Can I retire at age 68 with 1,120,000?

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 $1,120,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$92,489$91,665$90,861$90,076$89,310$87,759
2 years$45,786$44,934$44,107$43,306$42,529$40,970
3 years$30,221$29,365$28,540$27,747$26,982$25,466
4 years$22,440$21,586$20,770$19,990$19,244$17,781
5 years$17,772$16,924$16,118$15,354$14,629$13,224
6 years$14,662$13,820$13,026$12,279$11,575$10,230
7 years$12,441$11,606$10,825$10,095$9,414$8,128
8 years$10,776$9,948$9,180$8,469$7,810$6,584
9 years$9,482$8,662$7,907$7,213$6,577$5,410
10 years$8,447$7,635$6,893$6,218$5,604$4,494
11 years$7,601$6,797$6,069$5,411$4,819$3,767
12 years$6,896$6,100$5,386$4,747$4,176$3,179
13 years$6,300$5,513$4,812$4,191$3,642$2,698
14 years$5,790$5,011$4,324$3,720$3,193$2,301
15 years$5,348$4,578$3,904$3,317$2,811$1,969
16 years$4,962$4,200$3,539$2,970$2,484$1,691
17 years$4,622$3,868$3,221$2,669$2,203$1,456
18 years$4,319$3,574$2,940$2,405$1,959$1,257
19 years$4,049$3,313$2,691$2,173$1,746$1,087
20 years$3,807$3,078$2,470$1,968$1,559$942
21 years$3,587$2,867$2,272$1,786$1,395$817
22 years$3,388$2,677$2,094$1,624$1,251$710
23 years$3,206$2,503$1,933$1,479$1,123$617
24 years$3,040$2,345$1,788$1,349$1,009$537
25 years$2,888$2,201$1,656$1,232$908$468
26 years$2,747$2,069$1,536$1,127$818$408
27 years$2,617$1,947$1,426$1,031$737$355
28 years$2,496$1,834$1,326$945$665$310
29 years$2,384$1,731$1,234$866$601$271
30 years$2,280$1,634$1,149$795$543$236
31 years$2,182$1,545$1,071$730$491$207
32 years$2,091$1,462$1,000$671$444$181
33 years$2,006$1,384$933$617$402$158
34 years$1,925$1,312$872$568$364$138
35 years$1,850$1,245$815$523$330$121
36 years$1,779$1,181$763$481$299$106
37 years$1,712$1,122$714$444$271$92
38 years$1,648$1,066$669$409$245$81
39 years$1,588$1,014$626$377$222$71
40 years$1,531$965$587$348$202$62
41 years$1,477$918$551$321$183$54
42 years$1,426$874$516$296$166$47
43 years$1,377$833$485$273$151$41
44 years$1,331$794$455$252$137$36
45 years$1,286$757$427$233$124$32
46 years$1,244$723$401$215$113$28
47 years$1,204$689$377$199$102$24
48 years$1,166$658$354$184$93$21
49 years$1,129$629$333$170$84$19
50 years$1,094$600$313$157$77$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $1,120,000, adding $6,812 every year, while hoping to spend $40,355 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: 48/41/11 Blend
67$1,120,000$1,120,000$1,120,000$1,120,000
68$1,241,267$1,181,907$1,164,547$1,296,787
69$1,324,938$1,196,883$1,160,621$1,350,675
70$1,415,792$1,211,240$1,155,212$1,404,391
71$1,514,518$1,224,906$1,148,227$1,461,798
72$1,621,875$1,237,802$1,139,568$1,523,252
73$1,738,697$1,249,846$1,129,135$1,589,149
74$1,865,905$1,260,948$1,116,822$1,659,923
75$2,004,508$1,271,016$1,102,516$1,736,057
76$2,155,619$1,279,947$1,086,102$1,818,083
77$2,320,464$1,287,636$1,067,458$1,906,588
78$2,500,389$1,293,968$1,046,455$2,002,223
79$2,696,878$1,298,822$1,022,961$2,105,705
80$2,911,565$1,302,070$996,836$2,217,827
81$3,146,248$1,303,574$967,933$2,339,464
82$3,402,906$1,303,190$936,100$2,471,585
83$3,683,719$1,300,763$901,176$2,615,256
84$3,991,087$1,296,129$862,994$2,771,660
85$4,327,653$1,289,114$821,379$2,942,098
86$4,696,327$1,279,534$776,148$3,128,012
87$5,100,314$1,267,193$727,111$3,330,989
88$5,543,144$1,251,884$674,068$3,552,786
89$6,028,705$1,233,386$616,809$3,795,340
90$6,561,278$1,211,467$555,117$4,060,792
91$7,145,579$1,185,880$488,764$4,351,505
92$7,786,803$1,156,363$417,513$4,670,086
93$8,490,672$1,122,640$341,115$5,019,416
94$9,263,488$1,084,417$259,309$5,402,672
95$10,112,195$1,041,384$171,827$5,823,364
96$11,044,440$993,213$78,385$6,285,364
97$12,068,650$939,557$0$6,792,947
98$13,194,105$880,049$0$7,353,332
99$14,431,033$814,301$0$7,979,204
100$15,790,698$741,901$0$8,667,133