Can I retire at age 53 with 742,000?

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 $742,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$61,274$60,728$60,195$59,676$59,168$58,380
2 years$30,333$29,769$29,221$28,690$28,175$27,383
3 years$20,021$19,454$18,908$18,382$17,876$17,103
4 years$14,866$14,301$13,760$13,243$12,749$12,003
5 years$11,774$11,212$10,678$10,172$9,692$8,973
6 years$9,713$9,155$8,630$8,135$7,669$6,979
7 years$8,242$7,689$7,171$6,688$6,237$5,576
8 years$7,139$6,591$6,082$5,610$5,174$4,543
9 years$6,281$5,738$5,238$4,779$4,357$3,755
10 years$5,596$5,058$4,567$4,119$3,713$3,139
11 years$5,035$4,503$4,021$3,585$3,193$2,647
12 years$4,569$4,042$3,568$3,145$2,767$2,248
13 years$4,174$3,652$3,188$2,776$2,413$1,921
14 years$3,836$3,320$2,864$2,464$2,115$1,649
15 years$3,543$3,033$2,586$2,198$1,862$1,421
16 years$3,287$2,783$2,345$1,968$1,646$1,229
17 years$3,062$2,563$2,134$1,768$1,459$1,066
18 years$2,862$2,368$1,948$1,593$1,298$927
19 years$2,683$2,195$1,783$1,440$1,157$807
20 years$2,522$2,039$1,636$1,304$1,033$705
21 years$2,376$1,900$1,505$1,184$924$616
22 years$2,245$1,773$1,387$1,076$829$539
23 years$2,124$1,658$1,281$980$744$472
24 years$2,014$1,554$1,185$894$669$414
25 years$1,913$1,458$1,097$816$602$364
26 years$1,820$1,370$1,018$746$542$320
27 years$1,734$1,290$945$683$489$281
28 years$1,654$1,215$878$626$441$247
29 years$1,580$1,147$817$574$398$217
30 years$1,510$1,083$761$527$360$191
31 years$1,446$1,024$710$484$325$169
32 years$1,385$969$662$445$294$149
33 years$1,329$917$618$409$266$131
34 years$1,276$869$578$376$241$115
35 years$1,226$825$540$346$218$102
36 years$1,178$783$505$319$198$90
37 years$1,134$743$473$294$179$79
38 years$1,092$706$443$271$163$70
39 years$1,052$672$415$250$147$62
40 years$1,014$639$389$230$134$54
41 years$979$608$365$213$121$48
42 years$945$579$342$196$110$42
43 years$912$552$321$181$100$37
44 years$882$526$301$167$91$33
45 years$852$502$283$154$82$29
46 years$824$479$266$143$75$26
47 years$798$457$250$132$68$23
48 years$772$436$235$122$62$20
49 years$748$416$221$113$56$18
50 years$724$398$207$104$51$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $742,000, adding $4,279 every year, while hoping to spend $53,803 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: 46/26/28 Blend
52$742,000$742,000$742,000$742,000
53$822,098$782,772$771,271$853,117
54$848,706$763,882$739,862$856,621
55$876,225$742,263$705,599$854,883
56$904,690$717,724$668,327$851,963
57$934,141$690,065$627,888$847,779
58$964,616$659,071$584,115$842,244
59$996,158$624,517$536,835$835,268
60$1,028,812$586,164$485,864$826,756
61$1,062,625$543,760$431,015$816,609
62$1,097,646$497,038$372,087$804,721
63$1,133,928$445,715$308,874$790,982
64$1,171,528$389,493$241,160$775,277
65$1,210,503$328,058$168,718$757,485
66$1,250,917$261,076$91,313$737,479
67$1,292,838$188,195$8,699$715,126
68$1,336,335$109,045$0$690,286
69$1,381,486$23,233$0$686,554
70$1,428,370$0$0$684,354
71$1,477,075$0$0$700,936
72$1,527,693$0$0$725,088
73$1,580,322$0$0$750,213
74$1,635,069$0$0$776,363
75$1,692,047$0$0$803,593
76$1,751,378$0$0$831,963
77$1,813,193$0$0$861,539
78$1,877,633$0$0$892,391
79$1,944,850$0$0$924,593
80$2,015,008$0$0$958,227
81$2,088,283$0$0$993,380
82$2,164,867$0$0$1,030,147
83$2,244,964$0$0$1,068,631
84$2,328,799$0$0$1,108,943
85$2,416,612$0$0$1,151,203
86$2,508,666$0$0$1,195,542
87$2,605,245$0$0$1,242,101
88$2,706,657$0$0$1,291,034
89$2,813,237$0$0$1,342,509
90$2,925,348$0$0$1,396,708
91$3,043,388$0$0$1,453,829
92$3,167,787$0$0$1,514,088
93$3,299,014$0$0$1,577,721
94$3,437,582$0$0$1,644,983
95$3,584,050$0$0$1,716,156
96$3,739,025$0$0$1,791,545
97$3,903,175$0$0$1,871,485
98$4,077,225$0$0$1,956,341
99$4,261,970$0$0$2,046,511
100$4,458,278$0$0$2,142,434