Can I retire at age 68 with 983,000?

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 $983,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.6%
1 years$81,175$80,452$79,747$79,058$78,386$76,274
2 years$40,186$39,437$38,712$38,009$37,327$35,214
3 years$26,524$25,773$25,049$24,353$23,682$21,635
4 years$19,695$18,946$18,229$17,545$16,890$14,924
5 years$15,599$14,854$14,147$13,476$12,839$10,960
6 years$12,868$12,129$11,433$10,777$10,159$8,369
7 years$10,919$10,186$9,501$8,860$8,262$6,560
8 years$9,458$8,731$8,057$7,433$6,854$5,239
9 years$8,322$7,602$6,940$6,331$5,772$4,244
10 years$7,413$6,701$6,050$5,457$4,918$3,474
11 years$6,671$5,965$5,327$4,750$4,230$2,867
12 years$6,052$5,354$4,727$4,166$3,666$2,382
13 years$5,530$4,839$4,223$3,678$3,196$1,990
14 years$5,082$4,398$3,795$3,265$2,802$1,669
15 years$4,694$4,018$3,426$2,912$2,467$1,405
16 years$4,355$3,686$3,106$2,607$2,180$1,186
17 years$4,056$3,395$2,827$2,342$1,933$1,004
18 years$3,791$3,137$2,580$2,111$1,719$851
19 years$3,554$2,907$2,362$1,907$1,532$723
20 years$3,341$2,702$2,168$1,728$1,369$615
21 years$3,148$2,517$1,994$1,568$1,225$524
22 years$2,974$2,349$1,838$1,426$1,098$447
23 years$2,814$2,197$1,697$1,298$985$381
24 years$2,668$2,059$1,569$1,184$886$326
25 years$2,534$1,932$1,454$1,081$797$278
26 years$2,411$1,816$1,348$989$718$238
27 years$2,297$1,709$1,252$905$647$203
28 years$2,191$1,610$1,164$829$584$174
29 years$2,093$1,519$1,083$760$527$149
30 years$2,001$1,434$1,009$698$477$128
31 years$1,915$1,356$940$641$431$109
32 years$1,835$1,283$877$589$390$94
33 years$1,760$1,215$819$542$353$80
34 years$1,690$1,152$765$498$319$69
35 years$1,624$1,092$716$459$289$59
36 years$1,561$1,037$669$423$262$50
37 years$1,502$985$627$389$238$43
38 years$1,447$936$587$359$215$37
39 years$1,394$890$550$331$195$32
40 years$1,344$847$515$305$177$27
41 years$1,297$806$483$282$161$23
42 years$1,252$768$453$260$146$20
43 years$1,209$731$425$240$132$17
44 years$1,168$697$399$221$120$15
45 years$1,129$665$375$205$109$13
46 years$1,092$634$352$189$99$11
47 years$1,057$605$331$175$90$9
48 years$1,023$578$311$161$82$8
49 years$991$552$292$149$74$7
50 years$960$527$275$138$67$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $983,000, adding $4,881 every year, while hoping to spend $37,419 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: 66/16/18 Blend
67$983,000$983,000$983,000$983,000
68$1,088,301$1,036,202$1,020,965$1,154,980
69$1,159,494$1,047,162$1,015,354$1,211,198
70$1,236,695$1,057,405$1,008,301$1,267,856
71$1,320,476$1,066,857$999,718$1,328,887
72$1,411,469$1,075,437$989,512$1,394,718
73$1,510,367$1,083,062$977,589$1,465,821
74$1,617,932$1,089,640$963,846$1,542,719
75$1,735,005$1,095,076$948,179$1,625,985
76$1,862,509$1,099,268$930,476$1,716,254
77$2,001,460$1,102,107$910,622$1,814,225
78$2,152,976$1,103,477$888,495$1,920,670
79$2,318,289$1,103,257$863,969$2,036,441
80$2,498,754$1,101,316$836,912$2,162,476
81$2,695,862$1,097,516$807,184$2,299,812
82$2,911,256$1,091,710$774,640$2,449,591
83$3,146,743$1,083,743$739,130$2,613,075
84$3,404,314$1,073,450$700,493$2,791,653
85$3,686,160$1,060,655$658,566$2,986,861
86$3,994,694$1,045,173$613,174$3,200,388
87$4,332,574$1,026,807$564,136$3,434,103
88$4,702,726$1,005,350$511,264$3,690,063
89$5,108,373$980,581$454,361$3,970,538
90$5,553,064$952,266$393,218$4,278,033
91$6,040,708$920,159$327,622$4,615,310
92$6,575,610$883,997$257,348$4,985,414
93$7,162,513$843,503$182,160$5,391,704
94$7,806,640$798,386$101,813$5,837,886
95$8,513,745$748,334$16,051$6,328,043
96$9,290,166$693,021$0$6,866,683
97$10,142,884$632,100$0$7,473,267
98$11,079,590$565,206$0$8,143,011
99$12,108,758$491,950$0$8,878,927
100$13,239,721$411,926$0$9,687,735