Can I retire at age 68 with 992,000?

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 $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%18.9%
1 years$81,918$81,189$80,477$79,782$79,103$76,266
2 years$40,554$39,798$39,066$38,357$37,668$34,841
3 years$26,767$26,009$25,279$24,576$23,898$21,169
4 years$19,875$19,119$18,396$17,705$17,044$14,434
5 years$15,741$14,990$14,276$13,599$12,957$10,473
6 years$12,986$12,240$11,537$10,876$10,252$7,896
7 years$11,019$10,279$9,588$8,941$8,338$6,109
8 years$9,544$8,811$8,131$7,501$6,917$4,814
9 years$8,398$7,672$7,003$6,389$5,825$3,844
10 years$7,481$6,762$6,106$5,507$4,963$3,102
11 years$6,732$6,020$5,375$4,793$4,269$2,523
12 years$6,108$5,403$4,770$4,204$3,699$2,064
13 years$5,580$4,883$4,262$3,712$3,226$1,697
14 years$5,128$4,439$3,829$3,295$2,828$1,401
15 years$4,737$4,055$3,458$2,938$2,490$1,161
16 years$4,395$3,720$3,135$2,631$2,200$964
17 years$4,093$3,426$2,852$2,364$1,951$802
18 years$3,826$3,166$2,604$2,130$1,735$669
19 years$3,587$2,934$2,384$1,925$1,546$558
20 years$3,371$2,726$2,188$1,743$1,381$467
21 years$3,177$2,540$2,012$1,582$1,236$390
22 years$3,001$2,371$1,855$1,439$1,108$327
23 years$2,840$2,217$1,712$1,310$994$274
24 years$2,693$2,077$1,584$1,195$894$230
25 years$2,558$1,950$1,467$1,091$804$193
26 years$2,433$1,832$1,360$998$725$162
27 years$2,318$1,724$1,263$913$653$136
28 years$2,211$1,625$1,174$837$589$114
29 years$2,112$1,533$1,093$767$532$96
30 years$2,019$1,448$1,018$704$481$80
31 years$1,933$1,368$949$647$435$68
32 years$1,852$1,295$885$594$393$57
33 years$1,777$1,226$827$547$356$48
34 years$1,705$1,162$772$503$322$40
35 years$1,639$1,102$722$463$292$34
36 years$1,576$1,046$676$426$264$28
37 years$1,516$994$632$393$240$24
38 years$1,460$944$592$362$217$20
39 years$1,407$898$555$334$197$17
40 years$1,356$854$520$308$179$14
41 years$1,308$813$488$284$162$12
42 years$1,263$775$457$262$147$10
43 years$1,220$738$429$242$134$8
44 years$1,179$703$403$224$121$7
45 years$1,139$671$378$206$110$6
46 years$1,102$640$355$191$100$5
47 years$1,066$611$334$176$91$4
48 years$1,032$583$314$163$82$4
49 years$1,000$557$295$150$75$3
50 years$969$532$277$139$68$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $992,000, adding $5,539 every year, while hoping to spend $33,538 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: 51/38/11 Blend
67$992,000$992,000$992,000$992,000
68$1,098,897$1,046,321$1,030,945$1,151,465
69$1,175,301$1,061,907$1,029,798$1,203,565
70$1,258,373$1,077,132$1,027,488$1,256,143
71$1,348,760$1,091,944$1,023,941$1,312,529
72$1,447,170$1,106,286$1,019,080$1,373,091
73$1,554,384$1,120,096$1,012,821$1,438,233
74$1,671,261$1,133,311$1,005,081$1,508,402
75$1,798,747$1,145,861$995,769$1,584,094
76$1,937,883$1,157,672$984,791$1,665,851
77$2,089,814$1,168,665$972,048$1,754,277
78$2,255,801$1,178,756$957,438$1,850,034
79$2,437,233$1,187,855$940,853$1,953,854
80$2,635,639$1,195,868$922,179$2,066,547
81$2,852,701$1,202,692$901,299$2,189,004
82$3,090,272$1,208,220$878,088$2,322,210
83$3,350,393$1,212,336$852,418$2,467,251
84$3,635,312$1,214,919$824,152$2,625,326
85$3,947,502$1,215,838$793,149$2,797,758
86$4,289,689$1,214,957$759,262$2,986,007
87$4,664,875$1,212,127$722,335$3,191,685
88$5,076,366$1,207,195$682,207$3,416,569
89$5,527,802$1,199,994$638,708$3,662,620
90$6,023,195$1,190,351$591,661$3,932,004
91$6,566,962$1,178,079$540,883$4,227,107
92$7,163,969$1,162,982$486,180$4,550,566
93$7,819,577$1,144,851$427,350$4,905,286
94$8,539,691$1,123,466$364,183$5,294,474
95$9,330,816$1,098,592$296,459$5,721,669
96$10,200,118$1,069,982$223,949$6,190,774
97$11,155,492$1,037,373$146,414$6,706,093
98$12,205,635$1,000,487$63,601$7,272,375
99$13,360,130$959,031$0$7,894,861
100$14,629,533$912,694$0$8,582,234