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%13.8%
1 years$58,136$57,618$57,113$56,619$56,138$55,253
2 years$28,780$28,244$27,725$27,221$26,732$25,844
3 years$18,996$18,458$17,940$17,441$16,960$16,095
4 years$14,105$13,568$13,055$12,565$12,096$11,261
5 years$11,171$10,638$10,132$9,651$9,195$8,392
6 years$9,216$8,687$8,188$7,718$7,276$6,506
7 years$7,820$7,295$6,804$6,345$5,917$5,181
8 years$6,773$6,253$5,770$5,323$4,909$4,206
9 years$5,960$5,444$4,970$4,534$4,134$3,464
10 years$5,309$4,799$4,333$3,908$3,522$2,885
11 years$4,777$4,272$3,815$3,401$3,029$2,424
12 years$4,335$3,835$3,385$2,984$2,625$2,051
13 years$3,960$3,465$3,025$2,634$2,289$1,745
14 years$3,639$3,150$2,718$2,338$2,007$1,492
15 years$3,362$2,877$2,454$2,085$1,767$1,281
16 years$3,119$2,640$2,225$1,867$1,562$1,103
17 years$2,905$2,431$2,024$1,678$1,385$953
18 years$2,715$2,247$1,848$1,512$1,231$825
19 years$2,545$2,082$1,692$1,366$1,097$715
20 years$2,393$1,935$1,553$1,237$980$621
21 years$2,255$1,802$1,428$1,123$877$541
22 years$2,130$1,682$1,316$1,021$786$471
23 years$2,015$1,573$1,215$930$706$411
24 years$1,911$1,474$1,124$848$634$359
25 years$1,815$1,384$1,041$774$571$313
26 years$1,727$1,300$965$708$514$274
27 years$1,645$1,224$897$648$464$240
28 years$1,569$1,153$833$594$418$210
29 years$1,499$1,088$776$545$378$184
30 years$1,433$1,027$722$500$341$161
31 years$1,372$971$673$459$309$141
32 years$1,314$919$628$422$279$124
33 years$1,261$870$587$388$253$109
34 years$1,210$825$548$357$229$95
35 years$1,163$782$513$329$207$84
36 years$1,118$743$479$303$188$73
37 years$1,076$705$449$279$170$64
38 years$1,036$670$420$257$154$56
39 years$998$637$394$237$140$50
40 years$962$606$369$219$127$44
41 years$929$577$346$202$115$38
42 years$896$550$325$186$104$34
43 years$866$524$305$172$95$29
44 years$836$499$286$159$86$26
45 years$809$476$268$146$78$23
46 years$782$454$252$135$71$20
47 years$757$433$237$125$64$18
48 years$733$414$223$116$58$15
49 years$709$395$209$107$53$14
50 years$687$377$197$99$48$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $704,000, adding $4,815 every year, while hoping to spend $27,668 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: 24/50/26 Blend
67$704,000$704,000$704,000$704,000
68$780,775$743,463$732,551$793,003
69$830,975$750,454$727,653$810,615
70$885,369$756,860$721,663$826,805
71$944,354$762,624$714,516$843,564
72$1,008,369$767,684$706,144$860,955
73$1,077,896$771,973$696,473$879,054
74$1,153,465$775,423$685,428$897,942
75$1,235,659$777,960$672,930$917,716
76$1,325,120$779,503$658,897$938,479
77$1,422,553$779,970$643,242$960,353
78$1,528,737$779,272$625,873$983,472
79$1,644,525$777,313$606,697$1,007,986
80$1,770,859$773,994$585,614$1,034,066
81$1,908,775$769,208$562,521$1,061,902
82$2,059,413$762,843$537,308$1,091,706
83$2,224,028$754,777$509,863$1,123,718
84$2,404,003$744,884$480,067$1,158,206
85$2,600,858$733,031$447,796$1,195,466
86$2,816,269$719,073$412,921$1,235,834
87$3,052,081$702,860$375,306$1,279,681
88$3,310,326$684,233$334,811$1,327,424
89$3,593,239$663,021$291,288$1,379,524
90$3,903,286$639,045$244,582$1,436,499
91$4,243,179$612,116$194,533$1,498,924
92$4,615,906$582,032$140,973$1,567,437
93$5,024,759$548,582$83,726$1,642,753
94$5,473,363$511,541$22,610$1,725,661
95$5,965,711$470,672$0$1,817,044
96$6,506,201$425,723$0$1,929,700
97$7,099,679$376,429$0$2,060,356
98$7,751,482$322,510$0$2,203,998
99$8,467,490$263,669$0$2,362,025
100$9,254,179$199,594$0$2,535,985