Can I retire at age 68 with 992,000?

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 $992,000?

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$81,918$81,189$80,477$79,782$79,103$77,506
2 years$40,554$39,798$39,066$38,357$37,668$36,066
3 years$26,767$26,009$25,279$24,576$23,898$22,341
4 years$19,875$19,119$18,396$17,705$17,044$15,544
5 years$15,741$14,990$14,276$13,599$12,957$11,518
6 years$12,986$12,240$11,537$10,876$10,252$8,876
7 years$11,019$10,279$9,588$8,941$8,338$7,025
8 years$9,544$8,811$8,131$7,501$6,917$5,667
9 years$8,398$7,672$7,003$6,389$5,825$4,637
10 years$7,481$6,762$6,106$5,507$4,963$3,836
11 years$6,732$6,020$5,375$4,793$4,269$3,201
12 years$6,108$5,403$4,770$4,204$3,699$2,689
13 years$5,580$4,883$4,262$3,712$3,226$2,272
14 years$5,128$4,439$3,829$3,295$2,828$1,928
15 years$4,737$4,055$3,458$2,938$2,490$1,642
16 years$4,395$3,720$3,135$2,631$2,200$1,404
17 years$4,093$3,426$2,852$2,364$1,951$1,203
18 years$3,826$3,166$2,604$2,130$1,735$1,033
19 years$3,587$2,934$2,384$1,925$1,546$888
20 years$3,371$2,726$2,188$1,743$1,381$766
21 years$3,177$2,540$2,012$1,582$1,236$661
22 years$3,001$2,371$1,855$1,439$1,108$571
23 years$2,840$2,217$1,712$1,310$994$494
24 years$2,693$2,077$1,584$1,195$894$427
25 years$2,558$1,950$1,467$1,091$804$370
26 years$2,433$1,832$1,360$998$725$321
27 years$2,318$1,724$1,263$913$653$278
28 years$2,211$1,625$1,174$837$589$241
29 years$2,112$1,533$1,093$767$532$209
30 years$2,019$1,448$1,018$704$481$182
31 years$1,933$1,368$949$647$435$158
32 years$1,852$1,295$885$594$393$137
33 years$1,777$1,226$827$547$356$119
34 years$1,705$1,162$772$503$322$104
35 years$1,639$1,102$722$463$292$90
36 years$1,576$1,046$676$426$264$78
37 years$1,516$994$632$393$240$68
38 years$1,460$944$592$362$217$59
39 years$1,407$898$555$334$197$52
40 years$1,356$854$520$308$179$45
41 years$1,308$813$488$284$162$39
42 years$1,263$775$457$262$147$34
43 years$1,220$738$429$242$134$30
44 years$1,179$703$403$224$121$26
45 years$1,139$671$378$206$110$22
46 years$1,102$640$355$191$100$19
47 years$1,066$611$334$176$91$17
48 years$1,032$583$314$163$82$15
49 years$1,000$557$295$150$75$13
50 years$969$532$277$139$68$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $992,000, adding $5,749 every year, while hoping to spend $35,754 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: 68/22/10 Blend
67$992,000$992,000$992,000$992,000
68$1,099,114$1,046,538$1,031,162$1,171,228
69$1,173,182$1,059,776$1,027,664$1,233,096
70$1,253,606$1,072,465$1,022,850$1,295,893
71$1,340,997$1,084,540$1,016,640$1,363,629
72$1,436,028$1,095,931$1,008,946$1,436,781
73$1,539,436$1,106,565$999,679$1,515,877
74$1,652,035$1,116,363$988,745$1,601,499
75$1,774,721$1,125,243$976,045$1,694,288
76$1,908,476$1,133,114$961,477$1,794,951
77$2,054,386$1,139,881$944,932$1,904,266
78$2,213,643$1,145,445$926,296$2,023,093
79$2,387,560$1,149,697$905,453$2,152,378
80$2,577,582$1,152,524$882,277$2,293,167
81$2,785,301$1,153,803$856,639$2,446,610
82$3,012,469$1,153,407$828,403$2,613,976
83$3,261,015$1,151,197$797,428$2,796,665
84$3,533,062$1,147,030$763,566$2,996,219
85$3,830,950$1,140,750$726,661$3,214,340
86$4,157,254$1,132,194$686,552$3,452,904
87$4,514,812$1,121,189$643,069$3,713,979
88$4,906,745$1,107,550$596,034$3,999,845
89$5,336,496$1,091,083$545,264$4,313,016
90$5,807,853$1,071,581$490,565$4,656,264
91$6,324,991$1,048,824$431,735$5,032,646
92$6,892,505$1,022,582$368,564$5,445,532
93$7,515,460$992,608$300,831$5,898,636
94$8,199,435$958,644$228,306$6,396,056
95$8,950,572$920,412$150,750$6,942,307
96$9,775,642$877,624$67,911$7,542,370
97$10,682,101$829,971$0$8,201,733
98$11,678,162$777,126$0$8,928,636
99$12,772,876$718,747$0$9,735,440
100$13,976,213$654,469$0$10,622,277