Can I retire at age 68 with 954,000?

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 $954,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16%
1 years$78,780$78,079$77,394$76,726$76,073$74,204
2 years$39,000$38,274$37,570$36,887$36,225$34,354
3 years$25,742$25,012$24,310$23,634$22,983$21,167
4 years$19,114$18,387$17,692$17,027$16,392$14,646
5 years$15,138$14,415$13,729$13,078$12,461$10,790
6 years$12,489$11,771$11,095$10,459$9,860$8,266
7 years$10,597$9,886$9,220$8,599$8,019$6,501
8 years$9,179$8,474$7,820$7,213$6,652$5,211
9 years$8,076$7,378$6,735$6,144$5,602$4,236
10 years$7,195$6,503$5,872$5,296$4,773$3,480
11 years$6,474$5,789$5,169$4,609$4,105$2,884
12 years$5,874$5,196$4,588$4,043$3,557$2,405
13 years$5,366$4,696$4,099$3,569$3,102$2,017
14 years$4,932$4,268$3,683$3,169$2,719$1,699
15 years$4,556$3,899$3,325$2,826$2,394$1,436
16 years$4,227$3,578$3,015$2,530$2,116$1,218
17 years$3,937$3,295$2,743$2,273$1,876$1,035
18 years$3,679$3,045$2,504$2,049$1,668$882
19 years$3,449$2,822$2,292$1,851$1,487$753
20 years$3,242$2,622$2,104$1,677$1,328$643
21 years$3,055$2,442$1,935$1,522$1,189$550
22 years$2,886$2,280$1,784$1,384$1,065$471
23 years$2,731$2,132$1,647$1,260$956$404
24 years$2,590$1,998$1,523$1,149$860$347
25 years$2,460$1,875$1,411$1,050$774$298
26 years$2,340$1,762$1,308$960$697$256
27 years$2,229$1,658$1,215$878$628$220
28 years$2,126$1,563$1,129$805$567$189
29 years$2,031$1,474$1,051$738$512$163
30 years$1,942$1,392$979$677$462$140
31 years$1,859$1,316$913$622$418$120
32 years$1,781$1,245$852$572$378$104
33 years$1,708$1,179$795$526$342$89
34 years$1,640$1,118$743$484$310$77
35 years$1,576$1,060$695$445$281$66
36 years$1,515$1,006$650$410$254$57
37 years$1,458$956$608$378$230$49
38 years$1,404$908$569$348$209$42
39 years$1,353$864$534$321$189$36
40 years$1,304$822$500$296$172$31
41 years$1,258$782$469$273$156$27
42 years$1,215$745$440$252$141$23
43 years$1,173$710$413$233$128$20
44 years$1,133$677$387$215$117$17
45 years$1,096$645$364$199$106$15
46 years$1,060$615$342$183$96$13
47 years$1,026$587$321$169$87$11
48 years$993$561$302$157$79$10
49 years$961$535$284$145$72$8
50 years$931$511$267$134$65$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $954,000, adding $4,584 every year, while hoping to spend $23,600 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: 34/43/23 Blend
67$954,000$954,000$954,000$954,000
68$1,056,036$1,005,474$990,687$1,084,406
69$1,138,642$1,029,632$998,765$1,130,067
70$1,228,882$1,054,183$1,006,323$1,176,799
71$1,327,511$1,079,121$1,013,317$1,226,717
72$1,435,359$1,104,439$1,019,705$1,280,117
73$1,553,338$1,130,130$1,025,438$1,337,328
74$1,682,457$1,156,184$1,030,468$1,398,711
75$1,823,821$1,182,592$1,034,743$1,464,664
76$1,978,653$1,209,340$1,038,208$1,535,626
77$2,148,294$1,236,416$1,040,807$1,612,080
78$2,334,225$1,263,806$1,042,479$1,694,561
79$2,538,075$1,291,491$1,043,161$1,783,656
80$2,761,639$1,319,455$1,042,788$1,880,015
81$3,006,895$1,347,677$1,041,289$1,984,351
82$3,276,018$1,376,133$1,038,593$2,097,454
83$3,571,409$1,404,801$1,034,623$2,220,194
84$3,895,708$1,433,651$1,029,298$2,353,528
85$4,251,827$1,462,657$1,022,536$2,498,514
86$4,642,970$1,491,784$1,014,248$2,656,319
87$5,072,670$1,520,998$1,004,342$2,828,227
88$5,544,817$1,550,262$992,723$3,015,656
89$6,063,698$1,579,533$979,288$3,220,171
90$6,634,033$1,608,769$963,932$3,443,494
91$7,261,025$1,637,919$946,544$3,687,528
92$7,950,406$1,666,933$927,010$3,954,368
93$8,708,489$1,695,755$905,206$4,246,327
94$9,542,231$1,724,324$881,007$4,565,954
95$10,459,298$1,752,575$854,281$4,916,059
96$11,468,135$1,780,439$824,887$5,299,744
97$12,578,045$1,807,841$792,681$5,720,426
98$13,799,281$1,834,700$757,511$6,181,874
99$15,143,138$1,860,932$719,219$6,688,243
100$16,622,064$1,886,443$677,638$7,244,118