Can I retire at age 68 with 1,240,000?

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 $1,240,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$102,398$101,486$100,596$99,727$98,879$97,928
2 years$50,692$49,748$48,833$47,946$47,085$46,127
3 years$33,459$32,511$31,598$30,719$29,873$28,938
4 years$24,844$23,899$22,995$22,132$21,306$20,400
5 years$19,677$18,737$17,845$16,999$16,196$15,323
6 years$16,233$15,300$14,422$13,594$12,815$11,976
7 years$13,774$12,849$11,985$11,177$10,422$9,617
8 years$11,930$11,014$10,164$9,376$8,646$7,875
9 years$10,497$9,590$8,754$7,986$7,282$6,544
10 years$9,352$8,453$7,632$6,884$6,204$5,500
11 years$8,415$7,525$6,719$5,991$5,336$4,664
12 years$7,635$6,754$5,963$5,255$4,624$3,984
13 years$6,975$6,104$5,328$4,640$4,032$3,424
14 years$6,410$5,548$4,787$4,118$3,535$2,957
15 years$5,921$5,068$4,322$3,673$3,112$2,564
16 years$5,494$4,650$3,918$3,289$2,750$2,231
17 years$5,117$4,283$3,566$2,955$2,439$1,947
18 years$4,782$3,957$3,255$2,663$2,168$1,704
19 years$4,483$3,668$2,980$2,406$1,933$1,494
20 years$4,214$3,408$2,735$2,179$1,726$1,313
21 years$3,971$3,174$2,515$1,978$1,545$1,155
22 years$3,751$2,963$2,318$1,798$1,385$1,018
23 years$3,550$2,771$2,141$1,638$1,243$898
24 years$3,366$2,597$1,980$1,494$1,117$793
25 years$3,197$2,437$1,834$1,364$1,005$701
26 years$3,041$2,290$1,701$1,247$906$621
27 years$2,897$2,155$1,579$1,142$817$549
28 years$2,764$2,031$1,468$1,046$737$487
29 years$2,640$1,916$1,366$959$665$432
30 years$2,524$1,810$1,272$880$601$383
31 years$2,416$1,711$1,186$809$543$340
32 years$2,315$1,619$1,107$743$492$302
33 years$2,221$1,533$1,033$683$445$268
34 years$2,132$1,453$966$629$403$238
35 years$2,048$1,378$903$579$365$211
36 years$1,969$1,308$844$533$331$188
37 years$1,895$1,242$790$491$300$167
38 years$1,825$1,180$740$453$272$148
39 years$1,758$1,123$693$417$246$132
40 years$1,695$1,068$650$385$223$117
41 years$1,635$1,017$609$355$203$104
42 years$1,579$968$572$328$184$93
43 years$1,525$922$536$303$167$83
44 years$1,473$879$504$279$152$74
45 years$1,424$839$473$258$138$65
46 years$1,378$800$444$238$125$58
47 years$1,333$763$417$220$113$52
48 years$1,290$729$392$203$103$46
49 years$1,250$696$369$188$94$41
50 years$1,211$665$346$174$85$37

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $1,240,000, adding $4,517 every year, while hoping to spend $53,733 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: 38/50/12 Blend
67$1,240,000$1,240,000$1,240,000$1,240,000
68$1,371,139$1,305,419$1,286,199$1,418,072
69$1,453,824$1,312,213$1,272,115$1,458,673
70$1,543,142$1,317,539$1,255,759$1,496,962
71$1,639,712$1,321,269$1,236,997$1,537,156
72$1,744,217$1,323,265$1,215,690$1,579,452
73$1,857,404$1,323,382$1,191,693$1,624,069
74$1,980,098$1,321,466$1,164,853$1,671,252
75$2,113,203$1,317,354$1,135,011$1,721,274
76$2,257,716$1,310,870$1,102,001$1,774,442
77$2,414,732$1,301,832$1,065,646$1,831,095
78$2,585,456$1,290,042$1,025,766$1,891,613
79$2,771,212$1,275,294$982,170$1,956,419
80$2,973,460$1,257,368$934,656$2,025,982
81$3,193,804$1,236,030$883,019$2,100,828
82$3,434,010$1,211,034$827,038$2,181,539
83$3,696,022$1,182,118$766,487$2,268,765
84$3,981,980$1,149,005$701,127$2,363,225
85$4,294,237$1,111,401$630,710$2,465,723
86$4,635,386$1,068,997$554,976$2,577,148
87$5,008,282$1,021,464$473,654$2,698,491
88$5,416,065$968,455$386,460$2,830,849
89$5,862,197$909,601$293,099$2,975,442
90$6,350,484$844,516$193,262$3,133,623
91$6,885,123$772,786$86,626$3,306,894
92$7,470,732$693,980$0$3,496,919
93$8,112,399$607,636$0$3,709,024
94$8,815,724$513,271$0$3,953,839
95$9,586,877$410,371$0$4,222,575
96$10,432,655$298,395$0$4,517,793
97$11,360,542$176,773$0$4,842,327
98$12,378,781$44,898$0$5,199,314
99$13,496,454$0$0$5,592,220
100$14,723,563$0$0$6,078,727