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%16.5%
1 years$58,053$57,536$57,031$56,539$56,058$54,570
2 years$28,739$28,204$27,685$27,182$26,694$25,206
3 years$18,969$18,432$17,914$17,416$16,936$15,493
4 years$14,085$13,549$13,037$12,547$12,079$10,693
5 years$11,155$10,623$10,117$9,637$9,182$7,857
6 years$9,203$8,674$8,176$7,707$7,266$6,002
7 years$7,809$7,285$6,794$6,336$5,909$4,708
8 years$6,764$6,244$5,762$5,316$4,902$3,762
9 years$5,951$5,437$4,963$4,528$4,128$3,049
10 years$5,302$4,792$4,327$3,903$3,517$2,497
11 years$4,771$4,266$3,809$3,397$3,025$2,063
12 years$4,328$3,829$3,381$2,979$2,621$1,715
13 years$3,954$3,460$3,020$2,630$2,286$1,433
14 years$3,634$3,145$2,714$2,335$2,004$1,203
15 years$3,357$2,873$2,450$2,082$1,764$1,014
16 years$3,115$2,636$2,221$1,864$1,559$856
17 years$2,901$2,428$2,021$1,675$1,383$725
18 years$2,711$2,244$1,845$1,510$1,229$616
19 years$2,542$2,079$1,689$1,364$1,096$523
20 years$2,389$1,932$1,550$1,236$979$446
21 years$2,252$1,800$1,426$1,121$876$380
22 years$2,127$1,680$1,314$1,020$785$324
23 years$2,013$1,571$1,214$928$705$277
24 years$1,908$1,472$1,122$847$633$237
25 years$1,812$1,382$1,039$773$570$202
26 years$1,724$1,298$964$707$513$173
27 years$1,643$1,222$895$647$463$148
28 years$1,567$1,151$832$593$418$127
29 years$1,497$1,086$774$544$377$109
30 years$1,431$1,026$721$499$341$93
31 years$1,370$970$673$458$308$80
32 years$1,313$918$627$421$279$68
33 years$1,259$869$586$387$252$59
34 years$1,209$824$547$356$228$50
35 years$1,161$781$512$328$207$43
36 years$1,117$741$479$302$187$37
37 years$1,074$704$448$278$170$32
38 years$1,035$669$420$257$154$27
39 years$997$636$393$237$140$23
40 years$961$605$369$218$127$20
41 years$927$576$346$201$115$17
42 years$895$549$324$186$104$15
43 years$864$523$304$172$95$13
44 years$835$499$286$158$86$11
45 years$807$475$268$146$78$9
46 years$781$454$252$135$71$8
47 years$756$433$237$125$64$7
48 years$732$413$222$115$58$6
49 years$708$395$209$107$53$5
50 years$686$377$196$99$48$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $703,000, adding $3,879 every year, while hoping to spend $21,021 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: 67/13/20 Blend
67$703,000$703,000$703,000$703,000
68$778,707$741,448$730,552$826,741
69$835,769$755,413$732,659$873,359
70$897,947$769,357$734,132$921,531
71$965,740$783,259$734,928$973,704
72$1,039,698$797,091$735,001$1,030,273
73$1,120,427$810,828$734,304$1,091,671
74$1,208,593$824,441$732,785$1,158,375
75$1,304,929$837,898$730,393$1,230,911
76$1,410,243$851,166$727,072$1,309,860
77$1,525,423$864,208$722,764$1,395,862
78$1,651,448$876,987$717,409$1,489,621
79$1,789,397$889,461$710,943$1,591,914
80$1,940,456$901,584$703,300$1,703,599
81$2,105,932$913,312$694,410$1,825,618
82$2,287,264$924,591$684,200$1,959,014
83$2,486,038$935,369$672,594$2,104,933
84$2,703,999$945,587$659,511$2,264,641
85$2,943,070$955,184$644,868$2,439,530
86$3,205,370$964,094$628,577$2,631,138
87$3,493,230$972,247$610,547$2,841,159
88$3,809,220$979,569$590,681$3,071,460
89$4,156,172$985,979$568,880$3,324,099
90$4,537,203$991,393$545,039$3,601,346
91$4,955,747$995,721$519,048$3,905,702
92$5,415,589$998,867$490,792$4,239,924
93$5,920,898$1,000,730$460,151$4,607,051
94$6,476,264$1,001,201$427,001$5,010,434
95$7,086,749$1,000,165$391,211$5,453,764
96$7,757,924$997,500$352,644$5,941,113
97$8,495,932$993,078$311,157$6,476,968
98$9,307,538$986,759$266,602$7,066,274
99$10,200,196$978,399$218,822$7,714,484
100$11,182,118$967,843$167,655$8,427,606