Can I retire at age 68 with 978,000?

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 $978,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.9%
1 years$80,762$80,043$79,341$78,656$77,987$74,893
2 years$39,981$39,237$38,515$37,815$37,137$34,058
3 years$26,389$25,642$24,922$24,229$23,561$20,594
4 years$19,595$18,849$18,137$17,455$16,804$13,972
5 years$15,519$14,778$14,075$13,407$12,774$10,084
6 years$12,803$12,067$11,375$10,722$10,108$7,561
7 years$10,863$10,134$9,452$8,815$8,220$5,816
8 years$9,410$8,687$8,016$7,395$6,820$4,556
9 years$8,279$7,563$6,904$6,299$5,743$3,616
10 years$7,376$6,667$6,019$5,430$4,893$2,899
11 years$6,637$5,935$5,299$4,725$4,208$2,343
12 years$6,022$5,327$4,703$4,145$3,647$1,904
13 years$5,501$4,814$4,202$3,659$3,180$1,555
14 years$5,056$4,376$3,775$3,248$2,788$1,275
15 years$4,670$3,997$3,409$2,897$2,455$1,048
16 years$4,333$3,668$3,091$2,594$2,169$864
17 years$4,036$3,378$2,812$2,331$1,923$714
18 years$3,772$3,121$2,567$2,100$1,710$591
19 years$3,536$2,893$2,350$1,898$1,524$490
20 years$3,324$2,688$2,157$1,719$1,362$406
21 years$3,132$2,504$1,984$1,560$1,219$337
22 years$2,958$2,337$1,828$1,418$1,092$280
23 years$2,800$2,186$1,688$1,292$980$233
24 years$2,655$2,048$1,561$1,178$881$194
25 years$2,521$1,922$1,446$1,076$793$161
26 years$2,399$1,806$1,341$984$714$134
27 years$2,285$1,700$1,245$900$644$112
28 years$2,180$1,602$1,158$825$581$93
29 years$2,082$1,511$1,077$757$525$78
30 years$1,991$1,427$1,004$694$474$65
31 years$1,906$1,349$936$638$429$54
32 years$1,826$1,277$873$586$388$45
33 years$1,751$1,209$815$539$351$37
34 years$1,681$1,146$762$496$318$31
35 years$1,615$1,087$712$456$288$26
36 years$1,553$1,032$666$420$261$22
37 years$1,495$980$623$387$236$18
38 years$1,439$931$584$357$214$15
39 years$1,387$885$547$329$194$13
40 years$1,337$842$513$304$176$10
41 years$1,290$802$481$280$160$9
42 years$1,245$764$451$259$145$7
43 years$1,203$728$423$239$132$6
44 years$1,162$694$397$220$119$5
45 years$1,123$661$373$204$108$4
46 years$1,087$631$350$188$98$4
47 years$1,051$602$329$174$89$3
48 years$1,018$575$309$160$81$2
49 years$986$549$291$148$74$2
50 years$955$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 $978,000, adding $5,287 every year, while hoping to spend $58,433 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: 30/50/20 Blend
67$978,000$978,000$978,000$978,000
68$1,083,210$1,031,376$1,016,217$1,108,780
69$1,131,525$1,019,741$988,088$1,117,016
70$1,182,809$1,005,577$957,058$1,120,249
71$1,237,305$988,700$922,968$1,122,492
72$1,295,276$968,912$885,653$1,123,694
73$1,357,010$946,004$844,939$1,123,805
74$1,422,824$919,757$800,643$1,122,778
75$1,493,064$889,938$752,577$1,120,565
76$1,568,110$856,298$700,541$1,117,121
77$1,648,377$818,576$644,329$1,112,403
78$1,734,321$776,496$583,724$1,106,374
79$1,826,443$729,765$518,500$1,098,997
80$1,925,290$678,074$448,420$1,090,243
81$2,031,465$621,095$373,237$1,080,090
82$2,145,629$558,483$292,695$1,068,520
83$2,268,506$489,872$206,524$1,055,526
84$2,400,894$414,876$114,442$1,041,111
85$2,543,667$333,086$16,157$1,025,291
86$2,697,786$244,072$0$1,008,092
87$2,864,306$147,379$0$1,008,496
88$3,044,390$42,524$0$1,012,539
89$3,239,311$0$0$1,016,926
90$3,450,473$0$0$1,060,902
91$3,679,417$0$0$1,134,076
92$3,927,839$0$0$1,213,611
93$4,197,603$0$0$1,300,120
94$4,490,761$0$0$1,394,278
95$4,809,568$0$0$1,496,829
96$5,156,507$0$0$1,608,591
97$5,534,309$0$0$1,730,463
98$5,945,980$0$0$1,863,438
99$6,394,828$0$0$2,008,604
100$6,884,492$0$0$2,167,163