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

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 $1,120,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.9%
1 years$92,489$91,665$90,861$90,076$89,310$86,107
2 years$45,786$44,934$44,107$43,306$42,529$39,336
3 years$30,221$29,365$28,540$27,747$26,982$23,901
4 years$22,440$21,586$20,770$19,990$19,244$16,297
5 years$17,772$16,924$16,118$15,354$14,629$11,824
6 years$14,662$13,820$13,026$12,279$11,575$8,915
7 years$12,441$11,606$10,825$10,095$9,414$6,897
8 years$10,776$9,948$9,180$8,469$7,810$5,435
9 years$9,482$8,662$7,907$7,213$6,577$4,341
10 years$8,447$7,635$6,893$6,218$5,604$3,502
11 years$7,601$6,797$6,069$5,411$4,819$2,848
12 years$6,896$6,100$5,386$4,747$4,176$2,330
13 years$6,300$5,513$4,812$4,191$3,642$1,916
14 years$5,790$5,011$4,324$3,720$3,193$1,582
15 years$5,348$4,578$3,904$3,317$2,811$1,310
16 years$4,962$4,200$3,539$2,970$2,484$1,088
17 years$4,622$3,868$3,221$2,669$2,203$906
18 years$4,319$3,574$2,940$2,405$1,959$755
19 years$4,049$3,313$2,691$2,173$1,746$630
20 years$3,807$3,078$2,470$1,968$1,559$527
21 years$3,587$2,867$2,272$1,786$1,395$441
22 years$3,388$2,677$2,094$1,624$1,251$369
23 years$3,206$2,503$1,933$1,479$1,123$309
24 years$3,040$2,345$1,788$1,349$1,009$259
25 years$2,888$2,201$1,656$1,232$908$218
26 years$2,747$2,069$1,536$1,127$818$183
27 years$2,617$1,947$1,426$1,031$737$153
28 years$2,496$1,834$1,326$945$665$129
29 years$2,384$1,731$1,234$866$601$108
30 years$2,280$1,634$1,149$795$543$91
31 years$2,182$1,545$1,071$730$491$76
32 years$2,091$1,462$1,000$671$444$64
33 years$2,006$1,384$933$617$402$54
34 years$1,925$1,312$872$568$364$45
35 years$1,850$1,245$815$523$330$38
36 years$1,779$1,181$763$481$299$32
37 years$1,712$1,122$714$444$271$27
38 years$1,648$1,066$669$409$245$23
39 years$1,588$1,014$626$377$222$19
40 years$1,531$965$587$348$202$16
41 years$1,477$918$551$321$183$13
42 years$1,426$874$516$296$166$11
43 years$1,377$833$485$273$151$10
44 years$1,331$794$455$252$137$8
45 years$1,286$757$427$233$124$7
46 years$1,244$723$401$215$113$6
47 years$1,204$689$377$199$102$5
48 years$1,166$658$354$184$93$4
49 years$1,129$629$333$170$84$3
50 years$1,094$600$313$157$77$3

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 $6,285 every year, while hoping to spend $59,662 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: 48/45/7 Blend
67$1,120,000$1,120,000$1,120,000$1,120,000
68$1,240,723$1,181,363$1,164,003$1,297,689
69$1,303,797$1,175,770$1,139,517$1,331,773
70$1,371,305$1,167,903$1,112,211$1,361,940
71$1,443,636$1,157,588$1,081,928$1,393,292
72$1,521,217$1,144,640$1,048,503$1,425,955
73$1,604,516$1,128,863$1,011,764$1,460,073
74$1,694,049$1,110,050$971,530$1,495,806
75$1,790,379$1,087,979$927,613$1,533,337
76$1,894,126$1,062,418$879,817$1,572,867
77$2,005,971$1,033,121$827,934$1,614,628
78$2,126,661$999,825$771,751$1,658,874
79$2,257,018$962,254$711,043$1,705,894
80$2,397,945$920,115$645,574$1,756,011
81$2,550,434$873,100$575,099$1,809,586
82$2,715,575$820,879$499,362$1,867,022
83$2,894,569$763,106$418,095$1,928,771
84$3,088,732$699,416$331,019$1,995,338
85$3,299,517$629,421$237,842$2,067,286
86$3,528,517$552,712$138,259$2,145,244
87$3,777,487$468,857$31,952$2,229,913
88$4,048,358$377,398$0$2,322,074
89$4,343,252$277,852$0$2,428,686
90$4,664,508$169,711$0$2,547,573
91$5,014,697$52,436$0$2,677,453
92$5,396,648$0$0$2,819,554
93$5,813,478$0$0$3,012,153
94$6,268,616$0$0$3,250,920
95$6,765,835$0$0$3,511,884
96$7,309,293$0$0$3,797,242
97$7,903,563$0$0$4,109,411
98$8,553,683$0$0$4,451,054
99$9,265,201$0$0$4,825,103
100$10,044,223$0$0$5,234,786