Can I retire at age 68 with 948,000?

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 $948,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11%
1 years$78,285$77,588$76,907$76,243$75,595$75,276
2 years$38,755$38,033$37,334$36,655$35,998$35,676
3 years$25,580$24,855$24,157$23,485$22,838$22,524
4 years$18,994$18,271$17,580$16,920$16,288$15,983
5 years$15,043$14,325$13,643$12,996$12,382$12,087
6 years$12,410$11,697$11,026$10,393$9,798$9,513
7 years$10,530$9,823$9,162$8,545$7,968$7,694
8 years$9,121$8,420$7,770$7,168$6,610$6,347
9 years$8,025$7,331$6,693$6,106$5,567$5,315
10 years$7,149$6,462$5,835$5,263$4,743$4,502
11 years$6,433$5,753$5,137$4,580$4,079$3,848
12 years$5,837$5,164$4,559$4,018$3,535$3,314
13 years$5,333$4,666$4,073$3,547$3,083$2,872
14 years$4,901$4,242$3,660$3,149$2,702$2,501
15 years$4,527$3,875$3,304$2,808$2,379$2,188
16 years$4,200$3,555$2,996$2,514$2,103$1,921
17 years$3,912$3,274$2,726$2,259$1,864$1,692
18 years$3,656$3,025$2,488$2,036$1,658$1,494
19 years$3,427$2,804$2,278$1,840$1,478$1,322
20 years$3,222$2,606$2,091$1,666$1,320$1,172
21 years$3,036$2,427$1,923$1,512$1,181$1,042
22 years$2,868$2,265$1,772$1,375$1,059$927
23 years$2,714$2,119$1,636$1,252$950$826
24 years$2,573$1,985$1,513$1,142$854$737
25 years$2,444$1,863$1,402$1,043$769$658
26 years$2,325$1,751$1,300$954$692$588
27 years$2,215$1,648$1,207$873$624$526
28 years$2,113$1,553$1,122$800$563$471
29 years$2,018$1,465$1,044$733$509$422
30 years$1,930$1,383$973$673$460$378
31 years$1,847$1,308$907$618$415$339
32 years$1,770$1,237$846$568$376$304
33 years$1,698$1,172$790$522$340$273
34 years$1,630$1,111$738$481$308$245
35 years$1,566$1,053$690$442$279$220
36 years$1,506$1,000$646$407$253$198
37 years$1,449$950$604$375$229$178
38 years$1,395$902$566$346$208$160
39 years$1,344$858$530$319$188$144
40 years$1,296$816$497$294$171$129
41 years$1,250$777$466$272$155$116
42 years$1,207$740$437$251$141$105
43 years$1,166$705$410$231$128$94
44 years$1,126$672$385$214$116$85
45 years$1,089$641$362$197$105$76
46 years$1,053$612$340$182$95$69
47 years$1,019$584$319$168$87$62
48 years$987$557$300$156$79$56
49 years$955$532$282$144$72$50
50 years$926$508$265$133$65$45

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $948,000, adding $3,954 every year, while hoping to spend $51,965 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: 40/44/16 Blend
67$948,000$948,000$948,000$948,000
68$1,048,775$998,531$983,837$1,085,593
69$1,100,459$992,168$961,505$1,105,766
70$1,155,674$983,752$936,683$1,122,234
71$1,214,724$973,128$909,233$1,138,942
72$1,277,945$960,129$879,011$1,155,938
73$1,345,702$944,583$845,865$1,173,278
74$1,418,399$926,302$809,637$1,191,028
75$1,496,477$905,093$770,161$1,209,265
76$1,580,421$880,746$727,265$1,228,079
77$1,670,764$853,042$680,768$1,247,573
78$1,768,089$821,749$630,481$1,267,866
79$1,873,039$786,620$576,208$1,289,095
80$1,986,319$747,394$517,741$1,311,417
81$2,108,704$703,797$454,865$1,335,010
82$2,241,046$655,536$387,357$1,360,079
83$2,384,280$602,305$314,981$1,386,855
84$2,539,434$543,776$237,491$1,415,602
85$2,707,642$479,606$154,632$1,446,616
86$2,890,146$409,431$66,136$1,480,233
87$3,088,314$332,867$0$1,516,835
88$3,303,652$249,508$0$1,561,681
89$3,537,815$158,924$0$1,622,783
90$3,792,624$60,663$0$1,689,434
91$4,070,083$0$0$1,762,294
92$4,372,397$0$0$1,864,256
93$4,701,993$0$0$2,007,554
94$5,061,541$0$0$2,163,993
95$5,453,981$0$0$2,334,866
96$5,882,550$0$0$2,521,597
97$6,350,809$0$0$2,725,756
98$6,862,680$0$0$2,949,067
99$7,422,480$0$0$3,193,433
100$8,034,964$0$0$3,460,947