Can I retire at age 68 with 702,000?

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 $702,000?

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$57,971$57,454$56,950$56,459$55,978$54,803
2 years$28,698$28,164$27,646$27,144$26,656$25,478
3 years$18,942$18,405$17,889$17,391$16,912$15,767
4 years$14,065$13,530$13,018$12,529$12,062$10,959
5 years$11,140$10,608$10,103$9,624$9,169$8,112
6 years$9,190$8,662$8,165$7,696$7,255$6,245
7 years$7,798$7,274$6,785$6,327$5,900$4,937
8 years$6,754$6,235$5,754$5,308$4,895$3,978
9 years$5,943$5,429$4,956$4,521$4,122$3,251
10 years$5,294$4,785$4,321$3,897$3,512$2,686
11 years$4,764$4,260$3,804$3,392$3,021$2,238
12 years$4,322$3,824$3,376$2,975$2,618$1,878
13 years$3,949$3,456$3,016$2,627$2,283$1,584
14 years$3,629$3,141$2,710$2,332$2,001$1,343
15 years$3,352$2,869$2,447$2,079$1,762$1,142
16 years$3,110$2,633$2,218$1,862$1,557$975
17 years$2,897$2,424$2,019$1,673$1,381$834
18 years$2,707$2,240$1,843$1,508$1,228$715
19 years$2,538$2,076$1,687$1,362$1,094$614
20 years$2,386$1,929$1,548$1,234$977$529
21 years$2,248$1,797$1,424$1,120$875$455
22 years$2,124$1,678$1,312$1,018$784$393
23 years$2,010$1,569$1,212$927$704$339
24 years$1,906$1,470$1,121$846$633$293
25 years$1,810$1,380$1,038$772$569$254
26 years$1,722$1,297$963$706$513$219
27 years$1,640$1,220$894$646$462$190
28 years$1,565$1,150$831$592$417$165
29 years$1,494$1,085$773$543$377$143
30 years$1,429$1,024$720$498$340$124
31 years$1,368$968$672$458$308$107
32 years$1,311$916$627$421$278$93
33 years$1,257$868$585$387$252$81
34 years$1,207$822$547$356$228$70
35 years$1,160$780$511$328$207$61
36 years$1,115$740$478$302$187$53
37 years$1,073$703$447$278$170$46
38 years$1,033$668$419$256$154$40
39 years$995$635$393$236$139$34
40 years$960$605$368$218$126$30
41 years$926$576$345$201$115$26
42 years$894$548$324$186$104$23
43 years$863$522$304$171$94$20
44 years$834$498$285$158$86$17
45 years$806$475$268$146$78$15
46 years$780$453$251$135$71$13
47 years$755$432$236$125$64$11
48 years$731$413$222$115$58$10
49 years$707$394$209$106$53$8
50 years$685$376$196$98$48$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $702,000, adding $4,970 every year, while hoping to spend $47,295 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: 67/19/14 Blend
67$702,000$702,000$702,000$702,000
68$778,731$741,525$730,644$828,056
69$807,840$727,538$704,799$847,587
70$838,333$711,280$676,503$862,897
71$870,301$692,591$645,624$878,442
72$903,843$671,300$612,024$894,242
73$939,067$647,226$575,559$910,318
74$976,090$620,178$536,078$926,697
75$1,015,037$589,953$493,423$943,410
76$1,056,048$556,338$447,430$960,493
77$1,099,273$519,106$397,926$977,987
78$1,144,875$478,018$344,733$995,938
79$1,193,033$432,822$287,662$1,014,402
80$1,243,942$383,250$226,518$1,033,440
81$1,297,813$329,019$161,096$1,053,125
82$1,354,880$269,830$91,183$1,073,536
83$1,415,396$205,369$16,555$1,094,767
84$1,479,636$135,303$0$1,116,922
85$1,547,906$59,279$0$1,149,542
86$1,620,535$0$0$1,186,591
87$1,697,887$0$0$1,230,607
88$1,780,359$0$0$1,290,774
89$1,868,385$0$0$1,355,020
90$1,962,442$0$0$1,423,695
91$2,063,053$0$0$1,497,184
92$2,170,790$0$0$1,575,910
93$2,286,282$0$0$1,660,336
94$2,410,217$0$0$1,750,969
95$2,543,351$0$0$1,848,367
96$2,686,515$0$0$1,953,141
97$2,840,619$0$0$2,065,964
98$3,006,665$0$0$2,187,574
99$3,185,750$0$0$2,318,781
100$3,379,084$0$0$2,460,475