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%11.5%
1 years$80,432$79,716$79,017$78,334$77,668$77,179
2 years$39,818$39,076$38,358$37,661$36,985$36,491
3 years$26,282$25,537$24,820$24,130$23,465$22,982
4 years$19,515$18,772$18,063$17,384$16,735$16,267
5 years$15,456$14,718$14,017$13,353$12,722$12,270
6 years$12,751$12,018$11,328$10,678$10,066$9,631
7 years$10,819$10,093$9,414$8,779$8,187$7,768
8 years$9,371$8,651$7,984$7,365$6,792$6,390
9 years$8,246$7,533$6,876$6,273$5,720$5,335
10 years$7,346$6,640$5,995$5,407$4,873$4,505
11 years$6,610$5,911$5,278$4,706$4,191$3,840
12 years$5,997$5,305$4,684$4,128$3,632$3,297
13 years$5,479$4,794$4,185$3,644$3,167$2,848
14 years$5,035$4,358$3,760$3,235$2,776$2,472
15 years$4,651$3,981$3,395$2,885$2,445$2,155
16 years$4,315$3,653$3,078$2,583$2,160$1,886
17 years$4,019$3,364$2,801$2,321$1,916$1,655
18 years$3,756$3,108$2,557$2,092$1,703$1,456
19 years$3,521$2,881$2,341$1,890$1,518$1,284
20 years$3,310$2,677$2,148$1,712$1,356$1,135
21 years$3,120$2,494$1,976$1,554$1,214$1,005
22 years$2,946$2,328$1,821$1,413$1,088$891
23 years$2,788$2,177$1,681$1,286$976$791
24 years$2,644$2,040$1,555$1,173$878$703
25 years$2,511$1,914$1,440$1,072$790$625
26 years$2,389$1,799$1,336$980$711$556
27 years$2,276$1,693$1,240$897$641$496
28 years$2,171$1,595$1,153$822$579$442
29 years$2,073$1,505$1,073$753$523$395
30 years$1,983$1,421$999$691$472$352
31 years$1,898$1,344$932$635$427$315
32 years$1,819$1,271$869$584$386$281
33 years$1,744$1,204$812$537$349$251
34 years$1,674$1,141$758$494$316$225
35 years$1,609$1,082$709$455$287$201
36 years$1,547$1,027$663$419$260$180
37 years$1,489$976$621$386$235$161
38 years$1,433$927$581$356$213$144
39 years$1,381$882$545$328$193$129
40 years$1,332$839$511$302$175$116
41 years$1,285$799$479$279$159$104
42 years$1,240$761$449$257$144$93
43 years$1,198$725$421$238$131$83
44 years$1,157$691$396$219$119$74
45 years$1,119$659$371$203$108$67
46 years$1,082$628$349$187$98$60
47 years$1,047$600$328$173$89$54
48 years$1,014$572$308$160$81$48
49 years$982$547$289$148$73$43
50 years$951$522$272$137$67$39

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $974,000, adding $3,935 every year, while hoping to spend $38,860 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: 57/27/16 Blend
67$974,000$974,000$974,000$974,000
68$1,077,407$1,025,785$1,010,688$1,134,111
69$1,145,956$1,034,702$1,003,199$1,181,941
70$1,220,194$1,042,753$994,157$1,229,458
71$1,300,661$1,049,855$983,469$1,280,350
72$1,387,950$1,055,920$971,037$1,334,948
73$1,482,713$1,060,852$956,759$1,393,618
74$1,585,668$1,064,551$940,528$1,456,765
75$1,697,603$1,066,911$922,232$1,524,835
76$1,819,387$1,067,818$901,755$1,598,324
77$1,951,974$1,067,151$878,974$1,677,775
78$2,096,416$1,064,782$853,760$1,763,793
79$2,253,869$1,060,575$825,980$1,857,042
80$2,425,607$1,054,386$795,493$1,958,260
81$2,613,029$1,046,062$762,153$2,068,257
82$2,817,680$1,035,441$725,807$2,187,933
83$3,041,255$1,022,349$686,293$2,318,277
84$3,285,625$1,006,606$643,446$2,460,385
85$3,552,846$988,017$597,089$2,615,466
86$3,845,185$966,378$547,040$2,784,855
87$4,165,135$941,473$493,107$2,970,026
88$4,515,445$913,071$435,092$3,172,606
89$4,899,138$880,929$372,785$3,394,393
90$5,319,546$844,790$305,970$3,637,370
91$5,780,338$804,383$234,417$3,903,727
92$6,285,553$759,419$157,892$4,195,881
93$6,839,643$709,594$76,144$4,516,501
94$7,447,508$654,585$0$4,868,532
95$8,114,547$594,053$0$5,257,118
96$8,846,708$527,639$0$5,697,948
97$9,650,539$454,960$0$6,182,015
98$10,533,258$375,617$0$6,713,739
99$11,502,812$289,184$0$7,297,990
100$12,567,959$195,214$0$7,940,144