Can I retire at age 68 with 885,000?

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 $885,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.6%
1 years$73,082$72,431$71,796$71,176$70,571$67,852
2 years$36,179$35,506$34,853$34,219$33,605$30,898
3 years$23,880$23,203$22,552$21,925$21,321$18,710
4 years$17,732$17,057$16,412$15,796$15,206$12,713
5 years$14,043$13,373$12,736$12,132$11,559$9,190
6 years$11,585$10,920$10,293$9,702$9,147$6,902
7 years$9,830$9,171$8,553$7,977$7,439$5,319
8 years$8,515$7,861$7,254$6,692$6,171$4,174
9 years$7,492$6,844$6,248$5,700$5,197$3,319
10 years$6,674$6,033$5,447$4,913$4,428$2,666
11 years$6,006$5,371$4,795$4,276$3,808$2,158
12 years$5,449$4,820$4,256$3,751$3,300$1,758
13 years$4,978$4,356$3,802$3,311$2,878$1,439
14 years$4,575$3,960$3,416$2,939$2,523$1,182
15 years$4,226$3,617$3,085$2,621$2,221$974
16 years$3,921$3,319$2,797$2,347$1,963$805
17 years$3,652$3,057$2,545$2,109$1,741$666
18 years$3,413$2,824$2,323$1,901$1,548$553
19 years$3,200$2,618$2,127$1,717$1,379$459
20 years$3,008$2,432$1,952$1,555$1,232$381
21 years$2,834$2,266$1,795$1,412$1,103$317
22 years$2,677$2,115$1,655$1,283$988$264
23 years$2,534$1,978$1,528$1,169$887$220
24 years$2,402$1,853$1,413$1,066$797$184
25 years$2,282$1,739$1,309$974$718$153
26 years$2,170$1,635$1,214$890$646$128
27 years$2,068$1,538$1,127$815$583$107
28 years$1,972$1,450$1,048$747$526$89
29 years$1,884$1,368$975$685$475$74
30 years$1,801$1,291$908$628$429$62
31 years$1,724$1,221$847$577$388$52
32 years$1,652$1,155$790$530$351$43
33 years$1,585$1,094$738$488$318$36
34 years$1,521$1,037$689$449$287$30
35 years$1,462$983$644$413$260$25
36 years$1,406$933$603$380$236$21
37 years$1,353$887$564$351$214$18
38 years$1,302$843$528$323$194$15
39 years$1,255$801$495$298$176$12
40 years$1,210$762$464$275$159$10
41 years$1,167$726$435$253$145$9
42 years$1,127$691$408$234$131$7
43 years$1,088$658$383$216$119$6
44 years$1,052$628$359$199$108$5
45 years$1,017$598$337$184$98$4
46 years$983$571$317$170$89$4
47 years$951$545$298$157$81$3
48 years$921$520$280$145$73$2
49 years$892$497$263$134$67$2
50 years$864$474$247$124$61$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $885,000, adding $5,974 every year, while hoping to spend $40,420 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: 48/30/22 Blend
67$885,000$885,000$885,000$885,000
68$981,432$934,527$920,810$1,022,161
69$1,038,532$937,312$908,650$1,053,969
70$1,100,101$938,879$894,729$1,083,960
71$1,166,552$939,126$878,944$1,115,698
72$1,238,341$937,943$861,188$1,149,364
73$1,315,964$935,215$841,351$1,185,161
74$1,399,972$930,820$819,316$1,223,314
75$1,490,967$924,628$794,960$1,264,072
76$1,589,611$916,501$768,157$1,307,715
77$1,696,634$906,292$738,773$1,354,552
78$1,812,838$893,847$706,669$1,404,926
79$1,939,103$879,001$671,698$1,459,219
80$2,076,399$861,580$633,708$1,517,854
81$2,225,795$841,400$592,540$1,581,303
82$2,388,463$818,266$548,027$1,650,086
83$2,565,696$791,971$499,996$1,724,783
84$2,758,915$762,296$448,264$1,806,036
85$2,969,686$729,010$392,642$1,894,557
86$3,199,730$691,867$332,932$1,991,134
87$3,450,944$650,610$268,926$2,096,642
88$3,725,414$604,963$200,409$2,212,050
89$4,025,437$554,638$127,154$2,338,431
90$4,353,544$499,327$48,926$2,476,972
91$4,712,520$438,709$0$2,628,991
92$5,105,431$372,439$0$2,804,054
93$5,535,654$300,158$0$3,008,446
94$6,006,908$221,483$0$3,232,515
95$6,523,289$136,012$0$3,478,302
96$7,089,306$43,318$0$3,748,058
97$7,709,927$0$0$4,044,267
98$8,390,623$0$0$4,388,507
99$9,137,420$0$0$4,781,964
100$9,956,955$0$0$5,213,848