Can I retire at age 68 with 944,000?

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 $944,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.6%
1 years$77,955$77,260$76,583$75,922$75,276$73,546
2 years$38,591$37,873$37,176$36,501$35,846$34,112
3 years$25,472$24,750$24,055$23,386$22,742$21,059
4 years$18,914$18,194$17,506$16,849$16,220$14,601
5 years$14,980$14,264$13,586$12,941$12,330$10,779
6 years$12,358$11,648$10,979$10,349$9,756$8,275
7 years$10,486$9,782$9,124$8,509$7,934$6,524
8 years$9,082$8,385$7,738$7,138$6,582$5,241
9 years$7,992$7,301$6,664$6,080$5,543$4,271
10 years$7,119$6,435$5,810$5,241$4,723$3,518
11 years$6,406$5,729$5,115$4,561$4,062$2,922
12 years$5,812$5,142$4,540$4,001$3,520$2,444
13 years$5,310$4,647$4,056$3,532$3,070$2,055
14 years$4,880$4,224$3,644$3,135$2,691$1,736
15 years$4,508$3,858$3,290$2,796$2,369$1,471
16 years$4,182$3,540$2,983$2,504$2,094$1,251
17 years$3,895$3,260$2,714$2,250$1,857$1,067
18 years$3,641$3,013$2,478$2,027$1,651$911
19 years$3,413$2,792$2,268$1,832$1,471$780
20 years$3,208$2,595$2,082$1,659$1,314$669
21 years$3,023$2,417$1,915$1,506$1,176$574
22 years$2,856$2,256$1,765$1,369$1,054$493
23 years$2,703$2,110$1,630$1,247$946$424
24 years$2,562$1,977$1,507$1,137$851$365
25 years$2,434$1,855$1,396$1,039$765$314
26 years$2,315$1,744$1,295$950$689$271
27 years$2,206$1,641$1,202$869$622$234
28 years$2,104$1,546$1,118$796$561$202
29 years$2,010$1,459$1,040$730$506$174
30 years$1,922$1,378$969$670$458$150
31 years$1,839$1,302$903$616$414$130
32 years$1,763$1,232$843$566$374$112
33 years$1,691$1,167$787$520$339$97
34 years$1,623$1,106$735$479$307$84
35 years$1,559$1,049$687$441$278$72
36 years$1,499$996$643$406$252$62
37 years$1,443$946$602$374$228$54
38 years$1,389$899$564$345$207$47
39 years$1,339$855$528$318$188$40
40 years$1,291$813$495$293$170$35
41 years$1,245$774$464$270$154$30
42 years$1,202$737$435$250$140$26
43 years$1,161$702$408$230$127$23
44 years$1,122$669$383$213$115$20
45 years$1,084$638$360$196$105$17
46 years$1,049$609$338$181$95$15
47 years$1,015$581$318$168$86$13
48 years$982$555$298$155$78$11
49 years$951$530$281$143$71$9
50 years$922$506$264$132$65$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $944,000, adding $3,321 every year, while hoping to spend $49,828 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: 73/18/9 Blend
67$944,000$944,000$944,000$944,000
68$1,043,714$993,682$979,050$1,118,024
69$1,097,156$989,355$958,831$1,163,189
70$1,154,379$983,147$936,265$1,206,096
71$1,215,716$974,912$911,221$1,251,703
72$1,281,533$964,497$883,561$1,300,264
73$1,352,231$951,738$853,141$1,352,057
74$1,428,249$936,464$819,812$1,407,389
75$1,510,070$918,491$783,416$1,466,601
76$1,598,226$897,625$743,789$1,530,066
77$1,693,299$873,663$700,759$1,598,201
78$1,795,929$846,385$654,148$1,671,461
79$1,906,819$815,564$603,768$1,750,353
80$2,026,743$780,955$549,422$1,835,433
81$2,156,550$742,301$490,907$1,927,319
82$2,297,175$699,330$428,009$2,026,691
83$2,449,644$651,755$360,505$2,134,300
84$2,615,086$599,270$288,160$2,250,975
85$2,794,745$541,554$210,734$2,377,633
86$2,989,986$478,266$127,970$2,515,285
87$3,202,312$409,049$39,604$2,665,047
88$3,433,376$333,521$0$2,828,154
89$3,684,999$251,282$0$3,011,219
90$3,959,182$161,907$0$3,214,891
91$4,258,128$64,951$0$3,437,053
92$4,584,263$0$0$3,679,564
93$4,940,255$0$0$3,952,415
94$5,329,043$0$0$4,264,492
95$5,753,861$0$0$4,605,532
96$6,218,271$0$0$4,978,400
97$6,726,192$0$0$5,386,247
98$7,281,941$0$0$5,832,547
99$7,890,271$0$0$6,321,121
100$8,556,416$0$0$6,856,181