Can I retire at age 68 with 897,000?

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 $897,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.7%
1 years$74,073$73,414$72,770$72,142$71,528$69,573
2 years$36,670$35,987$35,325$34,683$34,061$32,106
3 years$24,204$23,518$22,858$22,222$21,610$19,715
4 years$17,972$17,288$16,635$16,010$15,412$13,593
5 years$14,234$13,554$12,909$12,297$11,716$9,978
6 years$11,743$11,068$10,432$9,834$9,271$7,614
7 years$9,964$9,295$8,669$8,085$7,539$5,965
8 years$8,630$7,967$7,352$6,782$6,255$4,762
9 years$7,594$6,937$6,333$5,777$5,267$3,854
10 years$6,765$6,115$5,521$4,980$4,488$3,153
11 years$6,087$5,444$4,861$4,334$3,860$2,601
12 years$5,523$4,886$4,314$3,802$3,345$2,159
13 years$5,046$4,415$3,854$3,356$2,917$1,802
14 years$4,637$4,013$3,463$2,979$2,557$1,511
15 years$4,283$3,666$3,126$2,657$2,251$1,271
16 years$3,974$3,364$2,835$2,379$1,990$1,072
17 years$3,701$3,098$2,579$2,138$1,764$907
18 years$3,459$2,863$2,355$1,926$1,569$769
19 years$3,243$2,653$2,156$1,741$1,398$652
20 years$3,049$2,465$1,978$1,576$1,249$555
21 years$2,873$2,296$1,820$1,431$1,118$472
22 years$2,713$2,144$1,677$1,301$1,002$402
23 years$2,568$2,005$1,548$1,185$899$343
24 years$2,435$1,878$1,432$1,081$808$293
25 years$2,313$1,763$1,326$987$727$250
26 years$2,200$1,657$1,230$902$655$213
27 years$2,096$1,559$1,142$826$591$182
28 years$1,999$1,469$1,062$757$533$156
29 years$1,909$1,386$988$694$481$133
30 years$1,826$1,309$920$637$435$114
31 years$1,748$1,237$858$585$393$98
32 years$1,675$1,171$801$538$356$84
33 years$1,606$1,109$748$494$322$72
34 years$1,542$1,051$698$455$291$61
35 years$1,482$997$653$419$264$52
36 years$1,425$946$611$386$239$45
37 years$1,371$899$572$355$217$38
38 years$1,320$854$535$327$196$33
39 years$1,272$812$502$302$178$28
40 years$1,226$773$470$278$162$24
41 years$1,183$735$441$257$147$21
42 years$1,142$700$414$237$133$18
43 years$1,103$667$388$219$121$15
44 years$1,066$636$364$202$110$13
45 years$1,030$607$342$187$99$11
46 years$997$579$321$172$90$10
47 years$964$552$302$159$82$8
48 years$933$527$284$147$74$7
49 years$904$503$267$136$68$6
50 years$876$481$251$126$61$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $897,000, adding $4,003 every year, while hoping to spend $37,290 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: 74/19/7 Blend
67$897,000$897,000$897,000$897,000
68$992,623$945,082$931,179$1,064,835
69$1,054,194$951,715$922,697$1,119,570
70$1,120,796$957,423$912,681$1,174,405
71$1,192,902$962,121$901,041$1,233,412
72$1,271,033$965,720$887,680$1,296,993
73$1,355,762$968,124$872,501$1,365,588
74$1,447,718$969,230$855,398$1,439,683
75$1,547,594$968,932$836,263$1,519,814
76$1,656,152$967,113$814,982$1,606,570
77$1,774,231$963,652$791,434$1,700,602
78$1,902,751$958,420$765,496$1,802,628
79$2,042,728$951,279$737,037$1,913,439
80$2,195,279$942,085$705,920$2,033,906
81$2,361,632$930,681$672,003$2,164,990
82$2,543,140$916,906$635,137$2,307,751
83$2,741,291$900,585$595,165$2,463,358
84$2,957,724$881,535$551,924$2,633,098
85$3,194,244$859,562$505,245$2,818,392
86$3,452,835$834,459$454,949$3,020,805
87$3,735,685$806,009$400,851$3,242,064
88$4,045,202$773,980$342,756$3,484,072
89$4,384,037$738,129$280,463$3,748,929
90$4,755,108$698,197$213,758$4,038,949
91$5,161,632$653,912$142,422$4,356,682
92$5,607,149$604,984$66,223$4,704,943
93$6,095,558$551,107$0$5,086,833
94$6,631,153$491,960$0$5,506,900
95$7,218,666$427,201$0$5,973,138
96$7,863,306$356,470$0$6,484,772
97$8,570,811$279,385$0$7,046,408
98$9,347,504$195,545$0$7,663,119
99$10,200,347$104,524$0$8,340,500
100$11,137,011$5,875$0$9,084,716