Can I retire at age 68 with 693,000?

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 $693,000?

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$57,227$56,718$56,220$55,735$55,261$54,890
2 years$28,330$27,803$27,291$26,796$26,315$25,940
3 years$18,699$18,169$17,659$17,168$16,695$16,329
4 years$13,885$13,356$12,851$12,369$11,907$11,552
5 years$10,997$10,472$9,973$9,500$9,052$8,709
6 years$9,072$8,551$8,060$7,598$7,162$6,832
7 years$7,698$7,181$6,698$6,246$5,825$5,508
8 years$6,668$6,155$5,680$5,240$4,832$4,528
9 years$5,867$5,359$4,892$4,463$4,069$3,778
10 years$5,226$4,724$4,265$3,847$3,467$3,189
11 years$4,703$4,206$3,755$3,348$2,982$2,716
12 years$4,267$3,775$3,333$2,937$2,584$2,330
13 years$3,898$3,411$2,977$2,593$2,253$2,012
14 years$3,583$3,101$2,675$2,302$1,975$1,745
15 years$3,309$2,833$2,415$2,053$1,739$1,521
16 years$3,070$2,599$2,190$1,838$1,537$1,329
17 years$2,860$2,393$1,993$1,651$1,363$1,166
18 years$2,673$2,212$1,819$1,488$1,212$1,025
19 years$2,506$2,050$1,665$1,345$1,080$904
20 years$2,355$1,905$1,528$1,218$965$798
21 years$2,220$1,774$1,406$1,105$863$706
22 years$2,096$1,656$1,296$1,005$774$625
23 years$1,984$1,549$1,196$915$695$555
24 years$1,881$1,451$1,106$835$624$492
25 years$1,787$1,362$1,025$762$562$438
26 years$1,700$1,280$950$697$506$389
27 years$1,619$1,205$882$638$456$347
28 years$1,545$1,135$820$585$412$309
29 years$1,475$1,071$763$536$372$275
30 years$1,411$1,011$711$492$336$246
31 years$1,350$956$663$452$304$219
32 years$1,294$905$619$415$275$196
33 years$1,241$857$578$382$249$175
34 years$1,191$812$540$351$225$156
35 years$1,145$770$505$323$204$140
36 years$1,101$731$472$298$185$125
37 years$1,059$694$442$274$167$112
38 years$1,020$660$414$253$152$100
39 years$983$627$388$233$138$89
40 years$947$597$363$215$125$80
41 years$914$568$341$198$113$72
42 years$882$541$320$183$103$64
43 years$852$516$300$169$93$57
44 years$823$491$281$156$85$51
45 years$796$469$264$144$77$46
46 years$770$447$248$133$70$41
47 years$745$427$233$123$63$37
48 years$721$407$219$114$58$33
49 years$698$389$206$105$52$30
50 years$677$372$194$97$47$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $693,000, adding $6,062 every year, while hoping to spend $59,087 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: 49/39/12 Blend
67$693,000$693,000$693,000$693,000
68$769,939$733,210$722,468$804,859
69$785,605$706,269$683,803$802,554
70$800,888$676,028$641,862$793,378
71$815,687$642,262$596,473$782,076
72$829,889$604,735$547,457$768,467
73$843,366$563,195$494,625$752,356
74$855,976$517,378$437,781$733,535
75$867,559$467,003$376,721$711,778
76$877,939$411,775$311,229$686,840
77$886,916$351,380$241,084$658,460
78$894,272$285,487$166,050$626,354
79$899,760$213,748$85,884$590,218
80$903,107$135,794$333$549,720
81$904,010$51,233$0$504,506
82$902,131$0$0$465,838
83$897,098$0$0$439,770
84$888,494$0$0$433,717
85$875,859$0$0$425,444
86$858,682$0$0$414,673
87$836,398$0$0$401,096
88$808,381$0$0$384,375
89$773,935$0$0$364,133
90$732,294$0$0$339,954
91$682,607$0$0$311,377
92$623,935$0$0$277,892
93$555,236$0$0$238,937
94$475,361$0$0$193,888
95$383,039$0$0$142,058
96$276,864$0$0$82,686
97$155,284$0$0$14,930
98$16,584$0$0$0
99$0$0$0$0
100$0$0$0$0