Can I retire at age 68 with 695,000?

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 $695,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$57,392$56,881$56,382$55,896$55,420$55,048
2 years$28,412$27,883$27,370$26,873$26,391$26,015
3 years$18,753$18,222$17,710$17,218$16,743$16,376
4 years$13,925$13,395$12,889$12,404$11,941$11,586
5 years$11,028$10,502$10,002$9,528$9,078$8,734
6 years$9,098$8,576$8,083$7,619$7,183$6,852
7 years$7,720$7,202$6,717$6,264$5,842$5,524
8 years$6,687$6,173$5,697$5,255$4,846$4,541
9 years$5,884$5,375$4,907$4,476$4,081$3,789
10 years$5,241$4,738$4,278$3,858$3,477$3,198
11 years$4,716$4,218$3,766$3,358$2,991$2,724
12 years$4,279$3,786$3,342$2,945$2,592$2,337
13 years$3,909$3,421$2,986$2,600$2,260$2,017
14 years$3,593$3,110$2,683$2,308$1,981$1,750
15 years$3,319$2,841$2,422$2,059$1,744$1,525
16 years$3,079$2,606$2,196$1,843$1,542$1,333
17 years$2,868$2,400$1,998$1,656$1,367$1,169
18 years$2,680$2,218$1,824$1,493$1,215$1,028
19 years$2,513$2,056$1,670$1,349$1,083$906
20 years$2,362$1,910$1,533$1,221$968$800
21 years$2,226$1,779$1,410$1,109$866$708
22 years$2,102$1,661$1,299$1,008$776$627
23 years$1,990$1,553$1,200$918$697$556
24 years$1,887$1,455$1,110$837$626$494
25 years$1,792$1,366$1,028$765$564$439
26 years$1,705$1,284$953$699$508$391
27 years$1,624$1,208$885$640$458$348
28 years$1,549$1,138$823$586$413$310
29 years$1,479$1,074$766$538$373$276
30 years$1,415$1,014$713$493$337$246
31 years$1,354$959$665$453$305$220
32 years$1,298$907$620$416$276$196
33 years$1,245$859$579$383$249$175
34 years$1,195$814$541$352$226$157
35 years$1,148$772$506$324$204$140
36 years$1,104$733$473$299$185$125
37 years$1,062$696$443$275$168$112
38 years$1,023$662$415$254$152$100
39 years$985$629$389$234$138$90
40 years$950$599$364$216$125$80
41 years$917$570$342$199$114$72
42 years$885$543$320$184$103$64
43 years$855$517$301$170$94$57
44 years$826$493$282$157$85$51
45 years$798$470$265$145$77$46
46 years$772$448$249$134$70$41
47 years$747$428$234$123$64$37
48 years$723$408$220$114$58$33
49 years$700$390$207$105$52$30
50 years$679$373$194$97$48$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $695,000, adding $5,882 every year, while hoping to spend $28,983 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: 48/23/29 Blend
67$695,000$695,000$695,000$695,000
68$771,957$735,122$724,350$802,372
69$819,859$740,306$717,778$829,572
70$871,676$744,771$710,014$855,799
71$927,776$748,454$700,989$883,728
72$988,564$751,284$690,627$913,532
73$1,054,487$753,186$678,853$945,407
74$1,126,034$754,082$665,584$979,569
75$1,203,745$753,887$650,736$1,016,257
76$1,288,212$752,513$634,221$1,055,737
77$1,380,088$749,864$615,946$1,098,304
78$1,480,091$745,841$595,813$1,144,283
79$1,589,009$740,336$573,722$1,194,038
80$1,707,713$733,237$549,566$1,247,967
81$1,837,158$724,424$523,235$1,306,516
82$1,978,397$713,770$494,612$1,370,175
83$2,132,588$701,140$463,577$1,439,489
84$2,301,008$686,391$430,003$1,515,060
85$2,485,059$669,373$393,756$1,597,554
86$2,686,289$649,926$354,701$1,687,710
87$2,906,398$627,880$312,691$1,786,344
88$3,147,260$603,056$267,576$1,894,359
89$3,410,940$575,265$219,198$2,012,752
90$3,699,708$544,305$167,394$2,142,630
91$4,016,068$509,966$111,991$2,285,211
92$4,362,774$472,021$52,811$2,441,848
93$4,742,862$430,236$0$2,614,030
94$5,159,675$384,358$0$2,806,610
95$5,616,893$334,122$0$3,035,855
96$6,118,572$279,250$0$3,287,484
97$6,669,177$219,445$0$3,563,788
98$7,273,630$154,394$0$3,867,292
99$7,937,349$83,768$0$4,200,785
100$8,666,304$7,218$0$4,567,338