Can I retire at age 68 with 988,000?

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 $988,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$81,588$80,861$80,152$79,460$78,785$77,384
2 years$40,390$39,638$38,909$38,202$37,516$36,110
3 years$26,659$25,904$25,177$24,476$23,802$22,434
4 years$19,795$19,042$18,322$17,634$16,976$15,656
5 years$15,678$14,929$14,219$13,545$12,905$11,637
6 years$12,934$12,191$11,491$10,832$10,211$8,998
7 years$10,975$10,238$9,549$8,905$8,304$7,145
8 years$9,506$8,776$8,098$7,470$6,889$5,784
9 years$8,364$7,641$6,975$6,363$5,802$4,750
10 years$7,451$6,735$6,081$5,485$4,943$3,944
11 years$6,705$5,996$5,354$4,774$4,251$3,303
12 years$6,083$5,382$4,751$4,187$3,684$2,786
13 years$5,558$4,863$4,245$3,697$3,213$2,363
14 years$5,108$4,421$3,814$3,281$2,816$2,013
15 years$4,718$4,038$3,444$2,926$2,480$1,722
16 years$4,377$3,705$3,122$2,620$2,192$1,478
17 years$4,077$3,412$2,841$2,354$1,943$1,272
18 years$3,810$3,153$2,593$2,122$1,728$1,097
19 years$3,572$2,922$2,374$1,917$1,540$948
20 years$3,358$2,715$2,179$1,736$1,376$821
21 years$3,164$2,529$2,004$1,576$1,231$711
22 years$2,989$2,361$1,847$1,433$1,103$617
23 years$2,829$2,208$1,706$1,305$990$536
24 years$2,682$2,069$1,577$1,190$890$466
25 years$2,547$1,942$1,461$1,087$801$406
26 years$2,423$1,825$1,355$994$722$354
27 years$2,308$1,717$1,258$910$651$308
28 years$2,202$1,618$1,170$833$587$269
29 years$2,103$1,527$1,088$764$530$234
30 years$2,011$1,442$1,014$701$479$204
31 years$1,925$1,363$945$644$433$178
32 years$1,845$1,290$882$592$392$156
33 years$1,769$1,221$823$544$354$136
34 years$1,699$1,158$769$501$321$119
35 years$1,632$1,098$719$461$291$104
36 years$1,569$1,042$673$425$263$91
37 years$1,510$990$630$391$239$79
38 years$1,454$941$590$361$216$69
39 years$1,401$894$553$333$196$61
40 years$1,351$851$518$307$178$53
41 years$1,303$810$486$283$161$46
42 years$1,258$771$456$261$147$41
43 years$1,215$735$427$241$133$35
44 years$1,174$701$401$223$121$31
45 years$1,135$668$377$206$110$27
46 years$1,098$637$354$190$100$24
47 years$1,062$608$332$175$90$21
48 years$1,028$581$312$162$82$18
49 years$996$554$294$150$75$16
50 years$965$530$276$138$68$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $988,000, adding $2,717 every year, while hoping to spend $30,712 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: 49/21/30 Blend
67$988,000$988,000$988,000$988,000
68$1,091,579$1,039,215$1,023,901$1,135,622
69$1,170,242$1,057,459$1,025,524$1,185,117
70$1,255,900$1,075,568$1,026,172$1,235,633
71$1,349,234$1,093,502$1,025,781$1,289,935
72$1,450,992$1,111,220$1,024,281$1,348,397
73$1,562,000$1,128,676$1,021,601$1,411,433
74$1,683,165$1,145,823$1,017,666$1,479,499
75$1,815,487$1,162,608$1,012,397$1,553,099
76$1,960,067$1,178,975$1,005,712$1,632,789
77$2,118,114$1,194,865$997,524$1,719,183
78$2,290,963$1,210,215$987,742$1,812,960
79$2,480,082$1,224,956$976,272$1,914,867
80$2,687,087$1,239,016$963,014$2,025,731
81$2,913,759$1,252,317$947,864$2,146,464
82$3,162,059$1,264,776$930,714$2,278,073
83$3,434,144$1,276,306$911,448$2,421,668
84$3,732,393$1,286,811$889,948$2,578,476
85$4,059,424$1,296,192$866,088$2,749,851
86$4,418,122$1,304,342$839,738$2,937,285
87$4,811,663$1,311,147$810,762$3,142,427
88$5,243,546$1,316,487$779,016$3,367,095
89$5,717,626$1,320,233$744,352$3,613,297
90$6,238,148$1,322,248$706,612$3,883,245
91$6,809,789$1,322,388$665,633$4,179,384
92$7,437,700$1,320,499$621,245$4,504,409
93$8,127,558$1,316,416$573,269$4,861,292
94$8,885,615$1,309,966$521,520$5,253,314
95$9,718,759$1,300,966$465,802$5,684,094
96$10,634,578$1,289,218$405,911$6,157,623
97$11,641,432$1,274,517$341,637$6,678,304
98$12,748,533$1,256,643$272,756$7,250,995
99$13,966,027$1,235,363$199,037$7,881,051
100$15,305,096$1,210,429$120,239$8,574,381