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

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 $1,190,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.5%
1 years$98,269$97,394$96,540$95,706$94,892$91,272
2 years$48,648$47,742$46,864$46,013$45,187$41,582
3 years$32,110$31,200$30,324$29,481$28,668$25,192
4 years$23,842$22,935$22,068$21,239$20,447$17,126
5 years$18,883$17,982$17,126$16,314$15,543$12,386
6 years$15,578$14,683$13,840$13,046$12,299$9,308
7 years$13,218$12,331$11,501$10,726$10,002$7,177
8 years$11,449$10,570$9,754$8,998$8,298$5,635
9 years$10,074$9,203$8,401$7,664$6,988$4,484
10 years$8,975$8,112$7,324$6,607$5,954$3,604
11 years$8,076$7,222$6,448$5,750$5,121$2,919
12 years$7,327$6,482$5,723$5,043$4,437$2,379
13 years$6,694$5,858$5,113$4,452$3,870$1,949
14 years$6,152$5,324$4,594$3,952$3,392$1,602
15 years$5,682$4,864$4,148$3,525$2,987$1,321
16 years$5,272$4,463$3,760$3,156$2,640$1,092
17 years$4,910$4,110$3,422$2,836$2,340$905
18 years$4,589$3,798$3,124$2,556$2,081$751
19 years$4,302$3,520$2,860$2,309$1,855$624
20 years$4,044$3,271$2,624$2,091$1,657$519
21 years$3,811$3,046$2,414$1,898$1,483$433
22 years$3,600$2,844$2,225$1,726$1,329$361
23 years$3,407$2,660$2,054$1,572$1,193$301
24 years$3,230$2,492$1,900$1,433$1,072$251
25 years$3,068$2,339$1,760$1,309$965$210
26 years$2,919$2,198$1,632$1,197$869$175
27 years$2,780$2,069$1,515$1,096$784$146
28 years$2,652$1,949$1,409$1,004$707$122
29 years$2,533$1,839$1,311$921$638$102
30 years$2,422$1,737$1,221$845$577$85
31 years$2,319$1,642$1,138$776$522$71
32 years$2,222$1,553$1,062$713$472$60
33 years$2,131$1,471$992$656$427$50
34 years$2,046$1,394$927$603$387$42
35 years$1,966$1,322$866$555$350$35
36 years$1,890$1,255$810$512$317$29
37 years$1,819$1,192$759$471$288$24
38 years$1,751$1,133$710$434$261$20
39 years$1,687$1,077$666$401$236$17
40 years$1,627$1,025$624$369$214$14
41 years$1,570$976$585$341$195$12
42 years$1,515$929$549$315$176$10
43 years$1,463$885$515$290$160$8
44 years$1,414$844$483$268$145$7
45 years$1,367$805$454$248$132$6
46 years$1,322$768$426$229$120$5
47 years$1,279$733$400$211$109$4
48 years$1,238$699$376$195$99$3
49 years$1,199$668$354$180$90$3
50 years$1,162$638$333$167$82$2

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 $2,169 every year, while hoping to spend $30,707 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: 61/27/12 Blend
67$1,190,000$1,190,000$1,190,000$1,190,000
68$1,313,617$1,250,547$1,232,102$1,389,860
69$1,414,934$1,279,152$1,240,706$1,469,910
70$1,525,556$1,308,129$1,248,568$1,553,537
71$1,646,400$1,337,465$1,255,632$1,644,040
72$1,778,475$1,367,143$1,261,838$1,742,085
73$1,922,893$1,397,146$1,267,123$1,848,408
74$2,080,875$1,427,453$1,271,419$1,963,817
75$2,253,770$1,458,044$1,274,657$2,089,202
76$2,443,061$1,488,895$1,276,764$2,225,544
77$2,650,381$1,519,978$1,277,663$2,373,926
78$2,877,528$1,551,265$1,277,273$2,535,537
79$3,126,484$1,582,725$1,275,510$2,711,689
80$3,399,430$1,614,323$1,272,284$2,903,830
81$3,698,768$1,646,022$1,267,503$3,113,552
82$4,027,146$1,677,781$1,261,068$3,342,610
83$4,387,479$1,709,556$1,252,877$3,592,938
84$4,782,976$1,741,298$1,242,823$3,866,670
85$5,217,176$1,772,958$1,230,793$4,166,152
86$5,693,973$1,804,479$1,216,671$4,493,976
87$6,217,660$1,835,800$1,200,331$4,852,992
88$6,792,965$1,866,857$1,181,645$5,246,345
89$7,425,095$1,897,581$1,160,478$5,677,500
90$8,119,789$1,927,897$1,136,689$6,150,275
91$8,883,368$1,957,724$1,110,128$6,668,879
92$9,722,796$1,986,977$1,080,642$7,237,949
93$10,645,745$2,015,563$1,048,067$7,862,598
94$11,660,669$2,043,383$1,012,235$8,548,457
95$12,776,880$2,070,331$972,967$9,301,737
96$14,004,639$2,096,295$930,080$10,129,279
97$15,355,252$2,121,154$883,377$11,038,626
98$16,841,175$2,144,778$832,658$12,038,089
99$18,476,133$2,167,030$777,709$13,136,829
100$20,275,246$2,187,762$718,311$14,344,942