Can I retire at age 68 with 698,000?

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 $698,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.5%
1 years$57,640$57,127$56,626$56,137$55,660$54,402
2 years$28,535$28,003$27,488$26,989$26,505$25,245
3 years$18,834$18,300$17,787$17,292$16,816$15,592
4 years$13,985$13,453$12,944$12,458$11,993$10,816
5 years$11,076$10,547$10,045$9,569$9,117$7,989
6 years$9,137$8,613$8,118$7,652$7,214$6,137
7 years$7,753$7,233$6,746$6,291$5,867$4,841
8 years$6,716$6,200$5,721$5,278$4,867$3,891
9 years$5,909$5,398$4,928$4,495$4,099$3,173
10 years$5,264$4,758$4,296$3,875$3,492$2,615
11 years$4,737$4,236$3,782$3,373$3,004$2,173
12 years$4,298$3,802$3,357$2,958$2,603$1,819
13 years$3,926$3,436$2,999$2,612$2,270$1,530
14 years$3,608$3,123$2,695$2,318$1,990$1,294
15 years$3,333$2,853$2,433$2,067$1,752$1,097
16 years$3,092$2,618$2,206$1,851$1,548$934
17 years$2,880$2,411$2,007$1,663$1,373$797
18 years$2,692$2,228$1,832$1,499$1,221$681
19 years$2,524$2,064$1,677$1,354$1,088$583
20 years$2,372$1,918$1,539$1,227$972$500
21 years$2,236$1,787$1,416$1,113$870$430
22 years$2,111$1,668$1,305$1,012$780$370
23 years$1,998$1,560$1,205$922$700$318
24 years$1,895$1,462$1,114$841$629$274
25 years$1,800$1,372$1,032$768$566$236
26 years$1,712$1,289$957$702$510$204
27 years$1,631$1,213$889$643$460$176
28 years$1,556$1,143$826$589$415$152
29 years$1,486$1,079$769$540$374$131
30 years$1,421$1,019$716$496$338$113
31 years$1,360$963$668$455$306$98
32 years$1,303$911$623$418$277$85
33 years$1,250$863$582$385$250$73
34 years$1,200$818$544$354$227$63
35 years$1,153$776$508$326$205$55
36 years$1,109$736$475$300$186$47
37 years$1,067$699$445$276$169$41
38 years$1,027$664$417$255$153$35
39 years$990$632$390$235$139$31
40 years$954$601$366$217$126$27
41 years$921$572$343$200$114$23
42 years$889$545$322$185$104$20
43 years$858$519$302$170$94$17
44 years$829$495$283$157$85$15
45 years$802$472$266$145$77$13
46 years$775$450$250$134$70$11
47 years$750$430$235$124$64$10
48 years$726$410$221$115$58$8
49 years$703$392$207$106$53$7
50 years$681$374$195$98$48$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $698,000, adding $2,979 every year, while hoping to spend $28,234 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: 71/8/21 Blend
67$698,000$698,000$698,000$698,000
68$772,269$735,275$724,456$822,919
69$821,000$741,263$718,684$863,057
70$873,754$746,597$711,773$903,361
71$930,914$751,218$703,655$946,791
72$992,898$755,057$694,257$993,654
73$1,060,165$758,046$683,506$1,044,289
74$1,133,222$760,111$671,324$1,099,069
75$1,212,625$761,172$657,628$1,158,405
76$1,298,988$761,144$642,334$1,222,751
77$1,392,985$759,940$625,352$1,292,607
78$1,495,356$757,464$606,588$1,368,525
79$1,606,919$753,616$585,945$1,451,115
80$1,728,570$748,288$563,319$1,541,047
81$1,861,298$741,369$538,605$1,639,063
82$2,006,192$732,738$511,690$1,745,980
83$2,164,449$722,267$482,457$1,862,698
84$2,337,388$709,823$450,784$1,990,212
85$2,526,459$695,262$416,543$2,129,617
86$2,733,262$678,433$379,601$2,282,123
87$2,959,555$659,177$339,818$2,449,062
88$3,207,276$637,323$297,048$2,631,906
89$3,478,559$612,693$251,140$2,832,274
90$3,775,753$585,096$201,934$3,051,956
91$4,101,446$554,332$149,265$3,292,924
92$4,458,487$520,188$92,960$3,557,350
93$4,850,015$482,440$32,837$3,847,635
94$5,279,488$440,850$0$4,166,420
95$5,750,712$395,168$0$4,523,641
96$6,267,881$345,128$0$4,923,802
97$6,835,615$290,450$0$5,363,128
98$7,459,004$230,837$0$5,845,575
99$8,143,651$165,978$0$6,375,504
100$8,895,734$95,540$0$6,957,716