Can I retire at age 68 with 713,000?

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 $713,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$58,879$58,354$57,843$57,343$56,856$56,168
2 years$29,148$28,605$28,079$27,569$27,074$26,383
3 years$19,239$18,694$18,169$17,664$17,177$16,502
4 years$14,285$13,742$13,222$12,726$12,251$11,599
5 years$11,314$10,774$10,261$9,775$9,313$8,685
6 years$9,334$8,798$8,292$7,817$7,369$6,766
7 years$7,920$7,388$6,891$6,427$5,993$5,415
8 years$6,860$6,333$5,844$5,391$4,972$4,419
9 years$6,036$5,514$5,034$4,592$4,187$3,659
10 years$5,377$4,860$4,388$3,958$3,567$3,064
11 years$4,839$4,327$3,863$3,445$3,068$2,589
12 years$4,390$3,884$3,429$3,022$2,659$2,203
13 years$4,011$3,510$3,063$2,668$2,318$1,886
14 years$3,686$3,190$2,752$2,368$2,032$1,622
15 years$3,405$2,914$2,485$2,112$1,789$1,401
16 years$3,159$2,674$2,253$1,891$1,582$1,214
17 years$2,942$2,462$2,050$1,699$1,402$1,055
18 years$2,750$2,275$1,872$1,531$1,247$919
19 years$2,578$2,109$1,713$1,384$1,111$803
20 years$2,423$1,960$1,572$1,253$993$702
21 years$2,284$1,825$1,446$1,137$888$615
22 years$2,157$1,704$1,333$1,034$796$540
23 years$2,041$1,594$1,231$942$715$474
24 years$1,935$1,493$1,138$859$642$417
25 years$1,838$1,401$1,054$784$578$367
26 years$1,749$1,317$978$717$521$323
27 years$1,666$1,239$908$656$469$284
28 years$1,589$1,168$844$601$424$251
29 years$1,518$1,102$785$552$383$221
30 years$1,451$1,040$732$506$346$195
31 years$1,389$984$682$465$312$172
32 years$1,331$931$636$427$283$152
33 years$1,277$881$594$393$256$135
34 years$1,226$835$555$361$232$119
35 years$1,178$792$519$333$210$105
36 years$1,132$752$486$306$190$93
37 years$1,090$714$454$282$172$82
38 years$1,049$679$426$260$156$73
39 years$1,011$645$399$240$142$64
40 years$975$614$374$221$128$57
41 years$940$585$350$204$117$50
42 years$908$557$329$188$106$45
43 years$877$530$308$174$96$40
44 years$847$506$290$161$87$35
45 years$819$482$272$148$79$31
46 years$792$460$255$137$72$27
47 years$766$439$240$127$65$24
48 years$742$419$225$117$59$21
49 years$719$400$212$108$54$19
50 years$696$382$199$100$49$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $713,000, adding $4,453 every year, while hoping to spend $33,971 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: 83/8/9 Blend
67$713,000$713,000$713,000$713,000
68$790,319$752,530$741,479$854,574
69$834,787$753,259$730,173$897,988
70$882,652$752,886$717,351$940,648
71$934,224$751,319$702,924$986,453
72$989,846$748,465$686,803$1,035,700
73$1,049,891$744,220$668,892$1,088,714
74$1,114,772$738,479$649,092$1,145,852
75$1,184,942$731,127$627,299$1,207,511
76$1,260,897$722,044$603,405$1,274,125
77$1,343,185$711,101$577,295$1,346,174
78$1,432,408$698,162$548,852$1,424,184
79$1,529,225$683,084$517,951$1,508,737
80$1,634,366$665,715$484,462$1,600,475
81$1,748,630$645,893$448,250$1,700,102
82$1,872,896$623,448$409,172$1,808,397
83$2,008,134$598,200$367,082$1,926,215
84$2,155,408$569,956$321,824$2,054,503
85$2,315,891$538,516$273,237$2,194,299
86$2,490,874$503,664$221,152$2,346,750
87$2,681,776$465,177$165,393$2,513,121
88$2,890,160$422,813$105,777$2,694,803
89$3,117,746$376,321$42,110$2,893,332
90$3,366,430$325,434$0$3,110,399
91$3,638,295$269,870$0$3,350,349
92$3,935,638$209,331$0$3,617,233
93$4,260,987$143,501$0$3,909,289
94$4,617,124$72,049$0$4,229,034
95$5,007,115$0$0$4,579,242
96$5,434,335$0$0$4,963,442
97$5,902,501$0$0$5,391,431
98$6,415,707$0$0$5,860,608
99$6,978,461$0$0$6,375,098
100$7,595,729$0$0$6,939,442