Can I retire at age 68 with 704,000?

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 $704,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$58,136$57,618$57,113$56,619$56,138$55,575
2 years$28,780$28,244$27,725$27,221$26,732$26,165
3 years$18,996$18,458$17,940$17,441$16,960$16,406
4 years$14,105$13,568$13,055$12,565$12,096$11,560
5 years$11,171$10,638$10,132$9,651$9,195$8,679
6 years$9,216$8,687$8,188$7,718$7,276$6,779
7 years$7,820$7,295$6,804$6,345$5,917$5,441
8 years$6,773$6,253$5,770$5,323$4,909$4,453
9 years$5,960$5,444$4,970$4,534$4,134$3,698
10 years$5,309$4,799$4,333$3,908$3,522$3,106
11 years$4,777$4,272$3,815$3,401$3,029$2,633
12 years$4,335$3,835$3,385$2,984$2,625$2,247
13 years$3,960$3,465$3,025$2,634$2,289$1,930
14 years$3,639$3,150$2,718$2,338$2,007$1,666
15 years$3,362$2,877$2,454$2,085$1,767$1,443
16 years$3,119$2,640$2,225$1,867$1,562$1,255
17 years$2,905$2,431$2,024$1,678$1,385$1,095
18 years$2,715$2,247$1,848$1,512$1,231$957
19 years$2,545$2,082$1,692$1,366$1,097$839
20 years$2,393$1,935$1,553$1,237$980$736
21 years$2,255$1,802$1,428$1,123$877$647
22 years$2,130$1,682$1,316$1,021$786$570
23 years$2,015$1,573$1,215$930$706$503
24 years$1,911$1,474$1,124$848$634$444
25 years$1,815$1,384$1,041$774$571$392
26 years$1,727$1,300$965$708$514$346
27 years$1,645$1,224$897$648$464$307
28 years$1,569$1,153$833$594$418$271
29 years$1,499$1,088$776$545$378$240
30 years$1,433$1,027$722$500$341$213
31 years$1,372$971$673$459$309$189
32 years$1,314$919$628$422$279$168
33 years$1,261$870$587$388$253$149
34 years$1,210$825$548$357$229$132
35 years$1,163$782$513$329$207$117
36 years$1,118$743$479$303$188$104
37 years$1,076$705$449$279$170$92
38 years$1,036$670$420$257$154$82
39 years$998$637$394$237$140$73
40 years$962$606$369$219$127$65
41 years$929$577$346$202$115$58
42 years$896$550$325$186$104$51
43 years$866$524$305$172$95$46
44 years$836$499$286$159$86$40
45 years$809$476$268$146$78$36
46 years$782$454$252$135$71$32
47 years$757$433$237$125$64$28
48 years$733$414$223$116$58$25
49 years$709$395$209$107$53$22
50 years$687$377$197$99$48$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $704,000, adding $5,684 every year, while hoping to spend $22,214 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: 46/44/10 Blend
67$704,000$704,000$704,000$704,000
68$781,671$744,359$733,447$815,192
69$837,766$757,197$734,382$851,768
70$898,838$769,920$734,604$888,676
71$965,372$782,498$734,065$928,208
72$1,037,899$794,900$732,716$970,615
73$1,117,008$807,093$730,505$1,016,175
74$1,203,342$819,040$727,376$1,065,191
75$1,297,614$830,704$723,274$1,118,001
76$1,400,604$842,042$718,137$1,174,976
77$1,513,174$853,010$711,904$1,236,525
78$1,636,272$863,562$704,507$1,303,100
79$1,770,942$873,647$695,878$1,375,201
80$1,918,333$883,211$685,945$1,453,377
81$2,079,711$892,196$674,632$1,538,236
82$2,256,469$900,541$661,859$1,630,447
83$2,450,142$908,181$647,545$1,730,751
84$2,662,421$915,046$631,602$1,839,962
85$2,895,166$921,061$613,939$1,958,982
86$3,150,429$926,149$594,461$2,088,803
87$3,430,467$930,224$573,070$2,230,520
88$3,737,767$933,198$549,661$2,385,344
89$4,075,071$934,976$524,125$2,554,608
90$4,445,394$935,456$496,350$2,739,783
91$4,852,063$934,532$466,216$2,942,493
92$5,298,739$932,090$433,600$3,164,529
93$5,789,456$928,008$398,372$3,407,868
94$6,328,660$922,160$360,396$3,674,690
95$6,921,245$914,408$319,532$3,967,398
96$7,572,607$904,609$275,631$4,288,646
97$8,288,688$892,609$228,539$4,641,360
98$9,076,034$878,247$178,096$5,028,767
99$9,941,860$861,352$124,132$5,454,427
100$10,894,112$841,740$66,473$5,922,268