Can I retire at age 68 with 583,000?

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 $583,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$48,144$47,715$47,296$46,888$46,489$45,329
2 years$23,833$23,390$22,959$22,542$22,138$20,976
3 years$15,731$15,285$14,856$14,443$14,045$12,918
4 years$11,681$11,236$10,812$10,405$10,017$8,934
5 years$9,251$8,809$8,390$7,992$7,615$6,578
6 years$7,632$7,194$6,781$6,392$6,025$5,036
7 years$6,476$6,041$5,635$5,255$4,900$3,959
8 years$5,609$5,178$4,779$4,408$4,065$3,171
9 years$4,935$4,509$4,116$3,755$3,423$2,576
10 years$4,397$3,974$3,588$3,237$2,917$2,116
11 years$3,956$3,538$3,159$2,817$2,509$1,752
12 years$3,590$3,176$2,804$2,471$2,174$1,460
13 years$3,279$2,870$2,505$2,181$1,896$1,224
14 years$3,014$2,609$2,251$1,936$1,662$1,030
15 years$2,784$2,383$2,032$1,727$1,463$870
16 years$2,583$2,186$1,842$1,546$1,293$737
17 years$2,406$2,013$1,676$1,389$1,147$626
18 years$2,248$1,861$1,530$1,252$1,020$533
19 years$2,108$1,724$1,401$1,131$909$455
20 years$1,981$1,602$1,286$1,025$812$388
21 years$1,867$1,493$1,183$930$726$332
22 years$1,764$1,393$1,090$845$651$284
23 years$1,669$1,303$1,006$770$584$243
24 years$1,583$1,221$931$702$525$209
25 years$1,503$1,146$862$641$473$179
26 years$1,430$1,077$800$586$426$154
27 years$1,362$1,013$742$537$384$132
28 years$1,299$955$690$492$346$113
29 years$1,241$901$642$451$313$97
30 years$1,187$851$598$414$283$84
31 years$1,136$804$558$380$256$72
32 years$1,089$761$520$349$231$62
33 years$1,044$721$486$321$209$53
34 years$1,002$683$454$296$189$46
35 years$963$648$424$272$172$39
36 years$926$615$397$251$155$34
37 years$891$584$372$231$141$29
38 years$858$555$348$213$128$25
39 years$827$528$326$196$116$22
40 years$797$502$306$181$105$19
41 years$769$478$287$167$95$16
42 years$742$455$269$154$86$14
43 years$717$434$252$142$78$12
44 years$693$413$237$131$71$10
45 years$670$394$222$121$65$9
46 years$648$376$209$112$59$8
47 years$627$359$196$104$53$7
48 years$607$343$184$96$48$6
49 years$588$327$173$88$44$5
50 years$569$313$163$82$40$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $583,000, adding $5,087 every year, while hoping to spend $48,727 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: 67/13/20 Blend
67$583,000$583,000$583,000$583,000
68$647,713$616,814$607,778$687,548
69$661,935$595,193$576,293$693,240
70$675,974$570,879$542,121$693,359
71$689,760$543,689$505,119$692,320
72$703,216$513,430$465,140$690,005
73$716,251$479,895$422,029$686,291
74$728,767$442,868$375,626$681,042
75$740,652$402,120$325,760$674,109
76$751,783$357,408$272,257$665,331
77$762,020$308,476$214,933$654,532
78$771,208$255,053$153,595$641,523
79$779,174$196,854$88,044$626,094
80$785,726$133,576$18,070$608,020
81$790,649$64,900$0$587,054
82$793,705$0$0$575,006
83$794,628$0$0$565,764
84$793,124$0$0$563,994
85$788,867$0$0$560,170
86$781,493$0$0$554,024
87$770,600$0$0$545,257
88$755,741$0$0$533,539
89$736,423$0$0$518,506
90$712,098$0$0$499,751
91$682,160$0$0$476,827
92$645,936$0$0$449,236
93$602,686$0$0$416,430
94$551,585$0$0$377,801
95$491,727$0$0$332,677
96$422,105$0$0$280,316
97$341,608$0$0$219,895
98$249,009$0$0$150,507
99$142,951$0$0$71,149
100$21,933$0$0$0