Can I retire at age 68 with 597,000?

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 $597,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$49,300$48,861$48,432$48,014$47,606$46,933
2 years$24,406$23,951$23,511$23,084$22,669$21,993
3 years$16,109$15,652$15,213$14,790$14,382$13,723
4 years$11,961$11,506$11,071$10,655$10,258$9,621
5 years$9,473$9,021$8,592$8,184$7,798$7,185
6 years$7,815$7,366$6,943$6,545$6,170$5,582
7 years$6,631$6,186$5,770$5,381$5,018$4,455
8 years$5,744$5,303$4,893$4,514$4,163$3,625
9 years$5,054$4,617$4,215$3,845$3,506$2,993
10 years$4,502$4,070$3,674$3,314$2,987$2,499
11 years$4,051$3,623$3,235$2,885$2,569$2,105
12 years$3,676$3,252$2,871$2,530$2,226$1,786
13 years$3,358$2,939$2,565$2,234$1,941$1,523
14 years$3,086$2,671$2,305$1,983$1,702$1,306
15 years$2,851$2,440$2,081$1,768$1,498$1,124
16 years$2,645$2,239$1,887$1,583$1,324$971
17 years$2,463$2,062$1,717$1,423$1,174$841
18 years$2,302$1,905$1,567$1,282$1,044$730
19 years$2,158$1,766$1,435$1,158$931$635
20 years$2,029$1,641$1,317$1,049$831$553
21 years$1,912$1,528$1,211$952$744$483
22 years$1,806$1,427$1,116$866$667$422
23 years$1,709$1,334$1,031$788$598$369
24 years$1,621$1,250$953$719$538$323
25 years$1,539$1,173$883$657$484$283
26 years$1,464$1,103$819$601$436$249
27 years$1,395$1,038$760$550$393$218
28 years$1,331$978$707$504$355$192
29 years$1,271$922$658$462$320$168
30 years$1,215$871$613$424$289$148
31 years$1,163$824$571$389$262$130
32 years$1,115$779$533$358$237$114
33 years$1,069$738$498$329$214$101
34 years$1,026$699$465$303$194$89
35 years$986$663$435$279$176$78
36 years$948$630$407$257$159$69
37 years$912$598$381$236$144$61
38 years$879$568$356$218$131$53
39 years$847$540$334$201$119$47
40 years$816$514$313$185$108$41
41 years$787$489$293$171$98$36
42 years$760$466$275$158$89$32
43 years$734$444$258$146$80$28
44 years$709$423$242$135$73$25
45 years$686$404$228$124$66$22
46 years$663$385$214$115$60$19
47 years$642$368$201$106$55$17
48 years$621$351$189$98$50$15
49 years$602$335$177$91$45$13
50 years$583$320$167$84$41$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $597,000, adding $3,664 every year, while hoping to spend $45,664 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: 29/42/29 Blend
67$597,000$597,000$597,000$597,000
68$661,673$630,032$620,779$674,868
69$680,578$612,318$592,989$667,911
70$699,880$592,205$562,737$656,243
71$719,573$569,528$529,894$642,796
72$739,646$544,111$494,322$627,449
73$760,086$515,769$455,878$610,073
74$780,879$484,306$414,414$590,532
75$802,005$449,513$369,774$568,682
76$823,443$411,173$321,794$544,372
77$845,166$369,052$270,306$517,438
78$867,144$322,906$215,132$487,712
79$889,339$272,476$156,086$455,011
80$911,712$217,487$92,975$419,143
81$934,214$157,651$25,597$379,907
82$956,791$92,663$0$337,086
83$979,380$22,200$0$304,782
84$1,001,911$0$0$277,809
85$1,024,302$0$0$273,047
86$1,046,464$0$0$278,419
87$1,068,294$0$0$283,631
88$1,089,675$0$0$288,644
89$1,110,478$0$0$293,415
90$1,130,558$0$0$297,896
91$1,149,750$0$0$302,032
92$1,167,872$0$0$305,763
93$1,184,719$0$0$309,022
94$1,200,062$0$0$311,733
95$1,213,647$0$0$313,814
96$1,225,191$0$0$315,170
97$1,234,375$0$0$315,700
98$1,240,850$0$0$315,287
99$1,244,223$0$0$313,805
100$1,244,059$0$0$311,112