Can I retire at age 68 with 943,000?

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 $943,000?

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$77,872$77,178$76,502$75,841$75,196$74,816
2 years$38,551$37,833$37,137$36,462$35,808$35,424
3 years$25,445$24,724$24,030$23,362$22,718$22,343
4 years$18,894$18,175$17,488$16,831$16,203$15,839
5 years$14,964$14,249$13,571$12,928$12,317$11,966
6 years$12,345$11,636$10,967$10,338$9,746$9,407
7 years$10,475$9,772$9,114$8,500$7,926$7,600
8 years$9,073$8,376$7,729$7,130$6,575$6,263
9 years$7,983$7,293$6,657$6,073$5,537$5,238
10 years$7,112$6,428$5,804$5,235$4,718$4,431
11 years$6,399$5,723$5,110$4,556$4,058$3,783
12 years$5,806$5,136$4,535$3,996$3,516$3,254
13 years$5,305$4,642$4,052$3,528$3,066$2,816
14 years$4,875$4,219$3,640$3,132$2,688$2,450
15 years$4,503$3,854$3,287$2,793$2,367$2,140
16 years$4,178$3,536$2,980$2,501$2,092$1,876
17 years$3,891$3,257$2,712$2,247$1,855$1,650
18 years$3,637$3,009$2,475$2,025$1,649$1,455
19 years$3,409$2,789$2,266$1,830$1,470$1,286
20 years$3,205$2,592$2,080$1,657$1,313$1,139
21 years$3,020$2,414$1,913$1,504$1,175$1,010
22 years$2,853$2,254$1,763$1,368$1,053$898
23 years$2,700$2,108$1,628$1,245$945$799
24 years$2,560$1,975$1,505$1,136$850$711
25 years$2,431$1,853$1,394$1,037$765$634
26 years$2,313$1,742$1,293$949$689$566
27 years$2,203$1,639$1,201$868$621$506
28 years$2,102$1,545$1,116$795$560$452
29 years$2,007$1,457$1,039$729$506$404
30 years$1,920$1,376$968$669$457$362
31 years$1,837$1,301$902$615$413$324
32 years$1,761$1,231$842$565$374$290
33 years$1,689$1,166$786$520$338$260
34 years$1,621$1,105$734$478$306$233
35 years$1,558$1,048$687$440$277$209
36 years$1,498$995$642$405$251$188
37 years$1,441$945$601$373$228$168
38 years$1,388$898$563$344$207$151
39 years$1,337$854$527$317$187$136
40 years$1,289$812$494$293$170$122
41 years$1,244$773$464$270$154$109
42 years$1,201$736$435$249$140$98
43 years$1,160$702$408$230$127$88
44 years$1,120$669$383$212$115$79
45 years$1,083$638$360$196$105$71
46 years$1,048$608$338$181$95$64
47 years$1,014$581$317$167$86$57
48 years$981$554$298$155$78$52
49 years$950$529$280$143$71$46
50 years$921$506$263$132$65$42

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $943,000, adding $6,733 every year, while hoping to spend $56,858 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: 21/50/29 Blend
67$943,000$943,000$943,000$943,000
68$1,046,131$996,152$981,536$1,058,372
69$1,092,340$984,467$953,921$1,058,412
70$1,141,357$970,304$923,475$1,053,308
71$1,193,407$953,481$890,043$1,046,620
72$1,248,739$933,806$853,465$1,038,255
73$1,307,624$911,076$813,569$1,028,119
74$1,370,357$885,074$770,179$1,016,114
75$1,437,264$855,574$723,111$1,002,141
76$1,508,701$822,332$672,170$986,098
77$1,585,055$785,094$617,155$967,879
78$1,666,756$743,588$557,855$947,380
79$1,754,272$697,530$494,049$924,492
80$1,848,115$646,617$425,507$899,106
81$1,948,849$590,528$351,989$871,114
82$2,057,094$528,926$273,243$840,406
83$2,173,528$461,454$189,007$806,874
84$2,298,896$387,733$99,007$770,410
85$2,434,018$307,366$2,958$730,909
86$2,579,792$219,931$0$688,268
87$2,737,206$124,983$0$673,192
88$2,907,346$22,052$0$657,766
89$3,091,405$0$0$641,088
90$3,290,694$0$0$672,351
91$3,506,656$0$0$719,520
92$3,740,877$0$0$770,826
93$3,995,098$0$0$826,669
94$4,271,239$0$0$887,490
95$4,571,408$0$0$953,775
96$4,897,926$0$0$1,026,057
97$5,253,347$0$0$1,104,925
98$5,640,479$0$0$1,191,025
99$6,062,414$0$0$1,285,069
100$6,522,555$0$0$1,387,841