Can I retire at age 68 with 962,000?

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 $962,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.7%
1 years$79,441$78,733$78,043$77,369$76,711$74,615
2 years$39,327$38,595$37,885$37,197$36,529$34,432
3 years$25,958$25,222$24,514$23,832$23,176$21,144
4 years$19,274$18,541$17,840$17,170$16,529$14,578
5 years$15,265$14,536$13,845$13,188$12,565$10,701
6 years$12,593$11,870$11,188$10,547$9,942$8,166
7 years$10,686$9,968$9,298$8,671$8,086$6,397
8 years$9,256$8,545$7,885$7,274$6,708$5,107
9 years$8,144$7,440$6,791$6,196$5,649$4,133
10 years$7,255$6,558$5,921$5,341$4,813$3,381
11 years$6,528$5,838$5,213$4,648$4,140$2,789
12 years$5,923$5,240$4,626$4,077$3,587$2,316
13 years$5,411$4,735$4,133$3,599$3,128$1,933
14 years$4,973$4,304$3,714$3,195$2,742$1,620
15 years$4,594$3,932$3,353$2,849$2,414$1,363
16 years$4,262$3,608$3,040$2,551$2,134$1,150
17 years$3,970$3,322$2,766$2,292$1,892$973
18 years$3,710$3,070$2,525$2,066$1,682$824
19 years$3,478$2,845$2,312$1,867$1,499$700
20 years$3,270$2,644$2,122$1,691$1,339$595
21 years$3,081$2,463$1,951$1,534$1,199$506
22 years$2,910$2,299$1,799$1,395$1,074$431
23 years$2,754$2,150$1,661$1,271$964$368
24 years$2,611$2,015$1,536$1,159$867$314
25 years$2,480$1,891$1,422$1,058$780$268
26 years$2,359$1,777$1,319$968$703$229
27 years$2,248$1,672$1,225$886$633$196
28 years$2,144$1,576$1,139$812$572$167
29 years$2,048$1,486$1,060$744$516$143
30 years$1,958$1,404$987$683$466$122
31 years$1,875$1,327$920$627$422$105
32 years$1,796$1,256$859$576$381$90
33 years$1,723$1,189$802$530$345$77
34 years$1,654$1,127$749$488$312$66
35 years$1,589$1,069$700$449$283$56
36 years$1,528$1,015$655$414$256$48
37 years$1,470$964$613$381$232$41
38 years$1,416$916$574$351$211$35
39 years$1,364$871$538$324$191$30
40 years$1,315$829$504$299$173$26
41 years$1,269$789$473$276$157$22
42 years$1,225$751$444$254$143$19
43 years$1,183$716$416$235$129$16
44 years$1,143$682$391$217$118$14
45 years$1,105$651$367$200$107$12
46 years$1,069$621$345$185$97$10
47 years$1,034$592$324$171$88$9
48 years$1,001$565$304$158$80$8
49 years$969$540$286$146$73$6
50 years$939$516$269$135$66$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $962,000, adding $2,225 every year, while hoping to spend $50,019 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: 48/29/23 Blend
67$962,000$962,000$962,000$962,000
68$1,062,419$1,011,433$996,522$1,106,381
69$1,117,566$1,007,773$976,686$1,133,658
70$1,176,661$1,002,258$954,508$1,158,086
71$1,240,055$994,743$929,859$1,183,596
72$1,308,132$985,077$902,600$1,210,312
73$1,381,312$973,096$872,588$1,238,373
74$1,460,059$958,631$839,673$1,267,937
75$1,544,881$941,499$803,697$1,299,180
76$1,636,335$921,509$764,497$1,332,299
77$1,735,034$898,456$721,901$1,367,517
78$1,841,652$872,125$675,730$1,405,080
79$1,956,929$842,288$625,795$1,445,268
80$2,081,679$808,703$571,902$1,488,390
81$2,216,795$771,114$513,845$1,534,792
82$2,363,260$729,250$451,411$1,584,863
83$2,522,156$682,827$384,377$1,639,033
84$2,694,671$631,541$312,509$1,697,785
85$2,882,113$575,072$235,564$1,761,656
86$3,085,921$513,083$153,288$1,831,242
87$3,307,678$445,217$65,415$1,907,210
88$3,549,123$371,095$0$1,990,300
89$3,812,174$290,319$0$2,088,296
90$4,098,939$202,467$0$2,212,738
91$4,411,738$107,096$0$2,348,647
92$4,753,127$3,735$0$2,497,231
93$5,125,915$0$0$2,659,825
94$5,533,200$0$0$2,872,408
95$5,978,387$0$0$3,106,180
96$6,465,228$0$0$3,361,931
97$6,997,854$0$0$3,641,844
98$7,580,813$0$0$3,948,325
99$8,219,113$0$0$4,284,019
100$8,918,269$0$0$4,651,842