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

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 $1,200,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.2%
1 years$99,095$98,212$97,351$96,510$95,690$92,887
2 years$49,057$48,143$47,258$46,399$45,567$42,766
3 years$32,380$31,462$30,579$29,728$28,909$26,198
4 years$24,043$23,128$22,254$21,418$20,618$18,017
5 years$19,042$18,133$17,270$16,451$15,674$13,190
6 years$15,709$14,807$13,956$13,156$12,402$10,038
7 years$13,329$12,435$11,598$10,816$10,086$7,842
8 years$11,546$10,659$9,836$9,073$8,367$6,241
9 years$10,159$9,280$8,472$7,729$7,047$5,037
10 years$9,050$8,180$7,386$6,662$6,004$4,107
11 years$8,143$7,282$6,502$5,798$5,164$3,377
12 years$7,388$6,536$5,771$5,086$4,475$2,795
13 years$6,750$5,907$5,156$4,490$3,902$2,325
14 years$6,204$5,369$4,632$3,986$3,421$1,942
15 years$5,730$4,905$4,182$3,554$3,012$1,628
16 years$5,316$4,500$3,792$3,183$2,662$1,369
17 years$4,952$4,144$3,451$2,860$2,360$1,153
18 years$4,628$3,830$3,150$2,577$2,098$974
19 years$4,339$3,549$2,884$2,329$1,870$824
20 years$4,078$3,298$2,646$2,109$1,671$697
21 years$3,843$3,072$2,434$1,914$1,495$591
22 years$3,630$2,868$2,244$1,740$1,340$502
23 years$3,435$2,682$2,071$1,585$1,203$426
24 years$3,257$2,513$1,916$1,446$1,081$362
25 years$3,094$2,358$1,774$1,320$973$308
26 years$2,943$2,216$1,646$1,207$876$262
27 years$2,804$2,086$1,528$1,105$790$223
28 years$2,675$1,966$1,421$1,012$713$190
29 years$2,555$1,854$1,322$928$644$162
30 years$2,443$1,751$1,231$852$582$138
31 years$2,338$1,655$1,148$782$526$117
32 years$2,241$1,566$1,071$719$476$100
33 years$2,149$1,483$1,000$661$431$85
34 years$2,063$1,406$934$608$390$73
35 years$1,982$1,333$874$560$353$62
36 years$1,906$1,266$817$516$320$53
37 years$1,834$1,202$765$475$290$45
38 years$1,766$1,142$716$438$263$38
39 years$1,702$1,086$671$404$238$33
40 years$1,641$1,034$629$373$216$28
41 years$1,583$984$590$344$196$24
42 years$1,528$937$553$317$178$20
43 years$1,476$893$519$293$162$17
44 years$1,426$851$487$270$147$15
45 years$1,378$811$458$250$133$13
46 years$1,333$774$430$231$121$11
47 years$1,290$739$404$213$110$9
48 years$1,249$705$379$197$100$8
49 years$1,209$673$357$182$91$7
50 years$1,172$643$335$168$82$6

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 $6,123 every year, while hoping to spend $30,056 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: 24/50/26 Blend
67$1,200,000$1,200,000$1,200,000$1,200,000
68$1,328,716$1,265,116$1,246,516$1,349,559
69$1,432,266$1,295,127$1,256,295$1,397,524
70$1,545,370$1,325,602$1,265,394$1,445,925
71$1,668,972$1,356,530$1,273,759$1,497,145
72$1,804,109$1,387,903$1,281,332$1,551,437
73$1,951,925$1,419,707$1,288,054$1,609,083
74$2,113,678$1,451,929$1,293,860$1,670,390
75$2,290,754$1,484,554$1,298,684$1,735,699
76$2,484,677$1,517,563$1,302,457$1,805,385
77$2,697,129$1,550,939$1,305,104$1,879,863
78$2,929,961$1,584,659$1,306,550$1,959,592
79$3,185,209$1,618,700$1,306,711$2,045,074
80$3,465,119$1,653,035$1,305,505$2,136,869
81$3,772,163$1,687,636$1,302,841$2,235,590
82$4,109,064$1,722,470$1,298,627$2,341,916
83$4,478,821$1,757,504$1,292,764$2,456,596
84$4,884,739$1,792,699$1,285,149$2,580,457
85$5,330,456$1,828,015$1,275,675$2,714,410
86$5,819,981$1,863,407$1,264,229$2,859,462
87$6,357,732$1,898,826$1,250,693$3,016,725
88$6,948,572$1,934,221$1,234,943$3,187,425
89$7,597,863$1,969,534$1,216,850$3,372,913
90$8,311,508$2,004,704$1,196,277$3,574,685
91$9,096,012$2,039,665$1,173,083$3,794,387
92$9,958,543$2,074,346$1,147,119$4,033,837
93$10,906,997$2,108,671$1,118,230$4,295,044
94$11,950,072$2,142,558$1,086,252$4,580,219
95$13,097,353$2,175,917$1,051,015$4,891,807
96$14,359,401$2,208,655$1,012,342$5,232,503
97$15,747,851$2,240,670$970,047$5,605,281
98$17,275,522$2,271,853$923,933$6,013,422
99$18,956,539$2,302,087$873,799$6,460,546
100$20,806,465$2,331,249$819,431$6,950,649