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%11.8%
1 years$81,010$80,288$79,584$78,897$78,226$77,636
2 years$40,104$39,357$38,633$37,931$37,251$36,655
3 years$26,470$25,720$24,998$24,303$23,633$23,052
4 years$19,655$18,907$18,192$17,509$16,855$16,292
5 years$15,567$14,823$14,118$13,449$12,813$12,269
6 years$12,842$12,104$11,409$10,755$10,139$9,615
7 years$10,897$10,165$9,481$8,842$8,245$7,743
8 years$9,438$8,714$8,041$7,418$6,840$6,358
9 years$8,305$7,587$6,926$6,318$5,761$5,299
10 years$7,398$6,687$6,038$5,446$4,908$4,467
11 years$6,657$5,953$5,316$4,740$4,221$3,800
12 years$6,040$5,343$4,718$4,157$3,658$3,256
13 years$5,518$4,829$4,215$3,670$3,190$2,807
14 years$5,071$4,389$3,787$3,258$2,796$2,432
15 years$4,684$4,010$3,419$2,906$2,462$2,116
16 years$4,346$3,679$3,100$2,602$2,176$1,848
17 years$4,048$3,388$2,821$2,338$1,929$1,618
18 years$3,783$3,131$2,575$2,107$1,716$1,421
19 years$3,547$2,902$2,357$1,904$1,529$1,251
20 years$3,334$2,696$2,163$1,724$1,366$1,103
21 years$3,142$2,511$1,990$1,565$1,222$974
22 years$2,968$2,344$1,834$1,423$1,096$862
23 years$2,808$2,193$1,693$1,296$983$763
24 years$2,663$2,054$1,566$1,182$884$677
25 years$2,529$1,928$1,451$1,079$795$600
26 years$2,406$1,812$1,345$987$716$533
27 years$2,292$1,705$1,249$903$646$474
28 years$2,186$1,607$1,161$828$583$422
29 years$2,088$1,516$1,081$759$526$375
30 years$1,997$1,432$1,007$696$476$334
31 years$1,912$1,353$938$640$430$298
32 years$1,832$1,280$876$588$389$266
33 years$1,757$1,213$818$541$352$237
34 years$1,687$1,149$764$497$319$211
35 years$1,620$1,090$714$458$289$189
36 years$1,558$1,035$668$422$262$168
37 years$1,499$983$625$389$237$150
38 years$1,444$934$586$358$215$134
39 years$1,391$888$549$330$195$120
40 years$1,341$845$514$305$177$107
41 years$1,294$804$482$281$160$96
42 years$1,249$766$452$259$146$85
43 years$1,206$730$424$239$132$76
44 years$1,166$696$398$221$120$68
45 years$1,127$663$374$204$109$61
46 years$1,090$633$351$189$99$54
47 years$1,055$604$330$174$90$49
48 years$1,021$577$310$161$81$44
49 years$989$551$292$149$74$39
50 years$958$526$274$138$67$35

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $981,000, adding $6,775 every year, while hoping to spend $31,266 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: 59/33/8 Blend
67$981,000$981,000$981,000$981,000
68$1,088,050$1,036,057$1,020,852$1,149,932
69$1,165,765$1,053,557$1,021,784$1,209,777
70$1,250,358$1,070,867$1,021,699$1,270,846
71$1,342,499$1,087,944$1,020,530$1,336,654
72$1,442,923$1,104,743$1,018,207$1,407,659
73$1,552,441$1,121,214$1,014,657$1,484,365
74$1,671,943$1,137,307$1,009,801$1,567,326
75$1,802,410$1,152,964$1,003,558$1,657,154
76$1,944,923$1,168,127$995,845$1,754,524
77$2,100,671$1,182,730$986,571$1,860,179
78$2,270,961$1,196,706$975,643$1,974,939
79$2,457,236$1,209,982$962,964$2,099,708
80$2,661,082$1,222,479$948,431$2,235,482
81$2,884,247$1,234,114$931,937$2,383,360
82$3,128,654$1,244,799$913,371$2,544,552
83$3,396,421$1,254,440$892,614$2,720,395
84$3,689,884$1,262,935$869,544$2,912,359
85$4,011,611$1,270,178$844,033$3,122,070
86$4,364,434$1,276,054$815,946$3,351,316
87$4,751,468$1,280,443$785,143$3,602,071
88$5,176,149$1,283,216$751,476$3,876,511
89$5,642,258$1,284,236$714,792$4,177,035
90$6,153,962$1,283,357$674,932$4,506,289
91$6,715,850$1,280,425$631,725$4,867,188
92$7,332,977$1,275,276$584,999$5,262,950
93$8,010,913$1,267,737$534,568$5,697,120
94$8,755,792$1,257,622$480,242$6,173,607
95$9,574,373$1,244,736$421,821$6,696,721
96$10,474,103$1,228,871$359,095$7,271,214
97$11,463,184$1,209,809$291,848$7,902,328
98$12,550,654$1,187,315$219,850$8,595,837
99$13,746,470$1,161,143$142,864$9,358,111
100$15,061,602$1,131,031$60,643$10,196,172