Can I retire at age 53 with 708,000?

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 $708,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.4%
1 years$58,466$57,945$57,437$56,941$56,457$55,204
2 years$28,944$28,405$27,882$27,376$26,884$25,629
3 years$19,104$18,563$18,042$17,540$17,056$15,837
4 years$14,185$13,646$13,130$12,636$12,165$10,991
5 years$11,235$10,698$10,189$9,706$9,248$8,123
6 years$9,268$8,736$8,234$7,762$7,317$6,243
7 years$7,864$7,336$6,843$6,382$5,951$4,927
8 years$6,812$6,289$5,803$5,353$4,937$3,963
9 years$5,994$5,475$4,998$4,560$4,158$3,233
10 years$5,339$4,826$4,358$3,931$3,542$2,666
11 years$4,805$4,297$3,836$3,421$3,047$2,218
12 years$4,359$3,856$3,405$3,001$2,640$1,857
13 years$3,983$3,485$3,042$2,649$2,302$1,564
14 years$3,660$3,168$2,733$2,351$2,018$1,323
15 years$3,381$2,894$2,468$2,097$1,777$1,123
16 years$3,137$2,655$2,237$1,878$1,570$956
17 years$2,922$2,445$2,036$1,687$1,392$816
18 years$2,730$2,259$1,858$1,520$1,238$698
19 years$2,560$2,094$1,701$1,374$1,104$599
20 years$2,406$1,946$1,561$1,244$986$514
21 years$2,268$1,813$1,436$1,129$882$442
22 years$2,142$1,692$1,324$1,027$791$380
23 years$2,027$1,582$1,222$935$710$327
24 years$1,922$1,483$1,130$853$638$282
25 years$1,825$1,391$1,047$779$574$244
26 years$1,736$1,308$971$712$517$210
27 years$1,654$1,231$902$652$466$182
28 years$1,578$1,160$838$597$421$157
29 years$1,507$1,094$780$548$380$136
30 years$1,441$1,033$727$503$343$117
31 years$1,380$977$677$462$310$101
32 years$1,322$924$632$424$281$88
33 years$1,268$875$590$390$254$76
34 years$1,217$829$551$359$230$66
35 years$1,169$787$515$330$208$57
36 years$1,124$747$482$304$189$49
37 years$1,082$709$451$280$171$43
38 years$1,042$674$423$258$155$37
39 years$1,004$641$396$238$141$32
40 years$968$610$371$220$128$28
41 years$934$580$348$203$116$24
42 years$901$553$326$187$105$21
43 years$871$527$306$173$95$18
44 years$841$502$288$160$87$16
45 years$813$479$270$147$79$14
46 years$787$457$254$136$71$12
47 years$761$436$238$126$65$10
48 years$737$416$224$116$59$9
49 years$714$397$210$107$53$8
50 years$691$380$198$99$49$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $708,000, adding $2,803 every year, while hoping to spend $29,198 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: 59/24/17 Blend
52$708,000$708,000$708,000$708,000
53$783,107$745,583$734,609$825,711
54$831,918$751,050$728,152$860,325
55$884,728$755,807$720,500$894,591
56$941,916$759,787$711,583$931,287
57$1,003,896$762,921$701,325$970,652
58$1,071,124$765,134$689,650$1,012,952
59$1,144,101$766,348$676,475$1,058,477
60$1,223,379$766,479$661,717$1,107,551
61$1,309,564$765,438$645,286$1,160,529
62$1,403,325$763,129$627,088$1,217,807
63$1,505,395$759,453$607,026$1,279,818
64$1,616,583$754,304$584,999$1,347,044
65$1,737,777$747,568$560,899$1,420,015
66$1,869,957$739,125$534,616$1,499,319
67$2,014,199$728,849$506,032$1,585,604
68$2,171,689$716,604$475,026$1,679,584
69$2,343,733$702,249$441,471$1,782,051
70$2,531,767$685,632$405,233$1,893,878
71$2,737,373$666,594$366,174$2,016,028
72$2,962,292$644,965$324,149$2,149,566
73$3,208,444$620,566$279,005$2,295,667
74$3,477,939$593,207$230,585$2,455,629
75$3,773,102$562,688$178,724$2,630,885
76$4,096,495$528,797$123,248$2,823,015
77$4,450,939$491,308$63,977$3,033,766
78$4,839,538$449,986$724$3,265,064
79$5,265,715$404,579$0$3,519,036
80$5,733,236$354,822$0$3,810,143
81$6,246,254$300,436$0$4,129,789
82$6,809,338$241,123$0$4,480,741
83$7,427,524$176,573$0$4,866,193
84$8,106,360$106,453$0$5,289,670
85$8,851,956$30,417$0$5,755,055
86$9,671,044$0$0$6,266,633
87$10,571,038$0$0$6,842,835
88$11,560,108$0$0$7,484,956
89$12,647,255$0$0$8,190,814
90$13,842,393$0$0$8,966,855
91$15,156,446$0$0$9,820,181
92$16,601,450$0$0$10,758,615
93$18,190,664$0$0$11,790,778
94$19,938,698$0$0$12,926,167
95$21,861,648$0$0$14,175,247
96$23,977,248$0$0$15,549,547
97$26,305,040$0$0$17,061,771
98$28,866,552$0$0$18,725,917
99$31,685,509$0$0$20,557,406
100$34,788,048$0$0$22,573,233