Can I retire at age 68 with 622,000?

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 $622,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.2%
1 years$51,364$50,907$50,460$50,025$49,599$47,954
2 years$25,428$24,954$24,495$24,050$23,619$21,977
3 years$16,783$16,308$15,850$15,409$14,985$13,398
4 years$12,462$11,988$11,535$11,101$10,687$9,168
5 years$9,870$9,399$8,951$8,527$8,124$6,677
6 years$8,143$7,675$7,234$6,819$6,428$5,053
7 years$6,909$6,445$6,012$5,606$5,228$3,925
8 years$5,984$5,525$5,098$4,703$4,337$3,106
9 years$5,266$4,810$4,391$4,006$3,653$2,491
10 years$4,691$4,240$3,828$3,453$3,112$2,019
11 years$4,221$3,775$3,370$3,005$2,677$1,649
12 years$3,830$3,388$2,991$2,636$2,319$1,356
13 years$3,499$3,062$2,672$2,327$2,023$1,120
14 years$3,215$2,783$2,401$2,066$1,773$929
15 years$2,970$2,542$2,168$1,842$1,561$774
16 years$2,756$2,333$1,966$1,650$1,380$646
17 years$2,567$2,148$1,789$1,482$1,223$540
18 years$2,399$1,985$1,633$1,336$1,088$453
19 years$2,249$1,840$1,495$1,207$970$380
20 years$2,114$1,710$1,372$1,093$866$319
21 years$1,992$1,592$1,262$992$775$269
22 years$1,882$1,486$1,163$902$695$226
23 years$1,781$1,390$1,074$822$624$191
24 years$1,688$1,303$993$749$560$161
25 years$1,604$1,222$920$684$504$136
26 years$1,525$1,149$853$626$454$114
27 years$1,453$1,081$792$573$410$97
28 years$1,386$1,019$736$525$370$82
29 years$1,324$961$685$481$334$69
30 years$1,266$908$638$442$302$58
31 years$1,212$858$595$406$273$49
32 years$1,161$812$555$373$247$42
33 years$1,114$769$518$343$223$35
34 years$1,069$729$484$315$202$30
35 years$1,027$691$453$290$183$25
36 years$988$656$424$267$166$21
37 years$951$623$396$246$150$18
38 years$915$592$371$227$136$15
39 years$882$563$348$209$124$13
40 years$850$536$326$193$112$11
41 years$820$510$306$178$102$9
42 years$792$486$287$164$92$8
43 years$765$463$269$152$84$7
44 years$739$441$253$140$76$6
45 years$714$421$237$129$69$5
46 years$691$401$223$120$63$4
47 years$669$383$209$110$57$3
48 years$647$366$197$102$52$3
49 years$627$349$185$94$47$2
50 years$607$333$174$87$43$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $622,000, adding $6,199 every year, while hoping to spend $28,994 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: 41/36/23 Blend
67$622,000$622,000$622,000$622,000
68$691,838$658,872$649,231$715,299
69$731,556$660,308$640,131$734,125
70$774,354$660,842$629,754$751,262
71$820,515$660,399$618,028$769,231
72$870,350$658,901$604,874$788,125
73$924,201$656,264$590,213$808,046
74$982,446$652,396$573,961$829,113
75$1,045,496$647,205$556,030$851,454
76$1,113,808$640,589$536,328$875,215
77$1,187,879$632,441$514,758$900,559
78$1,268,261$622,648$491,221$927,667
79$1,355,557$611,091$465,610$956,743
80$1,450,432$597,643$437,816$988,013
81$1,553,617$582,169$407,724$1,021,730
82$1,665,918$564,527$375,214$1,058,174
83$1,788,218$544,565$340,161$1,097,659
84$1,921,493$522,126$302,433$1,140,534
85$2,066,815$497,040$261,894$1,187,188
86$2,225,364$469,128$218,401$1,238,051
87$2,398,438$438,203$171,805$1,293,605
88$2,587,468$404,063$121,949$1,354,383
89$2,794,027$366,500$68,672$1,420,978
90$3,019,847$325,288$11,802$1,494,049
91$3,266,838$280,194$0$1,574,326
92$3,537,099$230,967$0$1,674,618
93$3,832,944$177,345$0$1,787,699
94$4,156,920$119,050$0$1,911,714
95$4,511,830$55,788$0$2,047,820
96$4,900,765$0$0$2,197,294
97$5,327,127$0$0$2,366,602
98$5,794,662$0$0$2,576,574
99$6,307,496$0$0$2,806,974
100$6,870,176$0$0$3,059,853