Can I retire at age 68 with 949,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $949,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.6%
1 years$78,368$77,669$76,988$76,324$75,675$74,544
2 years$38,796$38,073$37,373$36,694$36,036$34,899
3 years$25,607$24,881$24,183$23,510$22,862$21,755
4 years$19,014$18,290$17,599$16,938$16,306$15,236
5 years$15,059$14,340$13,657$13,010$12,395$11,367
6 years$12,423$11,710$11,037$10,404$9,808$8,822
7 years$10,541$9,834$9,172$8,554$7,977$7,033
8 years$9,131$8,429$7,779$7,176$6,617$5,716
9 years$8,034$7,339$6,700$6,112$5,573$4,714
10 years$7,157$6,469$5,841$5,269$4,748$3,931
11 years$6,440$5,759$5,142$4,585$4,084$3,307
12 years$5,843$5,169$4,564$4,022$3,539$2,801
13 years$5,338$4,671$4,077$3,551$3,086$2,387
14 years$4,906$4,246$3,663$3,152$2,705$2,044
15 years$4,532$3,879$3,308$2,811$2,382$1,757
16 years$4,204$3,559$2,999$2,517$2,105$1,515
17 years$3,916$3,278$2,729$2,261$1,866$1,310
18 years$3,660$3,029$2,491$2,038$1,660$1,136
19 years$3,431$2,807$2,280$1,842$1,479$986
20 years$3,225$2,608$2,093$1,668$1,321$858
21 years$3,039$2,430$1,925$1,514$1,182$748
22 years$2,871$2,268$1,774$1,376$1,060$653
23 years$2,717$2,121$1,638$1,253$951$570
24 years$2,576$1,987$1,515$1,143$855$499
25 years$2,447$1,865$1,403$1,044$769$436
26 years$2,327$1,753$1,301$955$693$382
27 years$2,217$1,650$1,209$874$625$335
28 years$2,115$1,554$1,123$801$564$294
29 years$2,020$1,466$1,045$734$509$258
30 years$1,932$1,385$974$674$460$226
31 years$1,849$1,309$908$619$416$198
32 years$1,772$1,239$847$569$376$174
33 years$1,700$1,173$791$523$340$153
34 years$1,632$1,112$739$481$308$135
35 years$1,568$1,055$691$443$279$118
36 years$1,507$1,001$646$408$253$104
37 years$1,450$951$605$376$229$91
38 years$1,397$903$566$346$208$80
39 years$1,346$859$531$319$189$71
40 years$1,297$817$497$295$171$62
41 years$1,252$778$466$272$155$55
42 years$1,208$741$438$251$141$48
43 years$1,167$706$411$232$128$42
44 years$1,128$673$385$214$116$37
45 years$1,090$642$362$197$105$33
46 years$1,054$612$340$182$96$29
47 years$1,020$584$319$169$87$25
48 years$988$558$300$156$79$22
49 years$956$533$282$144$72$20
50 years$927$509$265$133$65$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $949,000, adding $4,523 every year, while hoping to spend $48,985 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: 52/32/16 Blend
67$949,000$949,000$949,000$949,000
68$1,050,463$1,000,166$985,457$1,100,303
69$1,105,491$997,055$966,350$1,131,839
70$1,164,490$992,149$944,961$1,160,585
71$1,227,813$985,310$921,163$1,190,766
72$1,295,848$976,388$894,820$1,222,532
73$1,369,021$965,227$865,793$1,256,050
74$1,447,799$951,661$833,935$1,291,508
75$1,532,695$935,513$799,092$1,329,117
76$1,624,273$916,597$761,105$1,369,110
77$1,723,152$894,713$719,805$1,411,748
78$1,830,012$869,653$675,018$1,457,321
79$1,945,603$841,195$626,559$1,506,153
80$2,070,744$809,104$574,239$1,558,606
81$2,206,341$773,130$517,857$1,615,081
82$2,353,386$733,013$457,204$1,676,024
83$2,512,973$688,472$392,062$1,741,932
84$2,686,304$639,214$322,203$1,813,359
85$2,874,700$584,929$247,390$1,890,917
86$3,079,615$525,287$167,374$1,975,290
87$3,302,651$459,940$81,896$2,067,234
88$3,545,567$388,523$0$2,167,591
89$3,810,301$310,647$0$2,278,887
90$4,098,985$225,902$0$2,415,588
91$4,413,966$133,855$0$2,564,899
92$4,757,826$34,050$0$2,728,146
93$5,133,411$0$0$2,906,796
94$5,543,848$0$0$3,128,528
95$5,992,585$0$0$3,384,150
96$6,483,417$0$0$3,663,846
97$7,020,520$0$0$3,970,008
98$7,608,495$0$0$4,305,271
99$8,252,408$0$0$4,672,536
100$8,957,838$0$0$5,074,998