Can I retire at age 53 with 705,000?

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 $705,000?

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 years$58,218$57,700$57,194$56,700$56,218$55,515
2 years$28,821$28,284$27,764$27,260$26,770$26,063
3 years$19,023$18,484$17,965$17,465$16,984$16,295
4 years$14,125$13,588$13,074$12,583$12,113$11,447
5 years$11,187$10,653$10,146$9,665$9,208$8,567
6 years$9,229$8,699$8,199$7,729$7,286$6,670
7 years$7,831$7,305$6,814$6,354$5,926$5,336
8 years$6,783$6,262$5,779$5,331$4,916$4,352
9 years$5,968$5,452$4,977$4,541$4,140$3,601
10 years$5,317$4,806$4,339$3,914$3,527$3,014
11 years$4,784$4,278$3,820$3,406$3,034$2,545
12 years$4,341$3,840$3,390$2,988$2,629$2,164
13 years$3,966$3,470$3,029$2,638$2,292$1,851
14 years$3,645$3,154$2,722$2,342$2,010$1,591
15 years$3,366$2,882$2,457$2,088$1,769$1,374
16 years$3,123$2,644$2,228$1,870$1,564$1,189
17 years$2,909$2,435$2,027$1,680$1,387$1,033
18 years$2,719$2,250$1,851$1,514$1,233$899
19 years$2,549$2,085$1,694$1,368$1,099$785
20 years$2,396$1,938$1,555$1,239$982$686
21 years$2,258$1,805$1,430$1,124$878$600
22 years$2,133$1,685$1,318$1,022$787$526
23 years$2,018$1,576$1,217$931$707$462
24 years$1,914$1,476$1,126$849$635$406
25 years$1,818$1,385$1,042$776$572$357
26 years$1,729$1,302$967$709$515$314
27 years$1,647$1,225$898$649$464$276
28 years$1,571$1,155$835$595$419$244
29 years$1,501$1,089$777$545$378$215
30 years$1,435$1,029$723$501$342$189
31 years$1,374$973$674$460$309$167
32 years$1,316$920$629$422$279$147
33 years$1,263$871$588$388$253$130
34 years$1,212$826$549$357$229$115
35 years$1,164$783$513$329$207$102
36 years$1,120$744$480$303$188$90
37 years$1,077$706$449$279$170$79
38 years$1,037$671$421$257$154$70
39 years$1,000$638$394$237$140$62
40 years$964$607$370$219$127$55
41 years$930$578$347$202$115$48
42 years$898$550$325$186$105$43
43 years$867$524$305$172$95$38
44 years$838$500$286$159$86$33
45 years$810$477$269$147$78$30
46 years$783$455$253$136$71$26
47 years$758$434$237$125$64$23
48 years$734$414$223$116$59$21
49 years$710$396$210$107$53$18
50 years$688$378$197$99$48$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $705,000, adding $5,996 every year, while hoping to spend $26,455 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: 45/48/7 Blend
52$705,000$705,000$705,000$705,000
53$783,095$745,730$734,802$816,542
54$834,823$754,123$731,270$848,628
55$890,940$762,040$726,733$880,179
56$951,867$769,431$721,130$913,774
57$1,018,065$776,241$714,395$949,611
58$1,090,041$782,411$706,462$987,907
59$1,168,356$787,879$697,259$1,028,903
60$1,253,624$792,581$686,712$1,072,866
61$1,346,520$796,444$674,744$1,120,089
62$1,447,791$799,395$661,273$1,170,900
63$1,558,255$801,355$646,215$1,225,658
64$1,678,814$802,238$629,480$1,284,761
65$1,810,461$801,956$610,976$1,348,651
66$1,954,289$800,413$590,605$1,417,814
67$2,111,501$797,507$568,264$1,492,788
68$2,283,421$793,133$543,848$1,574,170
69$2,471,509$787,175$517,246$1,662,616
70$2,677,370$779,513$488,341$1,758,855
71$2,902,772$770,020$457,010$1,863,690
72$3,149,663$758,559$423,129$1,978,009
73$3,420,187$744,987$386,562$2,102,794
74$3,716,706$729,152$347,172$2,239,129
75$4,041,822$710,892$304,814$2,388,214
76$4,398,399$690,037$259,336$2,551,371
77$4,789,592$666,405$210,581$2,730,064
78$5,218,878$639,806$158,383$2,925,907
79$5,690,085$610,038$102,569$3,140,686
80$6,207,429$576,885$42,961$3,376,370
81$6,775,556$540,122$0$3,635,135
82$7,399,584$499,510$0$3,920,928
83$8,085,150$454,794$0$4,238,384
84$8,838,464$405,708$0$4,587,235
85$9,666,368$351,968$0$4,970,732
86$10,576,399$293,276$0$5,392,463
87$11,576,862$229,316$0$5,856,385
88$12,676,904$159,754$0$6,366,869
89$13,886,605$84,239$0$6,928,735
90$15,217,070$2,399$0$7,547,303
91$16,680,535$0$0$8,228,442
92$18,290,480$0$0$9,024,139
93$20,061,758$0$0$9,901,063
94$22,010,734$0$0$10,866,062
95$24,155,440$0$0$11,928,077
96$26,515,744$0$0$13,096,957
97$29,113,537$0$0$14,383,559
98$31,972,940$0$0$15,799,841
99$35,120,532$0$0$17,358,982
100$38,585,599$0$0$19,075,504