Can I retire at age 68 with 983,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%12.3%
1 years$81,175$80,452$79,747$79,058$78,386$77,632
2 years$40,186$39,437$38,712$38,009$37,327$36,567
3 years$26,524$25,773$25,049$24,353$23,682$22,940
4 years$19,695$18,946$18,229$17,545$16,890$16,172
5 years$15,599$14,854$14,147$13,476$12,839$12,147
6 years$12,868$12,129$11,433$10,777$10,159$9,494
7 years$10,919$10,186$9,501$8,860$8,262$7,624
8 years$9,458$8,731$8,057$7,433$6,854$6,243
9 years$8,322$7,602$6,940$6,331$5,772$5,188
10 years$7,413$6,701$6,050$5,457$4,918$4,360
11 years$6,671$5,965$5,327$4,750$4,230$3,698
12 years$6,052$5,354$4,727$4,166$3,666$3,159
13 years$5,530$4,839$4,223$3,678$3,196$2,714
14 years$5,082$4,398$3,795$3,265$2,802$2,344
15 years$4,694$4,018$3,426$2,912$2,467$2,033
16 years$4,355$3,686$3,106$2,607$2,180$1,769
17 years$4,056$3,395$2,827$2,342$1,933$1,544
18 years$3,791$3,137$2,580$2,111$1,719$1,351
19 years$3,554$2,907$2,362$1,907$1,532$1,184
20 years$3,341$2,702$2,168$1,728$1,369$1,041
21 years$3,148$2,517$1,994$1,568$1,225$916
22 years$2,974$2,349$1,838$1,426$1,098$807
23 years$2,814$2,197$1,697$1,298$985$712
24 years$2,668$2,059$1,569$1,184$886$629
25 years$2,534$1,932$1,454$1,081$797$556
26 years$2,411$1,816$1,348$989$718$492
27 years$2,297$1,709$1,252$905$647$436
28 years$2,191$1,610$1,164$829$584$386
29 years$2,093$1,519$1,083$760$527$342
30 years$2,001$1,434$1,009$698$477$303
31 years$1,915$1,356$940$641$431$269
32 years$1,835$1,283$877$589$390$239
33 years$1,760$1,215$819$542$353$212
34 years$1,690$1,152$765$498$319$189
35 years$1,624$1,092$716$459$289$168
36 years$1,561$1,037$669$423$262$149
37 years$1,502$985$627$389$238$132
38 years$1,447$936$587$359$215$118
39 years$1,394$890$550$331$195$105
40 years$1,344$847$515$305$177$93
41 years$1,297$806$483$282$161$83
42 years$1,252$768$453$260$146$74
43 years$1,209$731$425$240$132$66
44 years$1,168$697$399$221$120$58
45 years$1,129$665$375$205$109$52
46 years$1,092$634$352$189$99$46
47 years$1,057$605$331$175$90$41
48 years$1,023$578$311$161$82$37
49 years$991$552$292$149$74$33
50 years$960$527$275$138$67$29

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $983,000, adding $4,469 every year, while hoping to spend $20,504 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: 62/16/22 Blend
67$983,000$983,000$983,000$983,000
68$1,087,876$1,035,777$1,020,540$1,148,804
69$1,177,023$1,064,714$1,032,912$1,219,455
70$1,274,576$1,094,381$1,045,012$1,293,892
71$1,381,371$1,124,794$1,056,807$1,374,700
72$1,498,327$1,155,965$1,068,267$1,462,504
73$1,626,459$1,187,910$1,079,356$1,557,991
74$1,766,882$1,220,642$1,090,039$1,661,918
75$1,920,826$1,254,176$1,100,278$1,775,118
76$2,089,645$1,288,525$1,110,031$1,898,509
77$2,274,829$1,323,703$1,119,258$2,033,103
78$2,478,021$1,359,724$1,127,912$2,180,015
79$2,701,030$1,396,602$1,135,949$2,340,472
80$2,945,850$1,434,349$1,143,317$2,515,827
81$3,214,674$1,472,980$1,149,966$2,707,569
82$3,509,921$1,512,506$1,155,840$2,917,342
83$3,834,255$1,552,941$1,160,883$3,146,954
84$4,190,610$1,594,296$1,165,033$3,398,398
85$4,582,219$1,636,584$1,168,229$3,673,871
86$5,012,644$1,679,814$1,170,403$3,975,793
87$5,485,807$1,723,999$1,171,485$4,306,830
88$6,006,032$1,769,148$1,171,402$4,669,922
89$6,578,082$1,815,270$1,170,078$5,068,307
90$7,207,202$1,862,375$1,167,432$5,505,552
91$7,899,175$1,910,469$1,163,379$5,985,589
92$8,660,369$1,959,561$1,157,831$6,512,752
93$9,497,803$2,009,655$1,150,695$7,091,816
94$10,419,209$2,060,758$1,141,872$7,728,041
95$11,433,105$2,112,872$1,131,263$8,427,228
96$12,548,880$2,166,001$1,118,758$9,195,764
97$13,776,876$2,220,146$1,104,247$10,040,693
98$15,128,491$2,275,306$1,087,612$10,969,775
99$16,616,280$2,331,479$1,068,731$11,991,560
100$18,254,082$2,388,663$1,047,474$13,115,473