Can I retire at age 68 with 706,000?

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 $706,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$58,301$57,782$57,275$56,780$56,297$55,640
2 years$28,862$28,324$27,803$27,298$26,808$26,147
3 years$19,050$18,510$17,991$17,490$17,008$16,363
4 years$14,145$13,607$13,093$12,601$12,130$11,506
5 years$11,203$10,668$10,160$9,679$9,221$8,620
6 years$9,242$8,711$8,211$7,740$7,297$6,719
7 years$7,842$7,316$6,823$6,364$5,934$5,381
8 years$6,793$6,271$5,787$5,338$4,923$4,393
9 years$5,977$5,460$4,984$4,547$4,146$3,640
10 years$5,324$4,813$4,345$3,920$3,532$3,050
11 years$4,791$4,284$3,826$3,411$3,038$2,579
12 years$4,347$3,845$3,395$2,992$2,633$2,196
13 years$3,971$3,475$3,033$2,642$2,296$1,881
14 years$3,650$3,159$2,725$2,345$2,012$1,619
15 years$3,371$2,886$2,461$2,091$1,772$1,399
16 years$3,128$2,648$2,231$1,872$1,566$1,213
17 years$2,913$2,438$2,030$1,682$1,389$1,055
18 years$2,723$2,253$1,853$1,516$1,235$920
19 years$2,553$2,088$1,697$1,370$1,100$804
20 years$2,399$1,940$1,557$1,241$983$704
21 years$2,261$1,807$1,432$1,126$880$617
22 years$2,136$1,687$1,320$1,024$788$542
23 years$2,021$1,578$1,219$932$708$476
24 years$1,916$1,478$1,127$850$636$419
25 years$1,820$1,387$1,044$777$572$369
26 years$1,731$1,304$968$710$516$325
27 years$1,650$1,227$899$650$465$287
28 years$1,574$1,156$836$596$419$253
29 years$1,503$1,091$778$546$379$223
30 years$1,437$1,030$724$501$342$197
31 years$1,376$974$675$460$309$174
32 years$1,318$922$630$423$280$154
33 years$1,264$873$588$389$253$136
34 years$1,214$827$550$358$229$121
35 years$1,166$785$514$330$208$107
36 years$1,121$745$481$303$188$94
37 years$1,079$707$450$280$171$84
38 years$1,039$672$421$258$155$74
39 years$1,001$639$395$238$140$66
40 years$965$608$370$219$127$58
41 years$931$579$347$202$115$51
42 years$899$551$326$187$105$46
43 years$868$525$305$172$95$40
44 years$839$501$287$159$86$36
45 years$811$477$269$147$78$32
46 years$784$455$253$136$71$28
47 years$759$435$238$125$65$25
48 years$735$415$223$116$59$22
49 years$712$396$210$107$53$20
50 years$689$378$197$99$48$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $706,000, adding $3,766 every year, while hoping to spend $39,443 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: 71/12/17 Blend
67$706,000$706,000$706,000$706,000
68$781,897$744,479$733,536$834,039
69$819,683$738,991$716,142$863,708
70$860,002$731,913$696,844$891,084
71$903,069$723,124$675,535$920,045
72$949,123$712,498$652,107$950,743
73$998,424$699,900$626,442$983,343
74$1,051,256$685,188$598,421$1,018,031
75$1,107,934$668,212$567,918$1,055,011
76$1,168,801$648,812$534,801$1,094,507
77$1,234,233$626,819$498,932$1,136,770
78$1,304,646$602,054$460,166$1,182,076
79$1,380,493$574,327$418,355$1,230,731
80$1,462,273$543,440$373,340$1,283,072
81$1,550,536$509,179$324,958$1,339,474
82$1,645,884$471,322$273,037$1,400,349
83$1,748,978$429,631$217,398$1,466,155
84$1,860,548$383,857$157,855$1,537,397
85$1,981,393$333,735$94,212$1,614,634
86$2,112,392$278,985$26,266$1,698,483
87$2,254,514$219,313$0$1,789,628
88$2,408,822$154,407$0$1,897,210
89$2,576,486$83,937$0$2,019,304
90$2,758,794$7,556$0$2,152,105
91$2,957,161$0$0$2,296,674
92$3,173,147$0$0$2,464,099
93$3,408,465$0$0$2,647,630
94$3,665,003$0$0$2,847,745
95$3,944,838$0$0$3,066,068
96$4,250,255$0$0$3,304,388
97$4,583,770$0$0$3,564,673
98$4,948,153$0$0$3,849,088
99$5,346,454$0$0$4,160,020
100$5,782,030$0$0$4,500,094