Can I retire at age 68 with 974,000?

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 $974,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17%
1 years$80,432$79,716$79,017$78,334$77,668$75,454
2 years$39,818$39,076$38,358$37,661$36,985$34,771
3 years$26,282$25,537$24,820$24,130$23,465$21,321
4 years$19,515$18,772$18,063$17,384$16,735$14,678
5 years$15,456$14,718$14,017$13,353$12,722$10,757
6 years$12,751$12,018$11,328$10,678$10,066$8,195
7 years$10,819$10,093$9,414$8,779$8,187$6,410
8 years$9,371$8,651$7,984$7,365$6,792$5,107
9 years$8,246$7,533$6,876$6,273$5,720$4,127
10 years$7,346$6,640$5,995$5,407$4,873$3,370
11 years$6,610$5,911$5,278$4,706$4,191$2,774
12 years$5,997$5,305$4,684$4,128$3,632$2,299
13 years$5,479$4,794$4,185$3,644$3,167$1,915
14 years$5,035$4,358$3,760$3,235$2,776$1,602
15 years$4,651$3,981$3,395$2,885$2,445$1,345
16 years$4,315$3,653$3,078$2,583$2,160$1,132
17 years$4,019$3,364$2,801$2,321$1,916$955
18 years$3,756$3,108$2,557$2,092$1,703$808
19 years$3,521$2,881$2,341$1,890$1,518$684
20 years$3,310$2,677$2,148$1,712$1,356$580
21 years$3,120$2,494$1,976$1,554$1,214$493
22 years$2,946$2,328$1,821$1,413$1,088$419
23 years$2,788$2,177$1,681$1,286$976$356
24 years$2,644$2,040$1,555$1,173$878$303
25 years$2,511$1,914$1,440$1,072$790$258
26 years$2,389$1,799$1,336$980$711$220
27 years$2,276$1,693$1,240$897$641$188
28 years$2,171$1,595$1,153$822$579$160
29 years$2,073$1,505$1,073$753$523$137
30 years$1,983$1,421$999$691$472$117
31 years$1,898$1,344$932$635$427$99
32 years$1,819$1,271$869$584$386$85
33 years$1,744$1,204$812$537$349$73
34 years$1,674$1,141$758$494$316$62
35 years$1,609$1,082$709$455$287$53
36 years$1,547$1,027$663$419$260$45
37 years$1,489$976$621$386$235$39
38 years$1,433$927$581$356$213$33
39 years$1,381$882$545$328$193$28
40 years$1,332$839$511$302$175$24
41 years$1,285$799$479$279$159$21
42 years$1,240$761$449$257$144$18
43 years$1,198$725$421$238$131$15
44 years$1,157$691$396$219$119$13
45 years$1,119$659$371$203$108$11
46 years$1,082$628$349$187$98$9
47 years$1,047$600$328$173$89$8
48 years$1,014$572$308$160$81$7
49 years$982$547$289$148$73$6
50 years$951$522$272$137$67$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $974,000, adding $3,837 every year, while hoping to spend $53,645 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: 57/29/14 Blend
67$974,000$974,000$974,000$974,000
68$1,077,306$1,025,684$1,010,587$1,134,639
69$1,130,113$1,018,865$987,364$1,167,077
70$1,186,509$1,009,913$961,565$1,196,184
71$1,246,802$998,668$933,047$1,226,653
72$1,311,333$984,960$901,660$1,258,622
73$1,380,472$968,606$867,249$1,292,250
74$1,454,628$949,416$829,650$1,327,709
75$1,534,249$927,185$788,691$1,365,194
76$1,619,825$901,700$744,195$1,404,924
77$1,711,896$872,732$695,975$1,447,140
78$1,811,053$840,041$643,834$1,492,113
79$1,917,949$803,370$587,570$1,540,145
80$2,033,295$762,451$526,970$1,591,572
81$2,157,878$716,999$461,810$1,646,767
82$2,292,560$666,710$391,860$1,706,148
83$2,438,289$611,266$316,874$1,770,177
84$2,596,107$550,330$236,602$1,839,370
85$2,767,159$483,546$150,777$1,914,301
86$2,952,705$410,535$59,124$1,995,606
87$3,154,130$330,901$0$2,083,992
88$3,372,959$244,223$0$2,186,025
89$3,610,868$150,057$0$2,306,599
90$3,869,700$47,933$0$2,437,889
91$4,151,484$0$0$2,581,017
92$4,458,453$0$0$2,757,217
93$4,793,063$0$0$2,966,035
94$5,158,020$0$0$3,193,872
95$5,556,297$0$0$3,442,594
96$5,991,172$0$0$3,714,259
97$6,466,251$0$0$4,011,130
98$6,985,503$0$0$4,335,700
99$7,553,299$0$0$4,690,711
100$8,174,451$0$0$5,079,187