Can I retire at age 68 with 940,000?

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 $940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.1%
1 years$77,624$76,933$76,258$75,600$74,957$73,685
2 years$38,428$37,712$37,019$36,346$35,694$34,416
3 years$25,364$24,645$23,953$23,287$22,646$21,402
4 years$18,834$18,117$17,432$16,777$16,151$14,951
5 years$14,916$14,204$13,528$12,886$12,278$11,125
6 years$12,305$11,599$10,933$10,305$9,715$8,611
7 years$10,441$9,740$9,085$8,473$7,901$6,846
8 years$9,044$8,349$7,705$7,108$6,555$5,548
9 years$7,958$7,270$6,636$6,054$5,520$4,561
10 years$7,089$6,408$5,786$5,219$4,703$3,792
11 years$6,379$5,704$5,094$4,542$4,045$3,180
12 years$5,788$5,120$4,520$3,984$3,505$2,685
13 years$5,288$4,627$4,039$3,517$3,057$2,281
14 years$4,859$4,206$3,629$3,122$2,679$1,946
15 years$4,489$3,842$3,276$2,784$2,359$1,667
16 years$4,165$3,525$2,970$2,493$2,085$1,433
17 years$3,879$3,246$2,703$2,240$1,849$1,235
18 years$3,625$3,000$2,467$2,019$1,644$1,066
19 years$3,399$2,780$2,259$1,824$1,465$923
20 years$3,195$2,584$2,073$1,652$1,309$800
21 years$3,011$2,406$1,907$1,499$1,171$695
22 years$2,843$2,246$1,757$1,363$1,050$604
23 years$2,691$2,101$1,623$1,242$942$525
24 years$2,552$1,968$1,501$1,132$847$458
25 years$2,423$1,847$1,390$1,034$762$399
26 years$2,305$1,736$1,289$946$687$348
27 years$2,196$1,634$1,197$865$619$304
28 years$2,095$1,540$1,113$793$559$265
29 years$2,001$1,452$1,036$727$504$232
30 years$1,913$1,372$965$667$456$202
31 years$1,832$1,297$899$613$412$177
32 years$1,755$1,227$839$563$373$155
33 years$1,683$1,162$783$518$337$135
34 years$1,616$1,101$732$477$305$119
35 years$1,553$1,045$684$439$277$104
36 years$1,493$991$640$404$251$91
37 years$1,437$942$599$372$227$79
38 years$1,383$895$561$343$206$70
39 years$1,333$851$526$316$187$61
40 years$1,285$810$493$292$169$53
41 years$1,240$771$462$269$154$47
42 years$1,197$734$433$248$139$41
43 years$1,156$699$407$229$127$36
44 years$1,117$667$382$212$115$31
45 years$1,080$636$358$196$104$28
46 years$1,044$606$337$181$95$24
47 years$1,011$579$316$167$86$21
48 years$978$552$297$154$78$19
49 years$947$528$279$143$71$16
50 years$918$504$263$132$64$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $940,000, adding $5,589 every year, while hoping to spend $21,764 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: 41/50/9 Blend
67$940,000$940,000$940,000$940,000
68$1,041,645$991,825$977,255$1,081,348
69$1,124,736$1,017,268$986,836$1,135,131
70$1,215,573$1,043,228$996,009$1,190,693
71$1,314,923$1,069,707$1,004,737$1,250,334
72$1,423,630$1,096,708$1,012,981$1,314,433
73$1,542,625$1,124,232$1,020,701$1,383,407
74$1,672,932$1,152,278$1,027,853$1,457,715
75$1,815,678$1,180,847$1,034,393$1,537,862
76$1,972,106$1,209,937$1,040,274$1,624,405
77$2,143,583$1,239,546$1,045,445$1,717,955
78$2,331,616$1,269,671$1,049,855$1,819,188
79$2,537,864$1,300,308$1,053,448$1,928,845
80$2,764,155$1,331,452$1,056,167$2,047,744
81$3,012,501$1,363,095$1,057,951$2,176,786
82$3,285,120$1,395,231$1,058,737$2,316,963
83$3,584,455$1,427,850$1,058,457$2,469,366
84$3,913,195$1,460,941$1,057,042$2,635,201
85$4,274,306$1,494,492$1,054,417$2,815,792
86$4,671,052$1,528,489$1,050,507$3,012,600
87$5,107,030$1,562,915$1,045,230$3,227,236
88$5,586,204$1,597,754$1,038,501$3,461,471
89$6,112,938$1,632,986$1,030,232$3,717,261
90$6,692,042$1,668,587$1,020,330$3,996,758
91$7,328,816$1,704,533$1,008,697$4,302,334
92$8,029,098$1,740,798$995,231$4,636,604
93$8,799,320$1,777,351$979,825$5,002,448
94$9,646,569$1,814,160$962,368$5,403,041
95$10,578,654$1,851,188$942,742$5,841,881
96$11,604,178$1,888,398$920,825$6,322,824
97$12,732,620$1,925,745$896,488$6,850,118
98$13,974,424$1,963,184$869,598$7,428,446
99$15,341,100$2,000,664$840,014$8,062,969
100$16,845,327$2,038,131$807,589$8,759,372