Can I retire at age 68 with 1,190,000?

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 $1,190,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.6%
1 years$98,269$97,394$96,540$95,706$94,892$91,235
2 years$48,648$47,742$46,864$46,013$45,187$41,546
3 years$32,110$31,200$30,324$29,481$28,668$25,159
4 years$23,842$22,935$22,068$21,239$20,447$17,094
5 years$18,883$17,982$17,126$16,314$15,543$12,357
6 years$15,578$14,683$13,840$13,046$12,299$9,281
7 years$13,218$12,331$11,501$10,726$10,002$7,152
8 years$11,449$10,570$9,754$8,998$8,298$5,612
9 years$10,074$9,203$8,401$7,664$6,988$4,463
10 years$8,975$8,112$7,324$6,607$5,954$3,585
11 years$8,076$7,222$6,448$5,750$5,121$2,902
12 years$7,327$6,482$5,723$5,043$4,437$2,364
13 years$6,694$5,858$5,113$4,452$3,870$1,934
14 years$6,152$5,324$4,594$3,952$3,392$1,589
15 years$5,682$4,864$4,148$3,525$2,987$1,310
16 years$5,272$4,463$3,760$3,156$2,640$1,082
17 years$4,910$4,110$3,422$2,836$2,340$896
18 years$4,589$3,798$3,124$2,556$2,081$743
19 years$4,302$3,520$2,860$2,309$1,855$617
20 years$4,044$3,271$2,624$2,091$1,657$513
21 years$3,811$3,046$2,414$1,898$1,483$427
22 years$3,600$2,844$2,225$1,726$1,329$356
23 years$3,407$2,660$2,054$1,572$1,193$296
24 years$3,230$2,492$1,900$1,433$1,072$247
25 years$3,068$2,339$1,760$1,309$965$206
26 years$2,919$2,198$1,632$1,197$869$172
27 years$2,780$2,069$1,515$1,096$784$144
28 years$2,652$1,949$1,409$1,004$707$120
29 years$2,533$1,839$1,311$921$638$100
30 years$2,422$1,737$1,221$845$577$84
31 years$2,319$1,642$1,138$776$522$70
32 years$2,222$1,553$1,062$713$472$58
33 years$2,131$1,471$992$656$427$49
34 years$2,046$1,394$927$603$387$41
35 years$1,966$1,322$866$555$350$34
36 years$1,890$1,255$810$512$317$28
37 years$1,819$1,192$759$471$288$24
38 years$1,751$1,133$710$434$261$20
39 years$1,687$1,077$666$401$236$17
40 years$1,627$1,025$624$369$214$14
41 years$1,570$976$585$341$195$12
42 years$1,515$929$549$315$176$10
43 years$1,463$885$515$290$160$8
44 years$1,414$844$483$268$145$7
45 years$1,367$805$454$248$132$6
46 years$1,322$768$426$229$120$5
47 years$1,279$733$400$211$109$4
48 years$1,238$699$376$195$99$3
49 years$1,199$668$354$180$90$3
50 years$1,162$638$333$167$82$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $1,190,000, adding $5,482 every year, while hoping to spend $20,677 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: 55/15/30 Blend
67$1,190,000$1,190,000$1,190,000$1,190,000
68$1,317,035$1,253,965$1,235,520$1,378,223
69$1,429,372$1,293,409$1,254,909$1,460,562
70$1,552,475$1,334,093$1,274,256$1,547,625
71$1,687,419$1,376,055$1,293,535$1,642,048
72$1,835,391$1,419,337$1,312,723$1,744,547
73$1,997,695$1,463,978$1,331,794$1,855,913
74$2,175,769$1,510,023$1,350,718$1,977,014
75$2,371,198$1,557,514$1,369,468$2,108,809
76$2,585,725$1,606,498$1,388,010$2,252,352
77$2,821,274$1,657,020$1,406,313$2,408,806
78$3,079,960$1,709,131$1,424,341$2,579,450
79$3,364,116$1,762,878$1,442,057$2,765,694
80$3,676,311$1,818,315$1,459,421$2,969,092
81$4,019,375$1,875,493$1,476,392$3,191,354
82$4,396,427$1,934,467$1,492,926$3,434,364
83$4,810,900$1,995,293$1,508,977$3,700,200
84$5,266,580$2,058,031$1,524,495$3,991,150
85$5,767,636$2,122,739$1,539,431$4,309,733
86$6,318,661$2,189,479$1,553,728$4,658,728
87$6,924,716$2,258,316$1,567,330$5,041,193
88$7,591,378$2,329,314$1,580,176$5,460,501
89$8,324,791$2,402,543$1,592,204$5,920,365
90$9,131,723$2,478,070$1,603,346$6,424,880
91$10,019,632$2,555,970$1,613,532$6,978,556
92$10,996,738$2,636,315$1,622,688$7,586,361
93$12,072,094$2,719,183$1,630,737$8,253,773
94$13,255,677$2,804,653$1,637,597$8,986,826
95$14,558,481$2,892,806$1,643,181$9,792,168
96$15,992,619$2,983,727$1,647,401$10,677,128
97$17,571,438$3,077,501$1,650,160$11,649,779
98$19,309,645$3,174,219$1,651,361$12,719,019
99$21,223,446$3,273,973$1,650,899$13,894,651
100$23,330,697$3,376,857$1,648,663$15,187,481