Can I retire at age 68 with 591,000?

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 $591,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$48,804$48,370$47,945$47,531$47,127$45,821
2 years$24,161$23,711$23,274$22,852$22,442$21,135
3 years$15,947$15,495$15,060$14,641$14,238$12,972
4 years$11,841$11,391$10,960$10,548$10,155$8,940
5 years$9,378$8,930$8,505$8,102$7,719$6,558
6 years$7,737$7,292$6,874$6,479$6,108$5,002
7 years$6,565$6,124$5,712$5,327$4,967$3,916
8 years$5,686$5,249$4,844$4,469$4,121$3,124
9 years$5,003$4,571$4,172$3,806$3,470$2,528
10 years$4,457$4,029$3,638$3,281$2,957$2,066
11 years$4,011$3,587$3,202$2,856$2,543$1,703
12 years$3,639$3,219$2,842$2,505$2,204$1,413
13 years$3,324$2,909$2,539$2,211$1,922$1,179
14 years$3,055$2,644$2,281$1,963$1,685$988
15 years$2,822$2,416$2,060$1,751$1,483$830
16 years$2,618$2,216$1,868$1,567$1,311$700
17 years$2,439$2,041$1,699$1,408$1,162$592
18 years$2,279$1,886$1,551$1,269$1,034$501
19 years$2,137$1,748$1,420$1,147$921$425
20 years$2,009$1,624$1,303$1,039$823$361
21 years$1,893$1,513$1,199$943$736$307
22 years$1,788$1,412$1,105$857$660$261
23 years$1,692$1,321$1,020$781$592$223
24 years$1,604$1,238$944$712$533$190
25 years$1,524$1,161$874$650$479$162
26 years$1,449$1,092$810$594$432$138
27 years$1,381$1,027$753$544$389$118
28 years$1,317$968$700$499$351$101
29 years$1,258$913$651$457$317$86
30 years$1,203$862$606$420$286$74
31 years$1,152$815$565$385$259$63
32 years$1,103$771$528$354$234$54
33 years$1,058$731$493$326$212$46
34 years$1,016$692$460$300$192$39
35 years$976$657$430$276$174$34
36 years$939$623$402$254$158$29
37 years$903$592$377$234$143$25
38 years$870$563$353$216$129$21
39 years$838$535$331$199$117$18
40 years$808$509$310$183$106$15
41 years$779$485$290$169$97$13
42 years$752$461$272$156$88$11
43 years$727$440$256$144$80$10
44 years$702$419$240$133$72$8
45 years$679$400$225$123$66$7
46 years$657$381$212$114$60$6
47 years$635$364$199$105$54$5
48 years$615$347$187$97$49$4
49 years$596$332$176$90$45$4
50 years$577$317$165$83$40$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $591,000, adding $5,104 every year, while hoping to spend $44,830 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: 53/27/20 Blend
67$591,000$591,000$591,000$591,000
68$656,547$625,224$616,063$687,496
69$675,816$608,161$589,003$692,242
70$695,548$588,760$559,533$692,292
71$715,742$566,858$527,526$691,382
72$736,398$542,284$492,848$689,437
73$757,512$514,857$455,360$686,374
74$779,079$484,385$414,915$682,105
75$801,090$450,666$371,360$676,538
76$823,538$413,484$324,537$669,573
77$846,407$372,614$274,278$661,104
78$869,684$327,816$220,409$651,019
79$893,349$278,836$162,750$639,197
80$917,379$225,407$101,111$625,510
81$941,747$167,247$35,293$609,822
82$966,420$104,057$0$591,985
83$991,361$35,522$0$579,303
84$1,016,527$0$0$572,675
85$1,041,867$0$0$575,926
86$1,067,324$0$0$589,768
87$1,092,832$0$0$603,607
88$1,118,316$0$0$617,399
89$1,143,690$0$0$631,093
90$1,168,859$0$0$644,631
91$1,193,714$0$0$657,949
92$1,218,131$0$0$670,973
93$1,241,972$0$0$683,622
94$1,265,082$0$0$695,805
95$1,287,287$0$0$707,417
96$1,308,392$0$0$718,343
97$1,328,178$0$0$728,456
98$1,346,401$0$0$737,610
99$1,362,790$0$0$745,646
100$1,377,041$0$0$752,385