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%
1 years$81,010$80,288$79,584$78,897$78,226$77,249
2 years$40,104$39,357$38,633$37,931$37,251$36,267
3 years$26,470$25,720$24,998$24,303$23,633$22,674
4 years$19,655$18,907$18,192$17,509$16,855$15,928
5 years$15,567$14,823$14,118$13,449$12,813$11,921
6 years$12,842$12,104$11,409$10,755$10,139$9,282
7 years$10,897$10,165$9,481$8,842$8,245$7,424
8 years$9,438$8,714$8,041$7,418$6,840$6,055
9 years$8,305$7,587$6,926$6,318$5,761$5,011
10 years$7,398$6,687$6,038$5,446$4,908$4,194
11 years$6,657$5,953$5,316$4,740$4,221$3,541
12 years$6,040$5,343$4,718$4,157$3,658$3,012
13 years$5,518$4,829$4,215$3,670$3,190$2,576
14 years$5,071$4,389$3,787$3,258$2,796$2,215
15 years$4,684$4,010$3,419$2,906$2,462$1,911
16 years$4,346$3,679$3,100$2,602$2,176$1,655
17 years$4,048$3,388$2,821$2,338$1,929$1,437
18 years$3,783$3,131$2,575$2,107$1,716$1,251
19 years$3,547$2,902$2,357$1,904$1,529$1,092
20 years$3,334$2,696$2,163$1,724$1,366$954
21 years$3,142$2,511$1,990$1,565$1,222$835
22 years$2,968$2,344$1,834$1,423$1,096$732
23 years$2,808$2,193$1,693$1,296$983$643
24 years$2,663$2,054$1,566$1,182$884$565
25 years$2,529$1,928$1,451$1,079$795$496
26 years$2,406$1,812$1,345$987$716$437
27 years$2,292$1,705$1,249$903$646$385
28 years$2,186$1,607$1,161$828$583$339
29 years$2,088$1,516$1,081$759$526$299
30 years$1,997$1,432$1,007$696$476$263
31 years$1,912$1,353$938$640$430$232
32 years$1,832$1,280$876$588$389$205
33 years$1,757$1,213$818$541$352$181
34 years$1,687$1,149$764$497$319$160
35 years$1,620$1,090$714$458$289$141
36 years$1,558$1,035$668$422$262$125
37 years$1,499$983$625$389$237$110
38 years$1,444$934$586$358$215$98
39 years$1,391$888$549$330$195$86
40 years$1,341$845$514$305$177$76
41 years$1,294$804$482$281$160$67
42 years$1,249$766$452$259$146$60
43 years$1,206$730$424$239$132$53
44 years$1,166$696$398$221$120$47
45 years$1,127$663$374$204$109$41
46 years$1,090$633$351$189$99$36
47 years$1,055$604$330$174$90$32
48 years$1,021$577$310$161$81$29
49 years$989$551$292$149$74$25
50 years$958$526$274$138$67$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $981,000, adding $5,206 every year, while hoping to spend $34,389 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: 69/9/22 Blend
67$981,000$981,000$981,000$981,000
68$1,086,432$1,034,439$1,019,233$1,155,064
69$1,160,658$1,048,537$1,016,788$1,215,727
70$1,241,303$1,062,173$1,013,108$1,277,593
71$1,328,985$1,075,288$1,008,116$1,344,466
72$1,424,384$1,087,820$1,001,731$1,416,837
73$1,528,249$1,099,701$993,867$1,495,252
74$1,641,403$1,110,859$984,434$1,580,308
75$1,764,753$1,121,218$973,339$1,672,667
76$1,899,297$1,130,696$960,485$1,773,057
77$2,046,132$1,139,207$945,768$1,882,282
78$2,206,467$1,146,658$929,080$2,001,228
79$2,381,632$1,152,950$910,310$2,130,872
80$2,573,093$1,157,978$889,340$2,272,291
81$2,782,461$1,161,632$866,046$2,426,672
82$3,011,513$1,163,793$840,299$2,595,325
83$3,262,203$1,164,334$811,965$2,779,696
84$3,536,684$1,163,123$780,902$2,981,375
85$3,837,327$1,160,018$746,963$3,202,119
86$4,166,742$1,154,867$709,995$3,443,863
87$4,527,805$1,147,510$669,835$3,708,743
88$4,923,683$1,137,779$626,315$3,999,112
89$5,357,862$1,125,494$579,260$4,317,565
90$5,834,184$1,110,464$528,486$4,666,963
91$6,356,880$1,092,486$473,800$5,050,462
92$6,930,611$1,071,347$415,001$5,471,538
93$7,560,511$1,046,820$351,881$5,934,027
94$8,252,234$1,018,665$284,220$6,442,156
95$9,012,010$986,628$211,790$7,000,587
96$9,846,702$950,440$134,351$7,614,459
97$10,763,869$909,815$51,656$8,289,436
98$11,771,841$864,453$0$9,031,764
99$12,879,793$814,036$0$9,856,918
100$14,097,834$758,225$0$10,777,399