Can I retire at age 68 with 649,000?

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 $649,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.8%
1 years$53,594$53,116$52,651$52,196$51,752$50,116
2 years$26,532$26,037$25,559$25,094$24,644$23,010
3 years$17,512$17,016$16,538$16,078$15,635$14,055
4 years$13,003$12,508$12,035$11,583$11,151$9,637
5 years$10,299$9,807$9,340$8,897$8,477$7,033
6 years$8,496$8,008$7,548$7,115$6,707$5,335
7 years$7,209$6,725$6,273$5,850$5,455$4,153
8 years$6,244$5,765$5,320$4,907$4,525$3,294
9 years$5,494$5,019$4,582$4,180$3,811$2,648
10 years$4,895$4,424$3,994$3,603$3,247$2,152
11 years$4,404$3,939$3,517$3,136$2,793$1,762
12 years$3,996$3,535$3,121$2,750$2,420$1,453
13 years$3,651$3,195$2,788$2,428$2,110$1,204
14 years$3,355$2,904$2,505$2,156$1,850$1,001
15 years$3,099$2,653$2,262$1,922$1,629$836
16 years$2,875$2,434$2,051$1,721$1,440$700
17 years$2,678$2,241$1,866$1,547$1,276$587
18 years$2,503$2,071$1,704$1,394$1,135$493
19 years$2,346$1,920$1,560$1,259$1,012$415
20 years$2,206$1,784$1,431$1,141$904$350
21 years$2,079$1,661$1,317$1,035$809$295
22 years$1,963$1,551$1,213$941$725$250
23 years$1,858$1,451$1,120$857$651$211
24 years$1,762$1,359$1,036$782$585$178
25 years$1,673$1,275$960$714$526$151
26 years$1,592$1,199$890$653$474$128
27 years$1,516$1,128$826$598$427$108
28 years$1,446$1,063$768$547$386$92
29 years$1,382$1,003$715$502$348$78
30 years$1,321$947$666$461$315$66
31 years$1,265$895$621$423$284$56
32 years$1,212$847$579$389$257$47
33 years$1,162$802$541$358$233$40
34 years$1,116$760$505$329$211$34
35 years$1,072$721$472$303$191$29
36 years$1,031$685$442$279$173$25
37 years$992$650$414$257$157$21
38 years$955$618$387$237$142$18
39 years$920$588$363$218$129$15
40 years$887$559$340$201$117$13
41 years$856$532$319$186$106$11
42 years$826$507$299$172$96$9
43 years$798$483$281$158$87$8
44 years$771$460$264$146$79$7
45 years$745$439$247$135$72$6
46 years$721$419$232$125$65$5
47 years$698$400$218$115$59$4
48 years$675$381$205$106$54$3
49 years$654$364$193$98$49$3
50 years$634$348$181$91$44$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $649,000, adding $6,222 every year, while hoping to spend $46,192 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: 40/38/22 Blend
67$649,000$649,000$649,000$649,000
68$721,616$687,219$677,159$745,565
69$746,073$671,745$650,696$747,871
70$771,476$653,964$621,799$745,514
71$797,874$633,715$590,336$742,032
72$825,317$610,827$556,172$737,347
73$853,860$585,118$519,164$731,380
74$883,561$556,397$479,164$724,046
75$914,485$524,461$436,016$715,256
76$946,697$489,095$389,558$704,920
77$980,272$450,072$339,620$692,938
78$1,015,288$407,153$286,025$679,211
79$1,051,828$360,085$228,588$663,633
80$1,089,985$308,599$167,116$646,093
81$1,129,856$252,413$101,407$626,477
82$1,171,547$191,227$31,250$604,663
83$1,215,174$124,727$0$580,527
84$1,260,861$52,578$0$564,179
85$1,308,743$0$0$553,737
86$1,358,966$0$0$552,468
87$1,411,689$0$0$574,242
88$1,467,084$0$0$597,147
89$1,525,338$0$0$621,265
90$1,586,656$0$0$646,684
91$1,651,259$0$0$673,500
92$1,719,388$0$0$701,819
93$1,791,307$0$0$731,754
94$1,867,302$0$0$763,430
95$1,947,688$0$0$796,985
96$2,032,805$0$0$832,565
97$2,123,028$0$0$870,335
98$2,218,764$0$0$910,473
99$2,320,460$0$0$953,172
100$2,428,603$0$0$998,646