Can I retire at age 68 with 583,000?

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 $583,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.7%
1 years$48,144$47,715$47,296$46,888$46,489$45,966
2 years$23,833$23,390$22,959$22,542$22,138$21,610
3 years$15,731$15,285$14,856$14,443$14,045$13,531
4 years$11,681$11,236$10,812$10,405$10,017$9,519
5 years$9,251$8,809$8,390$7,992$7,615$7,136
6 years$7,632$7,194$6,781$6,392$6,025$5,565
7 years$6,476$6,041$5,635$5,255$4,900$4,459
8 years$5,609$5,178$4,779$4,408$4,065$3,643
9 years$4,935$4,509$4,116$3,755$3,423$3,020
10 years$4,397$3,974$3,588$3,237$2,917$2,532
11 years$3,956$3,538$3,159$2,817$2,509$2,142
12 years$3,590$3,176$2,804$2,471$2,174$1,825
13 years$3,279$2,870$2,505$2,181$1,896$1,564
14 years$3,014$2,609$2,251$1,936$1,662$1,347
15 years$2,784$2,383$2,032$1,727$1,463$1,165
16 years$2,583$2,186$1,842$1,546$1,293$1,011
17 years$2,406$2,013$1,676$1,389$1,147$880
18 years$2,248$1,861$1,530$1,252$1,020$768
19 years$2,108$1,724$1,401$1,131$909$671
20 years$1,981$1,602$1,286$1,025$812$588
21 years$1,867$1,493$1,183$930$726$516
22 years$1,764$1,393$1,090$845$651$453
23 years$1,669$1,303$1,006$770$584$399
24 years$1,583$1,221$931$702$525$351
25 years$1,503$1,146$862$641$473$309
26 years$1,430$1,077$800$586$426$273
27 years$1,362$1,013$742$537$384$241
28 years$1,299$955$690$492$346$213
29 years$1,241$901$642$451$313$188
30 years$1,187$851$598$414$283$166
31 years$1,136$804$558$380$256$147
32 years$1,089$761$520$349$231$130
33 years$1,044$721$486$321$209$115
34 years$1,002$683$454$296$189$102
35 years$963$648$424$272$172$90
36 years$926$615$397$251$155$80
37 years$891$584$372$231$141$71
38 years$858$555$348$213$128$63
39 years$827$528$326$196$116$56
40 years$797$502$306$181$105$49
41 years$769$478$287$167$95$44
42 years$742$455$269$154$86$39
43 years$717$434$252$142$78$34
44 years$693$413$237$131$71$30
45 years$670$394$222$121$65$27
46 years$648$376$209$112$59$24
47 years$627$359$196$104$53$21
48 years$607$343$184$96$48$19
49 years$588$327$173$88$44$17
50 years$569$313$163$82$40$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $583,000, adding $5,665 every year, while hoping to spend $39,722 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: 51/32/17 Blend
67$583,000$583,000$583,000$583,000
68$648,309$617,410$608,374$678,075
69$672,173$605,400$586,491$687,141
70$697,140$591,469$562,543$692,386
71$723,279$575,483$536,420$697,222
72$750,669$557,296$508,005$701,622
73$779,391$536,758$477,177$705,561
74$809,536$513,706$443,809$709,013
75$841,200$487,969$407,769$711,952
76$874,491$459,368$368,917$714,353
77$909,524$427,712$327,110$716,192
78$946,423$392,798$282,197$717,445
79$985,327$354,413$234,019$718,089
80$1,026,383$312,332$182,411$718,103
81$1,069,754$266,317$127,202$717,470
82$1,115,618$216,115$68,212$716,172
83$1,164,167$161,461$5,254$714,196
84$1,215,614$102,073$0$711,532
85$1,270,187$37,656$0$719,410
86$1,328,141$0$0$728,340
87$1,389,750$0$0$748,718
88$1,455,317$0$0$784,549
89$1,525,172$0$0$822,757
90$1,599,676$0$0$863,546
91$1,679,226$0$0$907,136
92$1,764,257$0$0$953,772
93$1,855,244$0$0$1,003,718
94$1,952,709$0$0$1,057,268
95$2,057,224$0$0$1,114,742
96$2,169,418$0$0$1,176,491
97$2,289,981$0$0$1,242,903
98$2,419,668$0$0$1,314,400
99$2,559,311$0$0$1,391,448
100$2,709,822$0$0$1,474,560