Can I retire at age 68 with 988,000?

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 $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%14.6%
1 years$81,588$80,861$80,152$79,460$78,785$77,289
2 years$40,390$39,638$38,909$38,202$37,516$36,015
3 years$26,659$25,904$25,177$24,476$23,802$22,342
4 years$19,795$19,042$18,322$17,634$16,976$15,569
5 years$15,678$14,929$14,219$13,545$12,905$11,554
6 years$12,934$12,191$11,491$10,832$10,211$8,919
7 years$10,975$10,238$9,549$8,905$8,304$7,071
8 years$9,506$8,776$8,098$7,470$6,889$5,714
9 years$8,364$7,641$6,975$6,363$5,802$4,684
10 years$7,451$6,735$6,081$5,485$4,943$3,882
11 years$6,705$5,996$5,354$4,774$4,251$3,245
12 years$6,083$5,382$4,751$4,187$3,684$2,731
13 years$5,558$4,863$4,245$3,697$3,213$2,312
14 years$5,108$4,421$3,814$3,281$2,816$1,966
15 years$4,718$4,038$3,444$2,926$2,480$1,679
16 years$4,377$3,705$3,122$2,620$2,192$1,437
17 years$4,077$3,412$2,841$2,354$1,943$1,234
18 years$3,810$3,153$2,593$2,122$1,728$1,062
19 years$3,572$2,922$2,374$1,917$1,540$916
20 years$3,358$2,715$2,179$1,736$1,376$791
21 years$3,164$2,529$2,004$1,576$1,231$684
22 years$2,989$2,361$1,847$1,433$1,103$592
23 years$2,829$2,208$1,706$1,305$990$514
24 years$2,682$2,069$1,577$1,190$890$446
25 years$2,547$1,942$1,461$1,087$801$387
26 years$2,423$1,825$1,355$994$722$336
27 years$2,308$1,717$1,258$910$651$292
28 years$2,202$1,618$1,170$833$587$254
29 years$2,103$1,527$1,088$764$530$221
30 years$2,011$1,442$1,014$701$479$192
31 years$1,925$1,363$945$644$433$168
32 years$1,845$1,290$882$592$392$146
33 years$1,769$1,221$823$544$354$127
34 years$1,699$1,158$769$501$321$111
35 years$1,632$1,098$719$461$291$97
36 years$1,569$1,042$673$425$263$84
37 years$1,510$990$630$391$239$73
38 years$1,454$941$590$361$216$64
39 years$1,401$894$553$333$196$56
40 years$1,351$851$518$307$178$49
41 years$1,303$810$486$283$161$42
42 years$1,258$771$456$261$147$37
43 years$1,215$735$427$241$133$32
44 years$1,174$701$401$223$121$28
45 years$1,135$668$377$206$110$25
46 years$1,098$637$354$190$100$21
47 years$1,062$608$332$175$90$19
48 years$1,028$581$312$162$82$16
49 years$996$554$294$150$75$14
50 years$965$530$276$138$68$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $988,000, adding $5,474 every year, while hoping to spend $20,199 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: 52/42/6 Blend
67$988,000$988,000$988,000$988,000
68$1,094,422$1,042,058$1,026,744$1,149,499
69$1,184,562$1,071,628$1,039,649$1,217,033
70$1,283,219$1,101,969$1,052,308$1,287,771
71$1,391,240$1,133,099$1,064,694$1,364,208
72$1,509,559$1,165,033$1,076,774$1,446,883
73$1,639,204$1,197,790$1,088,516$1,536,391
74$1,781,307$1,231,385$1,099,884$1,633,385
75$1,937,113$1,265,835$1,110,843$1,738,586
76$2,107,996$1,301,159$1,121,354$1,852,785
77$2,295,468$1,337,372$1,131,376$1,976,854
78$2,501,194$1,374,492$1,140,866$2,111,752
79$2,727,009$1,412,536$1,149,778$2,258,535
80$2,974,935$1,451,520$1,158,066$2,418,366
81$3,247,197$1,491,463$1,165,680$2,592,525
82$3,546,247$1,532,381$1,172,566$2,782,421
83$3,874,787$1,574,291$1,178,670$2,989,607
84$4,235,793$1,617,209$1,183,934$3,215,793
85$4,632,544$1,661,152$1,188,295$3,462,859
86$5,068,651$1,706,136$1,191,691$3,732,880
87$5,548,095$1,752,178$1,194,054$4,028,139
88$6,075,258$1,799,293$1,195,312$4,351,150
89$6,654,972$1,847,495$1,195,393$4,704,683
90$7,292,558$1,896,801$1,194,217$5,091,791
91$7,993,879$1,947,225$1,191,704$5,515,834
92$8,765,395$1,998,780$1,187,767$5,980,515
93$9,614,225$2,051,479$1,182,316$6,489,913
94$10,548,210$2,105,336$1,175,258$7,048,522
95$11,575,992$2,160,361$1,166,493$7,661,293
96$12,707,091$2,216,567$1,155,918$8,333,680
97$13,951,998$2,273,963$1,143,426$9,071,693
98$15,322,272$2,332,557$1,128,901$9,881,952
99$16,830,650$2,392,359$1,112,225$10,771,752
100$18,491,167$2,453,375$1,093,275$11,749,131