Can I retire at age 68 with 1,020,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $1,020,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.7%
1 years$84,231$83,480$82,748$82,034$81,336$78,482
2 years$41,698$40,922$40,169$39,439$38,732$35,885
3 years$27,523$26,743$25,992$25,269$24,573$21,825
4 years$20,436$19,659$18,916$18,205$17,526$14,897
5 years$16,186$15,413$14,679$13,983$13,323$10,820
6 years$13,353$12,586$11,863$11,182$10,542$8,167
7 years$11,330$10,569$9,858$9,194$8,573$6,326
8 years$9,814$9,060$8,361$7,712$7,112$4,990
9 years$8,635$7,888$7,201$6,569$5,990$3,990
10 years$7,692$6,953$6,278$5,663$5,103$3,224
11 years$6,922$6,190$5,527$4,928$4,389$2,625
12 years$6,280$5,556$4,905$4,323$3,804$2,151
13 years$5,738$5,021$4,382$3,816$3,317$1,771
14 years$5,273$4,564$3,938$3,388$2,907$1,464
15 years$4,871$4,169$3,555$3,021$2,560$1,214
16 years$4,519$3,825$3,223$2,705$2,262$1,010
17 years$4,209$3,523$2,933$2,431$2,006$842
18 years$3,934$3,255$2,677$2,190$1,784$703
19 years$3,688$3,017$2,451$1,979$1,590$588
20 years$3,467$2,803$2,249$1,793$1,420$492
21 years$3,267$2,611$2,069$1,627$1,271$412
22 years$3,085$2,438$1,907$1,479$1,139$346
23 years$2,920$2,280$1,761$1,347$1,023$290
24 years$2,769$2,136$1,628$1,229$919$244
25 years$2,630$2,005$1,508$1,122$827$205
26 years$2,502$1,884$1,399$1,026$745$172
27 years$2,383$1,773$1,299$939$672$145
28 years$2,273$1,671$1,208$860$606$122
29 years$2,171$1,576$1,124$789$547$102
30 years$2,076$1,488$1,047$724$494$86
31 years$1,988$1,407$976$665$447$73
32 years$1,905$1,331$910$611$404$61
33 years$1,827$1,261$850$562$366$51
34 years$1,754$1,195$794$517$331$43
35 years$1,685$1,133$743$476$300$36
36 years$1,620$1,076$695$438$272$31
37 years$1,559$1,022$650$404$246$26
38 years$1,501$971$609$372$223$22
39 years$1,446$923$570$343$203$18
40 years$1,395$879$535$317$184$15
41 years$1,345$836$501$292$167$13
42 years$1,299$796$470$270$151$11
43 years$1,254$759$441$249$137$9
44 years$1,212$723$414$230$125$8
45 years$1,172$690$389$212$113$7
46 years$1,133$658$365$196$103$6
47 years$1,097$628$343$181$93$5
48 years$1,061$599$323$167$85$4
49 years$1,028$572$303$155$77$3
50 years$996$547$285$143$70$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $1,020,000, adding $4,614 every year, while hoping to spend $37,142 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: 57/21/22 Blend
67$1,020,000$1,020,000$1,020,000$1,020,000
68$1,128,799$1,074,739$1,058,929$1,186,206
69$1,204,418$1,087,883$1,054,885$1,239,038
70$1,286,505$1,100,425$1,049,460$1,292,224
71$1,375,681$1,112,299$1,042,569$1,349,385
72$1,472,628$1,123,429$1,034,123$1,410,913
73$1,578,098$1,133,739$1,024,027$1,477,242
74$1,692,916$1,143,144$1,012,185$1,548,850
75$1,817,992$1,151,557$998,491$1,626,265
76$1,954,327$1,158,882$982,840$1,710,071
77$2,103,020$1,165,020$965,118$1,800,911
78$2,265,286$1,169,863$945,206$1,899,497
79$2,442,456$1,173,298$922,982$2,006,614
80$2,636,001$1,175,204$898,316$2,123,127
81$2,847,536$1,175,452$871,073$2,249,994
82$3,078,842$1,173,906$841,111$2,388,270
83$3,331,877$1,170,421$808,282$2,539,121
84$3,608,801$1,164,844$772,432$2,703,834
85$3,911,989$1,157,011$733,398$2,883,828
86$4,244,057$1,146,750$691,012$3,080,670
87$4,607,887$1,133,877$645,098$3,296,091
88$5,006,653$1,118,198$595,469$3,531,998
89$5,443,848$1,099,506$541,934$3,790,499
90$5,923,322$1,077,584$484,291$4,073,916
91$6,449,316$1,052,200$422,329$4,384,814
92$7,026,497$1,023,110$355,829$4,726,023
93$7,660,011$990,053$284,560$5,100,664
94$8,355,523$952,756$208,283$5,512,183
95$9,119,274$910,929$126,749$5,964,378
96$9,958,140$864,264$39,694$6,461,440
97$10,879,693$812,437$0$7,007,996
98$11,892,279$755,103$0$7,621,634
99$13,005,089$691,900$0$8,306,247
100$14,228,248$622,444$0$9,058,784