Can I retire at age 68 with 941,000?

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 $941,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$77,707$77,015$76,339$75,680$75,037$73,522
2 years$38,469$37,752$37,058$36,385$35,732$34,212
3 years$25,391$24,672$23,979$23,312$22,670$21,193
4 years$18,854$18,136$17,451$16,795$16,168$14,745
5 years$14,932$14,219$13,542$12,900$12,291$10,926
6 years$12,319$11,611$10,944$10,316$9,725$8,420
7 years$10,453$9,751$9,095$8,482$7,909$6,664
8 years$9,054$8,358$7,713$7,115$6,562$5,376
9 years$7,966$7,277$6,643$6,060$5,526$4,399
10 years$7,097$6,415$5,792$5,224$4,708$3,639
11 years$6,386$5,711$5,099$4,547$4,049$3,036
12 years$5,794$5,125$4,525$3,988$3,509$2,551
13 years$5,293$4,632$4,043$3,521$3,060$2,155
14 years$4,865$4,210$3,633$3,125$2,682$1,829
15 years$4,493$3,846$3,280$2,787$2,362$1,558
16 years$4,169$3,529$2,974$2,496$2,087$1,331
17 years$3,883$3,250$2,706$2,242$1,851$1,141
18 years$3,629$3,003$2,470$2,021$1,646$980
19 years$3,402$2,783$2,261$1,826$1,467$843
20 years$3,198$2,586$2,075$1,654$1,310$726
21 years$3,014$2,409$1,909$1,501$1,172$627
22 years$2,847$2,249$1,759$1,365$1,051$541
23 years$2,694$2,103$1,624$1,243$943$468
24 years$2,554$1,971$1,502$1,134$848$405
25 years$2,426$1,849$1,391$1,035$763$351
26 years$2,308$1,738$1,290$947$687$304
27 years$2,199$1,636$1,198$866$620$264
28 years$2,097$1,541$1,114$794$559$229
29 years$2,003$1,454$1,037$728$505$199
30 years$1,915$1,373$966$668$456$172
31 years$1,834$1,298$900$614$412$150
32 years$1,757$1,228$840$564$373$130
33 years$1,685$1,163$784$519$338$113
34 years$1,618$1,102$733$477$306$98
35 years$1,554$1,046$685$439$277$85
36 years$1,495$992$641$404$251$74
37 years$1,438$943$600$373$227$65
38 years$1,385$896$562$344$206$56
39 years$1,334$852$526$317$187$49
40 years$1,286$810$493$292$170$43
41 years$1,241$771$463$270$154$37
42 years$1,198$735$434$249$140$32
43 years$1,157$700$407$230$127$28
44 years$1,118$667$382$212$115$24
45 years$1,081$636$359$196$104$21
46 years$1,045$607$337$181$95$18
47 years$1,012$579$317$167$86$16
48 years$979$553$298$154$78$14
49 years$948$528$280$143$71$12
50 years$919$504$263$132$64$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $941,000, adding $5,849 every year, while hoping to spend $46,294 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: 51/22/27 Blend
67$941,000$941,000$941,000$941,000
68$1,043,015$993,142$978,557$1,088,021
69$1,100,146$992,550$962,082$1,119,368
70$1,161,553$990,377$943,504$1,148,306
71$1,227,623$986,497$922,703$1,178,853
72$1,298,781$980,776$899,554$1,211,184
73$1,375,495$973,071$873,927$1,245,492
74$1,458,277$963,233$845,684$1,281,992
75$1,547,690$951,101$814,684$1,320,924
76$1,644,355$936,505$780,777$1,362,556
77$1,748,952$919,267$743,805$1,407,185
78$1,862,229$899,195$703,607$1,455,143
79$1,985,010$876,089$660,011$1,506,797
80$2,118,198$849,735$612,839$1,562,559
81$2,262,789$819,906$561,904$1,622,882
82$2,419,878$786,366$507,011$1,688,272
83$2,590,667$748,859$447,958$1,759,292
84$2,776,481$707,120$384,531$1,836,564
85$2,978,778$660,865$316,508$1,920,780
86$3,199,161$609,794$243,659$2,012,708
87$3,439,394$553,593$165,740$2,113,200
88$3,701,419$491,926$82,499$2,223,199
89$3,987,374$424,440$0$2,343,751
90$4,299,611$350,763$0$2,477,841
91$4,640,721$270,499$0$2,650,412
92$5,013,553$183,233$0$2,839,176
93$5,421,249$88,524$0$3,045,796
94$5,867,263$0$0$3,272,106
95$6,355,401$0$0$3,523,544
96$6,889,855$0$0$3,822,395
97$7,475,238$0$0$4,149,822
98$8,116,633$0$0$4,508,679
99$8,819,636$0$0$4,902,111
100$9,590,411$0$0$5,333,579