Can I retire at age 68 with 698,000?

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 $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%15.1%
1 years$57,640$57,127$56,626$56,137$55,660$54,491
2 years$28,535$28,003$27,488$26,989$26,505$25,333
3 years$18,834$18,300$17,787$17,292$16,816$15,677
4 years$13,985$13,453$12,944$12,458$11,993$10,897
5 years$11,076$10,547$10,045$9,569$9,117$8,066
6 years$9,137$8,613$8,118$7,652$7,214$6,209
7 years$7,753$7,233$6,746$6,291$5,867$4,909
8 years$6,716$6,200$5,721$5,278$4,867$3,955
9 years$5,909$5,398$4,928$4,495$4,099$3,232
10 years$5,264$4,758$4,296$3,875$3,492$2,671
11 years$4,737$4,236$3,782$3,373$3,004$2,226
12 years$4,298$3,802$3,357$2,958$2,603$1,867
13 years$3,926$3,436$2,999$2,612$2,270$1,575
14 years$3,608$3,123$2,695$2,318$1,990$1,335
15 years$3,333$2,853$2,433$2,067$1,752$1,136
16 years$3,092$2,618$2,206$1,851$1,548$969
17 years$2,880$2,411$2,007$1,663$1,373$829
18 years$2,692$2,228$1,832$1,499$1,221$711
19 years$2,524$2,064$1,677$1,354$1,088$611
20 years$2,372$1,918$1,539$1,227$972$526
21 years$2,236$1,787$1,416$1,113$870$453
22 years$2,111$1,668$1,305$1,012$780$391
23 years$1,998$1,560$1,205$922$700$337
24 years$1,895$1,462$1,114$841$629$291
25 years$1,800$1,372$1,032$768$566$252
26 years$1,712$1,289$957$702$510$218
27 years$1,631$1,213$889$643$460$189
28 years$1,556$1,143$826$589$415$164
29 years$1,486$1,079$769$540$374$142
30 years$1,421$1,019$716$496$338$123
31 years$1,360$963$668$455$306$107
32 years$1,303$911$623$418$277$92
33 years$1,250$863$582$385$250$80
34 years$1,200$818$544$354$227$70
35 years$1,153$776$508$326$205$60
36 years$1,109$736$475$300$186$52
37 years$1,067$699$445$276$169$45
38 years$1,027$664$417$255$153$39
39 years$990$632$390$235$139$34
40 years$954$601$366$217$126$30
41 years$921$572$343$200$114$26
42 years$889$545$322$185$104$22
43 years$858$519$302$170$94$20
44 years$829$495$283$157$85$17
45 years$802$472$266$145$77$15
46 years$775$450$250$134$70$13
47 years$750$430$235$124$64$11
48 years$726$410$221$115$58$10
49 years$703$392$207$106$53$8
50 years$681$374$195$98$48$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $698,000, adding $5,938 every year, while hoping to spend $41,798 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: 82/12/6 Blend
67$698,000$698,000$698,000$698,000
68$775,321$738,327$727,508$838,104
69$809,931$730,032$707,407$871,719
70$846,670$719,930$685,231$902,400
71$885,712$707,888$660,868$934,785
72$927,246$693,766$634,198$969,021
73$971,478$677,413$605,097$1,005,269
74$1,018,636$658,674$573,435$1,043,706
75$1,068,968$637,381$539,076$1,084,527
76$1,122,747$613,356$501,880$1,127,948
77$1,180,271$586,414$461,696$1,174,205
78$1,241,867$556,357$418,371$1,223,559
79$1,307,894$522,974$371,743$1,276,299
80$1,378,745$486,046$321,642$1,332,743
81$1,454,852$445,338$267,893$1,393,240
82$1,536,690$400,602$210,310$1,458,176
83$1,624,779$351,578$148,702$1,527,977
84$1,719,690$297,989$82,867$1,603,112
85$1,822,051$239,544$12,596$1,684,099
86$1,932,553$175,934$0$1,771,510
87$2,051,952$106,833$0$1,869,968
88$2,181,081$31,899$0$1,977,294
89$2,320,857$0$0$2,093,463
90$2,472,284$0$0$2,225,836
91$2,636,471$0$0$2,373,942
92$2,814,633$0$0$2,534,669
93$3,008,108$0$0$2,709,226
94$3,218,369$0$0$2,898,942
95$3,447,034$0$0$3,105,280
96$3,695,886$0$0$3,329,850
97$3,966,885$0$0$3,574,423
98$4,262,186$0$0$3,840,948
99$4,584,165$0$0$4,131,569
100$4,935,434$0$0$4,448,647