Can I retire at age 68 with 923,000?

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 $923,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.9%
1 years$76,220$75,542$74,879$74,233$73,601$70,681
2 years$37,733$37,030$36,349$35,689$35,048$32,142
3 years$24,905$24,200$23,520$22,866$22,236$19,436
4 years$18,493$17,789$17,117$16,474$15,859$13,186
5 years$14,646$13,947$13,283$12,653$12,056$9,517
6 years$12,083$11,389$10,735$10,119$9,539$7,136
7 years$10,253$9,564$8,921$8,319$7,758$5,489
8 years$8,880$8,198$7,565$6,979$6,436$4,300
9 years$7,814$7,138$6,516$5,945$5,420$3,413
10 years$6,961$6,292$5,681$5,124$4,618$2,736
11 years$6,264$5,601$5,001$4,460$3,972$2,211
12 years$5,683$5,027$4,439$3,912$3,442$1,797
13 years$5,192$4,543$3,966$3,453$3,001$1,468
14 years$4,772$4,130$3,563$3,066$2,631$1,203
15 years$4,407$3,773$3,217$2,734$2,317$989
16 years$4,089$3,461$2,917$2,448$2,047$816
17 years$3,809$3,188$2,654$2,199$1,815$674
18 years$3,560$2,946$2,423$1,982$1,614$558
19 years$3,337$2,730$2,218$1,791$1,439$462
20 years$3,137$2,537$2,036$1,622$1,285$383
21 years$2,956$2,363$1,872$1,472$1,150$318
22 years$2,792$2,206$1,726$1,339$1,031$264
23 years$2,642$2,063$1,593$1,219$925$220
24 years$2,505$1,933$1,474$1,112$832$183
25 years$2,380$1,814$1,365$1,015$748$152
26 years$2,264$1,705$1,266$928$674$127
27 years$2,157$1,604$1,175$850$608$106
28 years$2,057$1,512$1,093$779$548$88
29 years$1,965$1,426$1,017$714$495$73
30 years$1,879$1,347$947$655$447$61
31 years$1,799$1,273$883$602$405$51
32 years$1,723$1,205$824$553$366$42
33 years$1,653$1,141$769$509$331$35
34 years$1,587$1,081$719$468$300$29
35 years$1,525$1,026$672$431$272$25
36 years$1,466$973$629$397$246$20
37 years$1,411$925$588$366$223$17
38 years$1,358$879$551$337$202$14
39 years$1,309$836$516$311$183$12
40 years$1,262$795$484$287$166$10
41 years$1,217$757$454$264$151$8
42 years$1,175$721$426$244$137$7
43 years$1,135$687$399$225$124$6
44 years$1,097$655$375$208$113$5
45 years$1,060$624$352$192$102$4
46 years$1,025$595$331$177$93$3
47 years$992$568$311$164$84$3
48 years$961$542$292$151$77$2
49 years$930$518$274$140$70$2
50 years$901$495$258$129$63$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $923,000, adding $4,408 every year, while hoping to spend $21,246 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: 61/25/14 Blend
67$923,000$923,000$923,000$923,000
68$1,021,693$972,774$958,467$1,080,233
69$1,103,300$997,834$967,970$1,145,187
70$1,192,519$1,023,410$977,080$1,213,244
71$1,290,104$1,049,505$985,760$1,287,000
72$1,396,884$1,076,121$993,973$1,367,008
73$1,513,775$1,103,260$1,001,680$1,453,879
74$1,641,783$1,130,922$1,008,839$1,548,282
75$1,782,016$1,159,108$1,015,406$1,650,957
76$1,935,695$1,187,818$1,021,335$1,762,718
77$2,104,164$1,217,050$1,026,578$1,884,462
78$2,288,905$1,246,801$1,031,085$2,017,175
79$2,491,548$1,277,069$1,034,801$2,161,945
80$2,713,890$1,307,849$1,037,670$2,319,972
81$2,957,908$1,339,136$1,039,634$2,492,575
82$3,225,784$1,370,922$1,040,631$2,681,208
83$3,519,917$1,403,201$1,040,595$2,887,474
84$3,842,953$1,435,962$1,039,459$3,113,139
85$4,197,804$1,469,194$1,037,151$3,360,149
86$4,587,681$1,502,885$1,033,596$3,630,645
87$5,016,118$1,537,021$1,028,716$3,926,991
88$5,487,012$1,571,584$1,022,428$4,251,788
89$6,004,653$1,606,558$1,014,645$4,607,904
90$6,573,770$1,641,921$1,005,278$4,998,499
91$7,199,570$1,677,652$994,231$5,427,055
92$7,887,794$1,713,724$981,405$5,897,408
93$8,644,763$1,750,111$966,696$6,413,787
94$9,477,444$1,786,781$949,996$6,980,851
95$10,393,513$1,823,703$931,190$7,603,735
96$11,401,425$1,860,838$910,159$8,288,096
97$12,510,500$1,898,149$886,778$9,040,170
98$13,731,003$1,935,590$860,917$9,866,828
99$15,074,247$1,973,116$832,440$10,775,643
100$16,552,696$2,010,675$801,203$11,774,959