Can I retire at age 53 with 713,000?

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 $713,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.7%
1 years$58,879$58,354$57,843$57,343$56,856$56,215
2 years$29,148$28,605$28,079$27,569$27,074$26,429
3 years$19,239$18,694$18,169$17,664$17,177$16,548
4 years$14,285$13,742$13,222$12,726$12,251$11,642
5 years$11,314$10,774$10,261$9,775$9,313$8,727
6 years$9,334$8,798$8,292$7,817$7,369$6,806
7 years$7,920$7,388$6,891$6,427$5,993$5,453
8 years$6,860$6,333$5,844$5,391$4,972$4,455
9 years$6,036$5,514$5,034$4,592$4,187$3,693
10 years$5,377$4,860$4,388$3,958$3,567$3,097
11 years$4,839$4,327$3,863$3,445$3,068$2,620
12 years$4,390$3,884$3,429$3,022$2,659$2,232
13 years$4,011$3,510$3,063$2,668$2,318$1,913
14 years$3,686$3,190$2,752$2,368$2,032$1,648
15 years$3,405$2,914$2,485$2,112$1,789$1,425
16 years$3,159$2,674$2,253$1,891$1,582$1,237
17 years$2,942$2,462$2,050$1,699$1,402$1,076
18 years$2,750$2,275$1,872$1,531$1,247$939
19 years$2,578$2,109$1,713$1,384$1,111$821
20 years$2,423$1,960$1,572$1,253$993$719
21 years$2,284$1,825$1,446$1,137$888$631
22 years$2,157$1,704$1,333$1,034$796$554
23 years$2,041$1,594$1,231$942$715$488
24 years$1,935$1,493$1,138$859$642$429
25 years$1,838$1,401$1,054$784$578$378
26 years$1,749$1,317$978$717$521$334
27 years$1,666$1,239$908$656$469$295
28 years$1,589$1,168$844$601$424$260
29 years$1,518$1,102$785$552$383$230
30 years$1,451$1,040$732$506$346$203
31 years$1,389$984$682$465$312$180
32 years$1,331$931$636$427$283$159
33 years$1,277$881$594$393$256$141
34 years$1,226$835$555$361$232$125
35 years$1,178$792$519$333$210$110
36 years$1,132$752$486$306$190$98
37 years$1,090$714$454$282$172$87
38 years$1,049$679$426$260$156$77
39 years$1,011$645$399$240$142$68
40 years$975$614$374$221$128$60
41 years$940$585$350$204$117$53
42 years$908$557$329$188$106$47
43 years$877$530$308$174$96$42
44 years$847$506$290$161$87$37
45 years$819$482$272$148$79$33
46 years$792$460$255$137$72$29
47 years$766$439$240$127$65$26
48 years$742$419$225$117$59$23
49 years$719$400$212$108$54$20
50 years$696$382$199$100$49$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $713,000, adding $3,444 every year, while hoping to spend $42,965 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: 51/19/30 Blend
52$713,000$713,000$713,000$713,000
53$789,278$751,489$740,438$822,689
54$824,070$742,598$719,528$837,504
55$860,971$731,831$696,478$849,053
56$900,150$719,051$671,170$860,785
57$941,794$704,112$643,482$872,737
58$986,104$686,862$613,287$884,952
59$1,033,305$667,135$580,449$897,483
60$1,083,638$644,761$544,830$910,388
61$1,137,370$619,555$506,283$923,736
62$1,194,794$591,326$464,656$937,604
63$1,256,230$559,867$419,789$952,083
64$1,322,028$524,964$371,515$967,274
65$1,392,574$486,387$319,660$983,297
66$1,468,291$443,893$264,042$1,000,282
67$1,549,641$397,229$204,473$1,018,381
68$1,637,134$346,123$140,752$1,037,765
69$1,731,329$290,289$72,674$1,058,627
70$1,832,838$229,427$22$1,081,185
71$1,942,336$163,218$0$1,105,684
72$2,060,562$91,324$0$1,157,211
73$2,188,332$13,391$0$1,212,887
74$2,326,538$0$0$1,273,131
75$2,476,164$0$0$1,353,251
76$2,638,289$0$0$1,443,159
77$2,814,102$0$0$1,540,722
78$3,004,910$0$0$1,646,672
79$3,212,148$0$0$1,761,817
80$3,437,398$0$0$1,887,042
81$3,682,399$0$0$2,023,325
82$3,949,062$0$0$2,171,738
83$4,239,494$0$0$2,333,463
84$4,556,010$0$0$2,509,801
85$4,901,159$0$0$2,702,183
86$5,277,747$0$0$2,912,184
87$5,688,863$0$0$3,141,537
88$6,137,905$0$0$3,392,152
89$6,628,615$0$0$3,666,131
90$7,165,115$0$0$3,965,787
91$7,751,939$0$0$4,293,668
92$8,394,083$0$0$4,652,579
93$9,097,046$0$0$5,045,609
94$9,866,884$0$0$5,476,159
95$10,710,267$0$0$5,947,977
96$11,634,540$0$0$6,465,187
97$12,647,790$0$0$7,032,334
98$13,758,928$0$0$7,654,422
99$14,977,766$0$0$8,336,965
100$16,315,111$0$0$9,086,033