Can I retire at age 68 with 1,190,000?

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 $1,190,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$98,269$97,394$96,540$95,706$94,892$93,784
2 years$48,648$47,742$46,864$46,013$45,187$44,072
3 years$32,110$31,200$30,324$29,481$28,668$27,580
4 years$23,842$22,935$22,068$21,239$20,447$19,394
5 years$18,883$17,982$17,126$16,314$15,543$14,530
6 years$15,578$14,683$13,840$13,046$12,299$11,326
7 years$13,218$12,331$11,501$10,726$10,002$9,069
8 years$11,449$10,570$9,754$8,998$8,298$7,405
9 years$10,074$9,203$8,401$7,664$6,988$6,136
10 years$8,975$8,112$7,324$6,607$5,954$5,141
11 years$8,076$7,222$6,448$5,750$5,121$4,347
12 years$7,327$6,482$5,723$5,043$4,437$3,701
13 years$6,694$5,858$5,113$4,452$3,870$3,170
14 years$6,152$5,324$4,594$3,952$3,392$2,729
15 years$5,682$4,864$4,148$3,525$2,987$2,358
16 years$5,272$4,463$3,760$3,156$2,640$2,045
17 years$4,910$4,110$3,422$2,836$2,340$1,779
18 years$4,589$3,798$3,124$2,556$2,081$1,551
19 years$4,302$3,520$2,860$2,309$1,855$1,355
20 years$4,044$3,271$2,624$2,091$1,657$1,186
21 years$3,811$3,046$2,414$1,898$1,483$1,040
22 years$3,600$2,844$2,225$1,726$1,329$913
23 years$3,407$2,660$2,054$1,572$1,193$802
24 years$3,230$2,492$1,900$1,433$1,072$706
25 years$3,068$2,339$1,760$1,309$965$622
26 years$2,919$2,198$1,632$1,197$869$548
27 years$2,780$2,069$1,515$1,096$784$483
28 years$2,652$1,949$1,409$1,004$707$426
29 years$2,533$1,839$1,311$921$638$377
30 years$2,422$1,737$1,221$845$577$333
31 years$2,319$1,642$1,138$776$522$294
32 years$2,222$1,553$1,062$713$472$260
33 years$2,131$1,471$992$656$427$230
34 years$2,046$1,394$927$603$387$203
35 years$1,966$1,322$866$555$350$180
36 years$1,890$1,255$810$512$317$159
37 years$1,819$1,192$759$471$288$141
38 years$1,751$1,133$710$434$261$125
39 years$1,687$1,077$666$401$236$110
40 years$1,627$1,025$624$369$214$98
41 years$1,570$976$585$341$195$87
42 years$1,515$929$549$315$176$77
43 years$1,463$885$515$290$160$68
44 years$1,414$844$483$268$145$60
45 years$1,367$805$454$248$132$53
46 years$1,322$768$426$229$120$47
47 years$1,279$733$400$211$109$42
48 years$1,238$699$376$195$99$37
49 years$1,199$668$354$180$90$33
50 years$1,162$638$333$167$82$29

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $1,190,000, adding $5,884 every year, while hoping to spend $46,734 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: 41/36/23 Blend
67$1,190,000$1,190,000$1,190,000$1,190,000
68$1,317,449$1,254,379$1,235,934$1,362,334
69$1,402,105$1,266,119$1,227,614$1,406,786
70$1,493,828$1,276,868$1,217,448$1,449,976
71$1,593,292$1,286,528$1,205,326$1,495,791
72$1,701,235$1,294,995$1,191,131$1,544,497
73$1,818,469$1,302,157$1,174,741$1,596,390
74$1,945,887$1,307,898$1,156,030$1,651,799
75$2,084,473$1,312,090$1,134,862$1,711,090
76$2,235,308$1,314,601$1,111,099$1,774,666
77$2,399,582$1,315,290$1,084,594$1,842,979
78$2,578,605$1,314,004$1,055,193$1,916,525
79$2,773,817$1,310,585$1,022,737$1,995,859
80$2,986,805$1,304,863$987,057$2,081,593
81$3,219,315$1,296,657$947,979$2,174,405
82$3,473,268$1,285,776$905,320$2,275,050
83$3,750,781$1,272,018$858,887$2,384,360
84$4,054,182$1,255,168$808,480$2,503,260
85$4,386,035$1,234,998$753,891$2,632,772
86$4,749,165$1,211,267$694,901$2,774,030
87$5,146,680$1,183,719$631,281$2,928,288
88$5,582,004$1,152,085$562,792$3,096,933
89$6,058,908$1,116,076$489,185$3,281,503
90$6,581,544$1,075,391$410,199$3,483,696
91$7,154,484$1,029,708$325,564$3,705,394
92$7,782,766$978,688$234,994$3,948,676
93$8,471,935$921,971$138,194$4,215,842
94$9,228,103$859,178$34,854$4,509,438
95$10,057,998$789,907$0$4,832,274
96$10,969,035$713,733$0$5,205,972
97$11,969,379$630,208$0$5,625,788
98$13,068,025$538,858$0$6,087,044
99$14,274,883$439,181$0$6,594,028
100$15,600,869$330,649$0$7,151,472