Can I retire at age 68 with 985,000?

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 $985,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$81,340$80,616$79,909$79,219$78,545$76,959
2 years$40,268$39,518$38,791$38,086$37,403$35,812
3 years$26,578$25,825$25,100$24,402$23,730$22,184
4 years$19,735$18,984$18,267$17,580$16,924$15,435
5 years$15,630$14,884$14,176$13,503$12,866$11,437
6 years$12,895$12,154$11,456$10,799$10,180$8,814
7 years$10,941$10,207$9,520$8,878$8,279$6,976
8 years$9,477$8,749$8,074$7,448$6,868$5,627
9 years$8,339$7,618$6,954$6,344$5,784$4,604
10 years$7,429$6,715$6,063$5,468$4,928$3,809
11 years$6,684$5,978$5,337$4,759$4,239$3,178
12 years$6,065$5,365$4,737$4,174$3,673$2,670
13 years$5,541$4,849$4,232$3,685$3,203$2,256
14 years$5,092$4,407$3,802$3,271$2,808$1,914
15 years$4,704$4,026$3,433$2,918$2,472$1,631
16 years$4,364$3,694$3,113$2,612$2,185$1,394
17 years$4,065$3,402$2,832$2,347$1,937$1,194
18 years$3,799$3,143$2,586$2,115$1,723$1,025
19 years$3,561$2,913$2,367$1,911$1,535$882
20 years$3,348$2,707$2,172$1,731$1,371$760
21 years$3,155$2,522$1,998$1,571$1,227$656
22 years$2,980$2,354$1,842$1,428$1,100$567
23 years$2,820$2,202$1,700$1,301$987$490
24 years$2,674$2,063$1,573$1,187$888$424
25 years$2,539$1,936$1,456$1,084$799$367
26 years$2,416$1,819$1,351$991$719$318
27 years$2,301$1,712$1,254$907$649$276
28 years$2,195$1,613$1,166$831$585$240
29 years$2,097$1,522$1,085$762$528$208
30 years$2,005$1,437$1,011$699$477$181
31 years$1,919$1,359$942$642$432$157
32 years$1,839$1,286$879$590$391$136
33 years$1,764$1,218$821$543$353$118
34 years$1,693$1,154$767$499$320$103
35 years$1,627$1,095$717$460$290$89
36 years$1,564$1,039$671$423$263$78
37 years$1,505$987$628$390$238$68
38 years$1,450$938$588$360$216$59
39 years$1,397$892$551$332$196$51
40 years$1,347$848$516$306$177$44
41 years$1,299$808$484$282$161$39
42 years$1,254$769$454$260$146$34
43 years$1,211$733$426$240$133$29
44 years$1,170$698$400$222$120$25
45 years$1,131$666$376$205$109$22
46 years$1,094$635$353$189$99$19
47 years$1,059$606$331$175$90$17
48 years$1,025$579$311$162$82$15
49 years$993$553$293$149$74$13
50 years$962$528$275$138$67$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $985,000, adding $6,382 every year, while hoping to spend $47,645 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: 39/46/15 Blend
67$985,000$985,000$985,000$985,000
68$1,092,053$1,039,848$1,024,581$1,129,503
69$1,152,749$1,040,107$1,008,210$1,157,033
70$1,218,038$1,038,781$989,694$1,181,691
71$1,288,340$1,035,743$968,911$1,207,328
72$1,364,114$1,030,858$945,733$1,234,058
73$1,445,864$1,023,980$920,025$1,262,007
74$1,534,145$1,014,958$891,649$1,291,317
75$1,629,565$1,003,629$860,457$1,322,150
76$1,732,796$989,821$826,297$1,354,688
77$1,844,571$973,353$789,008$1,389,133
78$1,965,701$954,031$748,424$1,425,715
79$2,097,076$931,652$704,369$1,464,691
80$2,239,673$905,998$656,661$1,506,348
81$2,394,569$876,842$605,108$1,551,009
82$2,562,948$843,939$549,512$1,599,035
83$2,746,111$807,035$489,663$1,650,830
84$2,945,492$765,857$425,345$1,706,846
85$3,162,667$720,119$356,328$1,767,584
86$3,399,371$669,517$282,377$1,833,610
87$3,657,513$613,730$203,244$1,905,549
88$3,939,195$552,418$118,668$1,984,102
89$4,246,730$485,224$28,380$2,070,047
90$4,582,665$411,768$0$2,164,254
91$4,949,801$331,649$0$2,278,566
92$5,351,227$244,446$0$2,408,734
93$5,790,339$149,711$0$2,551,457
94$6,270,879$46,972$0$2,708,113
95$6,796,967$0$0$2,880,233
96$7,373,139$0$0$3,102,045
97$8,004,392$0$0$3,371,241
98$8,696,227$0$0$3,666,408
99$9,454,704$0$0$3,990,147
100$10,286,496$0$0$4,345,326