Can I retire at age 68 with 894,000?

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 $894,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$73,826$73,168$72,527$71,900$71,289$70,603
2 years$36,547$35,867$35,207$34,567$33,947$33,256
3 years$24,123$23,439$22,781$22,148$21,537$20,863
4 years$17,912$17,230$16,579$15,956$15,361$14,708
5 years$14,186$13,509$12,866$12,256$11,677$11,048
6 years$11,703$11,031$10,398$9,801$9,240$8,634
7 years$9,930$9,264$8,640$8,058$7,514$6,934
8 years$8,601$7,941$7,328$6,760$6,234$5,678
9 years$7,568$6,914$6,311$5,758$5,250$4,718
10 years$6,742$6,094$5,502$4,963$4,473$3,965
11 years$6,067$5,425$4,844$4,320$3,847$3,363
12 years$5,504$4,869$4,299$3,789$3,334$2,873
13 years$5,029$4,401$3,841$3,345$2,907$2,469
14 years$4,622$4,000$3,451$2,969$2,548$2,132
15 years$4,269$3,654$3,116$2,648$2,244$1,849
16 years$3,961$3,353$2,825$2,371$1,983$1,609
17 years$3,689$3,088$2,571$2,130$1,758$1,404
18 years$3,448$2,853$2,347$1,920$1,563$1,228
19 years$3,232$2,644$2,148$1,735$1,393$1,077
20 years$3,038$2,457$1,972$1,571$1,245$946
21 years$2,863$2,289$1,813$1,426$1,114$833
22 years$2,704$2,136$1,671$1,297$998$734
23 years$2,559$1,998$1,543$1,181$896$647
24 years$2,427$1,872$1,427$1,077$806$572
25 years$2,305$1,757$1,322$984$725$506
26 years$2,193$1,651$1,226$899$653$447
27 years$2,089$1,554$1,138$823$589$396
28 years$1,993$1,464$1,058$754$531$351
29 years$1,903$1,381$985$692$480$311
30 years$1,820$1,305$917$635$433$276
31 years$1,742$1,233$855$583$392$245
32 years$1,669$1,167$798$536$354$217
33 years$1,601$1,105$745$493$321$193
34 years$1,537$1,047$696$453$290$172
35 years$1,477$993$651$417$263$152
36 years$1,420$943$609$384$238$135
37 years$1,366$896$570$354$216$120
38 years$1,316$851$534$326$196$107
39 years$1,268$809$500$301$178$95
40 years$1,222$770$469$278$161$85
41 years$1,179$733$439$256$146$75
42 years$1,138$698$412$236$133$67
43 years$1,099$665$387$218$120$60
44 years$1,062$634$363$201$109$53
45 years$1,027$605$341$186$99$47
46 years$993$577$320$172$90$42
47 years$961$550$301$159$82$37
48 years$930$525$283$147$74$33
49 years$901$502$266$136$67$30
50 years$873$479$250$125$61$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $894,000, adding $5,146 every year, while hoping to spend $53,070 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: 62/19/19 Blend
67$894,000$894,000$894,000$894,000
68$990,496$943,114$929,257$1,046,773
69$1,035,061$932,861$903,921$1,075,078
70$1,082,392$920,326$875,958$1,099,568
71$1,132,717$905,343$845,223$1,125,074
72$1,186,282$887,732$811,566$1,151,703
73$1,243,358$867,307$774,829$1,179,569
74$1,304,243$843,868$734,848$1,208,804
75$1,369,261$817,202$691,451$1,239,555
76$1,438,769$787,088$644,457$1,271,984
77$1,513,156$753,288$593,680$1,306,275
78$1,592,851$715,553$538,921$1,342,633
79$1,678,324$673,617$479,977$1,381,284
80$1,770,090$627,200$416,633$1,422,483
81$1,868,713$576,008$348,665$1,466,515
82$1,974,816$519,726$275,839$1,513,694
83$2,089,079$458,025$197,911$1,564,373
84$2,212,252$390,554$114,628$1,618,945
85$2,345,155$316,945$25,722$1,677,844
86$2,488,694$236,808$0$1,741,557
87$2,643,860$149,731$0$1,824,643
88$2,811,744$55,278$0$1,920,158
89$2,993,546$0$0$2,023,609
90$3,190,584$0$0$2,145,629
91$3,404,309$0$0$2,290,573
92$3,636,315$0$0$2,447,974
93$3,888,355$0$0$2,619,028
94$4,162,359$0$0$2,805,053
95$4,460,450$0$0$3,007,497
96$4,784,962$0$0$3,227,955
97$5,138,465$0$0$3,468,181
98$5,523,787$0$0$3,730,105
99$5,944,039$0$0$4,015,853
100$6,402,647$0$0$4,327,764