Can I retire at age 68 with 893,000?

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 $893,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.6%
1 years$73,743$73,086$72,445$71,820$71,209$69,291
2 years$36,506$35,827$35,168$34,529$33,909$31,990
3 years$24,096$23,413$22,756$22,123$21,513$19,654
4 years$17,892$17,211$16,560$15,938$15,343$13,558
5 years$14,170$13,494$12,852$12,242$11,664$9,957
6 years$11,690$11,019$10,386$9,790$9,229$7,602
7 years$9,919$9,253$8,631$8,049$7,506$5,959
8 years$8,592$7,932$7,320$6,752$6,227$4,760
9 years$7,560$6,906$6,304$5,751$5,244$3,855
10 years$6,735$6,087$5,496$4,958$4,468$3,156
11 years$6,060$5,419$4,839$4,315$3,843$2,605
12 years$5,498$4,864$4,294$3,785$3,330$2,164
13 years$5,023$4,396$3,837$3,341$2,904$1,808
14 years$4,616$3,996$3,447$2,966$2,545$1,516
15 years$4,264$3,650$3,112$2,645$2,241$1,276
16 years$3,956$3,349$2,822$2,368$1,981$1,078
17 years$3,685$3,084$2,568$2,128$1,756$912
18 years$3,444$2,850$2,344$1,918$1,562$774
19 years$3,229$2,641$2,146$1,733$1,392$657
20 years$3,035$2,454$1,969$1,569$1,243$559
21 years$2,860$2,286$1,811$1,424$1,113$476
22 years$2,701$2,134$1,670$1,295$997$406
23 years$2,557$1,996$1,542$1,179$895$346
24 years$2,424$1,870$1,426$1,076$805$296
25 years$2,302$1,755$1,320$982$724$253
26 years$2,190$1,649$1,225$898$652$216
27 years$2,086$1,552$1,137$822$588$185
28 years$1,990$1,463$1,057$753$531$158
29 years$1,901$1,380$984$691$479$135
30 years$1,818$1,303$916$634$433$116
31 years$1,740$1,232$854$582$391$99
32 years$1,667$1,166$797$535$354$85
33 years$1,599$1,104$744$492$320$73
34 years$1,535$1,046$695$453$290$62
35 years$1,475$992$650$417$263$53
36 years$1,418$942$608$384$238$46
37 years$1,365$895$569$354$216$39
38 years$1,314$850$533$326$196$34
39 years$1,266$808$499$301$177$29
40 years$1,221$769$468$277$161$25
41 years$1,178$732$439$256$146$21
42 years$1,137$697$412$236$132$18
43 years$1,098$664$386$218$120$16
44 years$1,061$633$363$201$109$13
45 years$1,026$604$341$186$99$11
46 years$992$576$320$172$90$10
47 years$960$550$300$159$82$8
48 years$929$525$282$147$74$7
49 years$900$501$265$135$67$6
50 years$872$479$250$125$61$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $893,000, adding $2,828 every year, while hoping to spend $38,275 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: 39/45/16 Blend
67$893,000$893,000$893,000$893,000
68$987,003$939,674$925,833$1,020,667
69$1,046,953$944,994$916,124$1,050,270
70$1,111,735$949,291$904,807$1,078,356
71$1,181,802$952,476$891,787$1,107,909
72$1,257,650$954,452$876,967$1,139,081
73$1,339,828$955,117$860,242$1,172,042
74$1,428,935$954,363$841,505$1,206,981
75$1,525,633$952,073$820,642$1,244,110
76$1,630,648$948,126$797,535$1,283,663
77$1,744,782$942,392$772,060$1,325,903
78$1,868,913$934,733$744,087$1,371,122
79$2,004,010$925,002$713,482$1,419,643
80$2,151,138$913,046$680,102$1,471,830
81$2,311,468$898,699$643,799$1,528,082
82$2,486,290$881,788$604,420$1,588,848
83$2,677,025$862,129$561,801$1,654,623
84$2,885,234$839,526$515,774$1,725,959
85$3,112,638$813,772$466,162$1,803,470
86$3,361,130$784,650$412,781$1,887,834
87$3,632,795$751,927$355,439$1,979,807
88$3,929,927$715,360$293,934$2,080,227
89$4,255,055$674,687$228,056$2,190,023
90$4,610,961$629,637$157,586$2,310,225
91$5,000,708$579,918$82,294$2,441,976
92$5,427,672$525,226$1,942$2,586,543
93$5,895,568$465,235$0$2,745,328
94$6,408,489$399,605$0$2,934,193
95$6,970,942$327,973$0$3,141,837
96$7,587,893$249,958$0$3,369,881
97$8,264,808$165,157$0$3,620,484
98$9,007,713$73,144$0$3,896,035
99$9,823,240$0$0$4,199,170
100$10,718,698$0$0$4,545,946