Can I retire at age 68 with 945,000?

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 $945,000?

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$78,037$77,342$76,664$76,002$75,356$74,975
2 years$38,632$37,913$37,215$36,539$35,884$35,500
3 years$25,499$24,776$24,081$23,411$22,766$22,390
4 years$18,934$18,213$17,525$16,866$16,237$15,873
5 years$14,996$14,279$13,600$12,955$12,343$11,991
6 years$12,371$11,660$10,991$10,360$9,767$9,427
7 years$10,497$9,792$9,133$8,518$7,943$7,617
8 years$9,092$8,394$7,746$7,145$6,589$6,276
9 years$8,000$7,308$6,671$6,086$5,549$5,249
10 years$7,127$6,442$5,816$5,246$4,728$4,441
11 years$6,413$5,735$5,121$4,566$4,066$3,791
12 years$5,818$5,147$4,544$4,005$3,524$3,261
13 years$5,316$4,652$4,060$3,536$3,073$2,822
14 years$4,885$4,228$3,648$3,139$2,694$2,455
15 years$4,513$3,863$3,294$2,799$2,372$2,145
16 years$4,187$3,544$2,986$2,506$2,096$1,880
17 years$3,900$3,264$2,717$2,252$1,859$1,654
18 years$3,645$3,016$2,481$2,029$1,653$1,458
19 years$3,417$2,795$2,271$1,834$1,473$1,289
20 years$3,212$2,597$2,084$1,661$1,316$1,141
21 years$3,027$2,419$1,917$1,507$1,177$1,012
22 years$2,859$2,258$1,767$1,370$1,055$900
23 years$2,705$2,112$1,631$1,248$947$800
24 years$2,565$1,979$1,509$1,138$852$713
25 years$2,436$1,857$1,397$1,040$766$636
26 years$2,318$1,745$1,296$951$690$567
27 years$2,208$1,643$1,203$870$622$507
28 years$2,106$1,548$1,119$797$561$453
29 years$2,012$1,460$1,041$731$507$405
30 years$1,924$1,379$970$671$458$363
31 years$1,841$1,304$904$616$414$325
32 years$1,764$1,233$843$566$375$291
33 years$1,692$1,168$788$521$339$261
34 years$1,625$1,107$736$479$307$234
35 years$1,561$1,050$688$441$278$209
36 years$1,501$997$644$406$252$188
37 years$1,444$947$602$374$228$169
38 years$1,391$900$564$345$207$151
39 years$1,340$855$529$318$188$136
40 years$1,292$814$495$293$170$122
41 years$1,246$775$464$271$154$110
42 years$1,203$738$436$250$140$98
43 years$1,162$703$409$231$127$88
44 years$1,123$670$384$213$115$79
45 years$1,085$639$360$197$105$71
46 years$1,050$610$338$182$95$64
47 years$1,016$582$318$168$86$58
48 years$983$555$299$155$78$52
49 years$952$530$281$143$71$46
50 years$923$507$264$132$65$42

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $945,000, adding $4,195 every year, while hoping to spend $57,872 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: 70/14/16 Blend
67$945,000$945,000$945,000$945,000
68$1,045,717$995,632$980,985$1,114,739
69$1,090,805$982,843$952,272$1,148,404
70$1,138,552$967,487$920,658$1,177,915
71$1,189,169$949,378$885,985$1,208,735
72$1,242,884$928,318$848,086$1,240,984
73$1,299,950$904,098$806,788$1,274,797
74$1,360,641$876,494$761,912$1,310,323
75$1,425,258$845,274$713,267$1,347,729
76$1,494,129$810,187$660,656$1,387,198
77$1,567,615$770,971$603,873$1,428,938
78$1,646,110$727,347$542,701$1,473,176
79$1,730,048$679,022$476,917$1,520,165
80$1,819,903$625,684$406,283$1,570,187
81$1,916,195$567,004$330,556$1,623,554
82$2,019,494$502,635$249,477$1,680,614
83$2,130,428$432,209$162,779$1,741,752
84$2,249,682$355,338$70,183$1,807,394
85$2,378,011$271,611$0$1,878,014
86$2,516,244$180,596$0$1,959,026
87$2,665,291$81,835$0$2,059,228
88$2,826,151$0$0$2,167,326
89$2,999,922$0$0$2,287,966
90$3,187,811$0$0$2,432,079
91$3,391,145$0$0$2,588,080
92$3,611,381$0$0$2,757,093
93$3,850,123$0$0$2,940,354
94$4,109,133$0$0$3,139,221
95$4,390,351$0$0$3,355,190
96$4,695,909$0$0$3,589,904
97$5,028,153$0$0$3,845,173
98$5,389,663$0$0$4,122,985
99$5,783,280$0$0$4,425,531
100$6,212,127$0$0$4,755,220