Can I retire at age 68 with 1,080,000?

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 $1,080,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.8%
1 years$89,185$88,391$87,616$86,859$86,121$84,416
2 years$44,151$43,329$42,532$41,759$41,010$39,300
3 years$29,142$28,316$27,521$26,756$26,018$24,356
4 years$21,638$20,815$20,028$19,276$18,557$16,955
5 years$17,138$16,319$15,543$14,806$14,106$12,570
6 years$14,138$13,326$12,561$11,840$11,162$9,692
7 years$11,997$11,191$10,438$9,735$9,078$7,675
8 years$10,391$9,593$8,852$8,166$7,531$6,195
9 years$9,143$8,352$7,625$6,956$6,342$5,072
10 years$8,145$7,362$6,647$5,996$5,404$4,198
11 years$7,329$6,554$5,852$5,218$4,647$3,505
12 years$6,650$5,883$5,194$4,577$4,027$2,947
13 years$6,075$5,316$4,640$4,041$3,512$2,491
14 years$5,583$4,832$4,169$3,587$3,078$2,116
15 years$5,157$4,414$3,764$3,199$2,711$1,804
16 years$4,785$4,050$3,413$2,864$2,396$1,542
17 years$4,457$3,730$3,106$2,574$2,124$1,322
18 years$4,165$3,447$2,835$2,319$1,889$1,136
19 years$3,905$3,194$2,595$2,096$1,683$978
20 years$3,671$2,968$2,382$1,898$1,504$844
21 years$3,459$2,765$2,191$1,723$1,346$729
22 years$3,267$2,581$2,019$1,566$1,206$630
23 years$3,092$2,414$1,864$1,426$1,083$545
24 years$2,932$2,262$1,724$1,301$973$472
25 years$2,784$2,122$1,597$1,188$876$409
26 years$2,649$1,995$1,481$1,086$789$355
27 years$2,523$1,877$1,375$994$711$308
28 years$2,407$1,769$1,279$911$642$268
29 years$2,299$1,669$1,190$835$579$232
30 years$2,198$1,576$1,108$767$524$202
31 years$2,104$1,490$1,033$704$473$176
32 years$2,017$1,410$964$647$428$153
33 years$1,934$1,335$900$595$387$133
34 years$1,857$1,265$841$548$351$116
35 years$1,784$1,200$786$504$318$101
36 years$1,715$1,139$736$464$288$87
37 years$1,651$1,082$688$428$261$76
38 years$1,589$1,028$645$394$237$66
39 years$1,531$978$604$364$215$58
40 years$1,477$930$566$335$195$50
41 years$1,424$885$531$309$177$44
42 years$1,375$843$498$285$160$38
43 years$1,328$803$467$264$145$33
44 years$1,283$766$439$243$132$29
45 years$1,241$730$412$225$120$25
46 years$1,200$697$387$208$109$22
47 years$1,161$665$363$192$99$19
48 years$1,124$635$341$177$90$17
49 years$1,088$606$321$164$81$14
50 years$1,054$579$302$151$74$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $1,080,000, adding $2,585 every year, while hoping to spend $30,675 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: 82/9/9 Blend
67$1,080,000$1,080,000$1,080,000$1,080,000
68$1,192,826$1,135,586$1,118,846$1,288,923
69$1,281,857$1,158,592$1,123,690$1,375,212
70$1,378,940$1,181,697$1,127,667$1,465,585
71$1,484,865$1,204,874$1,130,718$1,563,872
72$1,600,501$1,228,092$1,132,776$1,670,848
73$1,726,804$1,251,320$1,133,776$1,787,369
74$1,864,825$1,274,522$1,133,644$1,914,375
75$2,015,724$1,297,660$1,132,308$2,052,903
76$2,180,776$1,320,694$1,129,689$2,204,094
77$2,361,386$1,343,579$1,125,705$2,369,207
78$2,559,101$1,366,268$1,120,269$2,549,627
79$2,775,624$1,388,709$1,113,293$2,746,879
80$3,012,830$1,410,849$1,104,680$2,962,644
81$3,272,785$1,432,627$1,094,333$3,198,775
82$3,557,764$1,453,980$1,082,148$3,457,312
83$3,870,272$1,474,841$1,068,016$3,740,502
84$4,213,068$1,495,137$1,051,824$4,050,821
85$4,589,193$1,514,791$1,033,452$4,390,998
86$5,001,994$1,533,719$1,012,775$4,764,039
87$5,455,159$1,551,832$989,665$5,173,256
88$5,952,750$1,569,037$963,983$5,622,298
89$6,499,241$1,585,231$935,588$6,115,186
90$7,099,564$1,600,307$904,330$6,656,352
91$7,759,147$1,614,149$870,053$7,250,675
92$8,483,973$1,626,636$832,593$7,903,538
93$9,280,634$1,637,637$791,780$8,620,866
94$10,156,390$1,647,013$747,436$9,409,192
95$11,119,241$1,654,615$699,375$10,275,713
96$12,178,000$1,660,288$647,400$11,228,360
97$13,342,377$1,663,863$591,309$12,275,875
98$14,623,071$1,665,164$530,889$13,427,887
99$16,031,868$1,664,001$465,918$14,695,009
100$17,581,756$1,660,174$396,163$16,088,937