Can I retire at age 68 with 622,000?

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 $622,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$51,364$50,907$50,460$50,025$49,599$49,266
2 years$25,428$24,954$24,495$24,050$23,619$23,283
3 years$16,783$16,308$15,850$15,409$14,985$14,656
4 years$12,462$11,988$11,535$11,101$10,687$10,369
5 years$9,870$9,399$8,951$8,527$8,124$7,817
6 years$8,143$7,675$7,234$6,819$6,428$6,132
7 years$6,909$6,445$6,012$5,606$5,228$4,944
8 years$5,984$5,525$5,098$4,703$4,337$4,064
9 years$5,266$4,810$4,391$4,006$3,653$3,391
10 years$4,691$4,240$3,828$3,453$3,112$2,862
11 years$4,221$3,775$3,370$3,005$2,677$2,438
12 years$3,830$3,388$2,991$2,636$2,319$2,092
13 years$3,499$3,062$2,672$2,327$2,023$1,806
14 years$3,215$2,783$2,401$2,066$1,773$1,566
15 years$2,970$2,542$2,168$1,842$1,561$1,365
16 years$2,756$2,333$1,966$1,650$1,380$1,193
17 years$2,567$2,148$1,789$1,482$1,223$1,047
18 years$2,399$1,985$1,633$1,336$1,088$920
19 years$2,249$1,840$1,495$1,207$970$811
20 years$2,114$1,710$1,372$1,093$866$716
21 years$1,992$1,592$1,262$992$775$633
22 years$1,882$1,486$1,163$902$695$561
23 years$1,781$1,390$1,074$822$624$498
24 years$1,688$1,303$993$749$560$442
25 years$1,604$1,222$920$684$504$393
26 years$1,525$1,149$853$626$454$350
27 years$1,453$1,081$792$573$410$311
28 years$1,386$1,019$736$525$370$277
29 years$1,324$961$685$481$334$247
30 years$1,266$908$638$442$302$221
31 years$1,212$858$595$406$273$197
32 years$1,161$812$555$373$247$176
33 years$1,114$769$518$343$223$157
34 years$1,069$729$484$315$202$140
35 years$1,027$691$453$290$183$125
36 years$988$656$424$267$166$112
37 years$951$623$396$246$150$100
38 years$915$592$371$227$136$90
39 years$882$563$348$209$124$80
40 years$850$536$326$193$112$72
41 years$820$510$306$178$102$64
42 years$792$486$287$164$92$57
43 years$765$463$269$152$84$51
44 years$739$441$253$140$76$46
45 years$714$421$237$129$69$41
46 years$691$401$223$120$63$37
47 years$669$383$209$110$57$33
48 years$647$366$197$102$52$30
49 years$627$349$185$94$47$27
50 years$607$333$174$87$43$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $622,000, adding $5,990 every year, while hoping to spend $52,625 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: 64/13/23 Blend
67$622,000$622,000$622,000$622,000
68$691,623$658,657$649,016$731,393
69$706,176$634,938$614,765$735,214
70$720,449$608,294$577,603$732,954
71$734,359$578,525$537,377$729,287
72$747,812$545,420$493,927$724,081
73$760,700$508,758$447,086$717,191
74$772,907$468,302$396,678$708,459
75$784,299$423,804$342,523$697,716
76$794,729$375,002$284,428$684,776
77$804,031$321,616$222,196$669,437
78$812,021$263,355$155,619$651,481
79$818,495$199,907$84,480$630,669
80$823,224$130,945$8,552$606,743
81$825,954$56,123$0$579,419
82$826,404$0$0$566,178
83$824,260$0$0$555,859
84$819,175$0$0$551,470
85$810,762$0$0$544,710
86$798,595$0$0$535,274
87$782,198$0$0$522,829
88$761,046$0$0$507,003
89$734,557$0$0$487,384
90$702,087$0$0$463,517
91$662,922$0$0$434,897
92$616,272$0$0$400,968
93$561,265$0$0$361,111
94$496,935$0$0$314,646
95$422,212$0$0$260,817
96$335,918$0$0$198,791
97$236,747$0$0$127,647
98$123,257$0$0$46,366
99$0$0$0$0
100$0$0$0$0