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%15.9%
1 years$92,489$91,665$90,861$90,076$89,310$87,151
2 years$45,786$44,934$44,107$43,306$42,529$40,367
3 years$30,221$29,365$28,540$27,747$26,982$24,884
4 years$22,440$21,586$20,770$19,990$19,244$17,226
5 years$17,772$16,924$16,118$15,354$14,629$12,698
6 years$14,662$13,820$13,026$12,279$11,575$9,732
7 years$12,441$11,606$10,825$10,095$9,414$7,659
8 years$10,776$9,948$9,180$8,469$7,810$6,143
9 years$9,482$8,662$7,907$7,213$6,577$4,996
10 years$8,447$7,635$6,893$6,218$5,604$4,108
11 years$7,601$6,797$6,069$5,411$4,819$3,406
12 years$6,896$6,100$5,386$4,747$4,176$2,843
13 years$6,300$5,513$4,812$4,191$3,642$2,385
14 years$5,790$5,011$4,324$3,720$3,193$2,011
15 years$5,348$4,578$3,904$3,317$2,811$1,701
16 years$4,962$4,200$3,539$2,970$2,484$1,443
17 years$4,622$3,868$3,221$2,669$2,203$1,228
18 years$4,319$3,574$2,940$2,405$1,959$1,047
19 years$4,049$3,313$2,691$2,173$1,746$894
20 years$3,807$3,078$2,470$1,968$1,559$764
21 years$3,587$2,867$2,272$1,786$1,395$655
22 years$3,388$2,677$2,094$1,624$1,251$561
23 years$3,206$2,503$1,933$1,479$1,123$481
24 years$3,040$2,345$1,788$1,349$1,009$413
25 years$2,888$2,201$1,656$1,232$908$355
26 years$2,747$2,069$1,536$1,127$818$305
27 years$2,617$1,947$1,426$1,031$737$263
28 years$2,496$1,834$1,326$945$665$226
29 years$2,384$1,731$1,234$866$601$195
30 years$2,280$1,634$1,149$795$543$168
31 years$2,182$1,545$1,071$730$491$144
32 years$2,091$1,462$1,000$671$444$124
33 years$2,006$1,384$933$617$402$107
34 years$1,925$1,312$872$568$364$92
35 years$1,850$1,245$815$523$330$80
36 years$1,779$1,181$763$481$299$69
37 years$1,712$1,122$714$444$271$59
38 years$1,648$1,066$669$409$245$51
39 years$1,588$1,014$626$377$222$44
40 years$1,531$965$587$348$202$38
41 years$1,477$918$551$321$183$33
42 years$1,426$874$516$296$166$28
43 years$1,377$833$485$273$151$24
44 years$1,331$794$455$252$137$21
45 years$1,286$757$427$233$124$18
46 years$1,244$723$401$215$113$16
47 years$1,204$689$377$199$102$13
48 years$1,166$658$354$184$93$12
49 years$1,129$629$333$170$84$10
50 years$1,094$600$313$157$77$9

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 $5,424 every year, while hoping to spend $44,653 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: 63/15/22 Blend
67$1,120,000$1,120,000$1,120,000$1,120,000
68$1,239,835$1,180,475$1,163,115$1,310,531
69$1,318,788$1,190,808$1,154,569$1,369,222
70$1,404,297$1,200,150$1,144,240$1,427,827
71$1,496,984$1,208,407$1,132,021$1,490,819
72$1,597,534$1,215,476$1,117,801$1,558,631
73$1,706,697$1,221,248$1,101,461$1,631,742
74$1,825,300$1,225,610$1,082,881$1,710,679
75$1,954,253$1,228,437$1,061,930$1,796,025
76$2,094,557$1,229,600$1,038,474$1,888,424
77$2,247,312$1,228,961$1,012,373$1,988,588
78$2,413,730$1,226,373$983,480$2,097,300
79$2,595,144$1,221,679$951,641$2,215,427
80$2,793,022$1,214,714$916,694$2,343,926
81$3,008,979$1,205,304$878,471$2,483,850
82$3,244,791$1,193,260$836,797$2,636,367
83$3,502,417$1,178,387$791,487$2,802,760
84$3,784,010$1,160,475$742,348$2,984,451
85$4,091,943$1,139,302$689,181$3,183,004
86$4,428,827$1,114,633$631,774$3,400,149
87$4,797,537$1,086,220$569,908$3,637,793
88$5,201,240$1,053,799$503,355$3,898,040
89$5,643,424$1,017,092$431,874$4,183,215
90$6,127,927$975,804$355,215$4,495,879
91$6,658,979$929,621$273,118$4,838,861
92$7,241,237$878,215$185,310$5,215,280
93$7,879,831$821,236$91,506$5,628,578
94$8,580,412$758,315$0$6,082,552
95$9,349,202$689,060$0$6,583,411
96$10,193,058$613,061$0$7,156,809
97$11,119,528$529,880$0$7,786,419
98$12,136,933$439,056$0$8,477,942
99$13,254,433$340,103$0$9,237,662
100$14,482,124$232,507$0$10,072,505