Can I retire at age 68 with 688,000?

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 $688,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$56,814$56,308$55,815$55,333$54,862$54,221
2 years$28,126$27,602$27,094$26,602$26,125$25,480
3 years$18,564$18,038$17,532$17,044$16,575$15,946
4 years$13,785$13,260$12,759$12,279$11,821$11,213
5 years$10,917$10,396$9,901$9,432$8,986$8,400
6 years$9,007$8,489$8,002$7,543$7,111$6,548
7 years$7,642$7,129$6,649$6,201$5,783$5,243
8 years$6,619$6,111$5,639$5,202$4,797$4,281
9 years$5,824$5,321$4,857$4,431$4,040$3,547
10 years$5,189$4,690$4,235$3,820$3,442$2,972
11 years$4,669$4,175$3,728$3,324$2,961$2,513
12 years$4,236$3,747$3,309$2,916$2,566$2,140
13 years$3,870$3,387$2,956$2,574$2,237$1,833
14 years$3,557$3,078$2,656$2,285$1,961$1,578
15 years$3,285$2,812$2,398$2,038$1,727$1,363
16 years$3,048$2,580$2,174$1,825$1,526$1,182
17 years$2,839$2,376$1,978$1,639$1,353$1,028
18 years$2,653$2,196$1,806$1,477$1,203$897
19 years$2,487$2,035$1,653$1,335$1,072$783
20 years$2,338$1,891$1,517$1,209$958$686
21 years$2,204$1,761$1,396$1,097$857$601
22 years$2,081$1,644$1,286$998$768$528
23 years$1,970$1,538$1,188$909$690$464
24 years$1,868$1,441$1,098$829$620$408
25 years$1,774$1,352$1,017$757$558$359
26 years$1,687$1,271$944$692$502$317
27 years$1,607$1,196$876$633$453$279
28 years$1,533$1,127$814$580$409$247
29 years$1,465$1,063$758$532$369$218
30 years$1,400$1,004$706$488$334$192
31 years$1,341$949$658$449$302$170
32 years$1,285$898$614$412$273$150
33 years$1,232$850$573$379$247$133
34 years$1,183$806$536$349$223$118
35 years$1,136$765$501$321$202$104
36 years$1,093$726$469$296$183$92
37 years$1,051$689$439$272$166$81
38 years$1,012$655$411$251$151$72
39 years$976$623$385$232$137$64
40 years$941$593$361$214$124$57
41 years$907$564$338$197$112$50
42 years$876$537$317$182$102$44
43 years$846$512$298$168$93$39
44 years$817$488$279$155$84$35
45 years$790$465$262$143$76$31
46 years$764$444$246$132$69$27
47 years$740$424$232$122$63$24
48 years$716$404$218$113$57$21
49 years$693$386$204$104$52$19
50 years$672$369$192$96$47$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $688,000, adding $3,802 every year, while hoping to spend $28,868 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: 62/21/17 Blend
67$688,000$688,000$688,000$688,000
68$762,098$725,634$714,970$805,851
69$809,116$730,474$708,206$840,599
70$859,963$734,585$700,248$874,923
71$914,999$737,899$691,025$911,714
72$974,618$740,345$680,464$951,214
73$1,039,257$741,850$668,488$993,689
74$1,109,394$742,333$655,015$1,039,435
75$1,185,555$741,710$639,960$1,088,779
76$1,268,319$739,891$623,236$1,142,080
77$1,358,322$736,781$604,750$1,199,736
78$1,456,266$732,278$584,404$1,262,187
79$1,562,921$726,276$562,098$1,329,918
80$1,679,136$718,660$537,725$1,403,465
81$1,805,844$709,311$511,174$1,483,420
82$1,944,072$698,099$482,330$1,570,437
83$2,094,951$684,890$451,073$1,665,237
84$2,259,727$669,540$417,274$1,768,617
85$2,439,769$651,897$380,802$1,881,456
86$2,636,586$631,801$341,520$2,004,726
87$2,851,839$609,080$299,282$2,139,500
88$3,087,357$583,556$253,939$2,286,960
89$3,345,154$555,036$205,332$2,448,413
90$3,627,447$523,320$153,298$2,625,300
91$3,936,678$488,195$97,665$2,819,214
92$4,275,537$449,433$38,254$3,031,910
93$4,646,984$406,798$0$3,265,328
94$5,054,283$360,038$0$3,526,167
95$5,501,025$308,885$0$3,819,928
96$5,991,167$253,058$0$4,142,306
97$6,529,069$192,261$0$4,496,213
98$7,119,532$126,179$0$4,884,861
99$7,767,843$54,481$0$5,311,789
100$8,479,828$0$0$5,780,901