Can I retire at age 68 with 593,000?

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 $593,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.6%
1 years$48,969$48,533$48,108$47,692$47,287$45,828
2 years$24,242$23,791$23,353$22,929$22,517$21,061
3 years$16,001$15,548$15,111$14,691$14,286$12,877
4 years$11,881$11,429$10,997$10,584$10,189$8,838
5 years$9,410$8,961$8,534$8,129$7,745$6,456
6 years$7,763$7,317$6,897$6,501$6,129$4,903
7 years$6,587$6,145$5,731$5,345$4,984$3,821
8 years$5,705$5,267$4,861$4,484$4,135$3,034
9 years$5,020$4,586$4,186$3,819$3,482$2,443
10 years$4,472$4,042$3,650$3,292$2,967$1,987
11 years$4,024$3,599$3,213$2,865$2,552$1,630
12 years$3,651$3,230$2,852$2,513$2,211$1,345
13 years$3,336$2,919$2,548$2,219$1,928$1,116
14 years$3,066$2,653$2,289$1,970$1,690$930
15 years$2,832$2,424$2,067$1,756$1,488$777
16 years$2,627$2,224$1,874$1,573$1,315$651
17 years$2,447$2,048$1,705$1,413$1,166$547
18 years$2,287$1,892$1,557$1,273$1,037$461
19 years$2,144$1,754$1,425$1,151$924$388
20 years$2,015$1,630$1,308$1,042$826$328
21 years$1,899$1,518$1,203$946$739$277
22 years$1,794$1,417$1,109$860$662$234
23 years$1,698$1,325$1,024$783$594$199
24 years$1,610$1,242$947$714$534$168
25 years$1,529$1,165$877$652$481$143
26 years$1,454$1,095$813$596$433$121
27 years$1,385$1,031$755$546$390$103
28 years$1,322$971$702$500$352$87
29 years$1,262$916$653$459$318$74
30 years$1,207$865$609$421$287$63
31 years$1,155$818$567$387$260$53
32 years$1,107$774$529$355$235$45
33 years$1,062$733$494$327$213$38
34 years$1,019$695$462$301$193$33
35 years$979$659$432$277$174$28
36 years$942$625$404$255$158$24
37 years$906$594$378$235$143$20
38 years$873$565$354$216$130$17
39 years$841$537$332$200$118$15
40 years$811$511$311$184$107$12
41 years$782$486$291$170$97$10
42 years$755$463$273$157$88$9
43 years$729$441$257$145$80$8
44 years$705$421$241$134$72$6
45 years$681$401$226$123$66$5
46 years$659$383$212$114$60$5
47 years$637$365$200$105$54$4
48 years$617$348$188$97$49$3
49 years$598$333$176$90$45$3
50 years$579$318$166$83$41$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $593,000, adding $3,394 every year, while hoping to spend $41,458 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: 33/49/18 Blend
67$593,000$593,000$593,000$593,000
68$656,987$625,558$616,366$674,903
69$679,889$612,099$592,904$674,981
70$703,737$596,592$567,265$671,002
71$728,584$578,891$539,335$665,835
72$754,488$558,844$508,991$659,400
73$781,508$536,291$476,105$651,613
74$809,712$511,059$440,544$642,385
75$839,170$482,968$402,170$631,623
76$869,959$451,827$360,836$619,230
77$902,161$417,433$316,391$605,104
78$935,868$379,574$268,676$589,139
79$971,176$338,023$217,527$571,223
80$1,008,191$292,541$162,769$551,240
81$1,047,027$242,875$104,222$529,067
82$1,087,808$188,761$41,697$504,579
83$1,130,669$129,915$0$477,644
84$1,175,758$66,041$0$452,929
85$1,223,232$0$0$434,345
86$1,273,267$0$0$415,479
87$1,326,051$0$0$433,177
88$1,381,791$0$0$451,902
89$1,440,711$0$0$471,735
90$1,503,058$0$0$492,764
91$1,569,099$0$0$515,084
92$1,639,127$0$0$538,802
93$1,713,462$0$0$564,030
94$1,792,455$0$0$590,895
95$1,876,487$0$0$619,535
96$1,965,979$0$0$650,099
97$2,061,389$0$0$682,753
98$2,163,220$0$0$717,677
99$2,272,021$0$0$755,071
100$2,388,397$0$0$795,150