Can I retire at age 68 with 996,000?

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 $996,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$82,249$81,516$80,801$80,104$79,422$77,190
2 years$40,717$39,959$39,224$38,511$37,820$35,588
3 years$26,875$26,114$25,380$24,675$23,995$21,832
4 years$19,956$19,196$18,470$17,777$17,113$15,038
5 years$15,805$15,050$14,334$13,654$13,009$11,026
6 years$13,039$12,290$11,584$10,919$10,294$8,405
7 years$11,063$10,321$9,626$8,977$8,372$6,577
8 years$9,583$8,847$8,164$7,531$6,945$5,244
9 years$8,432$7,703$7,032$6,415$5,849$4,240
10 years$7,511$6,790$6,130$5,530$4,983$3,464
11 years$6,759$6,044$5,397$4,812$4,286$2,854
12 years$6,132$5,425$4,790$4,221$3,714$2,366
13 years$5,603$4,903$4,279$3,727$3,239$1,972
14 years$5,149$4,456$3,845$3,308$2,839$1,651
15 years$4,756$4,071$3,471$2,950$2,500$1,387
16 years$4,413$3,735$3,147$2,642$2,209$1,169
17 years$4,110$3,440$2,864$2,373$1,959$987
18 years$3,841$3,179$2,614$2,139$1,742$835
19 years$3,601$2,946$2,393$1,933$1,552$708
20 years$3,385$2,737$2,197$1,750$1,387$601
21 years$3,190$2,550$2,020$1,589$1,241$511
22 years$3,013$2,380$1,862$1,444$1,112$434
23 years$2,851$2,226$1,719$1,315$998$370
24 years$2,704$2,086$1,590$1,200$897$315
25 years$2,568$1,957$1,473$1,096$808$268
26 years$2,443$1,840$1,366$1,002$727$229
27 years$2,327$1,731$1,268$917$656$195
28 years$2,220$1,631$1,179$840$592$167
29 years$2,120$1,539$1,097$770$534$142
30 years$2,027$1,453$1,022$707$483$122
31 years$1,941$1,374$953$649$437$104
32 years$1,860$1,300$889$597$395$89
33 years$1,784$1,231$830$549$357$76
34 years$1,712$1,167$776$505$324$65
35 years$1,645$1,107$725$465$293$55
36 years$1,582$1,050$678$428$266$47
37 years$1,522$998$635$394$241$41
38 years$1,466$948$595$364$218$35
39 years$1,412$902$557$335$198$30
40 years$1,362$858$522$309$179$25
41 years$1,314$817$490$285$163$22
42 years$1,268$778$459$263$148$19
43 years$1,225$741$431$243$134$16
44 years$1,183$706$404$224$122$14
45 years$1,144$674$380$207$110$12
46 years$1,107$643$357$191$100$10
47 years$1,071$613$335$177$91$8
48 years$1,036$585$315$163$83$7
49 years$1,004$559$296$151$75$6
50 years$972$534$278$140$68$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $996,000, adding $5,795 every year, while hoping to spend $43,213 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: 69/5/26 Blend
67$996,000$996,000$996,000$996,000
68$1,103,570$1,050,782$1,035,344$1,171,965
69$1,170,155$1,056,292$1,024,049$1,224,087
70$1,242,085$1,060,623$1,010,928$1,275,600
71$1,319,857$1,063,673$995,874$1,330,972
72$1,404,020$1,065,332$978,774$1,390,587
73$1,495,179$1,065,482$959,512$1,454,864
74$1,593,997$1,064,000$937,965$1,524,269
75$1,701,203$1,060,754$914,005$1,599,315
76$1,817,599$1,055,604$887,497$1,680,570
77$1,944,068$1,048,403$858,303$1,768,659
78$2,081,581$1,038,992$826,274$1,864,272
79$2,231,205$1,027,206$791,257$1,968,172
80$2,394,117$1,012,868$753,092$2,081,200
81$2,571,608$995,789$711,612$2,204,285
82$2,765,101$975,773$666,641$2,338,451
83$2,976,164$952,608$617,996$2,484,829
84$3,206,519$926,072$565,485$2,644,667
85$3,458,065$895,930$508,909$2,819,341
86$3,732,888$861,932$448,059$3,010,372
87$4,033,291$823,814$382,716$3,219,434
88$4,361,803$781,297$312,654$3,448,378
89$4,721,212$734,087$237,633$3,699,244
90$5,114,588$681,869$157,406$3,974,282
91$5,545,311$624,316$71,714$4,275,977
92$6,017,102$561,076$0$4,607,066
93$6,534,060$491,783$0$4,976,047
94$7,100,699$416,045$0$5,402,365
95$7,721,990$333,451$0$5,869,862
96$8,403,409$243,566$0$6,382,678
97$9,150,987$145,931$0$6,945,374
98$9,971,367$40,060$0$7,562,975
99$10,871,865$0$0$8,241,017
100$11,860,541$0$0$8,989,703