Can I retire at age 68 with 741,000?

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 $741,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$61,191$60,646$60,114$59,595$59,088$58,790
2 years$30,293$29,728$29,182$28,652$28,137$27,836
3 years$19,994$19,428$18,882$18,357$17,851$17,557
4 years$14,846$14,282$13,742$13,225$12,732$12,446
5 years$11,758$11,197$10,664$10,158$9,679$9,402
6 years$9,700$9,143$8,618$8,124$7,658$7,392
7 years$8,231$7,678$7,162$6,679$6,228$5,972
8 years$7,129$6,582$6,074$5,603$5,167$4,921
9 years$6,273$5,731$5,231$4,772$4,351$4,116
10 years$5,588$5,051$4,561$4,114$3,708$3,482
11 years$5,029$4,497$4,015$3,580$3,189$2,973
12 years$4,562$4,036$3,563$3,140$2,763$2,557
13 years$4,168$3,647$3,184$2,772$2,410$2,213
14 years$3,831$3,315$2,861$2,461$2,112$1,925
15 years$3,538$3,029$2,583$2,195$1,860$1,682
16 years$3,283$2,779$2,342$1,965$1,644$1,474
17 years$3,058$2,559$2,131$1,766$1,457$1,297
18 years$2,858$2,365$1,945$1,591$1,296$1,143
19 years$2,679$2,192$1,781$1,438$1,155$1,010
20 years$2,518$2,037$1,634$1,302$1,032$895
21 years$2,373$1,897$1,503$1,182$923$794
22 years$2,242$1,771$1,385$1,075$828$705
23 years$2,121$1,656$1,279$979$743$628
24 years$2,011$1,552$1,183$893$668$559
25 years$1,910$1,456$1,096$815$601$498
26 years$1,817$1,369$1,016$745$541$445
27 years$1,731$1,288$944$682$488$397
28 years$1,652$1,214$877$625$440$355
29 years$1,577$1,145$816$573$398$318
30 years$1,508$1,081$760$526$359$284
31 years$1,444$1,022$709$483$325$255
32 years$1,384$967$661$444$294$228
33 years$1,327$916$618$408$266$204
34 years$1,274$868$577$376$241$183
35 years$1,224$823$539$346$218$164
36 years$1,177$782$505$319$198$147
37 years$1,132$742$472$293$179$132
38 years$1,090$705$442$270$162$119
39 years$1,051$671$414$249$147$107
40 years$1,013$638$388$230$134$96
41 years$977$608$364$212$121$86
42 years$943$579$342$196$110$77
43 years$911$551$321$181$100$69
44 years$880$525$301$167$91$62
45 years$851$501$283$154$82$56
46 years$823$478$265$142$75$50
47 years$797$456$249$132$68$45
48 years$771$435$234$122$62$41
49 years$747$416$220$112$56$36
50 years$723$397$207$104$51$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $741,000, adding $2,858 every year, while hoping to spend $21,983 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: 38/33/29 Blend
67$741,000$741,000$741,000$741,000
68$819,530$780,257$768,772$843,510
69$879,732$795,100$771,136$876,269
70$945,339$809,933$772,842$909,437
71$1,016,877$824,733$773,846$944,867
72$1,094,928$839,475$774,099$982,782
73$1,180,131$854,130$773,553$1,023,423
74$1,273,191$868,669$772,153$1,067,061
75$1,374,883$883,061$769,847$1,113,991
76$1,486,060$897,270$766,576$1,164,544
77$1,607,662$911,260$762,280$1,219,080
78$1,740,723$924,991$756,896$1,278,001
79$1,886,382$938,421$750,357$1,341,750
80$2,045,894$951,504$742,595$1,410,814
81$2,220,639$964,192$733,536$1,485,735
82$2,412,140$976,433$723,105$1,567,108
83$2,622,071$988,171$711,221$1,655,591
84$2,852,278$999,346$697,803$1,751,913
85$3,104,792$1,009,896$682,761$1,856,876
86$3,381,853$1,019,753$666,006$1,971,366
87$3,685,926$1,028,845$647,441$2,096,364
88$4,019,726$1,037,094$626,966$2,232,948
89$4,386,246$1,044,420$604,477$2,382,314
90$4,788,781$1,050,735$579,865$2,545,777
91$5,230,962$1,055,945$553,015$2,724,793
92$5,716,787$1,059,954$523,809$2,920,965
93$6,250,663$1,062,655$492,120$3,136,065
94$6,837,443$1,063,938$457,818$3,372,049
95$7,482,475$1,063,683$420,768$3,631,073
96$8,191,650$1,061,766$380,826$3,915,519
97$8,971,458$1,058,053$337,844$4,228,015
98$9,829,052$1,052,403$291,667$4,571,458
99$10,772,309$1,044,664$242,131$4,949,047
100$11,809,909$1,034,678$189,068$5,364,313