Can I retire at age 68 with 1,520,000?

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 $1,520,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$125,520$124,402$123,311$122,247$121,207$118,857
2 years$62,139$60,981$59,860$58,772$57,718$55,360
3 years$41,014$39,852$38,733$37,656$36,618$34,326
4 years$30,454$29,295$28,188$27,129$26,117$23,907
5 years$24,120$22,968$21,875$20,838$19,853$17,733
6 years$19,898$18,755$17,678$16,664$15,709$13,681
7 years$16,884$15,751$14,691$13,700$12,776$10,840
8 years$14,624$13,501$12,459$11,493$10,599$8,755
9 years$12,868$11,755$10,731$9,789$8,926$7,172
10 years$11,463$10,362$9,355$8,439$7,605$5,940
11 years$10,315$9,224$8,236$7,344$6,541$4,963
12 years$9,359$8,279$7,310$6,442$5,668$4,175
13 years$8,550$7,482$6,531$5,687$4,943$3,532
14 years$7,858$6,801$5,868$5,048$4,333$3,001
15 years$7,258$6,213$5,298$4,502$3,815$2,560
16 years$6,734$5,700$4,803$4,031$3,372$2,191
17 years$6,272$5,250$4,371$3,622$2,989$1,880
18 years$5,862$4,851$3,990$3,264$2,658$1,617
19 years$5,495$4,496$3,653$2,950$2,369$1,393
20 years$5,166$4,178$3,352$2,671$2,116$1,202
21 years$4,868$3,891$3,083$2,424$1,894$1,039
22 years$4,598$3,632$2,842$2,204$1,698$899
23 years$4,352$3,397$2,624$2,008$1,524$779
24 years$4,126$3,183$2,427$1,831$1,370$675
25 years$3,919$2,987$2,248$1,672$1,232$586
26 years$3,728$2,807$2,084$1,529$1,110$508
27 years$3,551$2,642$1,936$1,399$1,001$442
28 years$3,388$2,490$1,799$1,282$903$384
29 years$3,236$2,349$1,675$1,176$815$334
30 years$3,094$2,218$1,560$1,079$737$290
31 years$2,962$2,097$1,454$991$666$252
32 years$2,838$1,984$1,357$911$603$220
33 years$2,722$1,879$1,267$838$545$191
34 years$2,613$1,781$1,184$771$494$166
35 years$2,511$1,689$1,107$709$447$145
36 years$2,414$1,603$1,035$653$405$126
37 years$2,323$1,523$969$602$367$110
38 years$2,237$1,447$907$555$333$96
39 years$2,155$1,376$850$512$302$83
40 years$2,078$1,309$797$472$274$73
41 years$2,005$1,246$747$435$248$63
42 years$1,935$1,187$701$402$225$55
43 years$1,869$1,131$658$371$205$48
44 years$1,806$1,078$617$342$186$42
45 years$1,746$1,028$580$316$169$37
46 years$1,689$981$544$292$153$32
47 years$1,634$936$511$270$139$28
48 years$1,582$893$481$249$126$24
49 years$1,532$853$452$231$115$21
50 years$1,484$815$425$213$104$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $1,520,000, adding $6,248 every year, while hoping to spend $32,825 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: 51/41/8 Blend
67$1,520,000$1,520,000$1,520,000$1,520,000
68$1,681,485$1,600,925$1,577,365$1,763,504
69$1,818,071$1,644,445$1,595,281$1,863,561
70$1,967,488$1,688,997$1,612,697$1,968,220
71$2,131,012$1,734,597$1,629,562$2,081,215
72$2,310,044$1,781,261$1,645,821$2,203,337
73$2,506,130$1,829,004$1,661,418$2,335,455
74$2,720,971$1,877,842$1,676,291$2,478,527
75$2,956,441$1,927,787$1,690,378$2,633,608
76$3,214,604$1,978,855$1,703,612$2,801,858
77$3,497,733$2,031,058$1,715,923$2,984,554
78$3,808,331$2,084,409$1,727,235$3,183,103
79$4,149,156$2,138,920$1,737,473$3,399,053
80$4,523,245$2,194,602$1,746,553$3,634,110
81$4,933,943$2,251,465$1,754,390$3,890,150
82$5,384,937$2,309,518$1,760,893$4,169,242
83$5,880,285$2,368,769$1,765,967$4,473,664
84$6,424,460$2,429,225$1,769,514$4,805,923
85$7,022,389$2,490,892$1,771,427$5,168,783
86$7,679,501$2,553,773$1,771,597$5,565,286
87$8,401,773$2,617,871$1,769,909$5,998,786
88$9,195,795$2,683,188$1,766,242$6,472,974
89$10,068,824$2,749,722$1,760,469$6,991,921
90$11,028,856$2,817,470$1,752,456$7,560,106
91$12,084,701$2,886,428$1,742,065$8,182,469
92$13,246,066$2,956,588$1,729,150$8,864,450
93$14,523,644$3,027,941$1,713,557$9,612,041
94$15,929,220$3,100,474$1,695,125$10,431,848
95$17,475,776$3,174,173$1,673,687$11,331,147
96$19,177,617$3,249,019$1,649,067$12,317,954
97$21,050,503$3,324,990$1,621,080$13,401,105
98$23,111,803$3,402,063$1,589,534$14,590,332
99$25,380,650$3,480,207$1,554,227$15,896,362
100$27,878,131$3,559,392$1,514,948$17,331,013