Can I retire at age 68 with 898,000?

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 $898,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$74,156$73,495$72,851$72,222$71,608$71,186
2 years$36,711$36,027$35,365$34,722$34,099$33,674
3 years$24,231$23,544$22,883$22,247$21,634$21,218
4 years$17,992$17,307$16,653$16,028$15,429$15,026
5 years$14,250$13,569$12,924$12,311$11,729$11,340
6 years$11,756$11,080$10,444$9,845$9,281$8,906
7 years$9,975$9,305$8,679$8,094$7,548$7,187
8 years$8,640$7,976$7,361$6,790$6,262$5,916
9 years$7,602$6,945$6,340$5,784$5,273$4,942
10 years$6,772$6,122$5,527$4,985$4,493$4,176
11 years$6,094$5,450$4,866$4,339$3,864$3,561
12 years$5,529$4,891$4,318$3,806$3,349$3,059
13 years$5,051$4,420$3,858$3,360$2,920$2,644
14 years$4,642$4,018$3,467$2,983$2,560$2,297
15 years$4,288$3,670$3,130$2,660$2,254$2,004
16 years$3,978$3,368$2,838$2,382$1,992$1,754
17 years$3,706$3,101$2,582$2,140$1,766$1,541
18 years$3,463$2,866$2,357$1,928$1,570$1,357
19 years$3,247$2,656$2,158$1,743$1,400$1,197
20 years$3,052$2,468$1,980$1,578$1,250$1,059
21 years$2,876$2,299$1,822$1,432$1,119$938
22 years$2,716$2,146$1,679$1,302$1,003$832
23 years$2,571$2,007$1,550$1,186$900$739
24 years$2,438$1,881$1,434$1,082$809$657
25 years$2,315$1,765$1,328$988$728$585
26 years$2,202$1,659$1,231$903$656$522
27 years$2,098$1,561$1,144$827$591$465
28 years$2,001$1,471$1,063$758$534$415
29 years$1,912$1,388$989$695$482$371
30 years$1,828$1,310$921$638$435$331
31 years$1,750$1,239$859$586$394$296
32 years$1,677$1,172$802$538$356$265
33 years$1,608$1,110$748$495$322$237
34 years$1,544$1,052$699$455$292$212
35 years$1,483$998$654$419$264$190
36 years$1,426$947$612$386$239$170
37 years$1,372$900$572$356$217$152
38 years$1,322$855$536$328$197$136
39 years$1,273$813$502$302$178$122
40 years$1,228$773$471$279$162$110
41 years$1,184$736$441$257$147$98
42 years$1,143$701$414$237$133$88
43 years$1,104$668$389$219$121$79
44 years$1,067$637$365$202$110$71
45 years$1,031$607$342$187$100$64
46 years$998$579$322$173$90$57
47 years$965$553$302$159$82$51
48 years$935$528$284$147$75$46
49 years$905$504$267$136$68$41
50 years$877$481$251$126$62$37

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $898,000, adding $2,659 every year, while hoping to spend $40,502 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: 39/31/30 Blend
67$898,000$898,000$898,000$898,000
68$992,339$944,745$930,826$1,022,133
69$1,050,463$947,943$918,915$1,047,441
70$1,113,160$949,941$905,247$1,070,887
71$1,180,850$950,637$889,721$1,095,483
72$1,254,001$949,922$872,231$1,121,360
73$1,333,124$947,683$852,665$1,148,668
74$1,418,780$943,797$830,907$1,177,571
75$1,511,588$938,136$806,835$1,208,257
76$1,612,227$930,562$780,321$1,240,932
77$1,721,445$920,930$751,233$1,275,831
78$1,840,064$909,087$719,430$1,313,212
79$1,968,987$894,868$684,768$1,353,367
80$2,109,209$878,103$647,093$1,396,618
81$2,261,825$858,606$606,247$1,443,329
82$2,428,037$836,184$562,063$1,493,901
83$2,609,172$810,632$514,367$1,548,784
84$2,806,687$781,733$462,978$1,608,478
85$3,022,187$749,256$407,706$1,673,538
86$3,257,439$712,958$348,352$1,744,583
87$3,514,386$672,581$284,710$1,822,301
88$3,795,170$627,854$216,564$1,907,457
89$4,102,146$578,488$143,689$2,000,900
90$4,437,910$524,179$65,847$2,103,573
91$4,805,319$464,605$0$2,216,524
92$5,207,517$399,426$0$2,346,427
93$5,647,969$328,284$0$2,511,911
94$6,130,490$250,798$0$2,693,391
95$6,659,281$166,567$0$2,892,542
96$7,238,968$75,169$0$3,111,213
97$7,874,646$0$0$3,351,448
98$8,571,929$0$0$3,623,640
99$9,336,998$0$0$3,950,549
100$10,176,663$0$0$4,309,457