Can I retire at age 68 with 888,000?

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 $888,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$73,330$72,677$72,040$71,418$70,810$68,820
2 years$36,302$35,626$34,971$34,335$33,719$31,729
3 years$23,961$23,282$22,628$21,999$21,393$19,465
4 years$17,792$17,115$16,468$15,849$15,258$13,407
5 years$14,091$13,418$12,780$12,174$11,599$9,831
6 years$11,625$10,957$10,328$9,735$9,178$7,494
7 years$9,864$9,202$8,582$8,004$7,464$5,864
8 years$8,544$7,887$7,279$6,714$6,192$4,676
9 years$7,517$6,867$6,269$5,719$5,215$3,780
10 years$6,697$6,053$5,466$4,930$4,443$3,088
11 years$6,026$5,389$4,812$4,291$3,821$2,544
12 years$5,467$4,837$4,270$3,763$3,311$2,110
13 years$4,995$4,371$3,815$3,322$2,888$1,759
14 years$4,591$3,973$3,428$2,949$2,531$1,472
15 years$4,240$3,630$3,095$2,630$2,229$1,237
16 years$3,934$3,330$2,806$2,355$1,970$1,042
17 years$3,664$3,067$2,553$2,116$1,746$880
18 years$3,425$2,834$2,331$1,907$1,553$745
19 years$3,211$2,626$2,134$1,723$1,384$631
20 years$3,018$2,441$1,958$1,561$1,236$536
21 years$2,844$2,273$1,801$1,416$1,106$455
22 years$2,686$2,122$1,660$1,288$992$387
23 years$2,542$1,985$1,533$1,173$890$330
24 years$2,410$1,860$1,418$1,070$800$281
25 years$2,289$1,745$1,313$977$720$239
26 years$2,178$1,640$1,218$893$649$204
27 years$2,075$1,544$1,131$818$585$174
28 years$1,979$1,454$1,051$749$528$149
29 years$1,890$1,372$978$687$476$127
30 years$1,808$1,296$911$630$430$108
31 years$1,730$1,225$850$579$389$93
32 years$1,658$1,159$793$532$352$79
33 years$1,590$1,098$740$489$319$68
34 years$1,527$1,040$691$450$288$58
35 years$1,467$987$646$414$261$49
36 years$1,410$937$605$382$237$42
37 years$1,357$890$566$352$215$36
38 years$1,307$845$530$324$195$31
39 years$1,259$804$497$299$176$26
40 years$1,214$765$465$276$160$23
41 years$1,171$728$436$254$145$19
42 years$1,131$693$409$235$132$17
43 years$1,092$661$384$217$120$14
44 years$1,055$630$361$200$108$12
45 years$1,020$600$339$185$98$10
46 years$987$573$318$171$89$9
47 years$955$547$299$158$81$8
48 years$924$522$281$146$74$6
49 years$895$498$264$135$67$6
50 years$867$476$248$124$61$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $888,000, adding $5,574 every year, while hoping to spend $23,773 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: 49/45/6 Blend
67$888,000$888,000$888,000$888,000
68$984,326$937,262$923,498$1,030,791
69$1,059,433$957,893$929,140$1,083,735
70$1,141,404$978,739$934,176$1,138,209
71$1,230,914$999,784$938,558$1,196,810
72$1,328,706$1,021,013$942,239$1,259,928
73$1,435,599$1,042,407$945,168$1,327,993
74$1,552,493$1,063,948$947,294$1,401,481
75$1,680,380$1,085,614$948,561$1,480,912
76$1,820,351$1,107,382$948,911$1,566,862
77$1,973,610$1,129,226$948,282$1,659,964
78$2,141,480$1,151,120$946,611$1,760,918
79$2,325,419$1,173,033$943,831$1,870,491
80$2,527,034$1,194,933$939,871$1,989,532
81$2,748,092$1,216,786$934,658$2,118,974
82$2,990,542$1,238,554$928,114$2,259,848
83$3,256,530$1,260,196$920,158$2,413,287
84$3,548,419$1,281,668$910,706$2,580,542
85$3,868,812$1,302,924$899,669$2,762,991
86$4,220,576$1,323,912$886,953$2,962,152
87$4,606,870$1,344,579$872,461$3,179,700
88$5,031,173$1,364,866$856,091$3,417,480
89$5,497,320$1,384,711$837,737$3,677,526
90$6,009,531$1,404,047$817,286$3,962,079
91$6,572,460$1,422,802$794,622$4,273,610
92$7,191,231$1,440,900$769,622$4,614,844
93$7,871,491$1,458,258$742,159$4,988,782
94$8,619,461$1,474,790$712,098$5,398,735
95$9,441,993$1,490,402$679,300$5,848,349
96$10,346,639$1,504,994$643,620$6,341,648
97$11,341,717$1,518,460$604,903$6,883,063
98$12,436,395$1,530,688$562,990$7,477,481
99$13,640,772$1,541,556$517,714$8,130,288
100$14,965,975$1,550,936$468,902$8,847,421