Can I retire at age 68 with 1,000,000?

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 $1,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$82,579$81,843$81,126$80,425$79,741$79,206
2 years$40,881$40,119$39,381$38,666$37,972$37,432
3 years$26,983$26,218$25,482$24,774$24,091$23,563
4 years$20,036$19,273$18,545$17,848$17,182$16,670
5 years$15,868$15,111$14,391$13,709$13,061$12,567
6 years$13,091$12,339$11,630$10,963$10,335$9,859
7 years$11,108$10,362$9,665$9,013$8,405$7,948
8 years$9,621$8,882$8,197$7,561$6,973$6,534
9 years$8,466$7,734$7,060$6,440$5,872$5,452
10 years$7,542$6,817$6,155$5,552$5,003$4,602
11 years$6,786$6,069$5,419$4,832$4,303$3,919
12 years$6,157$5,447$4,809$4,238$3,729$3,363
13 years$5,625$4,922$4,296$3,742$3,252$2,903
14 years$5,170$4,474$3,860$3,321$2,850$2,518
15 years$4,775$4,087$3,485$2,962$2,510$2,194
16 years$4,430$3,750$3,160$2,652$2,218$1,918
17 years$4,126$3,454$2,875$2,383$1,967$1,682
18 years$3,857$3,191$2,625$2,148$1,749$1,479
19 years$3,615$2,958$2,403$1,940$1,559$1,304
20 years$3,399$2,748$2,205$1,757$1,392$1,151
21 years$3,203$2,560$2,029$1,595$1,246$1,018
22 years$3,025$2,390$1,870$1,450$1,117$902
23 years$2,863$2,235$1,726$1,321$1,002$800
24 years$2,714$2,094$1,596$1,205$901$711
25 years$2,578$1,965$1,479$1,100$811$632
26 years$2,453$1,847$1,371$1,006$730$562
27 years$2,336$1,738$1,273$921$658$500
28 years$2,229$1,638$1,184$844$594$446
29 years$2,129$1,545$1,102$774$537$398
30 years$2,036$1,459$1,026$710$485$355
31 years$1,949$1,380$957$652$438$316
32 years$1,867$1,305$893$599$396$283
33 years$1,791$1,236$833$551$359$252
34 years$1,719$1,172$779$507$325$226
35 years$1,652$1,111$728$467$294$202
36 years$1,588$1,055$681$430$267$180
37 years$1,528$1,002$637$396$242$161
38 years$1,472$952$597$365$219$144
39 years$1,418$905$559$337$199$129
40 years$1,367$861$524$310$180$115
41 years$1,319$820$492$286$163$103
42 years$1,273$781$461$264$148$92
43 years$1,230$744$433$244$135$83
44 years$1,188$709$406$225$122$74
45 years$1,149$676$381$208$111$66
46 years$1,111$645$358$192$101$59
47 years$1,075$616$336$178$91$53
48 years$1,041$588$316$164$83$48
49 years$1,008$561$297$152$75$43
50 years$976$536$279$140$69$38

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $1,000,000, adding $2,487 every year, while hoping to spend $58,987 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: 49/37/14 Blend
67$1,000,000$1,000,000$1,000,000$1,000,000
68$1,104,565$1,051,565$1,036,065$1,154,309
69$1,154,469$1,040,330$1,008,012$1,177,592
70$1,207,486$1,026,568$977,042$1,196,541
71$1,263,872$1,010,092$942,994$1,215,816
72$1,323,906$990,705$905,703$1,235,466
73$1,387,893$968,198$864,993$1,255,549
74$1,456,168$942,350$820,681$1,276,136
75$1,529,100$912,927$772,576$1,297,305
76$1,607,088$879,682$720,478$1,319,149
77$1,690,576$842,350$664,178$1,341,774
78$1,780,045$800,656$603,459$1,365,302
79$1,876,027$754,305$538,092$1,389,872
80$1,979,103$702,988$467,839$1,415,645
81$2,089,912$646,374$392,452$1,442,801
82$2,209,155$584,119$311,671$1,471,547
83$2,337,602$515,854$225,226$1,502,118
84$2,476,099$441,192$132,832$1,534,779
85$2,625,574$359,724$34,195$1,569,830
86$2,787,049$271,017$0$1,607,609
87$2,961,644$174,613$0$1,659,116
88$3,150,594$70,030$0$1,720,305
89$3,355,252$0$0$1,786,596
90$3,577,109$0$0$1,876,191
91$3,817,804$0$0$2,004,417
92$4,079,138$0$0$2,143,733
93$4,363,094$0$0$2,295,207
94$4,671,852$0$0$2,460,016
95$5,007,810$0$0$2,639,452
96$5,373,608$0$0$2,834,938
97$5,772,150$0$0$3,048,042
98$6,206,631$0$0$3,280,486
99$6,680,570$0$0$3,534,168
100$7,197,839$0$0$3,811,177