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%13.7%
1 years$58,879$58,354$57,843$57,343$56,856$55,983
2 years$29,148$28,605$28,079$27,569$27,074$26,197
3 years$19,239$18,694$18,169$17,664$17,177$16,323
4 years$14,285$13,742$13,222$12,726$12,251$11,426
5 years$11,314$10,774$10,261$9,775$9,313$8,520
6 years$9,334$8,798$8,292$7,817$7,369$6,609
7 years$7,920$7,388$6,891$6,427$5,993$5,266
8 years$6,860$6,333$5,844$5,391$4,972$4,277
9 years$6,036$5,514$5,034$4,592$4,187$3,525
10 years$5,377$4,860$4,388$3,958$3,567$2,938
11 years$4,839$4,327$3,863$3,445$3,068$2,470
12 years$4,390$3,884$3,429$3,022$2,659$2,091
13 years$4,011$3,510$3,063$2,668$2,318$1,781
14 years$3,686$3,190$2,752$2,368$2,032$1,523
15 years$3,405$2,914$2,485$2,112$1,789$1,309
16 years$3,159$2,674$2,253$1,891$1,582$1,128
17 years$2,942$2,462$2,050$1,699$1,402$975
18 years$2,750$2,275$1,872$1,531$1,247$844
19 years$2,578$2,109$1,713$1,384$1,111$733
20 years$2,423$1,960$1,572$1,253$993$637
21 years$2,284$1,825$1,446$1,137$888$555
22 years$2,157$1,704$1,333$1,034$796$484
23 years$2,041$1,594$1,231$942$715$422
24 years$1,935$1,493$1,138$859$642$369
25 years$1,838$1,401$1,054$784$578$323
26 years$1,749$1,317$978$717$521$282
27 years$1,666$1,239$908$656$469$247
28 years$1,589$1,168$844$601$424$217
29 years$1,518$1,102$785$552$383$190
30 years$1,451$1,040$732$506$346$166
31 years$1,389$984$682$465$312$146
32 years$1,331$931$636$427$283$128
33 years$1,277$881$594$393$256$112
34 years$1,226$835$555$361$232$99
35 years$1,178$792$519$333$210$87
36 years$1,132$752$486$306$190$76
37 years$1,090$714$454$282$172$67
38 years$1,049$679$426$260$156$59
39 years$1,011$645$399$240$142$52
40 years$975$614$374$221$128$45
41 years$940$585$350$204$117$40
42 years$908$557$329$188$106$35
43 years$877$530$308$174$96$31
44 years$847$506$290$161$87$27
45 years$819$482$272$148$79$24
46 years$792$460$255$137$72$21
47 years$766$439$240$127$65$18
48 years$742$419$225$117$59$16
49 years$719$400$212$108$54$14
50 years$696$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 $713,000, adding $5,085 every year, while hoping to spend $21,848 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: 27/49/24 Blend
67$713,000$713,000$713,000$713,000
68$790,971$753,182$742,131$806,254
69$848,404$766,842$743,746$832,463
70$910,963$780,439$744,683$858,341
71$979,148$793,947$744,896$885,670
72$1,053,508$807,337$744,338$914,586
73$1,134,649$820,580$742,956$945,241
74$1,223,238$833,643$740,700$977,804
75$1,320,008$846,492$737,513$1,012,462
76$1,425,766$859,087$733,337$1,049,420
77$1,541,402$871,390$728,112$1,088,908
78$1,667,894$883,357$721,773$1,131,180
79$1,806,321$894,943$714,253$1,176,515
80$1,957,868$906,098$705,483$1,225,224
81$2,123,843$916,770$695,390$1,277,651
82$2,305,686$926,902$683,896$1,334,177
83$2,504,980$936,434$670,921$1,395,222
84$2,723,472$945,304$656,381$1,461,252
85$2,963,084$953,442$640,188$1,532,782
86$3,225,934$960,776$622,249$1,610,382
87$3,514,354$967,228$602,469$1,694,683
88$3,830,913$972,718$580,747$1,786,382
89$4,178,442$977,156$556,977$1,886,250
90$4,560,056$980,450$531,049$1,995,138
91$4,979,191$982,501$502,848$2,113,991
92$5,439,628$983,204$472,254$2,243,848
93$5,945,536$982,446$439,140$2,385,863
94$6,501,506$980,111$403,376$2,541,306
95$7,112,594$976,071$364,824$2,711,585
96$7,784,373$970,193$323,340$2,898,252
97$8,522,981$962,335$278,774$3,103,026
98$9,335,183$952,347$230,971$3,327,801
99$10,228,430$940,070$179,766$3,574,674
100$11,210,930$925,334$124,989$3,845,956