Can I retire at age 68 with 601,000?

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 $601,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$49,630$49,188$48,757$48,336$47,925$46,804
2 years$24,569$24,112$23,668$23,238$22,821$21,699
3 years$16,217$15,757$15,315$14,889$14,479$13,389
4 years$12,041$11,583$11,145$10,727$10,326$9,278
5 years$9,537$9,081$8,649$8,239$7,850$6,846
6 years$7,868$7,416$6,990$6,589$6,211$5,253
7 years$6,676$6,228$5,809$5,417$5,052$4,139
8 years$5,782$5,338$4,926$4,544$4,191$3,323
9 years$5,088$4,648$4,243$3,871$3,529$2,706
10 years$4,533$4,097$3,699$3,337$3,007$2,228
11 years$4,078$3,647$3,257$2,904$2,586$1,849
12 years$3,700$3,274$2,890$2,547$2,241$1,546
13 years$3,381$2,958$2,582$2,249$1,954$1,299
14 years$3,107$2,689$2,320$1,996$1,713$1,096
15 years$2,870$2,456$2,095$1,780$1,508$929
16 years$2,663$2,254$1,899$1,594$1,333$789
17 years$2,480$2,076$1,728$1,432$1,182$672
18 years$2,318$1,918$1,578$1,291$1,051$574
19 years$2,173$1,778$1,444$1,166$937$491
20 years$2,043$1,652$1,325$1,056$837$420
21 years$1,925$1,539$1,219$959$749$361
22 years$1,818$1,436$1,124$872$671$310
23 years$1,721$1,343$1,037$794$602$266
24 years$1,631$1,259$959$724$542$229
25 years$1,549$1,181$889$661$487$197
26 years$1,474$1,110$824$605$439$170
27 years$1,404$1,045$765$553$396$146
28 years$1,339$984$711$507$357$126
29 years$1,279$929$662$465$322$109
30 years$1,223$877$617$427$291$94
31 years$1,171$829$575$392$263$81
32 years$1,122$784$536$360$238$70
33 years$1,076$743$501$331$216$60
34 years$1,033$704$468$305$195$52
35 years$993$668$438$281$177$45
36 years$955$634$409$258$160$39
37 years$918$602$383$238$145$33
38 years$884$572$359$219$132$29
39 years$852$544$336$202$119$25
40 years$822$518$315$187$108$22
41 years$793$493$295$172$98$19
42 years$765$469$277$159$89$16
43 years$739$447$260$147$81$14
44 years$714$426$244$135$73$12
45 years$690$406$229$125$67$10
46 years$668$388$215$116$61$9
47 years$646$370$202$107$55$8
48 years$625$353$190$99$50$7
49 years$606$337$179$91$45$6
50 years$587$322$168$84$41$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $601,000, adding $2,601 every year, while hoping to spend $49,972 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: 51/35/14 Blend
67$601,000$601,000$601,000$601,000
68$664,985$633,132$623,816$696,251
69$679,644$610,986$591,544$695,814
70$694,123$586,079$556,517$689,863
71$708,351$558,225$518,588$682,272
72$722,248$527,224$477,606$672,903
73$735,725$492,865$433,413$661,604
74$748,681$454,927$385,844$648,213
75$761,002$413,174$334,726$632,557
76$772,562$367,358$279,877$614,445
77$783,221$317,216$221,110$593,677
78$792,820$262,470$158,228$570,032
79$801,185$202,828$91,026$543,276
80$808,118$137,979$19,288$513,152
81$813,403$67,597$0$479,388
82$816,798$0$0$450,240
83$818,032$0$0$423,801
84$816,806$0$0$421,980
85$812,788$0$0$418,554
86$805,610$0$0$413,314
87$794,861$0$0$406,031
88$780,090$0$0$396,447
89$760,792$0$0$384,279
90$736,412$0$0$369,213
91$706,333$0$0$350,901
92$669,872$0$0$328,957
93$626,274$0$0$302,958
94$574,703$0$0$272,430
95$514,236$0$0$236,853
96$443,849$0$0$195,651
97$362,414$0$0$148,188
98$268,681$0$0$93,760
99$161,270$0$0$31,590
100$38,657$0$0$0