Can I retire at age 68 with 1,120,000?

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 $1,120,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$92,489$91,665$90,861$90,076$89,310$88,414
2 years$45,786$44,934$44,107$43,306$42,529$41,626
3 years$30,221$29,365$28,540$27,747$26,982$26,101
4 years$22,440$21,586$20,770$19,990$19,244$18,391
5 years$17,772$16,924$16,118$15,354$14,629$13,807
6 years$14,662$13,820$13,026$12,279$11,575$10,785
7 years$12,441$11,606$10,825$10,095$9,414$8,656
8 years$10,776$9,948$9,180$8,469$7,810$7,084
9 years$9,482$8,662$7,907$7,213$6,577$5,883
10 years$8,447$7,635$6,893$6,218$5,604$4,942
11 years$7,601$6,797$6,069$5,411$4,819$4,188
12 years$6,896$6,100$5,386$4,747$4,176$3,575
13 years$6,300$5,513$4,812$4,191$3,642$3,071
14 years$5,790$5,011$4,324$3,720$3,193$2,650
15 years$5,348$4,578$3,904$3,317$2,811$2,296
16 years$4,962$4,200$3,539$2,970$2,484$1,997
17 years$4,622$3,868$3,221$2,669$2,203$1,742
18 years$4,319$3,574$2,940$2,405$1,959$1,523
19 years$4,049$3,313$2,691$2,173$1,746$1,334
20 years$3,807$3,078$2,470$1,968$1,559$1,171
21 years$3,587$2,867$2,272$1,786$1,395$1,030
22 years$3,388$2,677$2,094$1,624$1,251$907
23 years$3,206$2,503$1,933$1,479$1,123$800
24 years$3,040$2,345$1,788$1,349$1,009$706
25 years$2,888$2,201$1,656$1,232$908$623
26 years$2,747$2,069$1,536$1,127$818$551
27 years$2,617$1,947$1,426$1,031$737$488
28 years$2,496$1,834$1,326$945$665$432
29 years$2,384$1,731$1,234$866$601$382
30 years$2,280$1,634$1,149$795$543$339
31 years$2,182$1,545$1,071$730$491$301
32 years$2,091$1,462$1,000$671$444$267
33 years$2,006$1,384$933$617$402$237
34 years$1,925$1,312$872$568$364$210
35 years$1,850$1,245$815$523$330$186
36 years$1,779$1,181$763$481$299$166
37 years$1,712$1,122$714$444$271$147
38 years$1,648$1,066$669$409$245$131
39 years$1,588$1,014$626$377$222$116
40 years$1,531$965$587$348$202$103
41 years$1,477$918$551$321$183$92
42 years$1,426$874$516$296$166$81
43 years$1,377$833$485$273$151$72
44 years$1,331$794$455$252$137$64
45 years$1,286$757$427$233$124$57
46 years$1,244$723$401$215$113$51
47 years$1,204$689$377$199$102$45
48 years$1,166$658$354$184$93$40
49 years$1,129$629$333$170$84$36
50 years$1,094$600$313$157$77$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $1,120,000, adding $5,635 every year, while hoping to spend $59,464 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: 77/8/15 Blend
67$1,120,000$1,120,000$1,120,000$1,120,000
68$1,240,053$1,180,693$1,163,333$1,331,155
69$1,303,269$1,175,277$1,139,035$1,386,619
70$1,370,940$1,167,604$1,111,930$1,439,369
71$1,443,458$1,157,498$1,081,862$1,495,574
72$1,521,252$1,144,777$1,048,666$1,555,557
73$1,604,794$1,129,245$1,012,170$1,619,676
74$1,694,601$1,110,696$972,196$1,688,324
75$1,791,241$1,088,911$928,555$1,761,937
76$1,895,337$1,063,658$881,052$1,840,994
77$2,007,576$1,034,691$829,481$1,926,024
78$2,128,708$1,001,751$773,629$2,017,610
79$2,259,561$964,561$713,270$2,116,397
80$2,401,044$922,832$648,172$2,223,094
81$2,554,154$876,255$578,090$2,338,487
82$2,719,991$824,504$502,768$2,463,439
83$2,899,760$767,235$421,941$2,598,904
84$3,094,788$704,082$335,329$2,745,937
85$3,306,536$634,662$242,643$2,905,696
86$3,536,609$558,567$143,577$3,079,465
87$3,786,773$475,366$37,817$3,268,657
88$4,058,971$384,606$0$3,474,831
89$4,355,340$285,806$0$3,711,719
90$4,678,233$178,458$0$3,976,448
91$5,030,238$62,028$0$4,265,109
92$5,414,205$0$0$4,580,074
93$5,833,269$0$0$4,929,590
94$6,290,882$0$0$5,317,258
95$6,790,845$0$0$5,740,840
96$7,337,340$0$0$6,203,887
97$7,934,973$0$0$6,710,305
98$8,588,815$0$0$7,264,397
99$9,304,450$0$0$7,870,900
100$10,088,027$0$0$8,535,031