047$747,253$0$5,626,155
88$14,113,597$715,776$0$6,117,266
89$15,482,947$680,611$0$6,657,362
90$16,989,758$641,511$0$7,251,478
91$18,647,981$598,213$0$7,905,167
92$20,472,988$550,439$0$8,624,556
93$22,481,719$497,896$0$9,416,398
94$24,692,835$440,274$0$10,288,144
95$27,126,901$377,245$0$11,248,010
96$29,806,578$308,462$0$12,305,058
97$32,756,832$233,560$0$13,469,279
98$36,005,176$152,152$0$14,751,693
99$39,581,927$63,831$0$16,164,450
100$43,520,490$0$0$17,720,950