Can I retire at age 68 with 703,000?

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 $703,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$58,053$57,536$57,031$56,539$56,058$55,542
2 years$28,739$28,204$27,685$27,182$26,694$26,174
3 years$18,969$18,432$17,914$17,416$16,936$16,428
4 years$14,085$13,549$13,037$12,547$12,079$11,587
5 years$11,155$10,623$10,117$9,637$9,182$8,708
6 years$9,203$8,674$8,176$7,707$7,266$6,810
7 years$7,809$7,285$6,794$6,336$5,909$5,471
8 years$6,764$6,244$5,762$5,316$4,902$4,483
9 years$5,951$5,437$4,963$4,528$4,128$3,727
10 years$5,302$4,792$4,327$3,903$3,517$3,135
11 years$4,771$4,266$3,809$3,397$3,025$2,660
12 years$4,328$3,829$3,381$2,979$2,621$2,274
13 years$3,954$3,460$3,020$2,630$2,286$1,955
14 years$3,634$3,145$2,714$2,335$2,004$1,690
15 years$3,357$2,873$2,450$2,082$1,764$1,466
16 years$3,115$2,636$2,221$1,864$1,559$1,277
17 years$2,901$2,428$2,021$1,675$1,383$1,115
18 years$2,711$2,244$1,845$1,510$1,229$976
19 years$2,542$2,079$1,689$1,364$1,096$857
20 years$2,389$1,932$1,550$1,236$979$753
21 years$2,252$1,800$1,426$1,121$876$663
22 years$2,127$1,680$1,314$1,020$785$585
23 years$2,013$1,571$1,214$928$705$516
24 years$1,908$1,472$1,122$847$633$457
25 years$1,812$1,382$1,039$773$570$404
26 years$1,724$1,298$964$707$513$358
27 years$1,643$1,222$895$647$463$317
28 years$1,567$1,151$832$593$418$281
29 years$1,497$1,086$774$544$377$249
30 years$1,431$1,026$721$499$341$221
31 years$1,370$970$673$458$308$197
32 years$1,313$918$627$421$279$175
33 years$1,259$869$586$387$252$155
34 years$1,209$824$547$356$228$138
35 years$1,161$781$512$328$207$123
36 years$1,117$741$479$302$187$109
37 years$1,074$704$448$278$170$97
38 years$1,035$669$420$257$154$86
39 years$997$636$393$237$140$77
40 years$961$605$369$218$127$68
41 years$927$576$346$201$115$61
42 years$895$549$324$186$104$54
43 years$864$523$304$172$95$48
44 years$835$499$286$158$86$43
45 years$807$475$268$146$78$38
46 years$781$454$252$135$71$34
47 years$756$433$237$125$64$30
48 years$732$413$222$115$58$27
49 years$708$395$209$107$53$24
50 years$686$377$196$99$48$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $703,000, adding $3,237 every year, while hoping to spend $34,145 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: 54/34/12 Blend
67$703,000$703,000$703,000$703,000
68$778,045$740,786$729,889$817,476
69$821,076$740,754$718,011$844,603
70$867,351$739,577$704,590$870,143
71$917,166$737,161$689,539$897,148
72$970,844$733,410$672,766$925,765
73$1,028,742$728,218$654,175$956,157
74$1,091,249$721,477$633,666$988,504
75$1,158,797$713,069$611,133$1,023,008
76$1,231,855$702,871$586,467$1,059,892
77$1,310,944$690,751$559,553$1,099,403
78$1,396,632$676,570$530,271$1,141,816
79$1,489,549$660,182$498,495$1,187,438
80$1,590,382$641,430$464,094$1,236,605
81$1,699,890$620,150$426,930$1,289,695
82$1,818,908$596,166$386,862$1,347,122
83$1,948,354$569,295$343,738$1,409,350
84$2,089,236$539,340$297,403$1,476,890
85$2,242,665$506,096$247,694$1,550,309
86$2,409,865$469,342$194,440$1,630,236
87$2,592,180$428,849$137,462$1,717,366
88$2,791,092$384,372$76,576$1,812,472
89$3,008,229$335,652$11,588$1,916,406
90$3,245,387$282,417$0$2,030,114
91$3,504,540$224,379$0$2,162,040
92$3,787,862$161,233$0$2,308,008
93$4,097,747$92,657$0$2,467,844
94$4,436,832$18,311$0$2,642,994
95$4,808,019$0$0$2,835,058
96$5,214,504$0$0$3,069,060
97$5,659,806$0$0$3,332,980
98$6,147,801$0$0$3,622,272
99$6,682,759$0$0$3,939,476
100$7,269,382$0$0$4,287,388