Can I retire at age 68 with 650,000?

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 $650,000?

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$53,676$53,198$52,732$52,276$51,832$51,484
2 years$26,572$26,078$25,598$25,133$24,682$24,331
3 years$17,539$17,042$16,564$16,103$15,659$15,316
4 years$13,023$12,528$12,054$11,601$11,168$10,836
5 years$10,314$9,822$9,354$8,911$8,490$8,169
6 years$8,509$8,020$7,560$7,126$6,718$6,409
7 years$7,220$6,735$6,282$5,859$5,463$5,166
8 years$6,254$5,773$5,328$4,915$4,532$4,247
9 years$5,503$5,027$4,589$4,186$3,817$3,544
10 years$4,902$4,431$4,001$3,609$3,252$2,991
11 years$4,411$3,945$3,522$3,141$2,797$2,547
12 years$4,002$3,540$3,126$2,755$2,424$2,186
13 years$3,656$3,200$2,793$2,432$2,114$1,887
14 years$3,360$2,908$2,509$2,159$1,853$1,637
15 years$3,104$2,657$2,266$1,925$1,631$1,426
16 years$2,880$2,438$2,054$1,724$1,442$1,247
17 years$2,682$2,245$1,869$1,549$1,278$1,094
18 years$2,507$2,074$1,706$1,396$1,137$962
19 years$2,350$1,923$1,562$1,261$1,013$847
20 years$2,209$1,786$1,433$1,142$905$748
21 years$2,082$1,664$1,319$1,037$810$662
22 years$1,966$1,553$1,215$943$726$586
23 years$1,861$1,453$1,122$858$652$520
24 years$1,764$1,361$1,038$783$586$462
25 years$1,676$1,277$961$715$527$411
26 years$1,594$1,201$891$654$475$365
27 years$1,519$1,130$828$598$428$325
28 years$1,449$1,065$769$548$386$290
29 years$1,384$1,004$716$503$349$258
30 years$1,323$949$667$461$315$230
31 years$1,267$897$622$424$285$206
32 years$1,214$848$580$390$258$184
33 years$1,164$803$542$358$233$164
34 years$1,117$762$506$330$211$147
35 years$1,074$722$473$303$191$131
36 years$1,032$686$443$279$173$117
37 years$993$651$414$257$157$105
38 years$957$619$388$237$142$94
39 years$922$588$364$219$129$84
40 years$889$560$341$202$117$75
41 years$857$533$319$186$106$67
42 years$828$508$300$172$96$60
43 years$799$484$281$159$87$54
44 years$772$461$264$146$79$48
45 years$747$440$248$135$72$43
46 years$722$419$233$125$65$39
47 years$699$400$219$115$59$35
48 years$676$382$206$107$54$31
49 years$655$365$193$99$49$28
50 years$635$348$182$91$45$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $650,000, adding $5,461 every year, while hoping to spend $58,524 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: 35/48/17 Blend
67$650,000$650,000$650,000$650,000
68$721,933$687,483$677,408$743,263
69$733,301$658,901$637,832$730,710
70$743,867$626,956$594,969$711,297
71$753,488$591,423$548,647$689,109
72$762,003$552,062$498,685$663,932
73$769,234$508,620$444,898$635,536
74$774,981$460,828$387,088$603,676
75$779,025$408,404$325,051$568,088
76$781,118$351,048$258,573$528,489
77$780,988$288,445$187,430$484,576
78$778,330$220,261$111,391$436,023
79$772,809$146,143$30,212$382,478
80$764,050$65,718$0$323,567
81$751,638$0$0$269,120
82$735,114$0$0$226,287
83$713,970$0$0$216,328
84$687,641$0$0$204,313
85$655,502$0$0$189,998
86$616,864$0$0$173,116
87$570,962$0$0$153,370
88$516,950$0$0$130,432
89$453,892$0$0$103,939
90$380,756$0$0$73,489
91$296,397$0$0$38,641
92$199,553$0$0$0
93$88,828$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0