Can I retire at age 68 with 712,000?

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 $712,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.6%
1 years$58,796$58,273$57,762$57,263$56,776$55,927
2 years$29,107$28,565$28,040$27,530$27,036$26,183
3 years$19,212$18,668$18,143$17,639$17,153$16,322
4 years$14,265$13,723$13,204$12,708$12,234$11,431
5 years$11,298$10,759$10,247$9,761$9,300$8,528
6 years$9,321$8,785$8,281$7,806$7,359$6,619
7 years$7,909$7,378$6,881$6,418$5,984$5,277
8 years$6,850$6,324$5,836$5,384$4,965$4,289
9 years$6,028$5,506$5,027$4,586$4,181$3,537
10 years$5,370$4,854$4,382$3,953$3,562$2,949
11 years$4,832$4,321$3,858$3,440$3,064$2,481
12 years$4,384$3,878$3,424$3,017$2,655$2,102
13 years$4,005$3,505$3,059$2,664$2,315$1,791
14 years$3,681$3,186$2,749$2,365$2,030$1,533
15 years$3,400$2,910$2,482$2,109$1,787$1,318
16 years$3,154$2,670$2,250$1,888$1,579$1,137
17 years$2,938$2,459$2,047$1,697$1,400$983
18 years$2,746$2,272$1,869$1,529$1,245$852
19 years$2,574$2,106$1,711$1,382$1,110$740
20 years$2,420$1,957$1,570$1,251$991$644
21 years$2,280$1,823$1,444$1,136$887$561
22 years$2,154$1,701$1,331$1,033$795$490
23 years$2,038$1,591$1,229$940$714$428
24 years$1,933$1,491$1,137$858$642$374
25 years$1,836$1,399$1,053$783$577$327
26 years$1,746$1,315$976$716$520$287
27 years$1,664$1,238$907$656$469$251
28 years$1,587$1,166$843$601$423$220
29 years$1,516$1,100$784$551$382$193
30 years$1,449$1,039$731$505$345$170
31 years$1,387$982$681$464$312$149
32 years$1,329$929$636$427$282$131
33 years$1,275$880$593$392$255$115
34 years$1,224$834$554$361$231$101
35 years$1,176$791$518$332$209$89
36 years$1,131$751$485$306$190$78
37 years$1,088$713$454$282$172$69
38 years$1,048$678$425$260$156$60
39 years$1,010$645$398$240$141$53
40 years$973$613$373$221$128$47
41 years$939$584$350$204$116$41
42 years$906$556$328$188$106$36
43 years$875$530$308$174$96$32
44 years$846$505$289$160$87$28
45 years$818$481$272$148$79$25
46 years$791$459$255$137$72$22
47 years$765$438$240$126$65$19
48 years$741$418$225$117$59$17
49 years$718$400$212$108$54$15
50 years$695$382$199$100$49$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $712,000, adding $4,801 every year, while hoping to spend $48,407 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: 55/18/27 Blend
67$712,000$712,000$712,000$712,000
68$789,576$751,840$740,804$826,876
69$818,608$737,176$714,117$838,432
70$848,979$720,170$684,912$845,600
71$880,775$700,658$653,056$852,421
72$914,087$678,463$618,407$858,880
73$949,016$653,401$580,816$864,960
74$985,672$625,273$540,129$870,649
75$1,024,172$593,873$496,185$875,932
76$1,064,645$558,980$448,815$880,800
77$1,107,230$520,362$397,841$885,245
78$1,152,079$477,771$343,081$889,259
79$1,199,359$430,950$284,342$892,842
80$1,249,248$379,621$221,422$895,995
81$1,301,945$323,496$154,113$898,723
82$1,357,662$262,266$82,195$901,037
83$1,416,635$195,608$5,439$902,956
84$1,479,118$123,179$0$904,502
85$1,545,391$44,618$0$927,737
86$1,615,760$0$0$953,777
87$1,690,557$0$0$989,191
88$1,770,148$0$0$1,036,314
89$1,854,932$0$0$1,086,550
90$1,945,348$0$0$1,140,163
91$2,041,875$0$0$1,197,442
92$2,145,037$0$0$1,258,705
93$2,255,411$0$0$1,324,298
94$2,373,628$0$0$1,394,604
95$2,500,381$0$0$1,470,041
96$2,636,428$0$0$1,551,068
97$2,782,604$0$0$1,638,189
98$2,939,823$0$0$1,731,957
99$3,109,091$0$0$1,832,979
100$3,291,511$0$0$1,941,923