Can I retire at age 68 with 1,420,000?

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 $1,420,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$117,262$116,218$115,199$114,204$113,233$111,633
2 years$58,051$56,969$55,922$54,906$53,920$52,312
3 years$38,316$37,230$36,185$35,179$34,209$32,642
4 years$28,451$27,368$26,333$25,344$24,398$22,884
5 years$22,533$21,457$20,436$19,467$18,547$17,090
6 years$18,589$17,521$16,515$15,568$14,676$13,278
7 years$15,773$14,714$13,724$12,799$11,935$10,598
8 years$13,662$12,613$11,639$10,737$9,902$8,623
9 years$12,021$10,982$10,025$9,145$8,339$7,119
10 years$10,709$9,680$8,740$7,883$7,105$5,944
11 years$9,636$8,617$7,694$6,861$6,110$5,006
12 years$8,743$7,735$6,829$6,018$5,295$4,247
13 years$7,988$6,990$6,101$5,313$4,617$3,624
14 years$7,341$6,354$5,482$4,716$4,048$3,106
15 years$6,781$5,804$4,949$4,206$3,564$2,674
16 years$6,291$5,325$4,487$3,766$3,150$2,309
17 years$5,860$4,904$4,083$3,384$2,793$2,000
18 years$5,476$4,532$3,727$3,049$2,483$1,736
19 years$5,134$4,200$3,412$2,755$2,213$1,510
20 years$4,826$3,903$3,132$2,496$1,977$1,316
21 years$4,548$3,635$2,880$2,265$1,769$1,149
22 years$4,295$3,393$2,655$2,059$1,586$1,004
23 years$4,065$3,174$2,451$1,875$1,424$878
24 years$3,855$2,974$2,267$1,711$1,280$769
25 years$3,661$2,791$2,100$1,562$1,151$674
26 years$3,483$2,623$1,947$1,428$1,037$591
27 years$3,318$2,468$1,808$1,307$935$519
28 years$3,165$2,326$1,681$1,198$844$456
29 years$3,023$2,194$1,564$1,098$762$400
30 years$2,891$2,072$1,457$1,008$688$352
31 years$2,767$1,959$1,358$926$622$310
32 years$2,651$1,854$1,267$851$563$272
33 years$2,543$1,755$1,183$782$509$240
34 years$2,441$1,664$1,106$720$461$211
35 years$2,346$1,578$1,034$663$418$186
36 years$2,255$1,498$967$610$379$164
37 years$2,170$1,422$905$562$343$144
38 years$2,090$1,352$848$518$311$127
39 years$2,014$1,285$794$478$282$112
40 years$1,941$1,223$744$441$256$98
41 years$1,873$1,164$698$407$232$87
42 years$1,808$1,109$655$375$211$76
43 years$1,746$1,056$614$347$191$67
44 years$1,687$1,007$577$320$173$59
45 years$1,631$960$541$295$158$52
46 years$1,578$916$509$273$143$46
47 years$1,527$874$478$252$130$41
48 years$1,478$835$449$233$118$36
49 years$1,431$797$422$215$107$32
50 years$1,386$761$397$199$97$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $1,420,000, adding $2,567 every year, while hoping to spend $40,059 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: 49/22/29 Blend
67$1,420,000$1,420,000$1,420,000$1,420,000
68$1,567,488$1,492,228$1,470,218$1,631,248
69$1,684,749$1,522,725$1,476,848$1,706,782
70$1,812,628$1,553,373$1,482,357$1,784,654
71$1,952,167$1,584,138$1,486,666$1,868,491
72$2,104,509$1,614,983$1,489,691$1,958,878
73$2,270,917$1,645,865$1,491,343$2,056,461
74$2,452,779$1,676,740$1,491,531$2,161,952
75$2,651,622$1,707,561$1,490,158$2,276,135
76$2,869,131$1,738,274$1,487,121$2,399,877
77$3,107,157$1,768,824$1,482,315$2,534,134
78$3,367,741$1,799,151$1,475,627$2,679,959
79$3,653,130$1,829,189$1,466,939$2,838,517
80$3,965,798$1,858,867$1,456,130$3,011,090
81$4,308,469$1,888,112$1,443,071$3,199,094
82$4,684,145$1,916,841$1,427,626$3,404,090
83$5,096,131$1,944,969$1,409,654$3,627,800
84$5,548,066$1,972,403$1,389,007$3,872,125
85$6,043,961$1,999,043$1,365,531$4,139,161
86$6,588,232$2,024,783$1,339,064$4,431,220
87$7,185,744$2,049,510$1,309,434$4,750,851
88$7,841,856$2,073,102$1,276,466$5,100,867
89$8,562,471$2,095,429$1,239,974$5,484,370
90$9,354,092$2,116,354$1,199,762$5,904,783
91$10,223,883$2,135,730$1,155,628$6,365,878
92$11,179,737$2,153,398$1,107,359$6,871,818
93$12,230,348$2,169,192$1,054,733$7,427,192
94$13,385,295$2,182,934$997,518$8,037,063
95$14,655,131$2,194,434$935,472$8,707,012
96$16,051,484$2,203,491$868,339$9,443,196
97$17,587,162$2,209,889$795,856$10,252,402
98$19,276,281$2,213,401$717,744$11,142,117
99$21,134,389$2,213,786$633,716$12,120,595
100$23,178,620$2,210,784$543,469$13,196,938