Can I retire at age 53 with 723,000?

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 $723,000?

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$59,705$59,173$58,654$58,148$57,653$57,004
2 years$29,557$29,006$28,473$27,956$27,454$26,800
3 years$19,509$18,956$18,424$17,911$17,418$16,780
4 years$14,486$13,935$13,408$12,904$12,423$11,805
5 years$11,473$10,925$10,405$9,912$9,443$8,849
6 years$9,465$8,921$8,409$7,926$7,472$6,901
7 years$8,031$7,492$6,988$6,517$6,077$5,530
8 years$6,956$6,422$5,926$5,467$5,041$4,518
9 years$6,121$5,591$5,104$4,656$4,246$3,745
10 years$5,453$4,929$4,450$4,014$3,617$3,140
11 years$4,906$4,388$3,918$3,493$3,111$2,656
12 years$4,452$3,938$3,477$3,064$2,696$2,263
13 years$4,067$3,559$3,106$2,705$2,351$1,940
14 years$3,738$3,235$2,791$2,401$2,061$1,671
15 years$3,452$2,955$2,520$2,142$1,815$1,445
16 years$3,203$2,711$2,285$1,918$1,604$1,254
17 years$2,983$2,497$2,079$1,723$1,422$1,091
18 years$2,788$2,307$1,898$1,553$1,264$952
19 years$2,614$2,138$1,737$1,403$1,127$833
20 years$2,457$1,987$1,594$1,271$1,007$729
21 years$2,316$1,851$1,467$1,153$901$640
22 years$2,187$1,728$1,352$1,049$807$562
23 years$2,070$1,616$1,248$955$725$494
24 years$1,963$1,514$1,154$871$651$435
25 years$1,864$1,421$1,069$795$586$384
26 years$1,773$1,335$992$727$528$338
27 years$1,689$1,257$921$666$476$299
28 years$1,611$1,184$856$610$430$264
29 years$1,539$1,117$796$559$388$233
30 years$1,472$1,055$742$513$350$206
31 years$1,409$997$692$471$317$182
32 years$1,350$944$645$433$287$161
33 years$1,295$894$603$398$259$143
34 years$1,243$847$563$367$235$126
35 years$1,194$803$526$337$213$112
36 years$1,148$763$492$311$193$99
37 years$1,105$724$461$286$175$88
38 years$1,064$688$432$264$158$78
39 years$1,025$655$404$243$144$69
40 years$988$623$379$224$130$61
41 years$954$593$355$207$118$54
42 years$920$565$333$191$107$48
43 years$889$538$313$176$97$43
44 years$859$513$294$163$88$38
45 years$830$489$276$150$80$34
46 years$803$466$259$139$73$30
47 years$777$445$243$128$66$26
48 years$752$425$229$119$60$23
49 years$729$406$215$110$55$21
50 years$706$388$202$101$50$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $723,000, adding $6,619 every year, while hoping to spend $26,075 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: 64/22/14 Blend
52$723,000$723,000$723,000$723,000
53$803,573$765,254$754,048$851,902
54$857,794$775,008$751,565$894,826
55$916,672$784,366$748,125$938,083
56$980,653$793,281$743,668$984,694
57$1,050,231$801,703$738,132$1,034,983
58$1,125,947$809,579$731,452$1,089,312
59$1,208,396$816,851$723,558$1,148,078
60$1,298,235$823,459$714,379$1,211,719
61$1,396,184$829,338$703,841$1,280,718
62$1,503,039$834,419$691,863$1,355,607
63$1,619,672$838,629$678,364$1,436,975
64$1,747,047$841,890$663,258$1,525,471
65$1,886,223$844,119$646,453$1,621,808
66$2,038,365$845,229$627,857$1,726,775
67$2,204,758$845,124$607,370$1,841,242
68$2,386,815$843,707$584,888$1,966,169
69$2,586,092$840,871$560,304$2,102,613
70$2,804,304$836,505$533,505$2,251,741
71$3,043,339$830,489$504,373$2,414,840
72$3,305,274$822,698$472,785$2,593,328
73$3,592,400$812,998$438,611$2,788,772
74$3,907,237$801,247$401,716$3,002,898
75$4,252,562$787,295$361,961$3,237,608
76$4,631,434$770,983$319,197$3,495,002
77$5,047,223$752,143$273,272$3,777,396
78$5,503,638$730,597$224,025$4,087,343
79$6,004,768$706,155$171,289$4,427,657
80$6,555,115$678,618$114,889$4,801,444
81$7,159,641$647,774$54,641$5,212,126
82$7,823,809$613,399$0$5,663,480
83$8,553,639$575,258$0$6,161,108
84$9,355,765$533,100$0$6,716,965
85$10,237,491$486,660$0$7,327,969
86$11,206,867$435,658$0$7,999,735
87$12,272,762$379,800$0$8,738,447
88$13,444,947$318,773$0$9,550,926
89$14,734,185$252,247$0$10,444,687
90$16,152,339$179,874$0$11,428,015
91$17,712,474$101,285$0$12,510,040
92$19,428,991$16,092$0$13,700,828
93$21,317,752$0$0$15,011,472
94$23,396,238$0$0$16,472,628
95$25,683,708$0$0$18,085,044
96$28,201,382$0$0$19,859,791
97$30,972,645$0$0$21,813,359
98$34,023,260$0$0$23,963,920
99$37,381,617$0$0$26,331,494
100$41,078,998$0$0$28,938,142