Can I retire at age 68 with 981,000?

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 $981,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$81,010$80,288$79,584$78,897$78,226$77,185
2 years$40,104$39,357$38,633$37,931$37,251$36,203
3 years$26,470$25,720$24,998$24,303$23,633$22,612
4 years$19,655$18,907$18,192$17,509$16,855$15,869
5 years$15,567$14,823$14,118$13,449$12,813$11,864
6 years$12,842$12,104$11,409$10,755$10,139$9,227
7 years$10,897$10,165$9,481$8,842$8,245$7,373
8 years$9,438$8,714$8,041$7,418$6,840$6,006
9 years$8,305$7,587$6,926$6,318$5,761$4,965
10 years$7,398$6,687$6,038$5,446$4,908$4,150
11 years$6,657$5,953$5,316$4,740$4,221$3,500
12 years$6,040$5,343$4,718$4,157$3,658$2,973
13 years$5,518$4,829$4,215$3,670$3,190$2,540
14 years$5,071$4,389$3,787$3,258$2,796$2,180
15 years$4,684$4,010$3,419$2,906$2,462$1,879
16 years$4,346$3,679$3,100$2,602$2,176$1,625
17 years$4,048$3,388$2,821$2,338$1,929$1,409
18 years$3,783$3,131$2,575$2,107$1,716$1,225
19 years$3,547$2,902$2,357$1,904$1,529$1,067
20 years$3,334$2,696$2,163$1,724$1,366$931
21 years$3,142$2,511$1,990$1,565$1,222$814
22 years$2,968$2,344$1,834$1,423$1,096$713
23 years$2,808$2,193$1,693$1,296$983$624
24 years$2,663$2,054$1,566$1,182$884$548
25 years$2,529$1,928$1,451$1,079$795$481
26 years$2,406$1,812$1,345$987$716$422
27 years$2,292$1,705$1,249$903$646$371
28 years$2,186$1,607$1,161$828$583$327
29 years$2,088$1,516$1,081$759$526$288
30 years$1,997$1,432$1,007$696$476$253
31 years$1,912$1,353$938$640$430$223
32 years$1,832$1,280$876$588$389$196
33 years$1,757$1,213$818$541$352$173
34 years$1,687$1,149$764$497$319$153
35 years$1,620$1,090$714$458$289$135
36 years$1,558$1,035$668$422$262$119
37 years$1,499$983$625$389$237$105
38 years$1,444$934$586$358$215$92
39 years$1,391$888$549$330$195$82
40 years$1,341$845$514$305$177$72
41 years$1,294$804$482$281$160$64
42 years$1,249$766$452$259$146$56
43 years$1,206$730$424$239$132$50
44 years$1,166$696$398$221$120$44
45 years$1,127$663$374$204$109$39
46 years$1,090$633$351$189$99$34
47 years$1,055$604$330$174$90$30
48 years$1,021$577$310$161$81$27
49 years$989$551$292$149$74$23
50 years$958$526$274$138$67$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $981,000, adding $6,454 every year, while hoping to spend $31,593 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: 38/39/23 Blend
67$981,000$981,000$981,000$981,000
68$1,087,719$1,035,726$1,020,521$1,121,366
69$1,165,052$1,052,862$1,021,094$1,163,537
70$1,249,214$1,069,779$1,020,627$1,205,660
71$1,340,868$1,086,432$1,019,052$1,250,551
72$1,440,744$1,102,775$1,016,298$1,298,480
73$1,549,645$1,118,756$1,012,289$1,349,745
74$1,668,456$1,134,322$1,006,948$1,404,676
75$1,798,148$1,149,414$1,000,191$1,463,635
76$1,939,794$1,163,971$991,932$1,527,026
77$2,094,573$1,177,924$982,081$1,595,294
78$2,263,781$1,191,205$970,543$1,668,932
79$2,448,850$1,203,736$957,218$1,748,482
80$2,651,351$1,215,438$942,004$1,834,547
81$2,873,018$1,226,224$924,790$1,927,791
82$3,115,758$1,236,001$905,463$2,028,948
83$3,381,674$1,244,674$883,905$2,138,830
84$3,673,078$1,252,136$859,989$2,258,333
85$3,992,520$1,258,279$833,586$2,388,450
86$4,342,805$1,262,983$804,560$2,530,274
87$4,727,026$1,266,123$772,767$2,685,016
88$5,148,586$1,267,567$738,058$2,854,010
89$5,611,237$1,267,173$700,278$3,038,733
90$6,119,110$1,264,791$659,264$3,240,815
91$6,676,754$1,260,261$614,845$3,462,055
92$7,289,183$1,253,414$566,842$3,704,442
93$7,961,919$1,244,071$515,071$3,970,170
94$8,701,046$1,232,041$459,336$4,261,663
95$9,513,264$1,217,122$399,436$4,581,596
96$10,405,957$1,199,101$335,156$4,932,923
97$11,387,258$1,177,750$266,278$5,318,906
98$12,466,128$1,152,830$192,568$5,743,143
99$13,652,440$1,124,086$113,786$6,209,607
100$14,957,072$1,091,249$29,681$6,722,684