Can I retire at age 68 with 1,640,000?

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 $1,640,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$135,430$134,223$133,046$131,898$130,776$128,135
2 years$67,044$65,796$64,586$63,412$62,274$59,626
3 years$44,252$42,998$41,791$40,629$39,509$36,935
4 years$32,858$31,608$30,413$29,271$28,178$25,698
5 years$26,024$24,781$23,602$22,483$21,421$19,042
6 years$21,469$20,236$19,074$17,980$16,950$14,675
7 years$18,217$16,994$15,850$14,782$13,784$11,614
8 years$15,779$14,567$13,442$12,400$11,436$9,369
9 years$13,884$12,683$11,578$10,562$9,630$7,666
10 years$12,368$11,180$10,094$9,105$8,206$6,342
11 years$11,129$9,953$8,887$7,924$7,057$5,292
12 years$10,098$8,933$7,887$6,950$6,116$4,446
13 years$9,225$8,073$7,046$6,136$5,333$3,756
14 years$8,478$7,338$6,331$5,447$4,675$3,187
15 years$7,831$6,703$5,716$4,858$4,116$2,715
16 years$7,266$6,150$5,182$4,350$3,638$2,320
17 years$6,767$5,664$4,716$3,908$3,225$1,988
18 years$6,325$5,234$4,305$3,522$2,868$1,707
19 years$5,929$4,851$3,941$3,182$2,556$1,469
20 years$5,574$4,507$3,617$2,882$2,283$1,266
21 years$5,253$4,199$3,327$2,616$2,043$1,092
22 years$4,961$3,919$3,066$2,378$1,832$944
23 years$4,695$3,666$2,831$2,166$1,644$816
24 years$4,452$3,434$2,618$1,976$1,478$706
25 years$4,228$3,223$2,425$1,804$1,330$612
26 years$4,022$3,029$2,249$1,650$1,198$530
27 years$3,832$2,851$2,088$1,510$1,080$460
28 years$3,655$2,686$1,941$1,383$974$399
29 years$3,491$2,534$1,807$1,269$880$346
30 years$3,338$2,393$1,683$1,164$795$301
31 years$3,196$2,262$1,569$1,069$719$261
32 years$3,062$2,141$1,464$983$650$227
33 years$2,937$2,027$1,367$904$588$197
34 years$2,819$1,921$1,277$831$533$171
35 years$2,709$1,822$1,194$765$483$149
36 years$2,605$1,730$1,117$705$437$130
37 years$2,506$1,643$1,045$650$396$113
38 years$2,413$1,561$979$599$359$98
39 years$2,325$1,485$917$552$326$85
40 years$2,242$1,412$860$509$295$74
41 years$2,163$1,345$806$470$268$64
42 years$2,088$1,281$756$434$243$56
43 years$2,017$1,220$710$400$221$49
44 years$1,949$1,163$666$370$200$42
45 years$1,884$1,109$625$341$182$37
46 years$1,822$1,058$587$315$165$32
47 years$1,763$1,010$552$291$150$28
48 years$1,707$964$519$269$136$24
49 years$1,653$920$487$249$124$21
50 years$1,601$879$458$230$112$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $1,640,000, adding $3,586 every year, while hoping to spend $56,936 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: 45/25/30 Blend
67$1,640,000$1,640,000$1,640,000$1,640,000
68$1,810,979$1,724,059$1,698,639$1,876,610
69$1,935,119$1,747,958$1,694,964$1,947,683
70$2,070,014$1,771,121$1,689,257$2,019,012
71$2,216,699$1,793,449$1,681,392$2,095,305
72$2,376,316$1,814,842$1,671,232$2,177,057
73$2,550,119$1,835,189$1,658,637$2,264,820
74$2,739,491$1,854,372$1,643,460$2,359,202
75$2,945,949$1,872,267$1,625,547$2,460,875
76$3,171,168$1,888,740$1,604,735$2,570,586
77$3,416,988$1,903,649$1,580,855$2,689,155
78$3,685,437$1,916,843$1,553,729$2,817,496
79$3,978,744$1,928,161$1,523,171$2,956,613
80$4,299,367$1,937,432$1,488,988$3,107,620
81$4,650,009$1,944,473$1,450,976$3,271,747
82$5,033,648$1,949,090$1,408,922$3,450,354
83$5,453,562$1,951,077$1,362,603$3,644,944
84$5,913,361$1,950,217$1,311,786$3,857,178
85$6,417,022$1,946,275$1,256,229$4,088,892
86$6,968,921$1,939,006$1,195,676$4,342,112
87$7,573,882$1,928,147$1,129,861$4,619,078
88$8,237,213$1,913,422$1,058,507$4,922,267
89$8,964,764$1,894,535$981,323$5,254,410
90$9,762,977$1,871,175$898,004$5,618,527
91$10,638,948$1,843,009$808,234$6,017,951
92$11,600,493$1,809,688$711,682$6,456,364
93$12,656,220$1,770,841$608,001$6,937,830
94$13,815,615$1,726,072$496,829$7,466,839
95$15,089,125$1,674,967$377,790$8,048,345
96$16,488,259$1,617,083$250,489$8,687,817
97$18,025,696$1,551,955$114,515$9,391,294
98$19,715,403$1,479,087$0$10,165,439
99$21,572,771$1,397,958$0$11,027,402
100$23,614,751$1,308,016$0$12,015,263