Can I retire at age 68 with 1,170,000?

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 $1,170,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.1%
1 years$96,618$95,757$94,917$94,098$93,297$90,239
2 years$47,830$46,940$46,076$45,239$44,427$41,375
3 years$31,570$30,676$29,814$28,985$28,187$25,236
4 years$23,442$22,550$21,697$20,882$20,103$17,277
5 years$18,566$17,679$16,838$16,040$15,282$12,589
6 years$15,316$14,436$13,608$12,827$12,092$9,533
7 years$12,996$12,124$11,308$10,546$9,834$7,409
8 years$11,257$10,392$9,590$8,847$8,158$5,866
9 years$9,905$9,048$8,260$7,535$6,870$4,708
10 years$8,824$7,976$7,201$6,496$5,854$3,818
11 years$7,940$7,100$6,340$5,653$5,035$3,121
12 years$7,204$6,373$5,626$4,958$4,363$2,567
13 years$6,581$5,759$5,027$4,378$3,805$2,123
14 years$6,048$5,235$4,517$3,886$3,335$1,762
15 years$5,587$4,782$4,078$3,466$2,936$1,468
16 years$5,184$4,388$3,697$3,103$2,595$1,226
17 years$4,828$4,041$3,364$2,788$2,301$1,026
18 years$4,512$3,734$3,071$2,513$2,046$861
19 years$4,230$3,461$2,812$2,270$1,824$723
20 years$3,976$3,216$2,580$2,056$1,629$608
21 years$3,747$2,995$2,373$1,866$1,458$512
22 years$3,539$2,796$2,187$1,697$1,307$431
23 years$3,350$2,615$2,020$1,545$1,173$364
24 years$3,176$2,450$1,868$1,409$1,054$307
25 years$3,016$2,299$1,730$1,287$949$259
26 years$2,869$2,161$1,605$1,177$855$219
27 years$2,734$2,034$1,490$1,077$770$185
28 years$2,608$1,916$1,385$987$695$156
29 years$2,491$1,808$1,289$905$628$132
30 years$2,382$1,707$1,201$831$567$112
31 years$2,280$1,614$1,119$763$513$95
32 years$2,185$1,527$1,044$701$464$80
33 years$2,095$1,446$975$645$420$68
34 years$2,011$1,371$911$593$380$57
35 years$1,933$1,300$852$546$344$48
36 years$1,858$1,234$797$503$312$41
37 years$1,788$1,172$746$463$283$35
38 years$1,722$1,114$698$427$256$29
39 years$1,659$1,059$654$394$232$25
40 years$1,600$1,008$613$363$211$21
41 years$1,543$959$575$335$191$18
42 years$1,490$914$539$309$174$15
43 years$1,439$870$506$286$157$13
44 years$1,390$830$475$264$143$11
45 years$1,344$791$446$243$130$9
46 years$1,300$755$419$225$118$8
47 years$1,258$720$394$208$107$7
48 years$1,218$688$370$192$97$6
49 years$1,179$657$348$177$88$5
50 years$1,142$627$327$164$80$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $1,170,000, adding $6,195 every year, while hoping to spend $40,554 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: 29/45/26 Blend
67$1,170,000$1,170,000$1,170,000$1,170,000
68$1,295,730$1,233,720$1,215,585$1,322,721
69$1,384,745$1,251,023$1,213,158$1,361,674
70$1,481,481$1,267,815$1,209,291$1,399,558
71$1,586,682$1,284,028$1,203,891$1,439,465
72$1,701,167$1,299,589$1,196,865$1,481,597
73$1,825,838$1,314,420$1,188,112$1,526,178
74$1,961,686$1,328,440$1,177,527$1,573,459
75$2,109,804$1,341,559$1,165,000$1,623,717
76$2,271,393$1,353,684$1,150,416$1,677,261
77$2,447,775$1,364,715$1,133,655$1,734,434
78$2,640,406$1,374,543$1,114,590$1,795,617
79$2,850,888$1,383,057$1,093,090$1,861,233
80$3,080,986$1,390,135$1,069,016$1,931,752
81$3,332,643$1,395,647$1,042,224$2,007,695
82$3,607,996$1,399,458$1,012,562$2,089,640
83$3,909,401$1,401,421$979,873$2,178,228
84$4,239,452$1,401,382$943,990$2,274,172
85$4,601,003$1,399,177$904,741$2,378,259
86$4,997,200$1,394,631$861,944$2,491,365
87$5,431,506$1,387,560$815,411$2,614,458
88$5,907,736$1,377,767$764,944$2,748,611
89$6,430,092$1,365,044$710,336$2,895,013
90$7,003,200$1,349,170$651,371$3,054,982
91$7,632,158$1,329,911$587,824$3,229,975
92$8,322,582$1,307,020$519,459$3,421,606
93$9,080,654$1,280,233$446,030$3,631,663
94$9,913,189$1,249,272$367,280$3,862,121
95$10,827,690$1,213,843$282,941$4,115,168
96$11,832,427$1,173,633$192,731$4,393,225
97$12,936,507$1,128,314$96,360$4,698,967
98$14,149,964$1,077,534$0$5,035,355
99$15,483,852$1,020,925$0$5,407,460
100$16,950,350$958,096$0$5,845,747