Can I retire at age 53 with 788,000?

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 $788,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.3%
1 years$65,072$64,493$63,927$63,375$62,836$60,728
2 years$32,214$31,614$31,033$30,469$29,922$27,818
3 years$21,263$20,660$20,080$19,522$18,984$16,951
4 years$15,788$15,187$14,613$14,064$13,539$11,593
5 years$12,504$11,907$11,340$10,803$10,292$8,438
6 years$10,316$9,723$9,165$8,639$8,144$6,383
7 years$8,753$8,165$7,616$7,103$6,623$4,955
8 years$7,582$6,999$6,459$5,958$5,495$3,919
9 years$6,671$6,094$5,563$5,075$4,627$3,141
10 years$5,943$5,372$4,850$4,375$3,943$2,544
11 years$5,348$4,782$4,270$3,807$3,391$2,077
12 years$4,852$4,292$3,789$3,340$2,938$1,706
13 years$4,433$3,879$3,386$2,948$2,562$1,409
14 years$4,074$3,526$3,042$2,617$2,246$1,168
15 years$3,763$3,221$2,746$2,334$1,978$972
16 years$3,491$2,955$2,490$2,090$1,748$810
17 years$3,252$2,721$2,266$1,878$1,550$677
18 years$3,039$2,515$2,068$1,692$1,378$567
19 years$2,849$2,331$1,894$1,529$1,228$476
20 years$2,678$2,166$1,738$1,385$1,097$399
21 years$2,524$2,017$1,598$1,257$982$336
22 years$2,384$1,883$1,473$1,143$880$283
23 years$2,256$1,761$1,360$1,041$790$238
24 years$2,139$1,650$1,258$949$710$200
25 years$2,032$1,549$1,165$867$639$169
26 years$1,933$1,455$1,081$793$576$142
27 years$1,841$1,370$1,003$726$519$120
28 years$1,756$1,291$933$665$468$101
29 years$1,677$1,218$868$610$423$86
30 years$1,604$1,150$809$559$382$72
31 years$1,535$1,087$754$514$345$61
32 years$1,471$1,029$703$472$312$52
33 years$1,411$974$657$434$283$44
34 years$1,355$923$614$400$256$37
35 years$1,302$876$574$368$232$31
36 years$1,252$831$537$339$210$26
37 years$1,204$789$502$312$190$22
38 years$1,160$750$470$288$173$19
39 years$1,117$713$441$265$157$16
40 years$1,077$679$413$245$142$13
41 years$1,039$646$387$226$129$11
42 years$1,003$615$363$208$117$10
43 years$969$586$341$192$106$8
44 years$936$559$320$178$96$7
45 years$905$533$300$164$87$6
46 years$875$508$282$151$79$5
47 years$847$485$265$140$72$4
48 years$820$463$249$129$65$3
49 years$794$442$234$119$59$3
50 years$769$422$220$110$54$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $788,000, adding $6,758 every year, while hoping to spend $59,024 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: 54/27/19 Blend
52$788,000$788,000$788,000$788,000
53$875,347$833,583$821,369$917,765
54$901,831$811,627$786,084$925,588
55$929,039$786,618$747,638$927,293
56$956,981$758,342$705,864$927,862
57$985,668$726,576$660,586$927,202
58$1,015,110$691,083$611,620$925,217
59$1,045,316$651,610$558,774$921,802
60$1,076,293$607,894$501,847$916,848
61$1,108,047$559,653$440,631$910,238
62$1,140,582$506,589$374,906$901,847
63$1,173,899$448,391$304,444$891,544
64$1,208,001$384,725$229,006$879,186
65$1,242,882$315,243$148,344$864,627
66$1,278,540$239,573$62,196$847,705
67$1,314,964$157,325$0$828,253
68$1,352,143$68,087$0$812,120
69$1,390,060$0$0$806,934
70$1,428,695$0$0$808,420
71$1,468,021$0$0$830,506
72$1,508,007$0$0$852,944
73$1,548,615$0$0$875,709
74$1,589,798$0$0$898,772
75$1,631,503$0$0$922,101
76$1,673,668$0$0$945,656
77$1,716,220$0$0$969,393
78$1,759,076$0$0$993,261
79$1,802,138$0$0$1,017,200
80$1,845,297$0$0$1,041,144
81$1,888,428$0$0$1,065,016
82$1,931,388$0$0$1,088,730
83$1,974,015$0$0$1,112,188
84$2,016,128$0$0$1,135,279
85$2,057,520$0$0$1,157,879
86$2,097,960$0$0$1,179,849
87$2,137,188$0$0$1,201,032
88$2,174,912$0$0$1,221,252
89$2,210,805$0$0$1,240,312
90$2,244,503$0$0$1,257,993
91$2,275,595$0$0$1,274,049
92$2,303,627$0$0$1,288,207
93$2,328,090$0$0$1,300,161
94$2,348,417$0$0$1,309,572
95$2,363,977$0$0$1,316,062
96$2,374,069$0$0$1,319,211
97$2,377,913$0$0$1,318,552
98$2,374,643$0$0$1,313,566
99$2,363,295$0$0$1,303,678
100$2,342,803$0$0$1,288,249