Can I retire at age 68 with 1,580,000?

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 $1,580,000?

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$130,475$129,313$128,179$127,072$125,991$123,549
2 years$64,592$63,389$62,223$61,092$59,996$57,545
3 years$42,633$41,425$40,262$39,142$38,064$35,681
4 years$31,656$30,452$29,301$28,200$27,147$24,851
5 years$25,072$23,875$22,738$21,660$20,637$18,433
6 years$20,684$19,495$18,376$17,322$16,329$14,221
7 years$17,550$16,372$15,271$14,241$13,280$11,268
8 years$15,202$14,034$12,951$11,947$11,017$9,100
9 years$13,376$12,219$11,154$10,176$9,278$7,455
10 years$11,916$10,771$9,725$8,772$7,905$6,175
11 years$10,722$9,588$8,561$7,634$6,799$5,159
12 years$9,728$8,606$7,598$6,696$5,892$4,340
13 years$8,888$7,777$6,788$5,912$5,138$3,671
14 years$8,168$7,069$6,099$5,248$4,504$3,120
15 years$7,545$6,458$5,507$4,680$3,965$2,661
16 years$7,000$5,925$4,993$4,190$3,505$2,277
17 years$6,520$5,457$4,543$3,765$3,107$1,954
18 years$6,093$5,042$4,147$3,393$2,763$1,681
19 years$5,712$4,673$3,797$3,066$2,463$1,448
20 years$5,370$4,343$3,484$2,777$2,200$1,250
21 years$5,060$4,045$3,205$2,520$1,969$1,080
22 years$4,779$3,776$2,954$2,291$1,765$934
23 years$4,523$3,531$2,727$2,087$1,584$809
24 years$4,289$3,309$2,522$1,903$1,424$702
25 years$4,073$3,105$2,336$1,738$1,281$609
26 years$3,875$2,918$2,167$1,589$1,154$528
27 years$3,692$2,746$2,012$1,455$1,040$459
28 years$3,521$2,588$1,870$1,333$939$399
29 years$3,363$2,441$1,741$1,222$848$347
30 years$3,216$2,306$1,621$1,122$766$302
31 years$3,079$2,180$1,512$1,030$692$262
32 years$2,950$2,062$1,410$947$626$228
33 years$2,830$1,953$1,317$871$567$199
34 years$2,716$1,851$1,230$801$513$173
35 years$2,610$1,756$1,150$737$465$151
36 years$2,509$1,666$1,076$679$421$131
37 years$2,415$1,583$1,007$626$382$114
38 years$2,325$1,504$943$577$346$100
39 years$2,240$1,430$884$532$314$87
40 years$2,160$1,361$828$491$285$76
41 years$2,084$1,295$777$453$258$66
42 years$2,012$1,234$728$418$234$57
43 years$1,943$1,175$684$386$213$50
44 years$1,877$1,120$642$356$193$44
45 years$1,815$1,068$603$329$175$38
46 years$1,755$1,019$566$304$159$33
47 years$1,699$973$532$281$144$29
48 years$1,644$929$500$259$131$25
49 years$1,592$887$470$240$119$22
50 years$1,543$847$441$221$108$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $1,580,000, adding $6,589 every year, while hoping to spend $46,888 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: 41/33/26 Blend
67$1,580,000$1,580,000$1,580,000$1,580,000
68$1,747,957$1,664,217$1,639,727$1,806,021
69$1,876,360$1,695,875$1,644,769$1,880,131
70$2,016,288$1,727,513$1,648,409$1,955,389
71$2,168,869$1,759,080$1,650,549$2,035,939
72$2,335,340$1,790,522$1,651,090$2,122,295
73$2,517,067$1,821,780$1,649,924$2,215,025
74$2,715,552$1,852,790$1,646,939$2,314,756
75$2,932,446$1,883,485$1,642,020$2,422,179
76$3,169,571$1,913,791$1,635,043$2,538,059
77$3,428,930$1,943,629$1,625,880$2,663,240
78$3,712,729$1,972,916$1,614,395$2,798,653
79$4,023,399$2,001,560$1,600,449$2,945,326
80$4,363,614$2,029,465$1,583,892$3,104,396
81$4,736,321$2,056,527$1,564,570$3,277,116
82$5,144,763$2,082,634$1,542,321$3,464,870
83$5,592,515$2,107,669$1,516,975$3,669,185
84$6,083,512$2,131,505$1,488,354$3,891,750
85$6,622,088$2,154,007$1,456,272$4,134,424
86$7,213,017$2,175,030$1,420,533$4,399,265
87$7,861,559$2,194,420$1,380,935$4,688,538
88$8,573,506$2,212,014$1,337,264$5,004,749
89$9,355,238$2,227,638$1,289,298$5,350,660
90$10,213,785$2,241,105$1,236,802$5,729,319
91$11,156,890$2,252,218$1,179,533$6,144,092
92$12,193,082$2,260,766$1,117,237$6,598,691
93$13,331,759$2,266,526$1,049,647$7,097,214
94$14,583,273$2,269,260$976,485$7,644,181
95$15,959,029$2,268,716$897,459$8,244,579
96$17,471,592$2,264,626$812,266$8,903,912
97$19,134,806$2,256,704$720,589$9,628,251
98$20,963,923$2,244,650$622,096$10,424,293
99$22,975,748$2,228,141$516,440$11,299,428
100$25,188,793$2,206,839$403,260$12,261,805