Can I retire at age 68 with 1,230,000?

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 $1,230,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.6%
1 years$101,572$100,667$99,785$98,923$98,082$95,828
2 years$50,283$49,347$48,439$47,559$46,706$44,447
3 years$33,189$32,249$31,343$30,472$29,632$27,439
4 years$24,644$23,706$22,810$21,953$21,134$19,024
5 years$19,518$18,586$17,701$16,862$16,066$14,045
6 years$16,102$15,177$14,305$13,485$12,712$10,783
7 years$13,663$12,745$11,888$11,087$10,338$8,500
8 years$11,834$10,925$10,082$9,300$8,577$6,829
9 years$10,413$9,512$8,683$7,922$7,223$5,564
10 years$9,276$8,385$7,570$6,829$6,154$4,583
11 years$8,347$7,464$6,665$5,943$5,293$3,807
12 years$7,573$6,700$5,915$5,213$4,587$3,184
13 years$6,919$6,055$5,285$4,602$4,000$2,677
14 years$6,359$5,503$4,748$4,085$3,506$2,261
15 years$5,873$5,027$4,287$3,643$3,087$1,917
16 years$5,449$4,613$3,887$3,262$2,728$1,630
17 years$5,076$4,248$3,537$2,931$2,419$1,390
18 years$4,744$3,925$3,229$2,641$2,151$1,187
19 years$4,447$3,638$2,956$2,387$1,917$1,016
20 years$4,180$3,381$2,713$2,162$1,712$871
21 years$3,939$3,149$2,495$1,962$1,532$748
22 years$3,721$2,939$2,300$1,784$1,374$642
23 years$3,521$2,749$2,123$1,625$1,233$553
24 years$3,339$2,576$1,964$1,482$1,108$476
25 years$3,171$2,417$1,819$1,353$997$410
26 years$3,017$2,272$1,687$1,237$898$353
27 years$2,874$2,138$1,566$1,132$810$304
28 years$2,741$2,015$1,456$1,038$731$263
29 years$2,618$1,901$1,355$951$660$227
30 years$2,504$1,795$1,262$873$596$196
31 years$2,397$1,697$1,177$802$539$169
32 years$2,297$1,606$1,098$737$488$146
33 years$2,203$1,520$1,025$678$441$126
34 years$2,115$1,441$958$624$400$109
35 years$2,032$1,367$895$574$362$94
36 years$1,954$1,297$838$529$328$81
37 years$1,880$1,232$784$487$297$70
38 years$1,810$1,171$734$449$269$61
39 years$1,744$1,113$688$414$244$53
40 years$1,682$1,059$645$382$222$45
41 years$1,622$1,008$605$352$201$39
42 years$1,566$960$567$325$182$34
43 years$1,512$915$532$300$166$29
44 years$1,461$872$500$277$150$25
45 years$1,413$832$469$256$136$22
46 years$1,366$793$441$236$124$19
47 years$1,322$757$414$218$112$16
48 years$1,280$723$389$202$102$14
49 years$1,240$690$366$187$93$12
50 years$1,201$659$344$172$84$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $1,230,000, adding $5,520 every year, while hoping to spend $38,100 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: 55/27/18 Blend
67$1,230,000$1,230,000$1,230,000$1,230,000
68$1,361,154$1,295,964$1,276,899$1,429,164
69$1,459,453$1,318,928$1,279,137$1,499,148
70$1,566,503$1,341,740$1,280,173$1,570,780
71$1,683,154$1,364,353$1,279,926$1,647,940
72$1,810,344$1,386,716$1,278,313$1,731,167
73$1,949,107$1,408,773$1,275,244$1,821,053
74$2,100,578$1,430,465$1,270,627$1,918,253
75$2,266,008$1,451,728$1,264,364$2,023,490
76$2,446,774$1,472,496$1,256,353$2,137,559
77$2,644,391$1,492,694$1,246,487$2,261,340
78$2,860,528$1,512,246$1,234,654$2,395,801
79$3,097,024$1,531,067$1,220,736$2,542,010
80$3,355,901$1,549,070$1,204,611$2,701,145
81$3,639,387$1,566,159$1,186,150$2,874,507
82$3,949,935$1,582,232$1,165,217$3,063,529
83$4,290,249$1,597,182$1,141,673$3,269,791
84$4,663,304$1,610,893$1,115,368$3,495,038
85$5,072,377$1,623,242$1,086,148$3,741,192
86$5,521,078$1,634,099$1,053,853$4,010,375
87$6,013,382$1,643,325$1,018,312$4,304,925
88$6,553,671$1,650,771$979,349$4,627,423
89$7,146,766$1,656,281$936,778$4,980,713
90$7,797,984$1,659,685$890,407$5,367,932
91$8,513,176$1,660,808$840,034$5,792,542
92$9,298,791$1,659,459$785,446$6,258,357
93$10,161,933$1,655,438$726,424$6,769,585
94$11,110,428$1,648,531$662,736$7,330,866
95$12,152,896$1,638,514$594,143$7,947,317
96$13,298,836$1,625,146$520,391$8,624,581
97$14,558,712$1,608,173$441,219$9,368,878
98$15,944,052$1,587,324$356,351$10,187,069
99$17,467,557$1,562,316$265,501$11,086,719
100$19,143,223$1,532,844$168,370$12,076,167