Can I retire at age 68 with 590,000?

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 $590,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.4%
1 years$48,722$48,288$47,864$47,451$47,047$46,004
2 years$24,120$23,670$23,235$22,813$22,404$21,357
3 years$15,920$15,469$15,035$14,616$14,214$13,198
4 years$11,821$11,371$10,941$10,530$10,137$9,159
5 years$9,362$8,915$8,491$8,088$7,706$6,769
6 years$7,724$7,280$6,862$6,468$6,098$5,203
7 years$6,554$6,114$5,702$5,318$4,959$4,106
8 years$5,677$5,241$4,836$4,461$4,114$3,303
9 years$4,995$4,563$4,165$3,800$3,465$2,694
10 years$4,450$4,022$3,631$3,276$2,952$2,222
11 years$4,004$3,580$3,197$2,851$2,539$1,848
12 years$3,633$3,214$2,837$2,500$2,200$1,548
13 years$3,319$2,904$2,535$2,208$1,919$1,303
14 years$3,050$2,640$2,278$1,960$1,682$1,102
15 years$2,817$2,412$2,056$1,748$1,481$936
16 years$2,614$2,213$1,864$1,565$1,309$797
17 years$2,435$2,038$1,697$1,406$1,160$680
18 years$2,275$1,883$1,549$1,267$1,032$582
19 years$2,133$1,745$1,418$1,145$920$499
20 years$2,005$1,622$1,301$1,037$821$428
21 years$1,890$1,510$1,197$941$735$368
22 years$1,785$1,410$1,103$856$659$317
23 years$1,689$1,319$1,018$779$591$273
24 years$1,602$1,236$942$711$532$235
25 years$1,521$1,159$872$649$478$203
26 years$1,447$1,090$809$593$431$175
27 years$1,378$1,026$751$543$389$151
28 years$1,315$966$698$498$351$131
29 years$1,256$912$650$456$317$113
30 years$1,201$861$605$419$286$98
31 years$1,150$814$564$385$259$85
32 years$1,102$770$527$354$234$73
33 years$1,057$729$492$325$212$63
34 years$1,014$691$459$299$192$55
35 years$975$656$430$275$174$47
36 years$937$622$402$254$157$41
37 years$902$591$376$234$143$36
38 years$868$562$352$215$129$31
39 years$837$534$330$199$117$27
40 years$807$508$309$183$106$23
41 years$778$484$290$169$96$20
42 years$751$461$272$156$88$17
43 years$725$439$255$144$79$15
44 years$701$418$240$133$72$13
45 years$678$399$225$123$65$11
46 years$655$381$211$113$59$10
47 years$634$363$199$105$54$8
48 years$614$347$187$97$49$7
49 years$595$331$175$89$45$6
50 years$576$316$165$83$40$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $590,000, adding $2,924 every year, while hoping to spend $21,253 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: 40/35/25 Blend
67$590,000$590,000$590,000$590,000
68$653,196$621,926$612,781$674,396
69$697,209$629,787$610,696$697,845
70$744,999$637,322$607,829$720,983
71$796,929$644,490$604,131$745,599
72$853,398$651,252$599,552$771,840
73$914,844$657,564$594,037$799,870
74$981,752$663,379$587,531$829,871
75$1,054,653$668,646$579,976$862,042
76$1,134,132$673,314$571,309$896,608
77$1,220,833$677,325$561,467$933,814
78$1,315,464$680,620$550,382$973,934
79$1,418,805$683,135$537,984$1,017,269
80$1,531,717$684,802$524,200$1,064,156
81$1,655,143$685,549$508,952$1,114,963
82$1,790,125$685,298$492,160$1,170,101
83$1,937,810$683,970$473,739$1,230,024
84$2,099,459$681,476$453,601$1,295,233
85$2,276,461$677,727$431,655$1,366,284
86$2,470,348$672,623$407,803$1,443,790
87$2,682,805$666,063$381,945$1,528,432
88$2,915,688$657,936$353,977$1,620,959
89$3,171,040$648,127$323,787$1,722,202
90$3,451,114$636,513$291,262$1,833,078
91$3,758,389$622,964$256,281$1,954,603
92$4,095,596$607,341$218,718$2,087,896
93$4,465,746$589,499$178,444$2,234,198
94$4,872,151$569,284$135,321$2,394,877
95$5,318,463$546,531$89,206$2,571,445
96$5,808,703$521,068$39,952$2,765,574
97$6,347,302$492,712$0$2,979,109
98$6,939,141$461,269$0$3,217,453
99$7,589,596$426,534$0$3,491,084
100$8,304,592$388,291$0$3,791,867