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%14.9%
1 years$102,398$101,486$100,596$99,727$98,879$96,883
2 years$50,692$49,748$48,833$47,946$47,085$45,083
3 years$33,459$32,511$31,598$30,719$29,873$27,927
4 years$24,844$23,899$22,995$22,132$21,306$19,431
5 years$19,677$18,737$17,845$16,999$16,196$14,398
6 years$16,233$15,300$14,422$13,594$12,815$11,096
7 years$13,774$12,849$11,985$11,177$10,422$8,781
8 years$11,930$11,014$10,164$9,376$8,646$7,084
9 years$10,497$9,590$8,754$7,986$7,282$5,796
10 years$9,352$8,453$7,632$6,884$6,204$4,795
11 years$8,415$7,525$6,719$5,991$5,336$4,001
12 years$7,635$6,754$5,963$5,255$4,624$3,361
13 years$6,975$6,104$5,328$4,640$4,032$2,840
14 years$6,410$5,548$4,787$4,118$3,535$2,410
15 years$5,921$5,068$4,322$3,673$3,112$2,053
16 years$5,494$4,650$3,918$3,289$2,750$1,754
17 years$5,117$4,283$3,566$2,955$2,439$1,503
18 years$4,782$3,957$3,255$2,663$2,168$1,291
19 years$4,483$3,668$2,980$2,406$1,933$1,111
20 years$4,214$3,408$2,735$2,179$1,726$957
21 years$3,971$3,174$2,515$1,978$1,545$826
22 years$3,751$2,963$2,318$1,798$1,385$713
23 years$3,550$2,771$2,141$1,638$1,243$617
24 years$3,366$2,597$1,980$1,494$1,117$534
25 years$3,197$2,437$1,834$1,364$1,005$463
26 years$3,041$2,290$1,701$1,247$906$401
27 years$2,897$2,155$1,579$1,142$817$348
28 years$2,764$2,031$1,468$1,046$737$302
29 years$2,640$1,916$1,366$959$665$262
30 years$2,524$1,810$1,272$880$601$227
31 years$2,416$1,711$1,186$809$543$197
32 years$2,315$1,619$1,107$743$492$172
33 years$2,221$1,533$1,033$683$445$149
34 years$2,132$1,453$966$629$403$130
35 years$2,048$1,378$903$579$365$113
36 years$1,969$1,308$844$533$331$98
37 years$1,895$1,242$790$491$300$85
38 years$1,825$1,180$740$453$272$74
39 years$1,758$1,123$693$417$246$64
40 years$1,695$1,068$650$385$223$56
41 years$1,635$1,017$609$355$203$49
42 years$1,579$968$572$328$184$42
43 years$1,525$922$536$303$167$37
44 years$1,473$879$504$279$152$32
45 years$1,424$839$473$258$138$28
46 years$1,378$800$444$238$125$24
47 years$1,333$763$417$220$113$21
48 years$1,290$729$392$203$103$18
49 years$1,250$696$369$188$94$16
50 years$1,211$665$346$174$85$14

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 $6,758 every year, while hoping to spend $39,748 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: 81/10/9 Blend
67$1,240,000$1,240,000$1,240,000$1,240,000
68$1,373,451$1,307,731$1,288,511$1,482,370
69$1,471,251$1,329,518$1,289,384$1,576,496
70$1,577,695$1,351,041$1,288,955$1,673,848
71$1,693,622$1,372,244$1,287,137$1,779,506
72$1,819,956$1,393,068$1,283,841$1,894,281
73$1,957,714$1,413,451$1,278,972$2,019,064
74$2,108,016$1,433,325$1,272,432$2,154,839
75$2,272,092$1,452,617$1,264,117$2,302,688
76$2,451,300$1,471,249$1,253,920$2,463,804
77$2,647,131$1,489,139$1,241,725$2,639,499
78$2,861,230$1,506,199$1,227,414$2,831,221
79$3,095,406$1,522,333$1,210,863$3,040,564
80$3,351,652$1,537,441$1,191,941$3,269,283
81$3,632,160$1,551,416$1,170,511$3,519,313
82$3,939,348$1,564,143$1,146,431$3,792,785
83$4,275,875$1,575,499$1,119,550$4,092,047
84$4,644,671$1,585,356$1,089,711$4,419,687
85$5,048,963$1,593,574$1,056,753$4,778,554
86$5,492,305$1,600,007$1,020,501$5,171,791
87$5,978,611$1,604,497$980,779$5,602,858
88$6,512,192$1,606,880$937,397$6,075,569
89$7,097,796$1,606,978$890,161$6,594,125
90$7,740,655$1,604,604$838,865$7,163,158
91$8,446,531$1,599,558$783,296$7,787,769
92$9,221,770$1,591,630$723,229$8,473,583
93$10,073,365$1,580,594$658,432$9,226,795
94$11,009,018$1,566,213$588,659$10,054,233
95$12,037,215$1,548,235$513,656$10,963,422
96$13,167,305$1,526,392$433,158$11,962,654
97$14,409,586$1,500,401$346,884$13,061,066
98$15,775,404$1,469,962$254,546$14,268,729
99$17,277,262$1,434,756$155,840$15,596,739
100$18,928,931$1,394,448$50,449$17,057,327