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%15.4%
1 years$77,955$77,260$76,583$75,922$75,276$73,606
2 years$38,591$37,873$37,176$36,501$35,846$34,172
3 years$25,472$24,750$24,055$23,386$22,742$21,116
4 years$18,914$18,194$17,506$16,849$16,220$14,655
5 years$14,980$14,264$13,586$12,941$12,330$10,831
6 years$12,358$11,648$10,979$10,349$9,756$8,324
7 years$10,486$9,782$9,124$8,509$7,934$6,569
8 years$9,082$8,385$7,738$7,138$6,582$5,284
9 years$7,992$7,301$6,664$6,080$5,543$4,311
10 years$7,119$6,435$5,810$5,241$4,723$3,555
11 years$6,406$5,729$5,115$4,561$4,062$2,957
12 years$5,812$5,142$4,540$4,001$3,520$2,476
13 years$5,310$4,647$4,056$3,532$3,070$2,085
14 years$4,880$4,224$3,644$3,135$2,691$1,763
15 years$4,508$3,858$3,290$2,796$2,369$1,497
16 years$4,182$3,540$2,983$2,504$2,094$1,275
17 years$3,895$3,260$2,714$2,250$1,857$1,088
18 years$3,641$3,013$2,478$2,027$1,651$931
19 years$3,413$2,792$2,268$1,832$1,471$798
20 years$3,208$2,595$2,082$1,659$1,314$685
21 years$3,023$2,417$1,915$1,506$1,176$589
22 years$2,856$2,256$1,765$1,369$1,054$507
23 years$2,703$2,110$1,630$1,247$946$437
24 years$2,562$1,977$1,507$1,137$851$376
25 years$2,434$1,855$1,396$1,039$765$325
26 years$2,315$1,744$1,295$950$689$280
27 years$2,206$1,641$1,202$869$622$242
28 years$2,104$1,546$1,118$796$561$209
29 years$2,010$1,459$1,040$730$506$181
30 years$1,922$1,378$969$670$458$156
31 years$1,839$1,302$903$616$414$135
32 years$1,763$1,232$843$566$374$117
33 years$1,691$1,167$787$520$339$101
34 years$1,623$1,106$735$479$307$88
35 years$1,559$1,049$687$441$278$76
36 years$1,499$996$643$406$252$66
37 years$1,443$946$602$374$228$57
38 years$1,389$899$564$345$207$49
39 years$1,339$855$528$318$188$43
40 years$1,291$813$495$293$170$37
41 years$1,245$774$464$270$154$32
42 years$1,202$737$435$250$140$28
43 years$1,161$702$408$230$127$24
44 years$1,122$669$383$213$115$21
45 years$1,084$638$360$196$105$18
46 years$1,049$609$338$181$95$16
47 years$1,015$581$318$168$86$14
48 years$982$555$298$155$78$12
49 years$951$530$281$143$71$10
50 years$922$506$264$132$65$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $944,000, adding $5,211 every year, while hoping to spend $44,710 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: 67/8/25 Blend
67$944,000$944,000$944,000$944,000
68$1,045,663$995,631$980,999$1,108,641
69$1,104,750$996,846$966,292$1,152,838
70$1,168,365$996,622$949,593$1,195,595
71$1,236,922$994,841$930,789$1,241,330
72$1,310,879$991,379$909,761$1,290,340
73$1,390,734$986,102$886,383$1,342,950
74$1,477,039$978,870$860,526$1,399,521
75$1,570,396$969,534$832,054$1,460,452
76$1,671,471$957,936$800,822$1,526,182
77$1,780,994$943,908$766,682$1,597,199
78$1,899,767$927,271$729,478$1,674,041
79$2,028,675$907,839$689,047$1,757,301
80$2,168,687$885,411$645,218$1,847,636
81$2,320,874$859,776$597,813$1,945,772
82$2,486,409$830,711$546,646$2,052,509
83$2,666,586$797,980$491,522$2,168,732
84$2,862,828$761,331$432,238$2,295,419
85$3,076,700$720,500$368,582$2,433,648
86$3,309,927$675,207$300,332$2,584,612
87$3,564,403$625,156$227,257$2,749,626
88$3,842,217$570,034$149,116$2,930,143
89$4,145,667$509,510$65,655$3,127,766
90$4,477,283$443,233$0$3,344,268
91$4,839,849$370,835$0$3,587,847
92$5,236,433$291,925$0$3,873,511
93$5,670,410$206,090$0$4,186,186
94$6,145,498$112,894$0$4,528,581
95$6,665,791$11,879$0$4,903,679
96$7,235,798$0$0$5,314,767
97$7,860,483$0$0$5,774,046
98$8,545,316$0$0$6,278,751
99$9,296,318$0$0$6,832,282
100$10,120,123$0$0$7,439,536