Can I retire at age 68 with 938,000?

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 $938,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$77,459$76,769$76,096$75,439$74,797$74,420
2 years$38,346$37,632$36,940$36,269$35,618$35,237
3 years$25,310$24,593$23,903$23,238$22,597$22,224
4 years$18,793$18,078$17,395$16,741$16,117$15,755
5 years$14,884$14,174$13,499$12,859$12,252$11,902
6 years$12,279$11,574$10,909$10,283$9,694$9,358
7 years$10,419$9,720$9,066$8,455$7,884$7,560
8 years$9,025$8,332$7,688$7,092$6,541$6,230
9 years$7,941$7,254$6,622$6,041$5,508$5,210
10 years$7,074$6,394$5,773$5,208$4,693$4,408
11 years$6,365$5,692$5,083$4,532$4,036$3,763
12 years$5,775$5,109$4,511$3,975$3,498$3,237
13 years$5,276$4,617$4,030$3,510$3,050$2,801
14 years$4,849$4,197$3,621$3,115$2,674$2,437
15 years$4,479$3,834$3,269$2,778$2,354$2,129
16 years$4,156$3,518$2,964$2,488$2,081$1,866
17 years$3,871$3,240$2,697$2,235$1,845$1,641
18 years$3,618$2,993$2,462$2,014$1,640$1,447
19 years$3,391$2,774$2,254$1,820$1,462$1,279
20 years$3,188$2,578$2,069$1,649$1,306$1,133
21 years$3,004$2,401$1,903$1,496$1,169$1,005
22 years$2,837$2,242$1,754$1,360$1,048$893
23 years$2,685$2,096$1,619$1,239$940$794
24 years$2,546$1,964$1,497$1,130$845$708
25 years$2,418$1,843$1,387$1,032$761$631
26 years$2,300$1,732$1,286$944$685$563
27 years$2,192$1,630$1,194$864$618$503
28 years$2,091$1,536$1,110$791$557$450
29 years$1,997$1,449$1,033$726$503$402
30 years$1,909$1,369$963$666$455$360
31 years$1,828$1,294$897$612$411$322
32 years$1,751$1,224$837$562$372$289
33 years$1,680$1,159$782$517$337$259
34 years$1,613$1,099$730$476$305$232
35 years$1,549$1,042$683$438$276$208
36 years$1,490$989$639$403$250$187
37 years$1,434$940$598$371$227$167
38 years$1,380$893$560$342$205$150
39 years$1,330$849$525$316$186$135
40 years$1,282$808$492$291$169$121
41 years$1,237$769$461$269$153$109
42 years$1,194$732$432$248$139$98
43 years$1,153$698$406$229$126$88
44 years$1,114$665$381$211$115$79
45 years$1,077$634$358$195$104$71
46 years$1,042$605$336$180$94$64
47 years$1,008$577$316$167$86$57
48 years$976$551$297$154$78$51
49 years$945$526$279$142$71$46
50 years$916$503$262$131$64$41

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $938,000, adding $4,734 every year, while hoping to spend $23,329 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: 56/33/11 Blend
67$938,000$938,000$938,000$938,000
68$1,038,559$988,845$974,306$1,093,612
69$1,119,670$1,012,477$982,124$1,155,023
70$1,208,273$1,036,484$989,421$1,218,902
71$1,305,106$1,060,862$996,156$1,287,927
72$1,410,985$1,085,602$1,002,285$1,362,592
73$1,526,805$1,110,696$1,007,761$1,443,442
74$1,653,554$1,136,134$1,012,536$1,531,078
75$1,792,318$1,161,907$1,016,557$1,626,161
76$1,944,294$1,188,000$1,019,772$1,729,419
77$2,110,800$1,214,400$1,022,122$1,841,654
78$2,293,288$1,241,091$1,023,549$1,963,750
79$2,493,356$1,268,057$1,023,991$2,096,681
80$2,712,764$1,295,278$1,023,381$2,241,518
81$2,953,453$1,322,734$1,021,651$2,399,444
82$3,217,557$1,350,400$1,018,728$2,571,760
83$3,507,430$1,378,251$1,014,537$2,759,901
84$3,825,662$1,406,260$1,008,999$2,965,448
85$4,175,110$1,434,397$1,002,030$3,190,143
86$4,558,916$1,462,628$993,544$3,435,905
87$4,980,547$1,490,918$983,449$3,704,848
88$5,443,817$1,519,227$971,649$3,999,305
89$5,952,931$1,547,514$958,044$4,321,844
90$6,512,521$1,575,733$942,529$4,675,295
91$7,127,690$1,603,836$924,995$5,062,778
92$7,804,059$1,631,768$905,327$5,487,731
93$8,547,821$1,659,474$883,404$5,953,943
94$9,365,802$1,686,891$859,101$6,465,590
95$10,265,519$1,713,953$832,286$7,027,274
96$11,255,256$1,740,591$802,822$7,644,067
97$12,344,140$1,766,728$770,564$8,321,558
98$13,542,226$1,792,281$735,362$9,065,909
99$14,860,595$1,817,165$697,059$9,883,908
100$16,311,456$1,841,286$655,490$10,783,040