Can I retire at age 68 with 1,000,000?

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 $1,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.7%
1 years$82,579$81,843$81,126$80,425$79,741$77,251
2 years$40,881$40,119$39,381$38,666$37,972$35,485
3 years$26,983$26,218$25,482$24,774$24,091$21,685
4 years$20,036$19,273$18,545$17,848$17,182$14,876
5 years$15,868$15,111$14,391$13,709$13,061$10,862
6 years$13,091$12,339$11,630$10,963$10,335$8,244
7 years$11,108$10,362$9,665$9,013$8,405$6,422
8 years$9,621$8,882$8,197$7,561$6,973$5,096
9 years$8,466$7,734$7,060$6,440$5,872$4,100
10 years$7,542$6,817$6,155$5,552$5,003$3,333
11 years$6,786$6,069$5,419$4,832$4,303$2,732
12 years$6,157$5,447$4,809$4,238$3,729$2,253
13 years$5,625$4,922$4,296$3,742$3,252$1,868
14 years$5,170$4,474$3,860$3,321$2,850$1,555
15 years$4,775$4,087$3,485$2,962$2,510$1,299
16 years$4,430$3,750$3,160$2,652$2,218$1,088
17 years$4,126$3,454$2,875$2,383$1,967$914
18 years$3,857$3,191$2,625$2,148$1,749$769
19 years$3,615$2,958$2,403$1,940$1,559$647
20 years$3,399$2,748$2,205$1,757$1,392$546
21 years$3,203$2,560$2,029$1,595$1,246$461
22 years$3,025$2,390$1,870$1,450$1,117$390
23 years$2,863$2,235$1,726$1,321$1,002$330
24 years$2,714$2,094$1,596$1,205$901$279
25 years$2,578$1,965$1,479$1,100$811$237
26 years$2,453$1,847$1,371$1,006$730$200
27 years$2,336$1,738$1,273$921$658$170
28 years$2,229$1,638$1,184$844$594$144
29 years$2,129$1,545$1,102$774$537$122
30 years$2,036$1,459$1,026$710$485$104
31 years$1,949$1,380$957$652$438$88
32 years$1,867$1,305$893$599$396$75
33 years$1,791$1,236$833$551$359$63
34 years$1,719$1,172$779$507$325$54
35 years$1,652$1,111$728$467$294$46
36 years$1,588$1,055$681$430$267$39
37 years$1,528$1,002$637$396$242$33
38 years$1,472$952$597$365$219$28
39 years$1,418$905$559$337$199$24
40 years$1,367$861$524$310$180$20
41 years$1,319$820$492$286$163$17
42 years$1,273$781$461$264$148$15
43 years$1,230$744$433$244$135$12
44 years$1,188$709$406$225$122$11
45 years$1,149$676$381$208$111$9
46 years$1,111$645$358$192$101$8
47 years$1,075$616$336$178$91$6
48 years$1,041$588$316$164$83$5
49 years$1,008$561$297$152$75$5
50 years$976$536$279$140$69$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $1,000,000, adding $4,625 every year, while hoping to spend $36,005 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: 73/7/20 Blend
67$1,000,000$1,000,000$1,000,000$1,000,000
68$1,106,771$1,053,771$1,038,271$1,181,938
69$1,181,352$1,067,096$1,034,744$1,245,830
70$1,262,334$1,079,868$1,029,892$1,311,014
71$1,350,332$1,092,021$1,023,633$1,381,508
72$1,446,021$1,103,486$1,015,880$1,457,834
73$1,550,147$1,114,188$1,006,543$1,540,567
74$1,663,527$1,124,048$995,527$1,630,339
75$1,787,062$1,132,982$982,733$1,727,849
76$1,921,745$1,140,901$968,057$1,833,867
77$2,068,666$1,147,708$951,390$1,949,241
78$2,229,026$1,153,302$932,618$2,074,905
79$2,404,148$1,157,575$911,622$2,211,893
80$2,595,487$1,160,412$888,277$2,361,339
81$2,804,645$1,161,690$862,452$2,524,498
82$3,033,386$1,161,280$834,012$2,702,750
83$3,283,653$1,159,045$802,813$2,897,620
84$3,557,584$1,154,836$768,706$3,110,785
85$3,857,534$1,148,500$731,534$3,344,097
86$4,186,098$1,139,872$691,136$3,599,597
87$4,546,130$1,128,776$647,339$3,879,534
88$4,940,777$1,115,028$599,967$4,186,389
89$5,373,503$1,098,430$548,832$4,522,895
90$5,848,122$1,078,776$493,740$4,892,067
91$6,368,839$1,055,844$434,488$5,297,227
92$6,940,281$1,029,400$370,864$5,742,038
93$7,567,547$999,199$302,646$6,230,538
94$8,256,254$964,977$229,602$6,767,180
95$9,012,589$926,458$151,490$7,356,869
96$9,843,368$883,349$68,060$8,005,015
97$10,756,098$835,339$0$8,717,581
98$11,759,051$782,102$0$9,505,617
99$12,861,338$723,289$0$10,387,682
100$14,073,000$658,535$0$11,357,287