Can I retire at age 68 with 1,480,000?

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 $1,480,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$122,217$121,128$120,066$119,030$118,017$115,777
2 years$60,503$59,377$58,285$57,226$56,199$53,950
3 years$39,935$38,803$37,714$36,665$35,655$33,468
4 years$29,653$28,525$27,446$26,415$25,429$23,321
5 years$23,485$22,364$21,299$20,289$19,331$17,308
6 years$19,375$18,262$17,213$16,226$15,296$13,360
7 years$16,440$15,336$14,304$13,340$12,440$10,592
8 years$14,239$13,146$12,131$11,191$10,320$8,559
9 years$12,529$11,446$10,448$9,532$8,691$7,016
10 years$11,162$10,089$9,109$8,217$7,405$5,815
11 years$10,044$8,982$8,020$7,151$6,369$4,861
12 years$9,112$8,061$7,117$6,272$5,519$4,092
13 years$8,325$7,285$6,359$5,537$4,813$3,464
14 years$7,651$6,622$5,713$4,916$4,219$2,945
15 years$7,067$6,049$5,158$4,384$3,714$2,514
16 years$6,557$5,550$4,677$3,925$3,283$2,153
17 years$6,107$5,111$4,256$3,527$2,911$1,849
18 years$5,708$4,723$3,885$3,178$2,588$1,591
19 years$5,351$4,377$3,556$2,872$2,307$1,372
20 years$5,030$4,068$3,264$2,601$2,061$1,185
21 years$4,740$3,789$3,002$2,361$1,844$1,025
22 years$4,477$3,537$2,767$2,146$1,653$887
23 years$4,237$3,308$2,555$1,955$1,484$769
24 years$4,017$3,099$2,363$1,783$1,334$667
25 years$3,816$2,909$2,188$1,628$1,200$579
26 years$3,630$2,734$2,030$1,489$1,081$503
27 years$3,458$2,573$1,885$1,363$975$438
28 years$3,299$2,424$1,752$1,248$879$381
29 years$3,151$2,287$1,630$1,145$794$331
30 years$3,013$2,160$1,519$1,051$717$288
31 years$2,884$2,042$1,416$965$649$251
32 years$2,763$1,932$1,321$887$587$219
33 years$2,650$1,829$1,233$816$531$190
34 years$2,544$1,734$1,152$750$481$166
35 years$2,445$1,645$1,077$691$435$145
36 years$2,351$1,561$1,008$636$395$126
37 years$2,262$1,483$943$586$358$110
38 years$2,178$1,409$883$540$324$96
39 years$2,099$1,340$828$498$294$84
40 years$2,023$1,275$776$459$267$73
41 years$1,952$1,213$727$424$242$64
42 years$1,884$1,156$682$391$220$55
43 years$1,820$1,101$640$361$199$48
44 years$1,758$1,050$601$333$181$42
45 years$1,700$1,001$564$308$164$37
46 years$1,644$955$530$284$149$32
47 years$1,591$911$498$263$135$28
48 years$1,540$870$468$243$123$24
49 years$1,492$831$440$224$112$21
50 years$1,445$793$414$207$101$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $1,480,000, adding $4,670 every year, while hoping to spend $34,053 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: 45/39/16 Blend
67$1,480,000$1,480,000$1,480,000$1,480,000
68$1,635,777$1,557,337$1,534,397$1,701,693
69$1,766,394$1,597,414$1,549,567$1,788,259
70$1,909,193$1,638,314$1,564,104$1,878,290
71$2,065,380$1,680,041$1,577,951$1,975,186
72$2,236,284$1,722,598$1,591,047$2,079,599
73$2,423,367$1,765,988$1,603,330$2,192,244
74$2,628,241$1,810,211$1,614,732$2,313,910
75$2,852,679$1,855,269$1,625,183$2,445,464
76$3,098,635$1,901,160$1,634,609$2,587,864
77$3,368,260$1,947,882$1,642,933$2,742,161
78$3,663,925$1,995,430$1,650,074$2,909,518
79$3,988,239$2,043,799$1,655,944$3,091,210
80$4,344,076$2,092,983$1,660,456$3,288,647
81$4,734,603$2,142,970$1,663,512$3,503,378
82$5,163,308$2,193,752$1,665,016$3,737,113
83$5,634,034$2,245,313$1,664,861$3,991,735
84$6,151,011$2,297,639$1,662,940$4,269,317
85$6,718,902$2,350,712$1,659,137$4,572,146
86$7,342,844$2,404,511$1,653,332$4,902,740
87$8,028,494$2,459,012$1,645,399$5,263,876
88$8,782,086$2,514,189$1,635,205$5,658,610
89$9,610,487$2,570,012$1,622,613$6,090,315
90$10,521,263$2,626,449$1,607,476$6,562,703
91$11,522,749$2,683,462$1,589,643$7,079,870
92$12,624,128$2,741,010$1,568,955$7,646,325
93$13,835,519$2,799,049$1,545,245$8,267,042
94$15,168,069$2,857,530$1,518,338$8,947,498
95$16,634,061$2,916,398$1,488,051$9,693,733
96$18,247,028$2,975,594$1,454,194$10,512,402
97$20,021,880$3,035,054$1,416,565$11,410,841
98$21,975,048$3,094,708$1,374,956$12,397,133
99$24,124,634$3,154,479$1,329,148$13,480,188
100$26,490,583$3,214,286$1,278,911$14,669,826