Can I retire at age 68 with 968,000?

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 $968,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$79,937$79,225$78,530$77,852$77,190$75,724
2 years$39,573$38,836$38,121$37,429$36,757$35,286
3 years$26,120$25,379$24,667$23,981$23,320$21,890
4 years$19,395$18,657$17,951$17,277$16,632$15,253
5 years$15,360$14,627$13,931$13,270$12,643$11,320
6 years$12,672$11,944$11,258$10,612$10,004$8,738
7 years$10,752$10,031$9,356$8,725$8,136$6,927
8 years$9,313$8,598$7,934$7,319$6,750$5,598
9 years$8,195$7,486$6,834$6,234$5,684$4,589
10 years$7,300$6,599$5,958$5,374$4,843$3,803
11 years$6,569$5,874$5,245$4,677$4,165$3,179
12 years$5,960$5,273$4,655$4,102$3,610$2,676
13 years$5,445$4,765$4,159$3,622$3,148$2,265
14 years$5,004$4,331$3,737$3,215$2,759$1,926
15 years$4,622$3,957$3,374$2,867$2,429$1,645
16 years$4,289$3,630$3,059$2,567$2,147$1,408
17 years$3,994$3,343$2,783$2,307$1,904$1,209
18 years$3,733$3,089$2,541$2,079$1,693$1,041
19 years$3,500$2,863$2,326$1,878$1,509$897
20 years$3,290$2,660$2,135$1,701$1,348$775
21 years$3,100$2,478$1,964$1,544$1,206$670
22 years$2,928$2,313$1,810$1,404$1,081$580
23 years$2,771$2,164$1,671$1,278$970$503
24 years$2,628$2,027$1,545$1,166$872$436
25 years$2,496$1,902$1,431$1,065$785$379
26 years$2,374$1,788$1,327$974$707$329
27 years$2,262$1,683$1,233$891$637$286
28 years$2,157$1,586$1,146$817$575$249
29 years$2,061$1,496$1,066$749$519$217
30 years$1,970$1,413$993$687$469$189
31 years$1,886$1,335$926$631$424$164
32 years$1,807$1,264$864$580$384$143
33 years$1,734$1,197$807$533$347$125
34 years$1,664$1,134$754$491$314$109
35 years$1,599$1,076$705$452$285$95
36 years$1,537$1,021$659$416$258$82
37 years$1,479$970$617$383$234$72
38 years$1,425$922$578$353$212$63
39 years$1,373$876$541$326$192$55
40 years$1,323$834$507$301$174$48
41 years$1,277$794$476$277$158$42
42 years$1,232$756$446$256$144$36
43 years$1,190$720$419$236$130$32
44 years$1,150$686$393$218$118$28
45 years$1,112$655$369$201$107$24
46 years$1,075$624$347$186$97$21
47 years$1,041$596$326$172$89$18
48 years$1,007$569$306$159$80$16
49 years$976$543$288$147$73$14
50 years$945$519$270$136$66$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $968,000, adding $4,886 every year, while hoping to spend $22,165 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: 86/9/5 Blend
67$968,000$968,000$968,000$968,000
68$1,071,776$1,020,472$1,005,468$1,163,571
69$1,157,514$1,046,892$1,015,568$1,250,528
70$1,251,254$1,073,863$1,025,263$1,342,484
71$1,353,789$1,101,390$1,034,517$1,442,808
72$1,465,993$1,129,475$1,043,290$1,552,324
73$1,588,826$1,158,121$1,051,542$1,671,943
74$1,723,347$1,187,330$1,059,229$1,802,665
75$1,870,721$1,217,102$1,066,307$1,945,593
76$2,032,233$1,247,438$1,072,727$2,101,940
77$2,209,296$1,278,338$1,078,438$2,273,046
78$2,403,468$1,309,800$1,083,389$2,460,382
79$2,616,463$1,341,822$1,087,524$2,665,570
80$2,850,171$1,374,399$1,090,785$2,890,399
81$3,106,671$1,407,528$1,093,109$3,136,835
82$3,388,257$1,441,203$1,094,434$3,407,049
83$3,697,453$1,475,416$1,094,691$3,703,428
84$4,037,041$1,510,158$1,093,810$4,028,604
85$4,410,083$1,545,420$1,091,717$4,385,475
86$4,819,955$1,581,189$1,088,334$4,777,236
87$5,270,376$1,617,453$1,083,578$5,207,405
88$5,765,441$1,654,195$1,077,365$5,679,857
89$6,309,664$1,691,398$1,069,605$6,198,865
90$6,908,017$1,729,043$1,060,203$6,769,134
91$7,565,976$1,767,108$1,049,061$7,395,846
92$8,289,577$1,805,568$1,036,077$8,084,716
93$9,085,470$1,844,397$1,021,141$8,842,036
94$9,960,980$1,883,565$1,004,141$9,674,740
95$10,924,179$1,923,038$984,959$10,590,470
96$11,983,961$1,962,782$963,471$11,597,644
97$13,150,124$2,002,758$939,546$12,705,538
98$14,433,465$2,042,921$913,049$13,924,375
99$15,845,881$2,083,227$883,839$15,265,417
100$17,400,479$2,123,624$851,766$16,741,075