Can I retire at age 68 with 997,000?

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 $997,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.1%
1 years$82,331$81,598$80,882$80,184$79,502$77,205
2 years$40,758$39,999$39,263$38,550$37,858$35,562
3 years$26,902$26,140$25,406$24,699$24,019$21,795
4 years$19,976$19,216$18,489$17,795$17,130$14,997
5 years$15,821$15,065$14,348$13,668$13,022$10,985
6 years$13,052$12,302$11,596$10,930$10,304$8,364
7 years$11,075$10,331$9,636$8,986$8,380$6,538
8 years$9,592$8,856$8,172$7,538$6,952$5,207
9 years$8,440$7,710$7,039$6,421$5,855$4,204
10 years$7,519$6,796$6,136$5,535$4,988$3,431
11 years$6,766$6,050$5,402$4,817$4,290$2,823
12 years$6,139$5,431$4,794$4,225$3,718$2,338
13 years$5,608$4,908$4,284$3,730$3,242$1,946
14 years$5,154$4,461$3,849$3,311$2,842$1,627
15 years$4,761$4,075$3,475$2,953$2,502$1,365
16 years$4,417$3,739$3,151$2,644$2,211$1,148
17 years$4,114$3,443$2,867$2,376$1,961$968
18 years$3,845$3,182$2,617$2,141$1,744$818
19 years$3,605$2,949$2,396$1,935$1,554$692
20 years$3,388$2,740$2,199$1,752$1,388$587
21 years$3,193$2,552$2,022$1,590$1,242$498
22 years$3,016$2,383$1,864$1,446$1,113$423
23 years$2,854$2,228$1,721$1,317$999$359
24 years$2,706$2,088$1,592$1,201$898$306
25 years$2,570$1,959$1,474$1,097$808$260
26 years$2,445$1,841$1,367$1,003$728$222
27 years$2,329$1,733$1,270$918$657$189
28 years$2,222$1,633$1,180$841$592$161
29 years$2,122$1,541$1,098$771$535$137
30 years$2,029$1,455$1,023$708$483$117
31 years$1,943$1,375$954$650$437$100
32 years$1,862$1,301$890$597$395$85
33 years$1,785$1,232$831$549$358$73
34 years$1,714$1,168$776$505$324$62
35 years$1,647$1,108$726$465$293$53
36 years$1,583$1,052$679$429$266$45
37 years$1,524$999$636$395$241$38
38 years$1,467$949$595$364$218$33
39 years$1,414$903$558$336$198$28
40 years$1,363$859$523$310$180$24
41 years$1,315$817$490$286$163$20
42 years$1,269$778$460$264$148$17
43 years$1,226$742$431$243$134$15
44 years$1,185$707$405$225$122$13
45 years$1,145$674$380$207$111$11
46 years$1,108$643$357$192$100$9
47 years$1,072$614$335$177$91$8
48 years$1,038$586$315$164$83$7
49 years$1,005$560$296$151$75$6
50 years$973$534$279$140$68$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $997,000, adding $6,901 every year, while hoping to spend $36,959 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: 55/30/15 Blend
67$997,000$997,000$997,000$997,000
68$1,105,812$1,052,971$1,037,518$1,161,904
69$1,179,281$1,065,243$1,032,951$1,213,109
70$1,259,005$1,076,877$1,026,992$1,264,261
71$1,345,583$1,087,803$1,019,555$1,319,119
72$1,439,674$1,097,947$1,010,552$1,378,044
73$1,542,003$1,107,229$999,887$1,441,436
74$1,653,367$1,115,563$987,463$1,509,737
75$1,774,643$1,122,858$973,177$1,583,433
76$1,906,798$1,129,020$956,919$1,663,064
77$2,050,894$1,133,944$938,578$1,749,223
78$2,208,099$1,137,521$918,035$1,842,567
79$2,379,702$1,139,637$895,166$1,943,820
80$2,567,120$1,140,167$869,842$2,053,783
81$2,771,912$1,138,981$841,927$2,173,339
82$2,995,795$1,135,939$811,280$2,303,463
83$3,240,661$1,130,895$777,753$2,445,231
84$3,508,590$1,123,691$741,190$2,599,833
85$3,801,876$1,114,162$701,429$2,768,581
86$4,123,043$1,102,131$658,303$2,952,922
87$4,474,870$1,087,412$611,632$3,154,456
88$4,860,418$1,069,807$561,234$3,374,948
89$5,283,060$1,049,106$506,914$3,616,345
90$5,746,508$1,025,088$448,471$3,880,797
91$6,254,851$997,517$385,694$4,170,675
92$6,812,595$966,144$318,364$4,488,598
93$7,424,700$930,706$246,250$4,837,456
94$8,096,633$890,924$169,113$5,220,434
95$8,834,414$846,503$86,702$5,641,052
96$9,644,673$797,131$0$6,103,189
97$10,534,717$742,478$0$6,611,328
98$11,512,594$682,195$0$7,184,814
99$12,587,169$615,913$0$7,815,014
100$13,768,211$543,243$0$8,507,725