Can I retire at age 68 with 562,000?

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 $562,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$46,409$45,996$45,593$45,199$44,815$44,328
2 years$22,975$22,547$22,132$21,730$21,340$20,851
3 years$15,164$14,735$14,321$13,923$13,539$13,061
4 years$11,260$10,832$10,422$10,031$9,656$9,194
5 years$8,918$8,492$8,088$7,704$7,341$6,895
6 years$7,357$6,934$6,536$6,161$5,808$5,380
7 years$6,243$5,824$5,432$5,066$4,724$4,313
8 years$5,407$4,992$4,607$4,249$3,919$3,526
9 years$4,758$4,346$3,968$3,620$3,300$2,925
10 years$4,238$3,831$3,459$3,120$2,812$2,454
11 years$3,814$3,411$3,045$2,715$2,418$2,077
12 years$3,460$3,061$2,703$2,382$2,096$1,771
13 years$3,161$2,766$2,415$2,103$1,827$1,519
14 years$2,905$2,515$2,170$1,867$1,602$1,309
15 years$2,684$2,297$1,959$1,665$1,410$1,133
16 years$2,490$2,108$1,776$1,491$1,247$984
17 years$2,319$1,941$1,616$1,339$1,105$857
18 years$2,167$1,794$1,475$1,207$983$748
19 years$2,032$1,662$1,350$1,091$876$655
20 years$1,910$1,545$1,239$988$782$574
21 years$1,800$1,439$1,140$896$700$504
22 years$1,700$1,343$1,051$815$628$443
23 years$1,609$1,256$970$742$563$390
24 years$1,526$1,177$897$677$506$344
25 years$1,449$1,104$831$618$456$303
26 years$1,378$1,038$771$565$410$268
27 years$1,313$977$716$517$370$236
28 years$1,253$921$665$474$334$209
29 years$1,196$868$619$435$302$185
30 years$1,144$820$577$399$272$163
31 years$1,095$775$538$366$246$145
32 years$1,049$734$502$337$223$128
33 years$1,006$695$468$310$202$114
34 years$966$658$438$285$183$101
35 years$928$625$409$262$165$89
36 years$893$593$383$242$150$79
37 years$859$563$358$223$136$70
38 years$827$535$335$205$123$62
39 years$797$509$314$189$112$55
40 years$768$484$295$174$101$49
41 years$741$461$276$161$92$43
42 years$716$439$259$149$83$38
43 years$691$418$243$137$76$34
44 years$668$399$228$127$69$30
45 years$646$380$214$117$62$27
46 years$624$363$201$108$57$24
47 years$604$346$189$100$51$21
48 years$585$330$178$92$47$19
49 years$566$315$167$85$42$17
50 years$549$301$157$79$39$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $562,000, adding $6,717 every year, while hoping to spend $38,944 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: 61/21/18 Blend
67$562,000$562,000$562,000$562,000
68$626,253$596,467$587,756$661,171
69$648,694$584,257$566,009$673,320
70$672,120$570,145$542,229$681,637
71$696,588$553,994$516,306$689,811
72$722,164$535,663$488,126$697,832
73$748,915$515,002$457,569$705,692
74$776,918$491,850$424,511$713,382
75$806,253$466,040$388,822$720,896
76$837,008$437,393$350,364$728,228
77$869,278$405,721$308,997$735,376
78$903,167$370,823$264,571$742,336
79$938,787$332,491$216,931$749,109
80$976,260$290,500$165,915$755,699
81$1,015,720$244,616$111,354$762,111
82$1,057,311$194,590$53,072$768,355
83$1,101,191$140,159$0$774,446
84$1,147,532$81,046$0$782,155
85$1,196,521$16,958$0$800,745
86$1,248,363$0$0$820,082
87$1,303,282$0$0$852,356
88$1,361,521$0$0$890,758
89$1,423,347$0$0$931,548
90$1,489,054$0$0$974,921
91$1,558,958$0$0$1,021,092
92$1,633,411$0$0$1,070,294
93$1,712,793$0$0$1,122,783
94$1,797,526$0$0$1,178,842
95$1,888,067$0$0$1,238,776
96$1,984,920$0$0$1,302,924
97$2,088,636$0$0$1,371,656
98$2,199,821$0$0$1,445,377
99$2,319,138$0$0$1,524,533
100$2,447,316$0$0$1,609,612