Can I retire at age 68 with 488,000?

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 $488,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$40,299$39,940$39,589$39,248$38,914$38,734
2 years$19,950$19,578$19,218$18,869$18,530$18,348
3 years$13,168$12,795$12,435$12,090$11,756$11,578
4 years$9,777$9,405$9,050$8,710$8,385$8,212
5 years$7,744$7,374$7,023$6,690$6,374$6,207
6 years$6,388$6,021$5,676$5,350$5,044$4,883
7 years$5,421$5,057$4,716$4,399$4,102$3,947
8 years$4,695$4,335$4,000$3,690$3,403$3,254
9 years$4,131$3,774$3,445$3,143$2,866$2,723
10 years$3,680$3,327$3,004$2,709$2,442$2,305
11 years$3,312$2,961$2,644$2,358$2,100$1,969
12 years$3,005$2,658$2,347$2,068$1,820$1,695
13 years$2,745$2,402$2,097$1,826$1,587$1,468
14 years$2,523$2,183$1,884$1,621$1,391$1,278
15 years$2,330$1,995$1,701$1,445$1,225$1,117
16 years$2,162$1,830$1,542$1,294$1,082$980
17 years$2,014$1,685$1,403$1,163$960$862
18 years$1,882$1,557$1,281$1,048$853$761
19 years$1,764$1,443$1,173$947$761$673
20 years$1,659$1,341$1,076$858$679$596
21 years$1,563$1,249$990$778$608$529
22 years$1,476$1,166$912$708$545$471
23 years$1,397$1,091$842$645$489$419
24 years$1,325$1,022$779$588$440$374
25 years$1,258$959$722$537$396$333
26 years$1,197$901$669$491$356$298
27 years$1,140$848$621$449$321$266
28 years$1,088$799$578$412$290$238
29 years$1,039$754$538$378$262$213
30 years$993$712$501$346$237$191
31 years$951$673$467$318$214$171
32 years$911$637$436$292$193$153
33 years$874$603$407$269$175$138
34 years$839$572$380$247$159$123
35 years$806$542$355$228$144$111
36 years$775$515$332$210$130$99
37 years$746$489$311$193$118$89
38 years$718$465$291$178$107$80
39 years$692$442$273$164$97$72
40 years$667$420$256$152$88$65
41 years$644$400$240$140$80$58
42 years$621$381$225$129$72$52
43 years$600$363$211$119$66$47
44 years$580$346$198$110$60$42
45 years$561$330$186$102$54$38
46 years$542$315$175$94$49$34
47 years$525$300$164$87$45$31
48 years$508$287$154$80$41$28
49 years$492$274$145$74$37$25
50 years$476$262$136$68$33$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $488,000, adding $4,509 every year, while hoping to spend $26,827 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: 43/45/12 Blend
67$488,000$488,000$488,000$488,000
68$542,427$516,563$508,999$563,679
69$569,211$513,331$497,507$575,741
70$597,828$509,041$484,730$585,755
71$628,436$503,614$470,599$596,009
72$661,209$496,964$455,037$606,537
73$696,339$489,002$437,967$617,377
74$734,034$479,631$419,307$628,572
75$774,523$468,751$398,972$640,175
76$818,060$456,256$376,873$652,241
77$864,921$442,030$352,917$664,839
78$915,408$425,956$327,005$678,042
79$969,857$407,905$299,037$691,937
80$1,028,634$387,743$268,906$706,620
81$1,092,141$365,329$236,501$722,203
82$1,160,822$340,513$201,706$738,809
83$1,235,162$313,134$164,399$756,579
84$1,315,697$283,026$124,455$775,672
85$1,403,015$250,011$81,741$796,266
86$1,497,762$213,902$36,119$818,563
87$1,600,650$174,499$0$842,788
88$1,712,462$131,595$0$870,803
89$1,834,057$84,967$0$906,324
90$1,966,384$34,383$0$945,060
91$2,110,483$0$0$987,387
92$2,267,501$0$0$1,043,830
93$2,438,700$0$0$1,123,989
94$2,625,469$0$0$1,211,495
95$2,829,336$0$0$1,307,073
96$3,051,984$0$0$1,411,517
97$3,295,264$0$0$1,525,705
98$3,561,216$0$0$1,650,602
99$3,852,086$0$0$1,787,270
100$4,170,344$0$0$1,936,880