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%13.3%
1 years$49,300$48,861$48,432$48,014$47,606$46,952
2 years$24,406$23,951$23,511$23,084$22,669$22,012
3 years$16,109$15,652$15,213$14,790$14,382$13,742
4 years$11,961$11,506$11,071$10,655$10,258$9,639
5 years$9,473$9,021$8,592$8,184$7,798$7,202
6 years$7,815$7,366$6,943$6,545$6,170$5,599
7 years$6,631$6,186$5,770$5,381$5,018$4,471
8 years$5,744$5,303$4,893$4,514$4,163$3,640
9 years$5,054$4,617$4,215$3,845$3,506$3,007
10 years$4,502$4,070$3,674$3,314$2,987$2,512
11 years$4,051$3,623$3,235$2,885$2,569$2,117
12 years$3,676$3,252$2,871$2,530$2,226$1,797
13 years$3,358$2,939$2,565$2,234$1,941$1,534
14 years$3,086$2,671$2,305$1,983$1,702$1,316
15 years$2,851$2,440$2,081$1,768$1,498$1,134
16 years$2,645$2,239$1,887$1,583$1,324$980
17 years$2,463$2,062$1,717$1,423$1,174$849
18 years$2,302$1,905$1,567$1,282$1,044$738
19 years$2,158$1,766$1,435$1,158$931$642
20 years$2,029$1,641$1,317$1,049$831$560
21 years$1,912$1,528$1,211$952$744$489
22 years$1,806$1,427$1,116$866$667$428
23 years$1,709$1,334$1,031$788$598$375
24 years$1,621$1,250$953$719$538$328
25 years$1,539$1,173$883$657$484$288
26 years$1,464$1,103$819$601$436$253
27 years$1,395$1,038$760$550$393$222
28 years$1,331$978$707$504$355$195
29 years$1,271$922$658$462$320$172
30 years$1,215$871$613$424$289$151
31 years$1,163$824$571$389$262$133
32 years$1,115$779$533$358$237$117
33 years$1,069$738$498$329$214$103
34 years$1,026$699$465$303$194$91
35 years$986$663$435$279$176$80
36 years$948$630$407$257$159$70
37 years$912$598$381$236$144$62
38 years$879$568$356$218$131$55
39 years$847$540$334$201$119$48
40 years$816$514$313$185$108$43
41 years$787$489$293$171$98$38
42 years$760$466$275$158$89$33
43 years$734$444$258$146$80$29
44 years$709$423$242$135$73$26
45 years$686$404$228$124$66$23
46 years$663$385$214$115$60$20
47 years$642$368$201$106$55$18
48 years$621$351$189$98$50$16
49 years$602$335$177$91$45$14
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 $2,677 every year, while hoping to spend $32,655 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: 56/23/21 Blend
67$597,000$597,000$597,000$597,000
68$660,655$629,014$619,761$693,767
69$693,298$625,091$605,778$712,759
70$728,175$619,882$590,233$729,734
71$765,480$613,288$573,037$747,519
72$805,427$605,206$554,102$766,199
73$848,247$595,528$533,330$785,871
74$894,195$584,136$510,624$806,644
75$943,552$570,908$485,879$828,637
76$996,626$555,713$458,987$851,987
77$1,053,753$538,414$429,834$876,843
78$1,115,304$518,865$398,302$903,373
79$1,181,686$496,911$364,267$931,764
80$1,253,347$472,389$327,599$962,226
81$1,330,779$445,126$288,163$994,989
82$1,414,520$414,939$245,818$1,030,314
83$1,505,165$381,634$200,417$1,068,487
84$1,603,366$345,009$151,806$1,109,829
85$1,709,841$304,846$99,823$1,154,696
86$1,825,378$260,917$44,301$1,203,484
87$1,950,847$212,982$0$1,256,631
88$2,087,200$160,785$0$1,317,976
89$2,235,488$104,057$0$1,395,522
90$2,396,867$42,515$0$1,479,975
91$2,572,607$0$0$1,572,048
92$2,764,108$0$0$1,678,638
93$2,972,908$0$0$1,806,637
94$3,200,701$0$0$1,946,331
95$3,449,353$0$0$2,098,869
96$3,720,916$0$0$2,265,518
97$4,017,651$0$0$2,447,670
98$4,342,043$0$0$2,646,861
99$4,696,834$0$0$2,864,779
100$5,085,038$0$0$3,103,285