Can I retire at age 68 with 1,340,000?

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 $1,340,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$110,656$109,670$108,709$107,770$106,853$105,300
2 years$54,780$53,760$52,771$51,813$50,883$49,321
3 years$36,157$35,133$34,146$33,197$32,282$30,761
4 years$26,848$25,826$24,850$23,916$23,024$21,554
5 years$21,263$20,248$19,285$18,370$17,502$16,089
6 years$17,542$16,534$15,585$14,691$13,849$12,493
7 years$14,885$13,885$12,951$12,078$11,263$9,966
8 years$12,893$11,902$10,983$10,132$9,344$8,105
9 years$11,344$10,363$9,460$8,630$7,869$6,687
10 years$10,106$9,135$8,248$7,439$6,705$5,580
11 years$9,093$8,132$7,261$6,474$5,766$4,697
12 years$8,250$7,299$6,444$5,679$4,997$3,982
13 years$7,538$6,596$5,757$5,014$4,357$3,395
14 years$6,927$5,996$5,173$4,451$3,820$2,908
15 years$6,399$5,477$4,670$3,969$3,363$2,502
16 years$5,937$5,025$4,234$3,554$2,972$2,159
17 years$5,529$4,628$3,853$3,193$2,635$1,868
18 years$5,168$4,276$3,517$2,878$2,343$1,621
19 years$4,845$3,963$3,220$2,600$2,089$1,409
20 years$4,554$3,683$2,955$2,355$1,866$1,227
21 years$4,292$3,430$2,718$2,137$1,670$1,070
22 years$4,053$3,202$2,505$1,943$1,496$934
23 years$3,836$2,995$2,313$1,770$1,343$817
24 years$3,637$2,806$2,139$1,614$1,207$715
25 years$3,455$2,633$1,981$1,474$1,086$626
26 years$3,286$2,475$1,838$1,348$979$549
27 years$3,131$2,329$1,706$1,234$882$481
28 years$2,987$2,195$1,586$1,130$796$422
29 years$2,853$2,071$1,476$1,037$719$371
30 years$2,728$1,955$1,375$951$650$326
31 years$2,611$1,849$1,282$874$587$286
32 years$2,502$1,749$1,196$803$531$251
33 years$2,400$1,656$1,117$738$481$221
34 years$2,304$1,570$1,043$679$435$194
35 years$2,213$1,489$976$625$394$171
36 years$2,128$1,413$913$576$357$150
37 years$2,048$1,342$854$531$324$132
38 years$1,972$1,276$800$489$294$117
39 years$1,900$1,213$749$451$266$103
40 years$1,832$1,154$702$416$241$90
41 years$1,767$1,099$659$384$219$79
42 years$1,706$1,046$618$354$199$70
43 years$1,648$997$580$327$180$62
44 years$1,592$950$544$302$164$54
45 years$1,539$906$511$279$149$48
46 years$1,489$864$480$258$135$42
47 years$1,441$825$451$238$123$37
48 years$1,394$788$424$220$111$33
49 years$1,350$752$398$203$101$29
50 years$1,308$718$374$188$92$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $1,340,000, adding $3,841 every year, while hoping to spend $54,090 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: 46/49/5 Blend
67$1,340,000$1,340,000$1,340,000$1,340,000
68$1,480,642$1,409,622$1,388,852$1,546,608
69$1,574,116$1,421,142$1,377,827$1,603,810
70$1,675,312$1,431,414$1,364,620$1,659,837
71$1,784,959$1,440,319$1,349,101$1,719,331
72$1,903,862$1,447,732$1,331,133$1,782,627
73$2,032,903$1,453,518$1,310,573$1,850,096
74$2,173,055$1,457,535$1,287,272$1,922,152
75$2,325,384$1,459,632$1,261,074$1,999,248
76$2,491,068$1,459,649$1,231,814$2,081,892
77$2,671,399$1,457,413$1,199,322$2,170,641
78$2,867,800$1,452,745$1,163,418$2,266,114
79$3,081,838$1,445,452$1,123,914$2,368,998
80$3,315,235$1,435,329$1,080,615$2,480,051
81$3,569,889$1,422,160$1,033,316$2,600,112
82$3,847,887$1,405,716$981,802$2,730,111
83$4,151,529$1,385,753$925,849$2,871,077
84$4,483,343$1,362,013$865,223$3,024,148
85$4,846,115$1,334,223$799,679$3,190,583
86$5,242,913$1,302,093$728,962$3,371,775
87$5,677,112$1,265,318$652,805$3,569,264
88$6,152,432$1,223,573$570,928$3,784,754
89$6,672,966$1,176,514$483,040$4,020,131
90$7,243,223$1,123,778$388,837$4,277,476
91$7,868,170$1,064,982$288,001$4,559,093
92$8,553,275$999,717$180,201$4,867,530
93$9,304,561$927,555$65,089$5,205,600
94$10,128,662$848,041$0$5,576,414
95$11,032,884$760,694$0$5,986,492
96$12,025,277$665,007$0$6,440,457
97$13,114,706$560,443$0$6,939,051
98$14,310,937$446,435$0$7,486,933
99$15,624,726$322,384$0$8,089,249
100$17,067,926$187,659$0$8,751,682