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%16.3%
1 years$73,495$72,841$72,202$71,579$70,970$69,142
2 years$36,384$35,706$35,050$34,413$33,795$31,966
3 years$24,015$23,334$22,679$22,049$21,441$19,667
4 years$17,832$17,153$16,505$15,885$15,292$13,588
5 years$14,123$13,448$12,808$12,201$11,625$9,994
6 years$11,651$10,982$10,351$9,757$9,198$7,644
7 years$9,886$9,222$8,602$8,022$7,481$6,002
8 years$8,563$7,905$7,295$6,729$6,206$4,802
9 years$7,534$6,883$6,283$5,732$5,226$3,896
10 years$6,712$6,067$5,478$4,941$4,453$3,196
11 years$6,040$5,401$4,823$4,300$3,830$2,643
12 years$5,480$4,848$4,280$3,772$3,319$2,200
13 years$5,006$4,381$3,824$3,330$2,894$1,841
14 years$4,601$3,982$3,436$2,956$2,537$1,548
15 years$4,250$3,638$3,102$2,636$2,234$1,306
16 years$3,943$3,338$2,812$2,360$1,974$1,105
17 years$3,673$3,074$2,559$2,121$1,750$937
18 years$3,432$2,840$2,336$1,911$1,556$796
19 years$3,218$2,632$2,139$1,727$1,387$678
20 years$3,025$2,446$1,963$1,564$1,239$578
21 years$2,851$2,278$1,805$1,420$1,109$494
22 years$2,692$2,127$1,664$1,291$994$422
23 years$2,548$1,989$1,536$1,175$892$361
24 years$2,416$1,864$1,421$1,072$802$309
25 years$2,295$1,749$1,316$979$722$265
26 years$2,183$1,644$1,221$895$650$227
27 years$2,079$1,547$1,133$819$586$194
28 years$1,984$1,458$1,054$751$529$167
29 years$1,895$1,375$980$688$477$143
30 years$1,812$1,299$913$632$431$123
31 years$1,734$1,228$851$580$390$105
32 years$1,662$1,162$794$533$353$91
33 years$1,594$1,100$742$490$319$78
34 years$1,530$1,043$693$451$289$67
35 years$1,470$989$648$415$262$57
36 years$1,414$939$606$383$237$49
37 years$1,360$892$567$352$215$42
38 years$1,310$847$531$325$195$36
39 years$1,262$806$498$300$177$31
40 years$1,217$767$467$276$160$27
41 years$1,174$730$437$255$145$23
42 years$1,133$695$410$235$132$20
43 years$1,094$662$385$217$120$17
44 years$1,057$631$361$201$109$15
45 years$1,022$602$339$185$99$13
46 years$989$574$319$171$90$11
47 years$957$548$299$158$81$9
48 years$926$523$281$146$74$8
49 years$897$499$265$135$67$7
50 years$869$477$249$125$61$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $890,000, adding $5,573 every year, while hoping to spend $32,051 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: 56/31/13 Blend
67$890,000$890,000$890,000$890,000
68$986,529$939,359$925,564$1,038,190
69$1,053,052$951,285$922,468$1,085,761
70$1,125,288$962,722$918,194$1,133,566
71$1,203,783$973,611$912,670$1,184,890
72$1,289,141$983,891$905,817$1,240,077
73$1,382,027$993,495$897,555$1,299,502
74$1,483,172$1,002,354$887,801$1,363,584
75$1,593,379$1,010,393$876,466$1,432,782
76$1,713,533$1,017,531$863,457$1,507,604
77$1,844,608$1,023,685$848,677$1,588,611
78$1,987,676$1,028,764$832,026$1,676,421
79$2,143,917$1,032,671$813,397$1,771,717
80$2,314,629$1,035,305$792,679$1,875,253
81$2,501,244$1,036,557$769,756$1,987,859
82$2,705,334$1,036,312$744,506$2,110,455
83$2,928,634$1,034,447$716,803$2,244,053
84$3,173,053$1,030,833$686,514$2,389,770
85$3,440,691$1,025,331$653,499$2,548,842
86$3,733,864$1,017,795$617,614$2,722,628
87$4,055,121$1,008,069$578,707$2,912,632
88$4,407,269$995,990$536,619$3,120,510
89$4,793,399$981,383$491,185$3,348,093
90$5,216,918$964,062$442,231$3,597,398
91$5,681,574$943,832$389,577$3,870,652
92$6,191,501$920,486$333,033$4,170,312
93$6,751,248$893,803$272,404$4,499,088
94$7,365,827$863,552$207,482$4,859,971
95$8,040,762$829,486$138,052$5,256,259
96$8,782,133$791,345$63,891$5,691,592
97$9,596,643$748,853$0$6,169,983
98$10,491,673$701,719$0$6,697,977
99$11,475,355$649,635$0$7,287,938
100$12,556,649$592,275$0$7,936,416