Can I retire at age 68 with 1,040,000?

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 $1,040,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$85,882$85,117$84,371$83,642$82,931$82,031
2 years$42,516$41,724$40,957$40,213$39,491$38,585
3 years$28,062$27,267$26,502$25,765$25,055$24,170
4 years$20,837$20,044$19,286$18,562$17,869$17,014
5 years$16,503$15,715$14,967$14,257$13,584$12,759
6 years$13,615$12,832$12,096$11,402$10,748$9,956
7 years$11,552$10,777$10,052$9,374$8,741$7,982
8 years$10,006$9,238$8,524$7,864$7,252$6,525
9 years$8,804$8,043$7,342$6,698$6,107$5,412
10 years$7,843$7,089$6,401$5,774$5,204$4,541
11 years$7,058$6,311$5,635$5,025$4,475$3,844
12 years$6,403$5,665$5,001$4,408$3,878$3,277
13 years$5,850$5,119$4,468$3,891$3,382$2,811
14 years$5,376$4,653$4,015$3,454$2,964$2,422
15 years$4,966$4,251$3,625$3,081$2,610$2,096
16 years$4,608$3,900$3,286$2,758$2,307$1,820
17 years$4,292$3,592$2,991$2,478$2,045$1,586
18 years$4,011$3,319$2,730$2,233$1,819$1,384
19 years$3,760$3,076$2,499$2,018$1,621$1,211
20 years$3,535$2,858$2,294$1,828$1,448$1,062
21 years$3,331$2,662$2,110$1,659$1,296$932
22 years$3,146$2,485$1,944$1,508$1,161$820
23 years$2,977$2,324$1,795$1,374$1,043$722
24 years$2,823$2,178$1,660$1,253$937$636
25 years$2,681$2,044$1,538$1,144$843$561
26 years$2,551$1,921$1,426$1,046$760$495
27 years$2,430$1,808$1,324$958$685$437
28 years$2,318$1,703$1,231$877$618$387
29 years$2,214$1,607$1,146$805$558$342
30 years$2,117$1,518$1,067$738$504$302
31 years$2,027$1,435$995$678$456$268
32 years$1,942$1,357$928$623$412$237
33 years$1,862$1,286$867$573$373$210
34 years$1,788$1,218$810$527$338$186
35 years$1,718$1,156$757$485$306$165
36 years$1,652$1,097$708$447$277$146
37 years$1,589$1,042$663$412$251$130
38 years$1,530$990$621$380$228$115
39 years$1,475$941$582$350$207$102
40 years$1,422$896$545$323$187$90
41 years$1,372$853$511$298$170$80
42 years$1,324$812$480$275$154$71
43 years$1,279$774$450$254$140$63
44 years$1,236$738$422$234$127$56
45 years$1,195$703$397$216$115$50
46 years$1,155$671$372$200$105$44
47 years$1,118$640$350$185$95$39
48 years$1,082$611$329$171$86$35
49 years$1,048$584$309$158$78$31
50 years$1,015$558$291$146$71$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $1,040,000, adding $6,219 every year, while hoping to spend $21,163 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: 60/14/26 Blend
67$1,040,000$1,040,000$1,040,000$1,040,000
68$1,152,495$1,097,375$1,081,255$1,213,242
69$1,247,532$1,128,629$1,094,960$1,286,574
70$1,351,554$1,160,705$1,108,414$1,363,734
71$1,465,454$1,193,622$1,121,588$1,447,475
72$1,590,218$1,227,396$1,134,448$1,538,442
73$1,726,928$1,262,047$1,146,961$1,637,346
74$1,876,781$1,297,593$1,159,090$1,744,970
75$2,041,090$1,334,053$1,170,797$1,862,175
76$2,221,304$1,371,444$1,182,041$1,989,911
77$2,419,019$1,409,787$1,192,782$2,129,224
78$2,635,992$1,449,099$1,202,973$2,281,268
79$2,874,158$1,489,400$1,212,567$2,447,313
80$3,135,650$1,530,709$1,221,516$2,628,757
81$3,422,816$1,573,044$1,229,767$2,827,142
82$3,738,245$1,616,424$1,237,265$3,044,168
83$4,084,785$1,660,868$1,243,953$3,281,706
84$4,465,578$1,706,395$1,249,770$3,541,820
85$4,884,082$1,753,024$1,254,653$3,826,781
86$5,344,108$1,800,772$1,258,534$4,139,095
87$5,849,856$1,849,659$1,261,343$4,481,522
88$6,405,950$1,899,701$1,263,007$4,857,103
89$7,017,487$1,950,916$1,263,448$5,269,190
90$7,690,082$2,003,323$1,262,585$5,721,475
91$8,429,922$2,056,936$1,260,333$6,218,030
92$9,243,821$2,111,774$1,256,601$6,763,339
93$10,139,291$2,167,851$1,251,298$7,362,345
94$11,124,606$2,225,182$1,244,323$8,020,495
95$12,208,882$2,283,783$1,235,575$8,743,793
96$13,402,167$2,343,667$1,224,945$9,538,852
97$14,715,527$2,404,846$1,212,320$10,412,964
98$16,161,160$2,467,333$1,197,582$11,374,163
99$17,752,504$2,531,138$1,180,607$12,431,303
100$19,504,367$2,596,271$1,161,264$13,594,140