Can I retire at age 68 with 947,000?

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 $947,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$78,202$77,506$76,826$76,163$75,515$73,570
2 years$38,714$37,993$37,294$36,617$35,960$34,013
3 years$25,553$24,829$24,132$23,461$22,814$20,927
4 years$18,974$18,252$17,562$16,902$16,271$14,458
5 years$15,027$14,310$13,629$12,982$12,369$10,635
6 years$12,397$11,685$11,014$10,382$9,787$8,133
7 years$10,519$9,813$9,153$8,536$7,960$6,386
8 years$9,111$8,412$7,762$7,160$6,603$5,110
9 years$8,017$7,324$6,686$6,099$5,561$4,146
10 years$7,142$6,456$5,829$5,257$4,738$3,400
11 years$6,427$5,747$5,131$4,576$4,075$2,812
12 years$5,831$5,158$4,554$4,013$3,531$2,341
13 years$5,327$4,661$4,069$3,543$3,079$1,959
14 years$4,896$4,237$3,656$3,145$2,699$1,647
15 years$4,522$3,871$3,301$2,805$2,377$1,389
16 years$4,196$3,551$2,993$2,512$2,101$1,176
17 years$3,908$3,271$2,723$2,257$1,863$997
18 years$3,652$3,022$2,486$2,034$1,656$847
19 years$3,424$2,801$2,276$1,838$1,476$722
20 years$3,219$2,603$2,088$1,664$1,318$615
21 years$3,033$2,424$1,921$1,510$1,180$525
22 years$2,865$2,263$1,771$1,373$1,058$449
23 years$2,711$2,117$1,635$1,251$949$384
24 years$2,571$1,983$1,512$1,141$853$329
25 years$2,442$1,861$1,400$1,042$768$281
26 years$2,323$1,749$1,299$953$692$241
27 years$2,213$1,646$1,206$872$624$207
28 years$2,111$1,551$1,121$799$563$177
29 years$2,016$1,463$1,043$733$508$152
30 years$1,928$1,382$972$672$459$131
31 years$1,845$1,306$906$617$415$112
32 years$1,768$1,236$845$567$375$96
33 years$1,696$1,171$789$522$340$83
34 years$1,628$1,109$737$480$308$71
35 years$1,564$1,052$689$442$279$61
36 years$1,504$999$645$407$252$52
37 years$1,447$949$604$375$229$45
38 years$1,394$902$565$346$207$39
39 years$1,343$857$530$319$188$33
40 years$1,295$816$496$294$171$29
41 years$1,249$776$465$271$155$25
42 years$1,206$739$437$250$140$21
43 years$1,164$705$410$231$127$18
44 years$1,125$672$385$213$116$16
45 years$1,088$640$361$197$105$13
46 years$1,052$611$339$182$95$12
47 years$1,018$583$319$168$87$10
48 years$985$557$299$155$79$9
49 years$954$531$281$144$71$7
50 years$925$508$265$133$65$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $947,000, adding $5,656 every year, while hoping to spend $30,868 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: 70/22/8 Blend
67$947,000$947,000$947,000$947,000
68$1,049,428$999,237$984,559$1,121,041
69$1,123,627$1,015,356$984,698$1,185,291
70$1,204,359$1,031,231$983,808$1,251,246
71$1,292,258$1,046,816$981,820$1,322,574
72$1,388,023$1,062,065$978,665$1,399,799
73$1,492,420$1,076,924$974,269$1,483,493
74$1,606,294$1,091,341$968,555$1,574,290
75$1,730,575$1,105,257$961,441$1,672,886
76$1,866,287$1,118,607$952,842$1,780,050
77$2,014,557$1,131,327$942,671$1,896,629
78$2,176,623$1,143,344$930,832$2,023,554
79$2,353,853$1,154,582$917,229$2,161,854
80$2,547,750$1,164,960$901,760$2,312,662
81$2,759,969$1,174,392$884,317$2,477,225
82$2,992,333$1,182,784$864,789$2,656,920
83$3,246,850$1,190,040$843,059$2,853,264
84$3,525,731$1,196,054$819,003$3,067,927
85$3,831,410$1,200,715$792,494$3,302,752
86$4,166,569$1,203,905$763,398$3,559,768
87$4,534,161$1,205,499$731,574$3,841,214
88$4,937,440$1,205,363$696,877$4,149,557
89$5,379,989$1,203,355$659,152$4,487,515
90$5,865,753$1,199,325$618,239$4,858,084
91$6,399,081$1,193,114$573,971$5,264,568
92$6,984,762$1,184,551$526,174$5,710,608
93$7,628,071$1,173,457$474,664$6,200,217
94$8,334,820$1,159,642$419,251$6,737,818
95$9,111,411$1,142,904$359,735$7,328,287
96$9,964,897$1,123,028$295,908$7,976,998
97$10,903,048$1,099,788$227,553$8,689,876
98$11,934,425$1,072,944$154,442$9,473,450
99$13,068,460$1,042,241$76,339$10,334,917
100$14,315,543$1,007,411$0$11,282,211