Can I retire at age 68 with 1,320,000?

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 $1,320,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.9%
1 years$109,004$108,033$107,086$106,161$105,259$103,558
2 years$53,963$52,958$51,984$51,039$50,123$48,414
3 years$35,618$34,608$33,637$32,701$31,800$30,136
4 years$26,447$25,441$24,479$23,559$22,680$21,074
5 years$20,946$19,946$18,997$18,096$17,241$15,698
6 years$17,280$16,287$15,352$14,471$13,642$12,163
7 years$14,662$13,678$12,758$11,898$11,095$9,681
8 years$12,700$11,725$10,820$9,981$9,204$7,855
9 years$11,175$10,208$9,319$8,501$7,751$6,465
10 years$9,955$8,998$8,124$7,328$6,604$5,381
11 years$8,958$8,011$7,153$6,378$5,680$4,519
12 years$8,127$7,190$6,348$5,594$4,922$3,821
13 years$7,425$6,498$5,671$4,939$4,292$3,249
14 years$6,824$5,906$5,096$4,384$3,763$2,776
15 years$6,303$5,395$4,601$3,910$3,313$2,381
16 years$5,848$4,950$4,171$3,501$2,928$2,049
17 years$5,447$4,559$3,796$3,146$2,596$1,769
18 years$5,091$4,213$3,465$2,835$2,308$1,530
19 years$4,772$3,904$3,172$2,561$2,057$1,326
20 years$4,486$3,628$2,911$2,320$1,838$1,151
21 years$4,228$3,379$2,678$2,105$1,645$1,001
22 years$3,993$3,154$2,468$1,914$1,474$871
23 years$3,779$2,950$2,279$1,743$1,323$759
24 years$3,583$2,764$2,107$1,590$1,189$662
25 years$3,403$2,594$1,952$1,452$1,070$578
26 years$3,237$2,438$1,810$1,328$964$505
27 years$3,084$2,294$1,681$1,215$869$442
28 years$2,942$2,162$1,563$1,114$784$386
29 years$2,810$2,040$1,454$1,021$708$338
30 years$2,687$1,926$1,355$937$640$296
31 years$2,572$1,821$1,263$861$579$259
32 years$2,465$1,723$1,178$791$523$227
33 years$2,364$1,632$1,100$727$474$199
34 years$2,269$1,546$1,028$669$429$174
35 years$2,180$1,467$961$616$388$153
36 years$2,096$1,392$899$567$352$134
37 years$2,017$1,322$841$523$319$118
38 years$1,943$1,257$788$482$289$103
39 years$1,872$1,195$738$444$262$90
40 years$1,805$1,137$692$410$238$79
41 years$1,741$1,082$649$378$216$70
42 years$1,681$1,031$609$349$196$61
43 years$1,623$982$571$322$178$54
44 years$1,568$936$536$297$161$47
45 years$1,516$893$503$275$146$41
46 years$1,466$852$473$254$133$36
47 years$1,419$813$444$234$121$32
48 years$1,374$776$417$217$110$28
49 years$1,330$741$392$200$100$25
50 years$1,289$708$369$185$90$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $1,320,000, adding $4,411 every year, while hoping to spend $56,481 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: 78/15/7 Blend
67$1,320,000$1,320,000$1,320,000$1,320,000
68$1,459,190$1,389,230$1,368,770$1,571,474
69$1,547,932$1,397,207$1,354,528$1,653,748
70$1,643,833$1,403,682$1,337,917$1,736,166
71$1,747,563$1,408,521$1,318,796$1,824,881
72$1,859,859$1,411,583$1,297,021$1,920,493
73$1,981,532$1,412,718$1,272,438$2,023,663
74$2,113,472$1,411,766$1,244,889$2,135,123
75$2,256,660$1,408,556$1,214,206$2,255,674
76$2,412,173$1,402,909$1,180,216$2,386,202
77$2,581,196$1,394,633$1,142,735$2,527,684
78$2,765,034$1,383,525$1,101,572$2,681,194
79$2,965,120$1,369,371$1,056,527$2,847,918
80$3,183,034$1,351,942$1,007,393$3,029,161
81$3,420,513$1,330,996$953,949$3,226,364
82$3,679,467$1,306,278$895,969$3,441,112
83$3,962,003$1,277,515$833,214$3,675,155
84$4,270,434$1,244,420$765,433$3,930,420
85$4,607,311$1,206,689$692,368$4,209,032
86$4,975,440$1,164,001$613,746$4,513,334
87$5,377,912$1,116,013$529,283$4,845,907
88$5,818,127$1,062,366$438,682$5,209,598
89$6,299,832$1,002,678$341,634$5,607,544
90$6,827,150$936,544$237,814$6,043,203
91$7,404,624$863,540$126,886$6,520,388
92$8,037,256$783,213$8,496$7,043,303
93$8,730,552$695,087$0$7,616,580
94$9,490,580$598,658$0$8,254,129
95$10,324,021$493,394$0$8,954,027
96$11,238,232$378,731$0$9,721,876
97$12,241,320$254,077$0$10,564,550
98$13,342,212$118,804$0$11,489,623
99$14,550,741$0$0$12,505,445
100$15,877,740$0$0$13,625,796