Can I retire at age 68 with 424,000?

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 $424,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.7%
1 years$35,014$34,702$34,397$34,100$33,810$33,291
2 years$17,333$17,011$16,698$16,394$16,100$15,579
3 years$11,441$11,117$10,805$10,504$10,215$9,707
4 years$8,495$8,172$7,863$7,568$7,285$6,795
5 years$6,728$6,407$6,102$5,813$5,538$5,066
6 years$5,551$5,232$4,931$4,648$4,382$3,930
7 years$4,710$4,394$4,098$3,822$3,564$3,131
8 years$4,079$3,766$3,475$3,206$2,957$2,544
9 years$3,589$3,279$2,993$2,731$2,490$2,096
10 years$3,198$2,890$2,610$2,354$2,121$1,747
11 years$2,877$2,573$2,298$2,049$1,825$1,469
12 years$2,611$2,309$2,039$1,797$1,581$1,243
13 years$2,385$2,087$1,822$1,586$1,379$1,059
14 years$2,192$1,897$1,637$1,408$1,209$906
15 years$2,025$1,733$1,478$1,256$1,064$778
16 years$1,878$1,590$1,340$1,125$940$671
17 years$1,750$1,464$1,219$1,010$834$580
18 years$1,635$1,353$1,113$911$741$502
19 years$1,533$1,254$1,019$823$661$436
20 years$1,441$1,165$935$745$590$379
21 years$1,358$1,085$860$676$528$330
22 years$1,283$1,013$793$615$474$288
23 years$1,214$948$732$560$425$251
24 years$1,151$888$677$511$382$219
25 years$1,093$833$627$466$344$192
26 years$1,040$783$581$426$310$168
27 years$991$737$540$390$279$147
28 years$945$694$502$358$252$129
29 years$903$655$467$328$227$113
30 years$863$619$435$301$206$99
31 years$826$585$406$276$186$87
32 years$792$553$378$254$168$76
33 years$759$524$353$234$152$67
34 years$729$497$330$215$138$59
35 years$700$471$309$198$125$52
36 years$673$447$289$182$113$45
37 years$648$425$270$168$102$40
38 years$624$404$253$155$93$35
39 years$601$384$237$143$84$31
40 years$580$365$222$132$76$27
41 years$559$348$208$121$69$24
42 years$540$331$195$112$63$21
43 years$521$315$183$103$57$18
44 years$504$301$172$96$52$16
45 years$487$287$162$88$47$14
46 years$471$274$152$81$43$12
47 years$456$261$143$75$39$11
48 years$441$249$134$70$35$10
49 years$427$238$126$64$32$8
50 years$414$227$118$59$29$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $424,000, adding $5,247 every year, while hoping to spend $28,258 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: 72/18/10 Blend
67$424,000$424,000$424,000$424,000
68$472,660$450,188$443,616$505,417
69$490,805$442,181$428,411$519,768
70$509,854$432,835$411,750$531,476
71$529,869$422,053$393,553$543,524
72$550,918$409,736$373,739$555,937
73$573,074$395,776$352,222$568,746
74$596,418$380,059$328,911$581,983
75$621,037$362,466$303,714$595,685
76$647,026$342,871$276,533$609,895
77$674,490$321,138$247,263$624,658
78$703,541$297,127$215,800$640,026
79$734,303$270,688$182,030$656,059
80$766,911$241,661$145,838$672,821
81$801,514$209,880$107,101$690,386
82$838,272$175,167$65,692$708,835
83$877,361$137,336$21,479$728,259
84$918,976$96,190$0$748,760
85$963,328$51,519$0$773,194
86$1,010,647$3,104$0$801,570
87$1,061,189$0$0$831,751
88$1,115,231$0$0$873,673
89$1,173,077$0$0$919,218
90$1,235,063$0$0$968,037
91$1,301,556$0$0$1,020,419
92$1,372,956$0$0$1,076,684
93$1,449,707$0$0$1,137,182
94$1,532,292$0$0$1,202,297
95$1,621,245$0$0$1,272,451
96$1,717,150$0$0$1,348,107
97$1,820,648$0$0$1,429,775
98$1,932,447$0$0$1,518,015
99$2,053,321$0$0$1,613,440
100$2,184,123$0$0$1,716,728