Can I retire at age 68 with 689,000?

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 $689,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$56,897$56,390$55,896$55,413$54,942$54,413
2 years$28,167$27,642$27,134$26,641$26,163$25,630
3 years$18,591$18,065$17,557$17,069$16,599$16,079
4 years$13,805$13,279$12,777$12,297$11,838$11,335
5 years$10,933$10,411$9,916$9,446$8,999$8,514
6 years$9,020$8,501$8,013$7,554$7,121$6,655
7 years$7,653$7,140$6,659$6,210$5,791$5,344
8 years$6,629$6,120$5,647$5,210$4,804$4,376
9 years$5,833$5,328$4,864$4,437$4,046$3,636
10 years$5,196$4,697$4,241$3,825$3,447$3,056
11 years$4,676$4,181$3,733$3,329$2,965$2,592
12 years$4,242$3,753$3,313$2,920$2,569$2,214
13 years$3,876$3,392$2,960$2,578$2,240$1,903
14 years$3,562$3,083$2,660$2,288$1,964$1,643
15 years$3,290$2,816$2,401$2,041$1,729$1,425
16 years$3,053$2,584$2,177$1,827$1,528$1,240
17 years$2,843$2,380$1,981$1,642$1,355$1,082
18 years$2,657$2,199$1,809$1,480$1,205$947
19 years$2,491$2,038$1,656$1,337$1,074$830
20 years$2,342$1,894$1,519$1,211$959$729
21 years$2,207$1,764$1,398$1,099$858$642
22 years$2,084$1,647$1,288$999$769$566
23 years$1,973$1,540$1,189$910$691$499
24 years$1,870$1,443$1,100$830$621$441
25 years$1,776$1,354$1,019$758$559$390
26 years$1,690$1,273$945$693$503$345
27 years$1,610$1,198$877$634$454$305
28 years$1,536$1,129$816$581$409$271
29 years$1,467$1,065$759$533$370$240
30 years$1,403$1,005$707$489$334$213
31 years$1,343$950$659$449$302$189
32 years$1,286$899$615$413$273$168
33 years$1,234$852$574$380$247$149
34 years$1,185$807$537$349$224$132
35 years$1,138$766$502$322$203$117
36 years$1,094$727$469$296$184$104
37 years$1,053$690$439$273$166$93
38 years$1,014$656$411$252$151$83
39 years$977$624$385$232$137$73
40 years$942$593$361$214$124$65
41 years$909$565$339$197$113$58
42 years$877$538$318$182$102$52
43 years$847$513$298$168$93$46
44 years$819$489$280$155$84$41
45 years$791$466$263$143$76$36
46 years$765$444$247$132$69$32
47 years$741$424$232$122$63$29
48 years$717$405$218$113$57$26
49 years$694$387$205$104$52$23
50 years$673$369$193$97$47$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $689,000, adding $2,190 every year, while hoping to spend $55,347 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: 61/23/16 Blend
67$689,000$689,000$689,000$689,000
68$761,537$725,020$714,340$804,791
69$780,325$701,657$679,382$810,825
70$799,174$675,295$641,398$811,000
71$818,033$645,727$600,227$809,887
72$836,841$612,737$555,704$807,364
73$855,532$576,094$507,653$803,302
74$874,030$535,556$455,893$797,563
75$892,248$490,865$400,232$789,993
76$910,090$441,750$340,473$780,432
77$927,447$387,924$276,407$768,700
78$944,197$329,082$207,817$754,609
79$960,204$264,906$134,477$737,951
80$975,313$195,055$56,151$718,502
81$989,355$119,172$0$696,021
82$1,002,137$36,880$0$674,930
83$1,013,447$0$0$660,796
84$1,023,047$0$0$656,976
85$1,030,673$0$0$661,134
86$1,036,029$0$0$663,736
87$1,038,789$0$0$664,561
88$1,038,589$0$0$663,364
89$1,035,024$0$0$659,872
90$1,027,647$0$0$653,782
91$1,015,958$0$0$644,759
92$999,408$0$0$632,430
93$977,384$0$0$616,384
94$949,209$0$0$596,165
95$914,132$0$0$571,265
96$871,323$0$0$541,126
97$819,861$0$0$505,127
98$758,729$0$0$462,585
99$686,803$0$0$412,739
100$602,836$0$0$354,754