Can I retire at age 68 with 890,000?

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 $890,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.8%
1 years$73,495$72,841$72,202$71,579$70,970$68,452
2 years$36,384$35,706$35,050$34,413$33,795$31,285
3 years$24,015$23,334$22,679$22,049$21,441$19,018
4 years$17,832$17,153$16,505$15,885$15,292$12,974
5 years$14,123$13,448$12,808$12,201$11,625$9,418
6 years$11,651$10,982$10,351$9,757$9,198$7,105
7 years$9,886$9,222$8,602$8,022$7,481$5,500
8 years$8,563$7,905$7,295$6,729$6,206$4,336
9 years$7,534$6,883$6,283$5,732$5,226$3,465
10 years$6,712$6,067$5,478$4,941$4,453$2,798
11 years$6,040$5,401$4,823$4,300$3,830$2,277
12 years$5,480$4,848$4,280$3,772$3,319$1,864
13 years$5,006$4,381$3,824$3,330$2,894$1,534
14 years$4,601$3,982$3,436$2,956$2,537$1,267
15 years$4,250$3,638$3,102$2,636$2,234$1,050
16 years$3,943$3,338$2,812$2,360$1,974$873
17 years$3,673$3,074$2,559$2,121$1,750$727
18 years$3,432$2,840$2,336$1,911$1,556$607
19 years$3,218$2,632$2,139$1,727$1,387$507
20 years$3,025$2,446$1,963$1,564$1,239$424
21 years$2,851$2,278$1,805$1,420$1,109$355
22 years$2,692$2,127$1,664$1,291$994$298
23 years$2,548$1,989$1,536$1,175$892$250
24 years$2,416$1,864$1,421$1,072$802$209
25 years$2,295$1,749$1,316$979$722$176
26 years$2,183$1,644$1,221$895$650$148
27 years$2,079$1,547$1,133$819$586$124
28 years$1,984$1,458$1,054$751$529$104
29 years$1,895$1,375$980$688$477$88
30 years$1,812$1,299$913$632$431$74
31 years$1,734$1,228$851$580$390$62
32 years$1,662$1,162$794$533$353$52
33 years$1,594$1,100$742$490$319$44
34 years$1,530$1,043$693$451$289$37
35 years$1,470$989$648$415$262$31
36 years$1,414$939$606$383$237$26
37 years$1,360$892$567$352$215$22
38 years$1,310$847$531$325$195$18
39 years$1,262$806$498$300$177$16
40 years$1,217$767$467$276$160$13
41 years$1,174$730$437$255$145$11
42 years$1,133$695$410$235$132$9
43 years$1,094$662$385$217$120$8
44 years$1,057$631$361$201$109$7
45 years$1,022$602$339$185$99$6
46 years$989$574$319$171$90$5
47 years$957$548$299$158$81$4
48 years$926$523$281$146$74$3
49 years$897$499$265$135$67$3
50 years$869$477$249$125$61$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $890,000, adding $5,701 every year, while hoping to spend $53,267 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: 57/38/5 Blend
67$890,000$890,000$890,000$890,000
68$986,661$939,491$925,696$1,041,635
69$1,030,624$928,850$900,031$1,068,589
70$1,077,287$915,903$871,721$1,091,416
71$1,126,868$900,479$840,621$1,114,949
72$1,179,606$882,401$806,580$1,139,259
73$1,235,765$861,477$769,439$1,164,429
74$1,295,630$837,507$729,033$1,190,548
75$1,359,517$810,278$685,188$1,217,722
76$1,427,771$779,564$637,724$1,246,067
77$1,500,767$745,127$586,452$1,275,716
78$1,578,922$706,714$531,174$1,306,819
79$1,662,688$664,059$471,685$1,339,544
80$1,752,564$616,880$407,768$1,374,080
81$1,849,096$564,877$339,199$1,410,640
82$1,952,884$507,736$265,742$1,449,464
83$2,064,587$445,124$187,153$1,490,818
84$2,184,927$376,688$103,175$1,535,005
85$2,314,699$302,055$13,541$1,582,362
86$2,454,776$220,833$0$1,633,264
87$2,606,116$132,607$0$1,692,516
88$2,769,772$36,937$0$1,757,262
89$2,946,903$0$0$1,827,324
90$3,138,782$0$0$1,931,171
91$3,346,808$0$0$2,060,568
92$3,572,521$0$0$2,201,034
93$3,817,614$0$0$2,353,631
94$4,083,947$0$0$2,519,528
95$4,373,570$0$0$2,700,011
96$4,688,736$0$0$2,896,492
97$5,031,925$0$0$3,110,529
98$5,405,864$0$0$3,343,833
99$5,813,557$0$0$3,598,289
100$6,258,307$0$0$3,875,971