Can I retire at age 68 with 701,000?

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 $701,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$57,888$57,372$56,869$56,378$55,899$55,223
2 years$28,657$28,124$27,606$27,105$26,618$25,939
3 years$18,915$18,379$17,863$17,366$16,888$16,225
4 years$14,045$13,511$13,000$12,511$12,045$11,403
5 years$11,124$10,592$10,088$9,610$9,156$8,539
6 years$9,177$8,650$8,153$7,685$7,245$6,652
7 years$7,787$7,264$6,775$6,318$5,892$5,324
8 years$6,745$6,226$5,746$5,300$4,888$4,345
9 years$5,934$5,421$4,949$4,515$4,116$3,598
10 years$5,287$4,779$4,315$3,892$3,507$3,013
11 years$4,757$4,254$3,798$3,387$3,016$2,545
12 years$4,316$3,818$3,371$2,971$2,614$2,166
13 years$3,943$3,451$3,012$2,623$2,279$1,854
14 years$3,624$3,136$2,706$2,328$1,998$1,595
15 years$3,347$2,865$2,443$2,076$1,759$1,377
16 years$3,106$2,629$2,215$1,859$1,555$1,194
17 years$2,893$2,421$2,016$1,670$1,379$1,037
18 years$2,703$2,237$1,840$1,505$1,226$904
19 years$2,534$2,073$1,685$1,360$1,093$789
20 years$2,382$1,927$1,546$1,232$976$690
21 years$2,245$1,795$1,422$1,118$873$605
22 years$2,121$1,675$1,311$1,017$783$530
23 years$2,007$1,567$1,210$926$703$466
24 years$1,903$1,468$1,119$844$632$410
25 years$1,807$1,378$1,037$771$568$360
26 years$1,719$1,295$961$705$512$317
27 years$1,638$1,219$893$645$462$280
28 years$1,562$1,148$830$591$417$247
29 years$1,492$1,083$772$542$376$218
30 years$1,427$1,023$719$498$340$192
31 years$1,366$967$671$457$307$170
32 years$1,309$915$626$420$278$150
33 years$1,255$867$584$386$252$132
34 years$1,205$821$546$355$228$117
35 years$1,158$779$510$327$206$103
36 years$1,113$739$477$301$187$91
37 years$1,071$702$447$278$169$81
38 years$1,032$667$418$256$154$72
39 years$994$635$392$236$139$63
40 years$958$604$367$218$126$56
41 years$925$575$345$201$115$50
42 years$892$547$323$185$104$44
43 years$862$522$303$171$94$39
44 years$833$497$285$158$86$34
45 years$805$474$267$146$78$30
46 years$779$452$251$135$71$27
47 years$754$432$236$124$64$24
48 years$729$412$222$115$58$21
49 years$706$393$208$106$53$19
50 years$684$376$196$98$48$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $701,000, adding $5,712 every year, while hoping to spend $30,754 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: 37/36/27 Blend
67$701,000$701,000$701,000$701,000
68$778,394$741,241$730,375$800,733
69$825,068$744,840$722,121$821,307
70$875,472$747,584$712,559$840,293
71$929,954$749,400$701,614$860,208
72$988,897$750,208$689,205$881,154
73$1,052,721$749,924$675,250$903,249
74$1,121,887$748,459$659,660$926,623
75$1,196,906$745,719$642,344$951,422
76$1,278,334$741,604$623,207$977,809
77$1,366,787$736,006$602,147$1,005,967
78$1,462,942$728,812$579,062$1,036,100
79$1,567,542$719,904$553,840$1,068,435
80$1,681,405$709,153$526,368$1,103,226
81$1,805,433$696,426$496,525$1,140,757
82$1,940,616$681,580$464,188$1,181,343
83$2,088,045$664,463$429,224$1,225,335
84$2,248,921$644,917$391,499$1,273,124
85$2,424,564$622,772$350,868$1,325,146
86$2,616,431$597,849$307,182$1,381,884
87$2,826,121$569,958$260,288$1,443,877
88$3,055,398$538,899$210,020$1,511,723
89$3,306,204$504,460$156,211$1,586,086
90$3,580,675$466,417$98,682$1,667,702
91$3,881,166$424,533$37,250$1,757,392
92$4,210,267$378,557$0$1,856,063
93$4,570,832$328,225$0$1,972,879
94$4,966,006$273,257$0$2,112,783
95$5,399,250$213,357$0$2,266,333
96$5,874,375$148,214$0$2,434,964
97$6,395,582$77,497$0$2,620,265
98$6,967,496$859$0$2,823,988
99$7,595,212$0$0$3,048,072
100$8,284,341$0$0$3,327,170