Can I retire at age 68 with 597,000?

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 $597,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$49,300$48,861$48,432$48,014$47,606$46,991
2 years$24,406$23,951$23,511$23,084$22,669$22,051
3 years$16,109$15,652$15,213$14,790$14,382$13,780
4 years$11,961$11,506$11,071$10,655$10,258$9,675
5 years$9,473$9,021$8,592$8,184$7,798$7,237
6 years$7,815$7,366$6,943$6,545$6,170$5,632
7 years$6,631$6,186$5,770$5,381$5,018$4,502
8 years$5,744$5,303$4,893$4,514$4,163$3,670
9 years$5,054$4,617$4,215$3,845$3,506$3,035
10 years$4,502$4,070$3,674$3,314$2,987$2,539
11 years$4,051$3,623$3,235$2,885$2,569$2,142
12 years$3,676$3,252$2,871$2,530$2,226$1,821
13 years$3,358$2,939$2,565$2,234$1,941$1,557
14 years$3,086$2,671$2,305$1,983$1,702$1,337
15 years$2,851$2,440$2,081$1,768$1,498$1,153
16 years$2,645$2,239$1,887$1,583$1,324$998
17 years$2,463$2,062$1,717$1,423$1,174$866
18 years$2,302$1,905$1,567$1,282$1,044$754
19 years$2,158$1,766$1,435$1,158$931$657
20 years$2,029$1,641$1,317$1,049$831$574
21 years$1,912$1,528$1,211$952$744$502
22 years$1,806$1,427$1,116$866$667$440
23 years$1,709$1,334$1,031$788$598$386
24 years$1,621$1,250$953$719$538$338
25 years$1,539$1,173$883$657$484$297
26 years$1,464$1,103$819$601$436$261
27 years$1,395$1,038$760$550$393$230
28 years$1,331$978$707$504$355$202
29 years$1,271$922$658$462$320$178
30 years$1,215$871$613$424$289$157
31 years$1,163$824$571$389$262$139
32 years$1,115$779$533$358$237$122
33 years$1,069$738$498$329$214$108
34 years$1,026$699$465$303$194$95
35 years$986$663$435$279$176$84
36 years$948$630$407$257$159$74
37 years$912$598$381$236$144$65
38 years$879$568$356$218$131$58
39 years$847$540$334$201$119$51
40 years$816$514$313$185$108$45
41 years$787$489$293$171$98$40
42 years$760$466$275$158$89$35
43 years$734$444$258$146$80$31
44 years$709$423$242$135$73$27
45 years$686$404$228$124$66$24
46 years$663$385$214$115$60$21
47 years$642$368$201$106$55$19
48 years$621$351$189$98$50$17
49 years$602$335$177$91$45$15
50 years$583$320$167$84$41$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $597,000, adding $3,987 every year, while hoping to spend $32,916 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$597,000$597,000$597,000$597,000
68$662,007$630,366$621,112$681,814
69$694,509$626,231$606,897$692,576
70$729,223$620,791$591,102$700,901
71$766,340$613,946$573,641$709,287
72$806,070$605,592$554,420$717,762
73$848,641$595,618$533,345$726,360
74$894,305$583,906$510,316$735,117
75$943,339$570,332$485,226$744,082
76$996,046$554,765$457,967$753,306
77$1,052,757$537,063$428,424$762,853
78$1,113,840$517,081$396,477$772,794
79$1,179,695$494,661$362,002$783,212
80$1,250,762$469,637$324,868$794,202
81$1,327,527$441,837$284,938$805,874
82$1,410,520$411,073$242,069$818,352
83$1,500,329$377,151$196,114$831,777
84$1,597,594$339,863$146,916$846,311
85$1,703,024$298,992$94,313$862,137
86$1,817,396$254,306$38,136$879,460
87$1,941,565$205,561$0$898,515
88$2,076,471$152,500$0$926,548
89$2,223,149$94,850$0$970,352
90$2,382,736$32,324$0$1,018,104
91$2,556,486$0$0$1,070,243
92$2,745,775$0$0$1,139,324
93$2,952,120$0$0$1,226,724
94$3,177,190$0$0$1,322,130
95$3,422,822$0$0$1,426,332
96$3,691,038$0$0$1,540,196
97$3,984,063$0$0$1,664,679
98$4,304,347$0$0$1,800,832
99$4,654,589$0$0$1,949,812
100$5,037,757$0$0$2,112,896