Can I retire at age 68 with 700,000?

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 $700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$57,805$57,290$56,788$56,298$55,819$55,305
2 years$28,617$28,084$27,567$27,066$26,580$26,063
3 years$18,888$18,353$17,838$17,342$16,864$16,358
4 years$14,025$13,491$12,981$12,494$12,027$11,538
5 years$11,108$10,577$10,074$9,596$9,143$8,671
6 years$9,164$8,637$8,141$7,674$7,235$6,781
7 years$7,776$7,254$6,765$6,309$5,884$5,448
8 years$6,735$6,218$5,738$5,293$4,881$4,464
9 years$5,926$5,414$4,942$4,508$4,111$3,711
10 years$5,279$4,772$4,308$3,886$3,502$3,121
11 years$4,750$4,248$3,793$3,382$3,012$2,649
12 years$4,310$3,813$3,366$2,967$2,610$2,264
13 years$3,938$3,446$3,008$2,619$2,276$1,947
14 years$3,619$3,132$2,702$2,325$1,995$1,682
15 years$3,343$2,861$2,440$2,073$1,757$1,460
16 years$3,101$2,625$2,212$1,857$1,553$1,271
17 years$2,889$2,418$2,013$1,668$1,377$1,110
18 years$2,700$2,234$1,837$1,503$1,224$972
19 years$2,531$2,070$1,682$1,358$1,091$853
20 years$2,379$1,924$1,544$1,230$975$750
21 years$2,242$1,792$1,420$1,117$872$660
22 years$2,117$1,673$1,309$1,015$782$582
23 years$2,004$1,565$1,208$925$702$514
24 years$1,900$1,466$1,118$843$631$455
25 years$1,805$1,376$1,035$770$568$402
26 years$1,717$1,293$960$704$511$356
27 years$1,635$1,217$891$645$461$316
28 years$1,560$1,147$829$591$416$280
29 years$1,490$1,082$771$542$376$248
30 years$1,425$1,021$718$497$339$220
31 years$1,364$966$670$456$307$196
32 years$1,307$914$625$419$278$174
33 years$1,254$865$583$386$251$155
34 years$1,203$820$545$355$227$137
35 years$1,156$778$510$327$206$122
36 years$1,112$738$477$301$187$109
37 years$1,070$701$446$277$169$97
38 years$1,030$666$418$256$153$86
39 years$993$634$391$236$139$77
40 years$957$603$367$217$126$68
41 years$923$574$344$201$114$61
42 years$891$547$323$185$104$54
43 years$861$521$303$171$94$48
44 years$832$496$284$158$86$43
45 years$804$473$267$146$78$38
46 years$778$452$251$135$70$34
47 years$753$431$236$124$64$30
48 years$728$411$221$115$58$27
49 years$705$393$208$106$53$24
50 years$683$375$196$98$48$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $700,000, adding $3,056 every year, while hoping to spend $33,212 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: 57/29/14 Blend
67$700,000$700,000$700,000$700,000
68$774,552$737,452$726,602$815,757
69$818,219$738,250$715,606$844,803
70$865,227$737,974$703,128$872,527
71$915,882$736,536$689,085$901,964
72$970,519$733,843$673,386$933,284
73$1,029,507$729,797$655,940$966,676
74$1,093,252$724,292$636,649$1,002,348
75$1,162,199$717,218$615,412$1,040,532
76$1,236,838$708,456$592,123$1,081,484
77$1,317,707$697,882$566,671$1,125,488
78$1,405,398$685,363$538,939$1,172,859
79$1,500,562$670,760$508,807$1,223,946
80$1,603,915$653,922$476,148$1,279,136
81$1,716,244$634,694$440,828$1,338,855
82$1,838,416$612,909$402,711$1,403,578
83$1,971,383$588,391$361,651$1,473,829
84$2,116,195$560,953$317,497$1,550,188
85$2,274,005$530,398$270,091$1,633,297
86$2,446,083$496,517$219,269$1,723,867
87$2,633,828$459,090$164,859$1,822,684
88$2,838,777$417,884$106,680$1,930,617
89$3,062,624$372,652$44,546$2,048,629
90$3,307,234$323,135$0$2,177,783
91$3,574,659$269,055$0$2,322,506
92$3,867,159$210,124$0$2,488,161
93$4,187,223$146,034$0$2,669,555
94$4,537,590$76,459$0$2,868,311
95$4,921,277$1,059$0$3,086,219
96$5,341,607$0$0$3,325,257
97$5,802,240$0$0$3,613,304
98$6,307,204$0$0$3,929,506
99$6,860,938$0$0$4,276,311
100$7,468,331$0$0$4,656,789