Can I retire at age 68 with 1,220,000?

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 $1,220,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$100,746$99,849$98,974$98,119$97,285$96,389
2 years$49,874$48,946$48,045$47,173$46,326$45,424
3 years$32,919$31,987$31,089$30,224$29,391$28,510
4 years$24,443$23,513$22,625$21,775$20,962$20,109
5 years$19,359$18,435$17,558$16,725$15,935$15,112
6 years$15,971$15,053$14,189$13,375$12,609$11,818
7 years$13,552$12,642$11,791$10,996$10,254$9,495
8 years$11,738$10,836$10,000$9,225$8,507$7,780
9 years$10,328$9,435$8,613$7,857$7,164$6,468
10 years$9,201$8,317$7,509$6,773$6,104$5,440
11 years$8,279$7,404$6,611$5,895$5,250$4,616
12 years$7,512$6,645$5,867$5,170$4,549$3,946
13 years$6,863$6,005$5,242$4,565$3,967$3,393
14 years$6,307$5,459$4,710$4,052$3,478$2,932
15 years$5,826$4,987$4,252$3,614$3,062$2,544
16 years$5,405$4,575$3,855$3,236$2,706$2,215
17 years$5,034$4,213$3,508$2,907$2,399$1,935
18 years$4,705$3,893$3,202$2,620$2,133$1,694
19 years$4,411$3,608$2,932$2,367$1,902$1,487
20 years$4,146$3,353$2,691$2,144$1,699$1,307
21 years$3,907$3,123$2,475$1,946$1,520$1,151
22 years$3,690$2,915$2,281$1,769$1,362$1,015
23 years$3,493$2,727$2,106$1,611$1,223$896
24 years$3,312$2,555$1,948$1,470$1,099$792
25 years$3,145$2,398$1,804$1,342$989$701
26 years$2,992$2,253$1,673$1,227$891$621
27 years$2,850$2,121$1,554$1,123$803$550
28 years$2,719$1,998$1,444$1,029$725$488
29 years$2,597$1,885$1,344$944$655$433
30 years$2,483$1,780$1,252$866$591$384
31 years$2,377$1,683$1,167$795$535$341
32 years$2,278$1,592$1,089$731$484$303
33 years$2,185$1,508$1,017$672$438$269
34 years$2,097$1,429$950$619$396$240
35 years$2,015$1,356$888$569$359$213
36 years$1,938$1,287$831$524$325$189
37 years$1,864$1,222$778$483$295$169
38 years$1,795$1,161$728$445$267$150
39 years$1,730$1,104$682$411$242$134
40 years$1,668$1,051$640$379$220$119
41 years$1,609$1,000$600$349$199$106
42 years$1,553$953$563$323$181$94
43 years$1,500$908$528$298$164$84
44 years$1,450$865$495$275$149$75
45 years$1,401$825$465$254$135$67
46 years$1,355$787$437$234$123$59
47 years$1,312$751$411$217$112$53
48 years$1,270$717$386$200$101$47
49 years$1,230$685$363$185$92$42
50 years$1,191$654$341$171$84$37

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $1,220,000, adding $5,430 every year, while hoping to spend $30,793 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: 41/42/17 Blend
67$1,220,000$1,220,000$1,220,000$1,220,000
68$1,350,041$1,285,381$1,266,471$1,398,420
69$1,454,982$1,315,601$1,276,134$1,463,459
70$1,569,594$1,346,270$1,285,089$1,530,399
71$1,694,833$1,377,377$1,293,280$1,602,201
72$1,831,748$1,408,910$1,300,646$1,679,324
73$1,981,495$1,440,856$1,307,127$1,762,273
74$2,145,348$1,473,199$1,312,656$1,851,606
75$2,324,709$1,505,921$1,317,166$1,947,936
76$2,521,122$1,539,004$1,320,584$2,051,939
77$2,736,286$1,572,425$1,322,833$2,164,362
78$2,972,075$1,606,161$1,323,836$2,286,026
79$3,230,550$1,640,186$1,323,507$2,417,836
80$3,513,982$1,674,471$1,321,761$2,560,791
81$3,824,872$1,708,985$1,318,504$2,715,990
82$4,165,976$1,743,692$1,313,640$2,884,646
83$4,540,328$1,778,555$1,307,070$3,068,096
84$4,951,270$1,813,533$1,298,685$3,267,814
85$5,402,485$1,848,582$1,288,377$3,485,425
86$5,898,029$1,883,653$1,276,028$3,722,719
87$6,442,370$1,918,694$1,261,517$3,981,671
88$7,040,430$1,953,648$1,244,716$4,264,458
89$7,697,632$1,988,455$1,225,492$4,573,479
90$8,419,949$2,023,048$1,203,705$4,911,380
91$9,213,963$2,057,356$1,179,208$5,281,078
92$10,086,925$2,091,304$1,151,849$5,685,788
93$11,046,823$2,124,809$1,121,467$6,129,057
94$12,102,458$2,157,784$1,087,895$6,614,791
95$13,263,526$2,190,133$1,050,958$7,147,300
96$14,540,712$2,221,756$1,010,471$7,731,335
97$15,945,787$2,252,544$966,244$8,372,132
98$17,491,719$2,282,381$918,075$9,075,466
99$19,192,800$2,311,143$865,756$9,847,701
100$21,064,775$2,338,698$809,068$10,695,854