Can I retire at age 68 with 701,000?

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 $701,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$57,888$57,372$56,869$56,378$55,899$55,292
2 years$28,657$28,124$27,606$27,105$26,618$26,008
3 years$18,915$18,379$17,863$17,366$16,888$16,292
4 years$14,045$13,511$13,000$12,511$12,045$11,468
5 years$11,124$10,592$10,088$9,610$9,156$8,600
6 years$9,177$8,650$8,153$7,685$7,245$6,711
7 years$7,787$7,264$6,775$6,318$5,892$5,380
8 years$6,745$6,226$5,746$5,300$4,888$4,398
9 years$5,934$5,421$4,949$4,515$4,116$3,648
10 years$5,287$4,779$4,315$3,892$3,507$3,061
11 years$4,757$4,254$3,798$3,387$3,016$2,591
12 years$4,316$3,818$3,371$2,971$2,614$2,209
13 years$3,943$3,451$3,012$2,623$2,279$1,895
14 years$3,624$3,136$2,706$2,328$1,998$1,633
15 years$3,347$2,865$2,443$2,076$1,759$1,413
16 years$3,106$2,629$2,215$1,859$1,555$1,227
17 years$2,893$2,421$2,016$1,670$1,379$1,069
18 years$2,703$2,237$1,840$1,505$1,226$933
19 years$2,534$2,073$1,685$1,360$1,093$816
20 years$2,382$1,927$1,546$1,232$976$716
21 years$2,245$1,795$1,422$1,118$873$628
22 years$2,121$1,675$1,311$1,017$783$552
23 years$2,007$1,567$1,210$926$703$486
24 years$1,903$1,468$1,119$844$632$429
25 years$1,807$1,378$1,037$771$568$378
26 years$1,719$1,295$961$705$512$334
27 years$1,638$1,219$893$645$462$295
28 years$1,562$1,148$830$591$417$261
29 years$1,492$1,083$772$542$376$230
30 years$1,427$1,023$719$498$340$204
31 years$1,366$967$671$457$307$180
32 years$1,309$915$626$420$278$160
33 years$1,255$867$584$386$252$142
34 years$1,205$821$546$355$228$125
35 years$1,158$779$510$327$206$111
36 years$1,113$739$477$301$187$99
37 years$1,071$702$447$278$169$87
38 years$1,032$667$418$256$154$78
39 years$994$635$392$236$139$69
40 years$958$604$367$218$126$61
41 years$925$575$345$201$115$54
42 years$892$547$323$185$104$48
43 years$862$522$303$171$94$43
44 years$833$497$285$158$86$38
45 years$805$474$267$146$78$34
46 years$779$452$251$135$71$30
47 years$754$432$236$124$64$26
48 years$729$412$222$115$58$23
49 years$706$393$208$106$53$21
50 years$684$376$196$98$48$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $701,000, adding $3,201 every year, while hoping to spend $20,322 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: 72/21/7 Blend
67$701,000$701,000$701,000$701,000
68$775,804$738,651$727,785$830,639
69$833,313$753,222$730,544$881,824
70$896,008$767,827$732,713$935,001
71$964,394$782,444$734,253$992,654
72$1,039,032$797,053$735,120$1,055,217
73$1,120,535$811,630$735,268$1,123,171
74$1,209,580$826,151$734,650$1,197,043
75$1,306,912$840,587$733,216$1,277,416
76$1,413,352$854,911$730,914$1,364,929
77$1,529,803$869,090$727,688$1,460,288
78$1,657,258$883,091$723,481$1,564,272
79$1,796,814$896,878$718,233$1,677,736
80$1,949,675$910,411$711,880$1,801,624
81$2,117,171$923,650$704,357$1,936,976
82$2,300,762$936,549$695,593$2,084,937
83$2,502,061$949,061$685,516$2,246,771
84$2,722,841$961,135$674,050$2,423,867
85$2,965,056$972,715$661,116$2,617,759
86$3,230,857$983,744$646,630$2,830,134
87$3,522,617$994,160$630,504$3,062,855
88$3,842,946$1,003,896$612,648$3,317,972
89$4,194,721$1,012,881$592,966$3,597,746
90$4,581,110$1,021,040$571,358$3,904,665
91$5,005,604$1,028,292$547,719$4,241,476
92$5,472,050$1,034,552$521,942$4,611,203
93$5,984,682$1,039,729$493,911$5,017,178
94$6,548,170$1,043,725$463,507$5,463,076
95$7,167,654$1,046,439$430,605$5,952,944
96$7,848,801$1,047,760$395,076$6,491,245
97$8,597,850$1,047,572$356,783$7,082,895
98$9,421,680$1,045,752$315,584$7,733,312
99$10,327,866$1,042,169$271,331$8,448,470
100$11,324,756$1,036,682$223,868$9,234,949