Can I retire at age 68 with 497,000?

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 $497,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$41,042$40,676$40,320$39,971$39,631$38,831
2 years$20,318$19,939$19,573$19,217$18,872$18,069
3 years$13,411$13,031$12,665$12,313$11,973$11,193
4 years$9,958$9,579$9,217$8,870$8,539$7,788
5 years$7,887$7,510$7,153$6,813$6,492$5,771
6 years$6,506$6,132$5,780$5,449$5,137$4,447
7 years$5,521$5,150$4,803$4,480$4,177$3,520
8 years$4,782$4,415$4,074$3,758$3,466$2,839
9 years$4,207$3,844$3,509$3,201$2,918$2,323
10 years$3,748$3,388$3,059$2,759$2,487$1,922
11 years$3,373$3,016$2,693$2,401$2,139$1,604
12 years$3,060$2,707$2,390$2,106$1,853$1,347
13 years$2,796$2,446$2,135$1,860$1,616$1,138
14 years$2,569$2,224$1,919$1,651$1,417$966
15 years$2,373$2,031$1,732$1,472$1,247$823
16 years$2,202$1,864$1,571$1,318$1,102$703
17 years$2,051$1,716$1,429$1,184$977$602
18 years$1,917$1,586$1,305$1,067$869$517
19 years$1,797$1,470$1,194$964$775$445
20 years$1,689$1,366$1,096$873$692$384
21 years$1,592$1,272$1,008$793$619$331
22 years$1,503$1,188$929$721$555$286
23 years$1,423$1,111$858$656$498$247
24 years$1,349$1,041$793$599$448$214
25 years$1,281$977$735$547$403$185
26 years$1,219$918$682$500$363$161
27 years$1,161$864$633$458$327$139
28 years$1,108$814$588$419$295$121
29 years$1,058$768$548$384$267$105
30 years$1,012$725$510$353$241$91
31 years$968$686$475$324$218$79
32 years$928$649$444$298$197$69
33 years$890$614$414$274$178$60
34 years$854$582$387$252$161$52
35 years$821$552$362$232$146$45
36 years$789$524$338$214$132$39
37 years$760$498$317$197$120$34
38 years$731$473$297$181$109$30
39 years$705$450$278$167$99$26
40 years$679$428$261$154$90$22
41 years$656$407$244$142$81$20
42 years$633$388$229$131$74$17
43 years$611$370$215$121$67$15
44 years$591$352$202$112$61$13
45 years$571$336$190$103$55$11
46 years$552$321$178$96$50$10
47 years$534$306$167$88$45$8
48 years$517$292$157$82$41$7
49 years$501$279$148$75$37$6
50 years$485$266$139$70$34$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $497,000, adding $6,240 every year, while hoping to spend $39,084 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: 64/31/5 Blend
67$497,000$497,000$497,000$497,000
68$554,131$527,790$520,086$588,796
69$569,067$512,066$495,924$596,913
70$584,217$494,262$469,642$600,558
71$599,561$474,235$441,129$603,504
72$615,076$451,833$410,267$605,682
73$630,736$426,895$376,933$607,013
74$646,510$399,252$341,000$607,414
75$662,364$368,725$302,333$606,796
76$678,257$335,125$260,793$605,061
77$694,144$298,250$216,234$602,106
78$709,972$257,890$168,504$597,816
79$725,683$213,821$117,443$592,069
80$741,211$165,806$62,885$584,734
81$756,479$113,595$4,656$575,667
82$771,405$56,926$0$564,713
83$785,892$0$0$554,773
84$799,835$0$0$544,592
85$813,115$0$0$553,343
86$825,597$0$0$561,512
87$837,133$0$0$568,994
88$847,557$0$0$575,671
89$856,682$0$0$581,411
90$864,302$0$0$586,068
91$870,188$0$0$589,478
92$874,081$0$0$591,461
93$875,699$0$0$591,814
94$874,725$0$0$590,314
95$870,806$0$0$586,712
96$863,554$0$0$580,733
97$852,536$0$0$572,070
98$837,273$0$0$560,385
99$817,232$0$0$545,302
100$791,826$0$0$526,405