Can I retire at age 68 with 691,000?

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 $691,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.7%
1 years$57,062$56,554$56,058$55,574$55,101$54,255
2 years$28,249$27,722$27,213$26,718$26,239$25,389
3 years$18,645$18,117$17,608$17,119$16,647$15,819
4 years$13,845$13,318$12,814$12,333$11,873$11,073
5 years$10,965$10,441$9,944$9,473$9,025$8,257
6 years$9,046$8,526$8,037$7,576$7,142$6,405
7 years$7,676$7,160$6,678$6,228$5,808$5,103
8 years$6,648$6,138$5,664$5,225$4,818$4,145
9 years$5,850$5,344$4,878$4,450$4,058$3,416
10 years$5,211$4,710$4,253$3,836$3,457$2,847
11 years$4,689$4,193$3,744$3,339$2,973$2,394
12 years$4,255$3,764$3,323$2,928$2,577$2,026
13 years$3,887$3,401$2,969$2,585$2,247$1,726
14 years$3,572$3,092$2,668$2,295$1,970$1,476
15 years$3,300$2,824$2,408$2,047$1,734$1,268
16 years$3,061$2,591$2,184$1,833$1,533$1,093
17 years$2,851$2,386$1,987$1,647$1,359$944
18 years$2,665$2,205$1,814$1,484$1,208$818
19 years$2,498$2,044$1,660$1,341$1,077$710
20 years$2,348$1,899$1,524$1,214$962$617
21 years$2,213$1,769$1,402$1,102$861$538
22 years$2,090$1,651$1,292$1,002$772$469
23 years$1,978$1,544$1,193$913$693$409
24 years$1,876$1,447$1,103$832$623$358
25 years$1,782$1,358$1,022$760$560$313
26 years$1,695$1,276$948$695$505$274
27 years$1,614$1,201$880$636$455$240
28 years$1,540$1,132$818$583$411$210
29 years$1,471$1,068$761$535$371$184
30 years$1,407$1,008$709$491$335$161
31 years$1,346$953$661$451$303$142
32 years$1,290$902$617$414$274$124
33 years$1,237$854$576$381$248$109
34 years$1,188$810$538$350$224$96
35 years$1,141$768$503$323$203$84
36 years$1,097$729$471$297$184$74
37 years$1,056$692$440$274$167$65
38 years$1,017$658$412$252$151$57
39 years$980$626$386$233$137$50
40 years$945$595$362$215$124$44
41 years$911$567$340$198$113$39
42 years$880$540$319$183$102$34
43 years$850$514$299$169$93$30
44 years$821$490$281$156$84$26
45 years$794$467$264$144$77$23
46 years$768$446$247$133$70$20
47 years$743$425$233$123$63$18
48 years$719$406$218$113$57$16
49 years$696$388$205$105$52$14
50 years$675$370$193$97$47$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $691,000, adding $6,595 every year, while hoping to spend $57,169 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: 61/10/29 Blend
67$691,000$691,000$691,000$691,000
68$768,285$731,662$720,951$808,765
69$785,822$706,686$684,276$812,138
70$803,233$678,570$644,456$809,105
71$820,443$647,100$601,325$804,598
72$837,369$612,049$554,711$798,485
73$853,920$573,178$504,432$790,625
74$869,989$530,234$450,300$780,865
75$885,460$482,947$392,117$769,038
76$900,201$431,035$329,677$754,965
77$914,065$374,200$262,765$738,450
78$926,887$312,123$191,155$719,284
79$938,484$244,472$114,614$697,237
80$948,652$170,893$32,895$672,062
81$957,161$91,014$0$643,490
82$963,758$4,440$0$628,034
83$968,161$0$0$620,527
84$970,055$0$0$620,342
85$969,091$0$0$618,694
86$964,882$0$0$614,833
87$956,997$0$0$608,468
88$944,959$0$0$599,279
89$928,239$0$0$586,907
90$906,251$0$0$570,959
91$878,346$0$0$550,995
92$843,803$0$0$526,532
93$801,826$0$0$497,033
94$751,535$0$0$461,904
95$691,953$0$0$420,488
96$622,002$0$0$372,059
97$540,490$0$0$315,814
98$446,097$0$0$250,865
99$337,367$0$0$176,230
100$212,687$0$0$90,826