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

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 $1,240,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.6%
1 years$102,398$101,486$100,596$99,727$98,879$96,607
2 years$50,692$49,748$48,833$47,946$47,085$44,808
3 years$33,459$32,511$31,598$30,719$29,873$27,662
4 years$24,844$23,899$22,995$22,132$21,306$19,179
5 years$19,677$18,737$17,845$16,999$16,196$14,159
6 years$16,233$15,300$14,422$13,594$12,815$10,870
7 years$13,774$12,849$11,985$11,177$10,422$8,569
8 years$11,930$11,014$10,164$9,376$8,646$6,885
9 years$10,497$9,590$8,754$7,986$7,282$5,610
10 years$9,352$8,453$7,632$6,884$6,204$4,621
11 years$8,415$7,525$6,719$5,991$5,336$3,838
12 years$7,635$6,754$5,963$5,255$4,624$3,210
13 years$6,975$6,104$5,328$4,640$4,032$2,699
14 years$6,410$5,548$4,787$4,118$3,535$2,280
15 years$5,921$5,068$4,322$3,673$3,112$1,933
16 years$5,494$4,650$3,918$3,289$2,750$1,643
17 years$5,117$4,283$3,566$2,955$2,439$1,401
18 years$4,782$3,957$3,255$2,663$2,168$1,197
19 years$4,483$3,668$2,980$2,406$1,933$1,024
20 years$4,214$3,408$2,735$2,179$1,726$878
21 years$3,971$3,174$2,515$1,978$1,545$754
22 years$3,751$2,963$2,318$1,798$1,385$648
23 years$3,550$2,771$2,141$1,638$1,243$557
24 years$3,366$2,597$1,980$1,494$1,117$479
25 years$3,197$2,437$1,834$1,364$1,005$413
26 years$3,041$2,290$1,701$1,247$906$356
27 years$2,897$2,155$1,579$1,142$817$307
28 years$2,764$2,031$1,468$1,046$737$265
29 years$2,640$1,916$1,366$959$665$229
30 years$2,524$1,810$1,272$880$601$197
31 years$2,416$1,711$1,186$809$543$170
32 years$2,315$1,619$1,107$743$492$147
33 years$2,221$1,533$1,033$683$445$127
34 years$2,132$1,453$966$629$403$110
35 years$2,048$1,378$903$579$365$95
36 years$1,969$1,308$844$533$331$82
37 years$1,895$1,242$790$491$300$71
38 years$1,825$1,180$740$453$272$61
39 years$1,758$1,123$693$417$246$53
40 years$1,695$1,068$650$385$223$46
41 years$1,635$1,017$609$355$203$40
42 years$1,579$968$572$328$184$34
43 years$1,525$922$536$303$167$30
44 years$1,473$879$504$279$152$26
45 years$1,424$839$473$258$138$22
46 years$1,378$800$444$238$125$19
47 years$1,333$763$417$220$113$17
48 years$1,290$729$392$203$103$14
49 years$1,250$696$369$188$94$12
50 years$1,211$665$346$174$85$11

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 $4,680 every year, while hoping to spend $59,217 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: 60/31/9 Blend
67$1,240,000$1,240,000$1,240,000$1,240,000
68$1,371,307$1,305,587$1,286,367$1,450,541
69$1,448,174$1,306,555$1,266,454$1,505,214
70$1,530,897$1,305,585$1,243,889$1,557,653
71$1,620,010$1,302,520$1,218,521$1,613,381
72$1,716,101$1,297,194$1,190,192$1,672,717
73$1,819,815$1,289,428$1,158,735$1,736,014
74$1,931,861$1,279,035$1,123,977$1,803,665
75$2,053,018$1,265,815$1,085,738$1,876,102
76$2,184,143$1,249,556$1,043,827$1,953,806
77$2,326,176$1,230,035$998,046$2,037,308
78$2,480,153$1,207,014$948,187$2,127,196
79$2,647,212$1,180,241$894,035$2,224,120
80$2,828,605$1,149,450$835,362$2,328,801
81$3,025,708$1,114,358$771,932$2,442,036
82$3,240,036$1,074,668$703,498$2,564,706
83$3,473,255$1,030,062$629,800$2,697,786
84$3,727,199$980,207$550,570$2,842,355
85$4,003,884$924,748$465,526$2,999,606
86$4,305,532$863,312$374,372$3,170,857
87$4,634,585$795,503$276,803$3,357,568
88$4,993,733$720,903$172,496$3,561,351
89$5,385,937$639,070$61,117$3,783,988
90$5,814,455$549,537$0$4,027,452
91$6,282,874$451,810$0$4,299,464
92$6,795,146$345,367$0$4,603,511
93$7,355,620$229,659$0$4,936,414
94$7,969,084$104,103$0$5,301,150
95$8,640,812$0$0$5,701,006
96$9,376,610$0$0$6,150,498
97$10,182,875$0$0$6,682,047
98$11,066,650$0$0$7,264,796
99$12,035,690$0$0$7,903,872
100$13,098,540$0$0$8,604,924