Can I retire at age 68 with 998,000?

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 $998,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$82,414$81,680$80,964$80,265$79,582$78,425
2 years$40,799$40,039$39,303$38,589$37,896$36,733
3 years$26,929$26,166$25,431$24,724$24,043$22,910
4 years$19,996$19,235$18,508$17,812$17,148$16,053
5 years$15,837$15,080$14,363$13,682$13,035$11,983
6 years$13,065$12,314$11,607$10,941$10,314$9,305
7 years$11,086$10,341$9,646$8,995$8,388$7,422
8 years$9,602$8,865$8,180$7,546$6,959$6,036
9 years$8,449$7,718$7,046$6,428$5,860$4,980
10 years$7,527$6,803$6,143$5,541$4,993$4,156
11 years$6,773$6,056$5,408$4,822$4,294$3,498
12 years$6,145$5,436$4,799$4,230$3,722$2,965
13 years$5,614$4,913$4,288$3,734$3,245$2,528
14 years$5,159$4,465$3,853$3,315$2,845$2,166
15 years$4,766$4,079$3,478$2,956$2,505$1,863
16 years$4,422$3,743$3,154$2,647$2,214$1,608
17 years$4,118$3,447$2,870$2,378$1,963$1,392
18 years$3,849$3,185$2,620$2,143$1,745$1,207
19 years$3,608$2,952$2,398$1,937$1,556$1,049
20 years$3,392$2,743$2,201$1,754$1,389$914
21 years$3,196$2,555$2,024$1,592$1,243$797
22 years$3,019$2,385$1,866$1,447$1,115$696
23 years$2,857$2,231$1,723$1,318$1,000$608
24 years$2,709$2,090$1,593$1,202$899$532
25 years$2,573$1,961$1,476$1,098$809$466
26 years$2,448$1,843$1,369$1,004$729$409
27 years$2,332$1,735$1,271$919$657$358
28 years$2,224$1,635$1,181$842$593$314
29 years$2,124$1,542$1,099$772$535$276
30 years$2,031$1,456$1,024$709$484$243
31 years$1,945$1,377$955$651$437$213
32 years$1,863$1,303$891$598$396$187
33 years$1,787$1,234$832$550$358$165
34 years$1,716$1,169$777$506$324$145
35 years$1,648$1,109$727$466$294$127
36 years$1,585$1,053$680$429$266$112
37 years$1,525$1,000$636$395$241$99
38 years$1,469$950$596$364$219$87
39 years$1,415$903$558$336$198$76
40 years$1,364$860$523$310$180$67
41 years$1,316$818$491$286$163$59
42 years$1,271$779$460$264$148$52
43 years$1,227$742$432$244$134$46
44 years$1,186$708$405$225$122$40
45 years$1,146$675$381$208$111$36
46 years$1,109$644$357$192$101$31
47 years$1,073$614$336$177$91$28
48 years$1,039$587$316$164$83$24
49 years$1,006$560$297$151$75$21
50 years$974$535$279$140$68$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $998,000, adding $5,483 every year, while hoping to spend $35,193 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: 52/38/10 Blend
67$998,000$998,000$998,000$998,000
68$1,105,452$1,052,558$1,037,089$1,159,797
69$1,180,763$1,066,688$1,034,386$1,211,540
70$1,262,576$1,080,331$1,030,413$1,263,539
71$1,351,517$1,093,426$1,025,091$1,319,267
72$1,448,276$1,105,908$1,018,335$1,379,084
73$1,553,609$1,117,706$1,010,059$1,443,390
74$1,668,351$1,128,748$1,000,170$1,512,621
75$1,793,420$1,138,953$988,572$1,587,263
76$1,929,824$1,148,237$975,165$1,667,850
77$2,078,676$1,156,511$959,843$1,754,973
78$2,241,200$1,163,679$942,496$1,849,283
79$2,418,742$1,169,638$923,009$1,951,500
80$2,612,784$1,174,282$901,261$2,062,418
81$2,824,960$1,177,493$877,125$2,182,913
82$3,057,066$1,179,151$850,469$2,313,954
83$3,311,082$1,179,124$821,155$2,456,607
84$3,589,187$1,177,276$789,038$2,612,053
85$3,893,780$1,173,458$753,967$2,781,592
86$4,227,504$1,167,517$715,783$2,966,659
87$4,593,270$1,159,285$674,322$3,168,842
88$4,994,283$1,148,589$629,411$3,389,887
89$5,434,072$1,135,243$580,869$3,631,727
90$5,916,527$1,119,049$528,508$3,896,491
91$6,445,930$1,099,800$472,130$4,186,529
92$7,026,998$1,077,273$411,530$4,504,437
93$7,664,929$1,051,236$346,492$4,853,077
94$8,365,445$1,021,440$276,793$5,235,606
95$9,134,852$987,623$202,198$5,655,510
96$9,980,098$949,507$122,462$6,116,633
97$10,908,833$906,798$37,330$6,623,217
98$11,929,489$859,186$0$7,179,942
99$13,051,352$806,341$0$7,797,679
100$14,284,654$747,916$0$8,481,037