Can I retire at age 68 with 1,060,000?

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 $1,060,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.5%
1 years$87,534$86,754$85,993$85,251$84,526$83,643
2 years$43,334$42,527$41,744$40,986$40,250$39,361
3 years$28,602$27,792$27,011$26,260$25,537$24,669
4 years$21,238$20,430$19,657$18,919$18,213$17,373
5 years$16,820$16,017$15,255$14,532$13,845$13,036
6 years$13,876$13,079$12,328$11,621$10,955$10,178
7 years$11,774$10,984$10,245$9,554$8,909$8,164
8 years$10,199$9,415$8,688$8,015$7,391$6,677
9 years$8,974$8,198$7,483$6,827$6,225$5,542
10 years$7,994$7,226$6,524$5,885$5,304$4,652
11 years$7,193$6,433$5,744$5,122$4,561$3,941
12 years$6,526$5,774$5,097$4,492$3,953$3,362
13 years$5,963$5,218$4,554$3,966$3,447$2,885
14 years$5,480$4,743$4,092$3,521$3,021$2,488
15 years$5,062$4,333$3,695$3,140$2,660$2,155
16 years$4,696$3,975$3,350$2,811$2,351$1,873
17 years$4,374$3,661$3,048$2,526$2,085$1,632
18 years$4,088$3,383$2,782$2,276$1,854$1,426
19 years$3,832$3,135$2,547$2,057$1,652$1,249
20 years$3,603$2,913$2,338$1,863$1,476$1,095
21 years$3,395$2,714$2,150$1,691$1,321$962
22 years$3,206$2,533$1,982$1,537$1,184$847
23 years$3,035$2,369$1,830$1,400$1,063$746
24 years$2,877$2,220$1,692$1,277$955$658
25 years$2,733$2,083$1,567$1,166$859$581
26 years$2,600$1,958$1,454$1,066$774$513
27 years$2,477$1,843$1,350$976$698$454
28 years$2,363$1,736$1,255$894$630$401
29 years$2,256$1,638$1,168$820$569$355
30 years$2,158$1,547$1,088$753$514$315
31 years$2,065$1,462$1,014$691$465$279
32 years$1,979$1,384$946$635$420$247
33 years$1,898$1,310$883$584$380$219
34 years$1,822$1,242$825$537$344$194
35 years$1,751$1,178$772$495$312$172
36 years$1,684$1,118$722$456$283$153
37 years$1,620$1,062$676$420$256$136
38 years$1,560$1,009$633$387$232$120
39 years$1,503$960$593$357$211$107
40 years$1,449$913$556$329$191$95
41 years$1,398$869$521$304$173$84
42 years$1,350$828$489$280$157$75
43 years$1,303$789$459$259$143$66
44 years$1,259$752$430$239$130$59
45 years$1,218$717$404$221$118$52
46 years$1,178$684$380$204$107$47
47 years$1,140$653$357$188$97$41
48 years$1,103$623$335$174$88$37
49 years$1,068$595$315$161$80$33
50 years$1,035$568$296$149$73$29

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $1,060,000, adding $5,725 every year, while hoping to spend $47,826 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: 56/14/30 Blend
67$1,060,000$1,060,000$1,060,000$1,060,000
68$1,174,025$1,117,845$1,101,415$1,229,738
69$1,242,889$1,121,733$1,087,426$1,272,673
70$1,317,175$1,124,209$1,071,366$1,314,019
71$1,397,384$1,125,152$1,053,114$1,358,119
72$1,484,069$1,124,436$1,032,545$1,405,258
73$1,577,836$1,121,926$1,009,527$1,455,749
74$1,679,353$1,117,478$983,924$1,509,940
75$1,789,353$1,110,941$955,592$1,568,217
76$1,908,642$1,102,152$924,379$1,631,008
77$2,038,107$1,090,941$890,130$1,698,785
78$2,178,724$1,077,127$852,678$1,772,074
79$2,331,564$1,060,516$811,853$1,851,454
80$2,497,808$1,040,906$767,475$1,937,569
81$2,678,754$1,018,080$719,355$2,031,130
82$2,875,832$991,811$667,298$2,132,924
83$3,090,612$961,855$611,098$2,243,823
84$3,324,825$927,956$550,540$2,364,789
85$3,580,376$889,845$485,402$2,496,891
86$3,859,360$847,233$415,449$2,641,305
87$4,164,084$799,817$340,436$2,799,337
88$4,497,090$747,277$260,109$2,972,427
89$4,861,172$689,273$174,202$3,162,169
90$5,259,410$625,445$82,436$3,370,325
91$5,695,194$555,416$0$3,598,840
92$6,172,256$478,784$0$3,854,827
93$6,694,708$395,126$0$4,164,184
94$7,267,076$303,995$0$4,503,224
95$7,894,344$204,918$0$4,874,952
96$8,582,004$97,395$0$5,282,682
97$9,336,102$0$0$5,730,069
98$10,163,298$0$0$6,224,081
99$11,070,927$0$0$6,782,689
100$12,067,071$0$0$7,395,873