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%11.8%
1 years$81,918$81,189$80,477$79,782$79,103$78,506
2 years$40,554$39,798$39,066$38,357$37,668$37,066
3 years$26,767$26,009$25,279$24,576$23,898$23,310
4 years$19,875$19,119$18,396$17,705$17,044$16,474
5 years$15,741$14,990$14,276$13,599$12,957$12,407
6 years$12,986$12,240$11,537$10,876$10,252$9,723
7 years$11,019$10,279$9,588$8,941$8,338$7,829
8 years$9,544$8,811$8,131$7,501$6,917$6,430
9 years$8,398$7,672$7,003$6,389$5,825$5,358
10 years$7,481$6,762$6,106$5,507$4,963$4,517
11 years$6,732$6,020$5,375$4,793$4,269$3,843
12 years$6,108$5,403$4,770$4,204$3,699$3,293
13 years$5,580$4,883$4,262$3,712$3,226$2,839
14 years$5,128$4,439$3,829$3,295$2,828$2,460
15 years$4,737$4,055$3,458$2,938$2,490$2,140
16 years$4,395$3,720$3,135$2,631$2,200$1,869
17 years$4,093$3,426$2,852$2,364$1,951$1,637
18 years$3,826$3,166$2,604$2,130$1,735$1,437
19 years$3,587$2,934$2,384$1,925$1,546$1,265
20 years$3,371$2,726$2,188$1,743$1,381$1,115
21 years$3,177$2,540$2,012$1,582$1,236$985
22 years$3,001$2,371$1,855$1,439$1,108$871
23 years$2,840$2,217$1,712$1,310$994$772
24 years$2,693$2,077$1,584$1,195$894$684
25 years$2,558$1,950$1,467$1,091$804$607
26 years$2,433$1,832$1,360$998$725$539
27 years$2,318$1,724$1,263$913$653$479
28 years$2,211$1,625$1,174$837$589$427
29 years$2,112$1,533$1,093$767$532$380
30 years$2,019$1,448$1,018$704$481$338
31 years$1,933$1,368$949$647$435$301
32 years$1,852$1,295$885$594$393$269
33 years$1,777$1,226$827$547$356$239
34 years$1,705$1,162$772$503$322$214
35 years$1,639$1,102$722$463$292$191
36 years$1,576$1,046$676$426$264$170
37 years$1,516$994$632$393$240$152
38 years$1,460$944$592$362$217$136
39 years$1,407$898$555$334$197$121
40 years$1,356$854$520$308$179$108
41 years$1,308$813$488$284$162$97
42 years$1,263$775$457$262$147$86
43 years$1,220$738$429$242$134$77
44 years$1,179$703$403$224$121$69
45 years$1,139$671$378$206$110$62
46 years$1,102$640$355$191$100$55
47 years$1,066$611$334$176$91$49
48 years$1,032$583$314$163$82$44
49 years$1,000$557$295$150$75$39
50 years$969$532$277$139$68$35

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $992,000, adding $6,189 every year, while hoping to spend $41,248 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: 52/28/20 Blend
67$992,000$992,000$992,000$992,000
68$1,099,568$1,046,992$1,031,616$1,150,385
69$1,167,836$1,054,407$1,022,288$1,193,448
70$1,241,686$1,060,803$1,011,264$1,235,468
71$1,321,642$1,066,086$998,445$1,280,293
72$1,408,282$1,070,158$983,726$1,328,203
73$1,502,243$1,072,911$966,997$1,379,509
74$1,604,222$1,074,234$948,142$1,434,553
75$1,714,989$1,074,008$927,041$1,493,718
76$1,835,389$1,072,106$903,569$1,557,424
77$1,966,352$1,068,393$877,592$1,626,137
78$2,108,902$1,062,726$848,973$1,700,374
79$2,264,164$1,054,953$817,567$1,780,705
80$2,433,378$1,044,915$783,225$1,867,763
81$2,617,907$1,032,441$745,788$1,962,246
82$2,819,253$1,017,349$705,090$2,064,927
83$3,039,066$999,449$660,961$2,176,662
84$3,279,167$978,538$613,218$2,298,396
85$3,541,556$954,400$561,676$2,431,173
86$3,828,438$926,809$506,135$2,576,151
87$4,142,240$895,524$446,392$2,734,606
88$4,485,634$860,290$382,232$2,907,951
89$4,861,562$820,838$313,430$3,097,747
90$5,273,264$776,882$239,752$3,305,718
91$5,724,308$728,120$160,955$3,533,769
92$6,218,624$674,234$76,783$3,784,006
93$6,760,538$614,886$0$4,058,756
94$7,354,817$549,720$0$4,363,371
95$8,006,712$478,359$0$4,715,572
96$8,722,003$400,405$0$5,102,154
97$9,507,059$315,437$0$5,526,640
98$10,368,897$223,012$0$5,992,922
99$11,315,244$122,659$0$6,505,288
100$12,354,614$13,884$0$7,068,472