Can I retire at age 68 with 705,000?

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 $705,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.2%
1 years$58,218$57,700$57,194$56,700$56,218$54,792
2 years$28,821$28,284$27,764$27,260$26,770$25,343
3 years$19,023$18,484$17,965$17,465$16,984$15,600
4 years$14,125$13,588$13,074$12,583$12,113$10,783
5 years$11,187$10,653$10,146$9,665$9,208$7,936
6 years$9,229$8,699$8,199$7,729$7,286$6,073
7 years$7,831$7,305$6,814$6,354$5,926$4,771
8 years$6,783$6,262$5,779$5,331$4,916$3,820
9 years$5,968$5,452$4,977$4,541$4,140$3,101
10 years$5,317$4,806$4,339$3,914$3,527$2,545
11 years$4,784$4,278$3,820$3,406$3,034$2,106
12 years$4,341$3,840$3,390$2,988$2,629$1,754
13 years$3,966$3,470$3,029$2,638$2,292$1,469
14 years$3,645$3,154$2,722$2,342$2,010$1,236
15 years$3,366$2,882$2,457$2,088$1,769$1,043
16 years$3,123$2,644$2,228$1,870$1,564$883
17 years$2,909$2,435$2,027$1,680$1,387$750
18 years$2,719$2,250$1,851$1,514$1,233$638
19 years$2,549$2,085$1,694$1,368$1,099$543
20 years$2,396$1,938$1,555$1,239$982$464
21 years$2,258$1,805$1,430$1,124$878$396
22 years$2,133$1,685$1,318$1,022$787$339
23 years$2,018$1,576$1,217$931$707$290
24 years$1,914$1,476$1,126$849$635$248
25 years$1,818$1,385$1,042$776$572$213
26 years$1,729$1,302$967$709$515$183
27 years$1,647$1,225$898$649$464$157
28 years$1,571$1,155$835$595$419$135
29 years$1,501$1,089$777$545$378$116
30 years$1,435$1,029$723$501$342$99
31 years$1,374$973$674$460$309$85
32 years$1,316$920$629$422$279$73
33 years$1,263$871$588$388$253$63
34 years$1,212$826$549$357$229$54
35 years$1,164$783$513$329$207$47
36 years$1,120$744$480$303$188$40
37 years$1,077$706$449$279$170$34
38 years$1,037$671$421$257$154$30
39 years$1,000$638$394$237$140$25
40 years$964$607$370$219$127$22
41 years$930$578$347$202$115$19
42 years$898$550$325$186$105$16
43 years$867$524$305$172$95$14
44 years$838$500$286$159$86$12
45 years$810$477$269$147$78$10
46 years$783$455$253$136$71$9
47 years$758$434$237$125$64$8
48 years$734$414$223$116$59$7
49 years$710$396$210$107$53$6
50 years$688$378$197$99$48$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $705,000, adding $6,216 every year, while hoping to spend $23,967 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: 46/40/14 Blend
67$705,000$705,000$705,000$705,000
68$783,322$745,957$735,029$815,980
69$837,720$757,008$734,152$850,338
70$896,863$767,797$732,442$884,656
71$961,211$778,287$729,846$921,360
72$1,031,267$788,436$726,309$960,680
73$1,107,588$798,200$721,772$1,002,872
74$1,190,783$807,534$716,173$1,048,217
75$1,281,527$816,387$709,448$1,097,025
76$1,380,559$824,706$701,531$1,149,640
77$1,488,694$832,435$692,351$1,206,442
78$1,606,830$839,513$681,833$1,267,849
79$1,735,953$845,876$669,901$1,334,323
80$1,877,152$851,455$656,474$1,406,376
81$2,031,623$856,178$641,468$1,484,571
82$2,200,685$859,967$624,793$1,569,532
83$2,385,789$862,739$606,358$1,661,947
84$2,588,533$864,408$586,065$1,762,574
85$2,810,678$864,878$563,813$1,872,253
86$3,054,163$864,053$539,496$1,991,909
87$3,321,122$861,826$513,004$2,122,565
88$3,613,907$858,086$484,220$2,265,350
89$3,935,109$852,715$453,024$2,421,509
90$4,287,579$845,587$419,290$2,592,418
91$4,674,460$836,569$382,884$2,779,594
92$5,099,214$825,521$343,670$2,984,713
93$5,565,654$812,291$301,503$3,209,625
94$6,077,979$796,722$256,232$3,456,371
95$6,640,818$778,646$207,700$3,727,203
96$7,259,267$757,885$155,744$4,024,606
97$7,938,942$734,252$100,191$4,351,325
98$8,686,030$707,545$40,863$4,710,385
99$9,507,346$677,556$0$5,105,126
100$10,410,399$644,061$0$5,542,587