Can I retire at age 68 with 591,000?

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 $591,000?

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$48,804$48,370$47,945$47,531$47,127$46,616
2 years$24,161$23,711$23,274$22,852$22,442$21,926
3 years$15,947$15,495$15,060$14,641$14,238$13,735
4 years$11,841$11,391$10,960$10,548$10,155$9,668
5 years$9,378$8,930$8,505$8,102$7,719$7,251
6 years$7,737$7,292$6,874$6,479$6,108$5,658
7 years$6,565$6,124$5,712$5,327$4,967$4,536
8 years$5,686$5,249$4,844$4,469$4,121$3,708
9 years$5,003$4,571$4,172$3,806$3,470$3,076
10 years$4,457$4,029$3,638$3,281$2,957$2,580
11 years$4,011$3,587$3,202$2,856$2,543$2,184
12 years$3,639$3,219$2,842$2,505$2,204$1,862
13 years$3,324$2,909$2,539$2,211$1,922$1,597
14 years$3,055$2,644$2,281$1,963$1,685$1,377
15 years$2,822$2,416$2,060$1,751$1,483$1,191
16 years$2,618$2,216$1,868$1,567$1,311$1,035
17 years$2,439$2,041$1,699$1,408$1,162$901
18 years$2,279$1,886$1,551$1,269$1,034$787
19 years$2,137$1,748$1,420$1,147$921$688
20 years$2,009$1,624$1,303$1,039$823$603
21 years$1,893$1,513$1,199$943$736$530
22 years$1,788$1,412$1,105$857$660$466
23 years$1,692$1,321$1,020$781$592$410
24 years$1,604$1,238$944$712$533$361
25 years$1,524$1,161$874$650$479$319
26 years$1,449$1,092$810$594$432$281
27 years$1,381$1,027$753$544$389$249
28 years$1,317$968$700$499$351$220
29 years$1,258$913$651$457$317$194
30 years$1,203$862$606$420$286$172
31 years$1,152$815$565$385$259$152
32 years$1,103$771$528$354$234$135
33 years$1,058$731$493$326$212$119
34 years$1,016$692$460$300$192$106
35 years$976$657$430$276$174$94
36 years$939$623$402$254$158$83
37 years$903$592$377$234$143$74
38 years$870$563$353$216$129$65
39 years$838$535$331$199$117$58
40 years$808$509$310$183$106$51
41 years$779$485$290$169$97$46
42 years$752$461$272$156$88$40
43 years$727$440$256$144$80$36
44 years$702$419$240$133$72$32
45 years$679$400$225$123$66$28
46 years$657$381$212$114$60$25
47 years$635$364$199$105$54$22
48 years$615$347$187$97$49$20
49 years$596$332$176$90$45$18
50 years$577$317$165$83$40$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $591,000, adding $4,870 every year, while hoping to spend $48,224 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: 51/27/22 Blend
67$591,000$591,000$591,000$591,000
68$656,305$624,982$615,822$685,525
69$671,939$604,297$585,142$685,568
70$687,550$580,981$551,818$680,278
71$703,087$554,856$515,711$673,522
72$718,489$525,730$476,674$665,178
73$733,687$493,404$434,555$655,117
74$748,607$457,664$389,196$643,199
75$763,161$418,286$340,430$629,275
76$777,252$375,031$288,084$613,182
77$790,773$327,648$231,976$594,750
78$803,601$275,873$171,916$573,790
79$815,601$219,423$107,708$550,102
80$826,622$158,004$39,145$523,471
81$836,493$91,302$0$493,663
82$845,025$18,986$0$468,415
83$852,010$0$0$449,796
84$857,211$0$0$445,985
85$860,370$0$0$446,633
86$861,196$0$0$445,935
87$859,367$0$0$443,708
88$854,528$0$0$439,751
89$846,282$0$0$433,840
90$834,189$0$0$425,728
91$817,762$0$0$415,138
92$796,463$0$0$401,766
93$769,692$0$0$385,276
94$736,788$0$0$365,293
95$697,019$0$0$341,405
96$649,573$0$0$313,154
97$593,554$0$0$280,035
98$527,969$0$0$241,488
99$451,722$0$0$196,895
100$363,599$0$0$145,574