Can I retire at age 68 with 1,200,000?

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 $1,200,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.9%
1 years$99,095$98,212$97,351$96,510$95,690$94,143
2 years$49,057$48,143$47,258$46,399$45,567$44,013
3 years$32,380$31,462$30,579$29,728$28,909$27,397
4 years$24,043$23,128$22,254$21,418$20,618$19,158
5 years$19,042$18,133$17,270$16,451$15,674$14,271
6 years$15,709$14,807$13,956$13,156$12,402$11,057
7 years$13,329$12,435$11,598$10,816$10,086$8,801
8 years$11,546$10,659$9,836$9,073$8,367$7,141
9 years$10,159$9,280$8,472$7,729$7,047$5,878
10 years$9,050$8,180$7,386$6,662$6,004$4,892
11 years$8,143$7,282$6,502$5,798$5,164$4,108
12 years$7,388$6,536$5,771$5,086$4,475$3,473
13 years$6,750$5,907$5,156$4,490$3,902$2,954
14 years$6,204$5,369$4,632$3,986$3,421$2,524
15 years$5,730$4,905$4,182$3,554$3,012$2,165
16 years$5,316$4,500$3,792$3,183$2,662$1,863
17 years$4,952$4,144$3,451$2,860$2,360$1,608
18 years$4,628$3,830$3,150$2,577$2,098$1,391
19 years$4,339$3,549$2,884$2,329$1,870$1,205
20 years$4,078$3,298$2,646$2,109$1,671$1,047
21 years$3,843$3,072$2,434$1,914$1,495$910
22 years$3,630$2,868$2,244$1,740$1,340$792
23 years$3,435$2,682$2,071$1,585$1,203$690
24 years$3,257$2,513$1,916$1,446$1,081$602
25 years$3,094$2,358$1,774$1,320$973$526
26 years$2,943$2,216$1,646$1,207$876$459
27 years$2,804$2,086$1,528$1,105$790$402
28 years$2,675$1,966$1,421$1,012$713$351
29 years$2,555$1,854$1,322$928$644$307
30 years$2,443$1,751$1,231$852$582$269
31 years$2,338$1,655$1,148$782$526$236
32 years$2,241$1,566$1,071$719$476$206
33 years$2,149$1,483$1,000$661$431$181
34 years$2,063$1,406$934$608$390$159
35 years$1,982$1,333$874$560$353$139
36 years$1,906$1,266$817$516$320$122
37 years$1,834$1,202$765$475$290$107
38 years$1,766$1,142$716$438$263$94
39 years$1,702$1,086$671$404$238$82
40 years$1,641$1,034$629$373$216$72
41 years$1,583$984$590$344$196$63
42 years$1,528$937$553$317$178$56
43 years$1,476$893$519$293$162$49
44 years$1,426$851$487$270$147$43
45 years$1,378$811$458$250$133$38
46 years$1,333$774$430$231$121$33
47 years$1,290$739$404$213$110$29
48 years$1,249$705$379$197$100$25
49 years$1,209$673$357$182$91$22
50 years$1,172$643$335$168$82$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $1,200,000, adding $2,028 every year, while hoping to spend $24,440 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: 51/24/25 Blend
67$1,200,000$1,200,000$1,200,000$1,200,000
68$1,324,492$1,260,892$1,242,292$1,382,659
69$1,433,586$1,296,672$1,257,905$1,459,042
70$1,552,989$1,333,385$1,273,221$1,539,408
71$1,683,726$1,371,053$1,288,206$1,626,301
72$1,826,926$1,409,695$1,302,822$1,720,350
73$1,983,834$1,449,332$1,317,028$1,822,249
74$2,155,819$1,489,983$1,330,782$1,932,764
75$2,344,390$1,531,670$1,344,041$2,052,734
76$2,551,209$1,574,413$1,356,757$2,183,088
77$2,778,106$1,618,232$1,368,882$2,324,847
78$3,027,096$1,663,149$1,380,363$2,479,134
79$3,300,400$1,709,184$1,391,145$2,647,191
80$3,600,464$1,756,357$1,401,172$2,830,381
81$3,929,983$1,804,690$1,410,383$3,030,208
82$4,291,924$1,854,203$1,418,714$3,248,330
83$4,689,558$1,904,916$1,426,098$3,486,572
84$5,126,485$1,956,850$1,432,465$3,746,945
85$5,606,675$2,010,024$1,437,741$4,031,665
86$6,134,499$2,064,458$1,441,848$4,343,175
87$6,714,773$2,120,171$1,444,705$4,684,165
88$7,352,803$2,177,183$1,446,226$5,057,601
89$8,054,436$2,235,512$1,446,321$5,466,749
90$8,826,112$2,295,176$1,444,897$5,915,209
91$9,674,928$2,356,192$1,441,854$6,406,949
92$10,608,703$2,418,577$1,437,088$6,946,341
93$11,636,051$2,482,348$1,430,491$7,538,202
94$12,766,464$2,547,519$1,421,948$8,187,842
95$14,010,401$2,614,105$1,411,341$8,901,111
96$15,379,385$2,682,119$1,398,544$9,684,456
97$16,886,113$2,751,574$1,383,426$10,544,983
98$18,544,575$2,822,479$1,365,849$11,490,523
99$20,370,186$2,894,846$1,345,670$12,529,703
100$22,379,933$2,968,681$1,322,737$13,672,035