Can I retire at age 68 with 896,000?

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 $896,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.4%
1 years$73,991$73,332$72,689$72,061$71,448$68,749
2 years$36,629$35,947$35,286$34,645$34,023$31,335
3 years$24,177$23,492$22,832$22,197$21,586$18,993
4 years$17,952$17,269$16,616$15,992$15,395$12,918
5 years$14,218$13,539$12,895$12,283$11,703$9,348
6 years$11,729$11,056$10,421$9,823$9,260$7,029
7 years$9,953$9,285$8,660$8,076$7,531$5,422
8 years$8,621$7,959$7,344$6,775$6,248$4,260
9 years$7,585$6,929$6,326$5,771$5,261$3,392
10 years$6,757$6,108$5,515$4,974$4,483$2,728
11 years$6,080$5,437$4,855$4,329$3,856$2,211
12 years$5,517$4,880$4,309$3,797$3,341$1,803
13 years$5,040$4,410$3,850$3,352$2,914$1,478
14 years$4,632$4,009$3,459$2,976$2,554$1,216
15 years$4,279$3,662$3,123$2,654$2,249$1,003
16 years$3,970$3,360$2,831$2,376$1,987$830
17 years$3,697$3,094$2,576$2,135$1,762$688
18 years$3,456$2,859$2,352$1,924$1,567$572
19 years$3,239$2,650$2,153$1,739$1,397$476
20 years$3,045$2,463$1,976$1,575$1,247$396
21 years$2,870$2,294$1,818$1,429$1,116$330
22 years$2,710$2,141$1,675$1,299$1,001$275
23 years$2,565$2,003$1,547$1,183$898$230
24 years$2,432$1,876$1,430$1,079$807$192
25 years$2,310$1,761$1,325$986$726$160
26 years$2,197$1,655$1,229$901$654$134
27 years$2,093$1,557$1,141$825$590$112
28 years$1,997$1,468$1,061$756$532$94
29 years$1,907$1,384$987$693$481$78
30 years$1,824$1,308$919$636$434$66
31 years$1,746$1,236$857$584$393$55
32 years$1,673$1,170$800$537$355$46
33 years$1,605$1,108$747$494$321$38
34 years$1,540$1,050$698$454$291$32
35 years$1,480$996$652$418$264$27
36 years$1,423$945$610$385$239$23
37 years$1,369$898$571$355$216$19
38 years$1,319$853$535$327$196$16
39 years$1,271$811$501$302$178$13
40 years$1,225$772$470$278$161$11
41 years$1,182$735$440$257$146$9
42 years$1,141$700$413$237$133$8
43 years$1,102$667$388$219$121$7
44 years$1,065$635$364$202$109$5
45 years$1,029$606$342$186$99$5
46 years$995$578$321$172$90$4
47 years$963$552$301$159$82$3
48 years$932$527$283$147$74$3
49 years$903$503$266$136$68$2
50 years$875$480$250$126$61$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $896,000, adding $6,093 every year, while hoping to spend $44,009 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: 66/18/16 Blend
67$896,000$896,000$896,000$896,000
68$993,677$946,189$932,301$1,055,034
69$1,048,207$945,727$916,708$1,096,357
70$1,106,824$943,767$899,117$1,135,832
71$1,169,898$940,190$879,416$1,177,898
72$1,237,836$934,869$857,485$1,222,807
73$1,311,086$927,667$833,201$1,270,840
74$1,390,137$918,443$806,434$1,322,303
75$1,475,529$907,045$777,047$1,377,539
76$1,567,854$893,311$744,899$1,436,925
77$1,667,764$877,072$709,842$1,500,877
78$1,775,974$858,147$671,720$1,569,857
79$1,893,271$836,344$630,371$1,644,375
80$2,020,522$811,462$585,626$1,724,993
81$2,158,678$783,286$537,306$1,812,335
82$2,308,785$751,589$485,228$1,907,089
83$2,471,996$716,132$429,198$2,010,016
84$2,649,577$676,660$369,014$2,121,955
85$2,842,923$632,906$304,465$2,243,835
86$3,053,568$584,585$235,331$2,376,683
87$3,283,199$531,397$161,383$2,521,631
88$3,533,675$473,025$82,379$2,679,931
89$3,807,041$409,134$0$2,852,967
90$4,105,547$339,370$0$3,042,595
91$4,431,672$263,358$0$3,265,202
92$4,788,144$180,703$0$3,508,620
93$5,177,965$90,988$0$3,774,952
94$5,604,443$0$0$4,066,522
95$6,071,220$0$0$4,387,122
96$6,582,304$0$0$4,757,942
97$7,142,110$0$0$5,164,172
98$7,755,502$0$0$5,609,345
99$8,427,834$0$0$6,097,357
100$9,165,004$0$0$6,632,496