Can I retire at age 68 with 696,000?

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 $696,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$57,475$56,963$56,464$55,976$55,500$55,150
2 years$28,453$27,923$27,410$26,912$26,429$26,076
3 years$18,780$18,248$17,736$17,243$16,767$16,422
4 years$13,945$13,414$12,907$12,422$11,959$11,624
5 years$11,044$10,517$10,016$9,541$9,091$8,768
6 years$9,111$8,588$8,095$7,630$7,193$6,882
7 years$7,731$7,212$6,727$6,273$5,850$5,551
8 years$6,696$6,182$5,705$5,263$4,853$4,566
9 years$5,892$5,383$4,914$4,483$4,087$3,812
10 years$5,249$4,745$4,284$3,864$3,482$3,220
11 years$4,723$4,224$3,771$3,363$2,995$2,744
12 years$4,285$3,791$3,347$2,950$2,595$2,356
13 years$3,915$3,426$2,990$2,604$2,263$2,035
14 years$3,598$3,114$2,687$2,312$1,984$1,766
15 years$3,324$2,845$2,426$2,062$1,747$1,540
16 years$3,084$2,610$2,199$1,846$1,544$1,347
17 years$2,872$2,404$2,001$1,659$1,369$1,183
18 years$2,684$2,221$1,827$1,495$1,217$1,041
19 years$2,516$2,059$1,673$1,351$1,085$918
20 years$2,365$1,913$1,535$1,223$969$811
21 years$2,229$1,782$1,412$1,110$867$718
22 years$2,105$1,663$1,301$1,009$777$636
23 years$1,993$1,556$1,201$919$698$565
24 years$1,889$1,458$1,111$838$627$502
25 years$1,794$1,368$1,029$766$564$447
26 years$1,707$1,286$954$700$508$398
27 years$1,626$1,210$886$641$458$354
28 years$1,551$1,140$824$587$414$316
29 years$1,482$1,075$767$538$373$282
30 years$1,417$1,016$714$494$337$252
31 years$1,356$960$666$454$305$225
32 years$1,300$908$621$417$276$201
33 years$1,246$860$580$384$250$180
34 years$1,197$815$542$353$226$161
35 years$1,150$773$507$325$205$144
36 years$1,105$734$474$299$186$129
37 years$1,064$697$444$276$168$115
38 years$1,024$663$415$254$152$103
39 years$987$630$389$234$138$92
40 years$952$599$365$216$125$83
41 years$918$571$342$199$114$74
42 years$886$543$321$184$103$66
43 years$856$518$301$170$94$59
44 years$827$494$283$157$85$53
45 years$799$471$265$145$77$48
46 years$773$449$249$134$70$43
47 years$748$428$234$124$64$38
48 years$724$409$220$114$58$34
49 years$701$391$207$106$52$31
50 years$680$373$194$98$48$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $696,000, adding $5,709 every year, while hoping to spend $27,309 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: 72/10/18 Blend
67$696,000$696,000$696,000$696,000
68$772,881$735,993$725,205$824,853
69$822,658$743,000$720,443$867,146
70$876,597$749,435$714,606$909,610
71$935,094$755,241$707,629$955,415
72$998,584$760,358$699,445$1,004,886
73$1,067,545$764,722$689,982$1,058,385
74$1,142,505$768,263$679,166$1,116,307
75$1,224,041$770,908$666,918$1,179,091
76$1,312,791$772,581$653,158$1,247,218
77$1,409,457$773,198$637,800$1,321,220
78$1,514,809$772,673$620,754$1,401,683
79$1,629,698$770,912$601,928$1,489,256
80$1,755,057$767,816$581,222$1,584,649
81$1,891,915$763,282$558,536$1,688,651
82$2,041,405$757,197$533,761$1,802,127
83$2,204,773$749,445$506,787$1,926,034
84$2,383,392$739,899$477,496$2,061,426
85$2,578,772$728,429$445,766$2,209,465
86$2,792,578$714,893$411,470$2,371,434
87$3,026,641$699,143$374,475$2,548,746
88$3,282,979$681,021$334,641$2,742,958
89$3,563,814$660,362$291,822$2,955,790
90$3,871,591$636,989$245,867$3,189,136
91$4,209,007$610,714$196,616$3,445,085
92$4,579,028$581,342$143,906$3,725,941
93$4,984,924$548,662$87,561$4,034,242
94$5,430,294$512,454$27,402$4,372,789
95$5,919,104$472,485$0$4,744,670
96$6,455,723$428,507$0$5,160,355
97$7,044,963$380,260$0$5,622,605
98$7,692,124$327,468$0$6,130,329
99$8,403,045$269,838$0$6,688,128
100$9,184,160$207,065$0$7,301,075