Can I retire at age 68 with 975,000?

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 $975,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.6%
1 years$80,515$79,797$79,098$78,415$77,748$76,586
2 years$39,859$39,116$38,397$37,699$37,023$35,855
3 years$26,309$25,563$24,845$24,154$23,489$22,351
4 years$19,535$18,791$18,081$17,402$16,752$15,654
5 years$15,472$14,733$14,032$13,366$12,735$11,678
6 years$12,764$12,030$11,340$10,689$10,077$9,064
7 years$10,830$10,103$9,423$8,788$8,195$7,226
8 years$9,381$8,660$7,992$7,372$6,799$5,873
9 years$8,254$7,540$6,883$6,279$5,725$4,843
10 years$7,353$6,646$6,001$5,413$4,878$4,038
11 years$6,617$5,917$5,283$4,711$4,196$3,397
12 years$6,003$5,311$4,689$4,132$3,636$2,878
13 years$5,485$4,799$4,189$3,648$3,170$2,452
14 years$5,040$4,362$3,764$3,238$2,779$2,100
15 years$4,656$3,985$3,398$2,888$2,447$1,805
16 years$4,320$3,656$3,081$2,586$2,163$1,556
17 years$4,023$3,367$2,804$2,323$1,918$1,346
18 years$3,760$3,112$2,559$2,094$1,705$1,167
19 years$3,525$2,884$2,343$1,892$1,520$1,014
20 years$3,314$2,680$2,150$1,714$1,357$882
21 years$3,123$2,496$1,978$1,555$1,215$769
22 years$2,949$2,330$1,823$1,414$1,089$671
23 years$2,791$2,179$1,683$1,288$977$586
24 years$2,647$2,042$1,557$1,174$879$512
25 years$2,514$1,916$1,442$1,073$791$448
26 years$2,391$1,801$1,337$981$712$393
27 years$2,278$1,695$1,242$898$642$344
28 years$2,173$1,597$1,154$822$579$302
29 years$2,076$1,507$1,074$754$523$265
30 years$1,985$1,423$1,000$692$473$232
31 years$1,900$1,345$933$636$427$204
32 years$1,820$1,273$870$584$387$179
33 years$1,746$1,205$813$537$350$157
34 years$1,676$1,142$759$494$317$138
35 years$1,610$1,083$710$455$287$121
36 years$1,549$1,028$664$419$260$107
37 years$1,490$977$622$386$236$94
38 years$1,435$928$582$356$214$83
39 years$1,383$883$545$328$194$73
40 years$1,333$840$511$303$176$64
41 years$1,286$799$479$279$159$56
42 years$1,241$761$450$258$145$49
43 years$1,199$725$422$238$131$43
44 years$1,158$691$396$220$119$38
45 years$1,120$659$372$203$108$34
46 years$1,083$629$349$187$98$30
47 years$1,048$600$328$173$89$26
48 years$1,015$573$308$160$81$23
49 years$983$547$290$148$74$20
50 years$952$523$272$137$67$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $975,000, adding $4,315 every year, while hoping to spend $43,828 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: 82/10/8 Blend
67$975,000$975,000$975,000$975,000
68$1,078,901$1,027,226$1,012,113$1,165,970
69$1,142,316$1,030,927$999,387$1,227,270
70$1,210,731$1,033,341$984,764$1,288,270
71$1,284,609$1,034,358$968,137$1,353,900
72$1,364,459$1,033,862$949,390$1,424,596
73$1,450,842$1,031,729$928,403$1,500,843
74$1,544,373$1,027,829$905,050$1,583,173
75$1,645,729$1,022,023$879,199$1,672,173
76$1,755,654$1,014,162$850,712$1,768,487
77$1,874,966$1,004,092$819,446$1,872,827
78$2,004,565$991,645$785,251$1,985,977
79$2,145,442$976,647$747,968$2,108,800
80$2,298,685$958,910$707,432$2,242,247
81$2,465,492$938,238$663,473$2,387,366
82$2,647,183$914,423$615,910$2,545,313
83$2,845,208$887,241$564,555$2,717,359
84$3,061,163$856,461$509,212$2,904,908
85$3,296,807$821,833$449,676$3,109,504
86$3,554,075$783,095$385,733$3,332,850
87$3,835,094$739,971$317,159$3,576,824
88$4,142,211$692,167$243,721$3,843,495
89$4,478,005$639,372$165,174$4,135,141
90$4,845,319$581,258$81,265$4,454,276
91$5,247,282$517,480$0$4,803,669
92$5,687,338$447,670$0$5,187,080
93$6,169,283$371,442$0$5,614,613
94$6,697,294$288,387$0$6,083,059
95$7,275,972$198,072$0$6,596,529
96$7,910,386$100,042$0$7,159,555
97$8,606,116$0$0$7,777,130
98$9,369,309$0$0$8,455,437
99$10,206,738$0$0$9,211,823
100$11,125,860$0$0$10,042,020