Can I retire at age 68 with 338,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $338,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14%
1 years$27,912$27,663$27,421$27,184$26,953$26,506
2 years$13,818$13,560$13,311$13,069$12,835$12,386
3 years$9,120$8,862$8,613$8,374$8,143$7,706
4 years$6,772$6,514$6,268$6,033$5,807$5,386
5 years$5,363$5,107$4,864$4,634$4,415$4,010
6 years$4,425$4,171$3,931$3,706$3,493$3,105
7 years$3,754$3,502$3,267$3,047$2,841$2,470
8 years$3,252$3,002$2,770$2,556$2,357$2,003
9 years$2,861$2,614$2,386$2,177$1,985$1,648
10 years$2,549$2,304$2,080$1,876$1,691$1,371
11 years$2,294$2,051$1,831$1,633$1,454$1,150
12 years$2,081$1,841$1,625$1,432$1,260$972
13 years$1,901$1,664$1,452$1,265$1,099$826
14 years$1,747$1,512$1,305$1,123$963$705
15 years$1,614$1,382$1,178$1,001$848$605
16 years$1,497$1,268$1,068$896$750$520
17 years$1,395$1,167$972$805$665$448
18 years$1,304$1,079$887$726$591$388
19 years$1,222$1,000$812$656$527$336
20 years$1,149$929$745$594$471$291
21 years$1,083$865$686$539$421$253
22 years$1,022$808$632$490$377$220
23 years$968$755$583$446$339$192
24 years$917$708$540$407$305$167
25 years$871$664$500$372$274$146
26 years$829$624$464$340$247$127
27 years$790$588$430$311$223$111
28 years$753$554$400$285$201$97
29 years$720$522$372$261$181$85
30 years$688$493$347$240$164$74
31 years$659$466$323$220$148$65
32 years$631$441$302$203$134$57
33 years$605$418$282$186$121$50
34 years$581$396$263$171$110$44
35 years$558$376$246$158$99$38
36 years$537$356$230$145$90$33
37 years$517$339$215$134$82$29
38 years$497$322$202$123$74$26
39 years$479$306$189$114$67$23
40 years$462$291$177$105$61$20
41 years$446$277$166$97$55$17
42 years$430$264$156$89$50$15
43 years$416$251$146$82$45$13
44 years$402$240$137$76$41$12
45 years$388$229$129$70$37$10
46 years$376$218$121$65$34$9
47 years$363$208$114$60$31$8
48 years$352$199$107$55$28$7
49 years$341$190$100$51$25$6
50 years$330$181$94$47$23$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $338,000, adding $2,947 every year, while hoping to spend $22,599 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: 76/16/8 Blend
67$338,000$338,000$338,000$338,000
68$375,516$357,602$352,363$403,388
69$389,773$351,079$340,122$415,606
70$404,728$343,479$326,713$425,813
71$420,426$334,726$312,074$436,350
72$436,920$324,738$296,139$447,241
73$454,264$313,429$278,839$458,512
74$472,521$300,709$260,101$470,194
75$491,755$286,480$239,852$482,318
76$512,039$270,643$218,011$494,923
77$533,450$253,088$194,498$508,048
78$556,075$233,702$169,227$521,739
79$580,006$212,365$142,108$536,046
80$605,346$188,950$113,047$551,027
81$632,205$163,321$81,948$566,743
82$660,704$135,339$48,707$583,263
83$690,977$104,851$13,220$600,666
84$723,168$71,701$0$619,037
85$757,437$35,720$0$640,575
86$793,957$0$0$664,624
87$832,919$0$0$690,758
88$874,531$0$0$725,394
89$919,022$0$0$762,435
90$966,643$0$0$802,090
91$1,017,669$0$0$844,589
92$1,072,401$0$0$890,184
93$1,131,170$0$0$939,153
94$1,194,338$0$0$991,799
95$1,262,306$0$0$1,048,456
96$1,335,509$0$0$1,109,490
97$1,414,429$0$0$1,175,303
98$1,499,595$0$0$1,246,337
99$1,591,585$0$0$1,323,078
100$1,691,038$0$0$1,406,060