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%16.9%
1 years$81,175$80,452$79,747$79,058$78,386$76,182
2 years$40,186$39,437$38,712$38,009$37,327$35,123
3 years$26,524$25,773$25,049$24,353$23,682$21,547
4 years$19,695$18,946$18,229$17,545$16,890$14,841
5 years$15,599$14,854$14,147$13,476$12,839$10,882
6 years$12,868$12,129$11,433$10,777$10,159$8,295
7 years$10,919$10,186$9,501$8,860$8,262$6,491
8 years$9,458$8,731$8,057$7,433$6,854$5,176
9 years$8,322$7,602$6,940$6,331$5,772$4,184
10 years$7,413$6,701$6,050$5,457$4,918$3,419
11 years$6,671$5,965$5,327$4,750$4,230$2,816
12 years$6,052$5,354$4,727$4,166$3,666$2,335
13 years$5,530$4,839$4,223$3,678$3,196$1,947
14 years$5,082$4,398$3,795$3,265$2,802$1,630
15 years$4,694$4,018$3,426$2,912$2,467$1,369
16 years$4,355$3,686$3,106$2,607$2,180$1,153
17 years$4,056$3,395$2,827$2,342$1,933$974
18 years$3,791$3,137$2,580$2,111$1,719$824
19 years$3,554$2,907$2,362$1,907$1,532$699
20 years$3,341$2,702$2,168$1,728$1,369$593
21 years$3,148$2,517$1,994$1,568$1,225$504
22 years$2,974$2,349$1,838$1,426$1,098$429
23 years$2,814$2,197$1,697$1,298$985$365
24 years$2,668$2,059$1,569$1,184$886$311
25 years$2,534$1,932$1,454$1,081$797$265
26 years$2,411$1,816$1,348$989$718$226
27 years$2,297$1,709$1,252$905$647$193
28 years$2,191$1,610$1,164$829$584$165
29 years$2,093$1,519$1,083$760$527$141
30 years$2,001$1,434$1,009$698$477$120
31 years$1,915$1,356$940$641$431$103
32 years$1,835$1,283$877$589$390$88
33 years$1,760$1,215$819$542$353$75
34 years$1,690$1,152$765$498$319$64
35 years$1,624$1,092$716$459$289$55
36 years$1,561$1,037$669$423$262$47
37 years$1,502$985$627$389$238$40
38 years$1,447$936$587$359$215$34
39 years$1,394$890$550$331$195$29
40 years$1,344$847$515$305$177$25
41 years$1,297$806$483$282$161$21
42 years$1,252$768$453$260$146$18
43 years$1,209$731$425$240$132$16
44 years$1,168$697$399$221$120$13
45 years$1,129$665$375$205$109$11
46 years$1,092$634$352$189$99$10
47 years$1,057$605$331$175$90$8
48 years$1,023$578$311$161$82$7
49 years$991$552$292$149$74$6
50 years$960$527$275$138$67$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $983,000, adding $3,114 every year, while hoping to spend $28,346 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: 68/24/8 Blend
67$983,000$983,000$983,000$983,000
68$1,086,478$1,034,379$1,019,143$1,158,572
69$1,167,139$1,054,904$1,023,124$1,227,309
70$1,255,077$1,075,484$1,026,289$1,298,729
71$1,351,005$1,096,093$1,028,579$1,376,074
72$1,455,707$1,116,701$1,029,936$1,459,918
73$1,570,046$1,137,276$1,030,295$1,550,896
74$1,694,971$1,157,783$1,029,591$1,649,705
75$1,831,530$1,178,186$1,027,754$1,757,114
76$1,980,873$1,198,445$1,024,711$1,873,971
77$2,144,269$1,218,515$1,020,386$2,001,208
78$2,323,114$1,238,352$1,014,698$2,139,853
79$2,518,945$1,257,905$1,007,564$2,291,039
80$2,733,455$1,277,120$998,896$2,456,014
81$2,968,510$1,295,940$988,600$2,636,153
82$3,226,161$1,314,305$976,582$2,832,971
83$3,508,671$1,332,147$962,739$3,048,140
84$3,818,530$1,349,397$946,965$3,283,497
85$4,158,482$1,365,980$929,151$3,541,073
86$4,531,549$1,381,814$909,179$3,823,100
87$4,941,059$1,396,815$886,928$4,132,042
88$5,390,679$1,410,891$862,272$4,470,613
89$5,884,447$1,423,943$835,077$4,841,805
90$6,426,813$1,435,869$805,205$5,248,913
91$7,022,678$1,446,557$772,510$5,695,571
92$7,677,442$1,455,889$736,839$6,185,782
93$8,397,053$1,463,740$698,036$6,723,961
94$9,188,065$1,469,975$655,932$7,314,970
95$10,057,697$1,474,453$610,355$7,964,169
96$11,013,903$1,477,023$561,123$8,677,466
97$12,065,448$1,477,523$508,047$9,461,374
98$13,221,986$1,475,785$450,929$10,323,066
99$14,494,156$1,471,625$389,563$11,270,454
100$15,893,678$1,464,853$323,731$12,312,254