Can I retire at age 68 with 977,000?

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 $977,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.5%
1 years$80,680$79,961$79,260$78,576$77,907$74,935
2 years$39,940$39,197$38,476$37,777$37,099$34,139
3 years$26,362$25,615$24,896$24,204$23,537$20,683
4 years$19,575$18,830$18,118$17,438$16,787$14,060
5 years$15,503$14,763$14,060$13,394$12,761$10,169
6 years$12,790$12,055$11,363$10,711$10,097$7,642
7 years$10,852$10,124$9,443$8,806$8,212$5,892
8 years$9,400$8,678$8,008$7,387$6,813$4,626
9 years$8,271$7,556$6,897$6,292$5,737$3,681
10 years$7,368$6,660$6,013$5,424$4,888$2,959
11 years$6,630$5,929$5,294$4,721$4,204$2,397
12 years$6,015$5,322$4,698$4,141$3,643$1,953
13 years$5,496$4,809$4,198$3,655$3,177$1,600
14 years$5,051$4,371$3,772$3,245$2,785$1,315
15 years$4,665$3,993$3,405$2,894$2,452$1,085
16 years$4,328$3,664$3,087$2,591$2,167$897
17 years$4,032$3,374$2,809$2,328$1,922$743
18 years$3,768$3,118$2,565$2,098$1,709$617
19 years$3,532$2,890$2,348$1,896$1,523$513
20 years$3,321$2,685$2,155$1,717$1,360$426
21 years$3,129$2,501$1,982$1,558$1,217$355
22 years$2,955$2,335$1,827$1,417$1,091$296
23 years$2,797$2,184$1,687$1,290$979$247
24 years$2,652$2,046$1,560$1,177$880$206
25 years$2,519$1,920$1,445$1,075$792$172
26 years$2,396$1,805$1,340$983$714$144
27 years$2,283$1,698$1,244$900$643$120
28 years$2,178$1,600$1,157$824$580$100
29 years$2,080$1,510$1,076$756$524$84
30 years$1,989$1,426$1,003$694$474$70
31 years$1,904$1,348$935$637$428$59
32 years$1,824$1,275$872$585$387$49
33 years$1,750$1,208$814$538$351$41
34 years$1,680$1,145$761$495$317$34
35 years$1,614$1,086$711$456$287$29
36 years$1,552$1,030$665$420$260$24
37 years$1,493$979$623$387$236$20
38 years$1,438$930$583$357$214$17
39 years$1,385$884$546$329$194$14
40 years$1,336$841$512$303$176$12
41 years$1,289$801$480$280$160$10
42 years$1,244$763$450$258$145$8
43 years$1,201$727$423$238$132$7
44 years$1,161$693$397$220$119$6
45 years$1,122$661$373$203$108$5
46 years$1,085$630$350$188$98$4
47 years$1,050$601$329$173$89$3
48 years$1,017$574$309$160$81$3
49 years$985$548$290$148$74$2
50 years$954$524$273$137$67$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $977,000, adding $4,963 every year, while hoping to spend $34,469 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: 57/14/29 Blend
67$977,000$977,000$977,000$977,000
68$1,081,773$1,029,992$1,014,849$1,134,553
69$1,155,439$1,043,787$1,012,172$1,185,171
70$1,235,464$1,057,103$1,008,249$1,236,305
71$1,322,460$1,069,879$1,003,004$1,291,343
72$1,417,100$1,082,052$996,354$1,350,677
73$1,520,126$1,093,554$988,213$1,414,735
74$1,632,352$1,104,312$978,491$1,483,993
75$1,754,676$1,114,248$967,095$1,558,974
76$1,888,086$1,123,278$953,926$1,640,257
77$2,033,668$1,131,317$938,880$1,728,482
78$2,192,619$1,138,268$921,849$1,824,352
79$2,366,256$1,144,033$902,721$1,928,648
80$2,556,029$1,148,505$881,376$2,042,229
81$2,763,533$1,151,571$857,692$2,166,044
82$2,990,527$1,153,111$831,538$2,301,141
83$3,238,945$1,152,998$802,779$2,448,675
84$3,510,918$1,151,096$771,273$2,609,923
85$3,808,793$1,147,261$736,872$2,786,294
86$4,135,154$1,141,341$699,421$2,979,342
87$4,492,846$1,133,173$658,758$3,190,783
88$4,885,004$1,122,586$614,714$3,422,508
89$5,315,080$1,109,398$567,112$3,676,607
90$5,786,875$1,093,416$515,768$3,955,385
91$6,304,577$1,074,434$460,487$4,261,384
92$6,872,799$1,052,237$401,069$4,597,410
93$7,496,623$1,026,595$337,303$4,966,557
94$8,181,645$997,264$268,968$5,372,240
95$8,934,030$963,987$195,836$5,818,225
96$9,760,571$926,493$117,667$6,308,667
97$10,668,751$884,492$34,210$6,848,149
98$11,666,811$837,680$0$7,441,725
99$12,763,834$785,735$0$8,111,945
100$13,969,824$728,315$0$8,860,384