Can I retire at age 68 with 1,220,000?

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 $1,220,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.7%
1 years$100,746$99,849$98,974$98,119$97,285$96,189
2 years$49,874$48,946$48,045$47,173$46,326$45,223
3 years$32,919$31,987$31,089$30,224$29,391$28,315
4 years$24,443$23,513$22,625$21,775$20,962$19,921
5 years$19,359$18,435$17,558$16,725$15,935$14,932
6 years$15,971$15,053$14,189$13,375$12,609$11,645
7 years$13,552$12,642$11,791$10,996$10,254$9,331
8 years$11,738$10,836$10,000$9,225$8,507$7,623
9 years$10,328$9,435$8,613$7,857$7,164$6,320
10 years$9,201$8,317$7,509$6,773$6,104$5,299
11 years$8,279$7,404$6,611$5,895$5,250$4,482
12 years$7,512$6,645$5,867$5,170$4,549$3,819
13 years$6,863$6,005$5,242$4,565$3,967$3,274
14 years$6,307$5,459$4,710$4,052$3,478$2,820
15 years$5,826$4,987$4,252$3,614$3,062$2,438
16 years$5,405$4,575$3,855$3,236$2,706$2,116
17 years$5,034$4,213$3,508$2,907$2,399$1,842
18 years$4,705$3,893$3,202$2,620$2,133$1,607
19 years$4,411$3,608$2,932$2,367$1,902$1,405
20 years$4,146$3,353$2,691$2,144$1,699$1,231
21 years$3,907$3,123$2,475$1,946$1,520$1,080
22 years$3,690$2,915$2,281$1,769$1,362$949
23 years$3,493$2,727$2,106$1,611$1,223$834
24 years$3,312$2,555$1,948$1,470$1,099$735
25 years$3,145$2,398$1,804$1,342$989$648
26 years$2,992$2,253$1,673$1,227$891$571
27 years$2,850$2,121$1,554$1,123$803$504
28 years$2,719$1,998$1,444$1,029$725$445
29 years$2,597$1,885$1,344$944$655$393
30 years$2,483$1,780$1,252$866$591$348
31 years$2,377$1,683$1,167$795$535$308
32 years$2,278$1,592$1,089$731$484$272
33 years$2,185$1,508$1,017$672$438$241
34 years$2,097$1,429$950$619$396$213
35 years$2,015$1,356$888$569$359$189
36 years$1,938$1,287$831$524$325$167
37 years$1,864$1,222$778$483$295$148
38 years$1,795$1,161$728$445$267$131
39 years$1,730$1,104$682$411$242$116
40 years$1,668$1,051$640$379$220$103
41 years$1,609$1,000$600$349$199$91
42 years$1,553$953$563$323$181$81
43 years$1,500$908$528$298$164$72
44 years$1,450$865$495$275$149$64
45 years$1,401$825$465$254$135$57
46 years$1,355$787$437$234$123$50
47 years$1,312$751$411$217$112$44
48 years$1,270$717$386$200$101$39
49 years$1,230$685$363$185$92$35
50 years$1,191$654$341$171$84$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $1,220,000, adding $4,857 every year, while hoping to spend $40,056 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: 68/14/18 Blend
67$1,220,000$1,220,000$1,220,000$1,220,000
68$1,349,450$1,284,790$1,265,880$1,434,988
69$1,444,475$1,305,125$1,265,668$1,513,060
70$1,547,849$1,325,115$1,264,106$1,593,280
71$1,660,383$1,344,699$1,261,107$1,680,041
72$1,782,967$1,363,814$1,256,579$1,773,983
73$1,916,582$1,382,393$1,250,426$1,875,813
74$2,062,305$1,400,362$1,242,547$1,986,310
75$2,221,324$1,417,643$1,232,836$2,106,333
76$2,394,946$1,434,155$1,221,183$2,236,829
77$2,584,609$1,449,807$1,207,472$2,378,840
78$2,791,898$1,464,506$1,191,581$2,533,518
79$3,018,555$1,478,151$1,173,382$2,702,130
80$3,266,501$1,490,633$1,152,743$2,886,075
81$3,537,849$1,501,839$1,129,525$3,086,894
82$3,834,926$1,511,646$1,103,581$3,306,286
83$4,160,296$1,519,924$1,074,759$3,546,124
84$4,516,781$1,526,536$1,042,898$3,808,475
85$4,907,491$1,531,333$1,007,833$4,095,614
86$5,335,847$1,534,161$969,388$4,410,051
87$5,805,621$1,534,853$927,380$4,754,556
88$6,320,966$1,533,232$881,619$5,132,177
89$6,886,456$1,529,112$831,905$5,546,278
90$7,507,130$1,522,294$778,029$6,000,567
91$8,188,538$1,512,567$719,773$6,499,133
92$8,936,793$1,499,707$656,909$7,046,481
93$9,758,630$1,483,477$589,200$7,647,579
94$10,661,469$1,463,626$516,397$8,307,903
95$11,653,482$1,439,887$438,240$9,033,492
96$12,743,674$1,411,977$354,457$9,831,001
97$13,941,964$1,379,599$264,766$10,707,766
98$15,259,279$1,342,435$168,872$11,671,876
99$16,707,661$1,300,150$66,464$12,732,246
100$18,300,374$1,252,389$0$13,898,705