Can I retire at age 68 with 1,160,000?

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 $1,160,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$95,792$94,938$94,106$93,293$92,500$90,191
2 years$47,422$46,538$45,683$44,853$44,048$41,736
3 years$31,300$30,413$29,560$28,738$27,946$25,703
4 years$23,241$22,357$21,512$20,704$19,931$17,776
5 years$18,407$17,528$16,694$15,902$15,151$13,089
6 years$15,185$14,313$13,491$12,717$11,989$10,021
7 years$12,885$12,020$11,211$10,456$9,750$7,877
8 years$11,161$10,303$9,508$8,771$8,089$6,310
9 years$9,820$8,971$8,189$7,471$6,812$5,126
10 years$8,748$7,908$7,140$6,440$5,804$4,209
11 years$7,872$7,040$6,286$5,605$4,992$3,486
12 years$7,142$6,318$5,578$4,916$4,326$2,905
13 years$6,525$5,710$4,984$4,340$3,772$2,435
14 years$5,997$5,190$4,478$3,853$3,307$2,050
15 years$5,539$4,741$4,043$3,436$2,911$1,732
16 years$5,139$4,350$3,666$3,077$2,573$1,467
17 years$4,787$4,006$3,336$2,764$2,281$1,246
18 years$4,474$3,702$3,045$2,491$2,029$1,061
19 years$4,194$3,431$2,788$2,251$1,808$905
20 years$3,942$3,188$2,558$2,039$1,615$772
21 years$3,715$2,970$2,353$1,850$1,445$660
22 years$3,509$2,772$2,169$1,682$1,295$565
23 years$3,321$2,593$2,002$1,532$1,163$484
24 years$3,149$2,429$1,852$1,397$1,045$415
25 years$2,991$2,280$1,715$1,276$941$356
26 years$2,845$2,143$1,591$1,167$847$306
27 years$2,710$2,016$1,477$1,068$764$263
28 years$2,585$1,900$1,373$979$689$226
29 years$2,469$1,792$1,278$897$622$194
30 years$2,361$1,693$1,190$824$562$167
31 years$2,260$1,600$1,110$756$508$143
32 years$2,166$1,514$1,035$695$460$123
33 years$2,077$1,434$967$639$416$106
34 years$1,994$1,359$903$588$377$91
35 years$1,916$1,289$844$541$341$79
36 years$1,842$1,223$790$499$309$68
37 years$1,773$1,162$739$459$280$58
38 years$1,707$1,104$692$423$254$50
39 years$1,645$1,050$649$390$230$43
40 years$1,586$999$608$360$209$37
41 years$1,530$951$570$332$190$32
42 years$1,477$906$535$307$172$28
43 years$1,426$863$502$283$156$24
44 years$1,378$823$471$261$142$20
45 years$1,332$784$442$241$129$18
46 years$1,289$748$415$223$117$15
47 years$1,247$714$390$206$106$13
48 years$1,207$682$367$190$96$11
49 years$1,169$651$345$176$87$10
50 years$1,133$622$324$163$79$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $1,160,000, adding $3,799 every year, while hoping to spend $47,269 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: 58/28/14 Blend
67$1,160,000$1,160,000$1,160,000$1,160,000
68$1,282,239$1,220,759$1,202,779$1,351,843
69$1,362,733$1,230,282$1,192,778$1,408,847
70$1,449,854$1,238,688$1,180,858$1,465,398
71$1,544,227$1,245,871$1,166,904$1,525,936
72$1,646,540$1,251,721$1,150,798$1,590,849
73$1,757,550$1,256,119$1,132,413$1,660,568
74$1,878,090$1,258,938$1,111,618$1,735,571
75$2,009,075$1,260,046$1,088,278$1,816,383
76$2,151,513$1,259,300$1,062,246$1,903,586
77$2,306,510$1,256,549$1,033,375$1,997,821
78$2,475,287$1,251,633$1,001,506$2,099,799
79$2,659,185$1,244,381$966,475$2,210,303
80$2,859,680$1,234,614$928,110$2,330,199
81$3,078,397$1,222,140$886,231$2,460,444
82$3,317,125$1,206,756$840,651$2,602,094
83$3,577,831$1,188,247$791,173$2,756,316
84$3,862,685$1,166,386$737,592$2,924,399
85$4,174,071$1,140,931$679,693$3,107,766
86$4,514,616$1,111,626$617,253$3,307,989
87$4,887,212$1,078,201$550,036$3,526,802
88$5,295,045$1,040,370$477,800$3,766,124
89$5,741,620$997,829$400,287$4,028,068
90$6,230,801$950,258$317,232$4,314,971
91$6,766,839$897,317$228,356$4,629,412
92$7,354,419$838,648$133,368$4,974,237
93$7,998,699$773,871$31,965$5,352,587
94$8,705,360$702,585$0$5,767,931
95$9,480,661$624,366$0$6,235,487
96$10,331,494$538,766$0$6,753,925
97$11,265,452$445,311$0$7,323,179
98$12,290,899$343,501$0$7,948,446
99$13,417,047$232,809$0$8,635,461
100$14,654,045$112,676$0$9,390,545