Can I retire at age 68 with 1,030,000?

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 $1,030,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$85,056$84,299$83,560$82,838$82,134$81,514
2 years$42,107$41,323$40,563$39,826$39,111$38,486
3 years$27,793$27,005$26,247$25,517$24,814$24,203
4 years$20,637$19,852$19,101$18,384$17,697$17,106
5 years$16,344$15,564$14,823$14,120$13,453$12,882
6 years$13,484$12,709$11,979$11,292$10,645$10,095
7 years$11,441$10,673$9,955$9,284$8,657$8,129
8 years$9,910$9,149$8,443$7,788$7,182$6,676
9 years$8,720$7,966$7,272$6,634$6,048$5,564
10 years$7,768$7,021$6,339$5,718$5,154$4,690
11 years$6,990$6,251$5,581$4,977$4,432$3,990
12 years$6,342$5,610$4,953$4,365$3,841$3,419
13 years$5,794$5,070$4,425$3,854$3,349$2,948
14 years$5,325$4,609$3,976$3,421$2,936$2,554
15 years$4,918$4,210$3,590$3,051$2,585$2,222
16 years$4,563$3,863$3,255$2,732$2,285$1,940
17 years$4,250$3,557$2,962$2,454$2,026$1,699
18 years$3,972$3,287$2,704$2,212$1,801$1,492
19 years$3,724$3,046$2,475$1,999$1,605$1,313
20 years$3,501$2,831$2,272$1,810$1,434$1,158
21 years$3,299$2,637$2,089$1,643$1,283$1,023
22 years$3,116$2,461$1,926$1,494$1,150$905
23 years$2,949$2,302$1,778$1,360$1,033$801
24 years$2,796$2,157$1,644$1,241$928$710
25 years$2,655$2,024$1,523$1,133$835$630
26 years$2,526$1,902$1,413$1,036$752$560
27 years$2,407$1,790$1,312$948$678$498
28 years$2,296$1,687$1,219$869$612$443
29 years$2,193$1,592$1,135$797$553$394
30 years$2,097$1,503$1,057$731$499$351
31 years$2,007$1,421$985$672$451$313
32 years$1,923$1,344$919$617$408$279
33 years$1,845$1,273$858$568$370$249
34 years$1,771$1,207$802$522$335$222
35 years$1,701$1,145$750$481$303$198
36 years$1,636$1,086$701$443$275$177
37 years$1,574$1,032$657$408$249$158
38 years$1,516$981$615$376$226$141
39 years$1,461$932$576$347$205$126
40 years$1,408$887$540$320$186$112
41 years$1,359$844$506$295$168$100
42 years$1,311$804$475$272$153$90
43 years$1,266$766$446$251$139$80
44 years$1,224$730$418$232$126$72
45 years$1,183$697$393$214$114$64
46 years$1,144$664$369$198$104$57
47 years$1,107$634$347$183$94$51
48 years$1,072$605$326$169$86$46
49 years$1,038$578$306$156$78$41
50 years$1,006$552$288$144$71$37

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $1,030,000, adding $5,627 every year, while hoping to spend $58,184 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: 46/35/19 Blend
67$1,030,000$1,030,000$1,030,000$1,030,000
68$1,140,864$1,086,274$1,070,309$1,186,915
69$1,195,325$1,077,594$1,044,257$1,210,989
70$1,253,391$1,066,539$1,015,382$1,230,832
71$1,315,368$1,052,931$983,529$1,251,140
72$1,381,592$1,036,580$948,533$1,271,981
73$1,452,430$1,017,289$910,225$1,293,436
74$1,528,286$994,844$868,426$1,315,596
75$1,609,602$969,023$822,949$1,338,567
76$1,696,864$939,587$773,601$1,362,470
77$1,790,603$906,286$720,175$1,387,441
78$1,891,405$868,854$662,461$1,413,640
79$1,999,911$827,010$600,236$1,441,243
80$2,116,824$780,457$533,267$1,470,454
81$2,242,921$728,879$461,311$1,501,501
82$2,379,049$671,945$384,116$1,534,645
83$2,526,144$609,303$301,416$1,570,178
84$2,685,233$540,580$212,936$1,608,429
85$2,857,444$465,386$118,386$1,649,770
86$3,044,016$383,303$17,465$1,694,620
87$3,246,316$293,895$0$1,743,446
88$3,465,842$196,697$0$1,815,068
89$3,704,244$91,222$0$1,896,751
90$3,963,337$0$0$1,985,680
91$4,245,118$0$0$2,091,543
92$4,551,781$0$0$2,245,094
93$4,885,745$0$0$2,412,425
94$5,249,669$0$0$2,594,881
95$5,646,478$0$0$2,793,943
96$6,079,394$0$0$3,011,244
97$6,551,962$0$0$3,248,576
98$7,068,085$0$0$3,507,918
99$7,632,058$0$0$3,791,444
100$8,248,613$0$0$4,101,550