Can I retire at age 68 with 624,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $624,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$51,529$51,070$50,623$50,185$49,759$48,874
2 years$25,510$25,034$24,574$24,128$23,695$22,806
3 years$16,837$16,360$15,901$15,459$15,033$14,169
4 years$12,502$12,027$11,572$11,137$10,722$9,888
5 years$9,902$9,429$8,980$8,554$8,150$7,350
6 years$8,169$7,699$7,257$6,841$6,449$5,683
7 years$6,931$6,466$6,031$5,624$5,245$4,513
8 years$6,004$5,543$5,115$4,718$4,351$3,653
9 years$5,283$4,826$4,405$4,019$3,664$3,000
10 years$4,706$4,254$3,841$3,464$3,122$2,491
11 years$4,235$3,787$3,381$3,015$2,685$2,086
12 years$3,842$3,399$3,001$2,645$2,327$1,759
13 years$3,510$3,072$2,681$2,335$2,029$1,492
14 years$3,226$2,792$2,409$2,073$1,779$1,272
15 years$2,980$2,551$2,175$1,848$1,566$1,088
16 years$2,765$2,340$1,972$1,655$1,384$934
17 years$2,575$2,155$1,794$1,487$1,227$803
18 years$2,407$1,991$1,638$1,340$1,091$693
19 years$2,256$1,846$1,499$1,211$973$599
20 years$2,121$1,715$1,376$1,097$869$518
21 years$1,999$1,597$1,266$995$777$449
22 years$1,888$1,491$1,167$905$697$390
23 years$1,786$1,395$1,077$824$626$339
24 years$1,694$1,307$996$752$562$295
25 years$1,609$1,226$923$686$506$256
26 years$1,530$1,153$856$628$456$223
27 years$1,458$1,085$795$575$411$195
28 years$1,391$1,022$739$526$371$170
29 years$1,328$964$687$483$335$148
30 years$1,270$911$640$443$302$129
31 years$1,216$861$597$407$273$113
32 years$1,165$814$557$374$247$98
33 years$1,117$771$520$344$224$86
34 years$1,073$731$486$316$203$75
35 years$1,031$693$454$291$184$66
36 years$991$658$425$268$166$57
37 years$954$625$398$247$151$50
38 years$918$594$372$228$137$44
39 years$885$565$349$210$124$38
40 years$853$537$327$194$112$33
41 years$823$512$307$179$102$29
42 years$794$487$288$165$93$26
43 years$767$464$270$152$84$22
44 years$741$443$253$141$76$20
45 years$717$422$238$130$69$17
46 years$693$403$223$120$63$15
47 years$671$384$210$111$57$13
48 years$649$367$197$102$52$11
49 years$629$350$185$95$47$10
50 years$609$335$174$87$43$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $624,000, adding $5,053 every year, while hoping to spend $21,821 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: 40/34/26 Blend
67$624,000$624,000$624,000$624,000
68$692,860$659,788$650,116$715,081
69$740,315$668,900$648,678$740,743
70$791,878$677,728$646,460$766,073
71$847,946$686,233$643,413$793,053
72$908,956$694,378$639,486$821,847
73$975,385$702,118$634,625$852,636
74$1,047,763$709,410$628,773$885,624
75$1,126,668$716,205$621,871$921,031
76$1,212,742$722,453$613,857$959,105
77$1,306,686$728,097$604,666$1,000,119
78$1,409,275$733,081$594,229$1,044,376
79$1,521,362$737,343$582,476$1,092,209
80$1,643,884$740,815$569,332$1,143,989
81$1,777,874$743,430$554,719$1,200,126
82$1,924,471$745,111$538,556$1,261,073
83$2,084,926$745,781$520,756$1,327,329
84$2,260,618$745,354$501,231$1,399,450
85$2,453,066$743,741$479,888$1,478,048
86$2,663,943$740,849$456,628$1,563,800
87$2,895,090$736,575$431,350$1,657,455
88$3,148,536$730,814$403,947$1,759,841
89$3,426,515$723,452$374,308$1,871,871
90$3,731,488$714,370$342,316$1,994,558
91$4,066,166$703,440$307,849$2,129,016
92$4,433,534$690,527$270,781$2,276,482
93$4,836,880$675,490$230,978$2,438,317
94$5,279,829$658,175$188,303$2,616,028
95$5,766,370$638,425$142,610$2,811,278
96$6,300,901$616,068$93,748$3,025,905
97$6,888,264$590,927$41,560$3,261,935
98$7,533,795$562,811$0$3,521,611
99$8,243,373$531,519$0$3,811,327
100$9,023,473$496,840$0$4,142,451