Can I retire at age 68 with 1,340,000?

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 $1,340,000?

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$110,656$109,670$108,709$107,770$106,853$104,997
2 years$54,780$53,760$52,771$51,813$50,883$49,018
3 years$36,157$35,133$34,146$33,197$32,282$30,468
4 years$26,848$25,826$24,850$23,916$23,024$21,274
5 years$21,263$20,248$19,285$18,370$17,502$15,821
6 years$17,542$16,534$15,585$14,691$13,849$12,239
7 years$14,885$13,885$12,951$12,078$11,263$9,725
8 years$12,893$11,902$10,983$10,132$9,344$7,877
9 years$11,344$10,363$9,460$8,630$7,869$6,472
10 years$10,106$9,135$8,248$7,439$6,705$5,377
11 years$9,093$8,132$7,261$6,474$5,766$4,506
12 years$8,250$7,299$6,444$5,679$4,997$3,803
13 years$7,538$6,596$5,757$5,014$4,357$3,228
14 years$6,927$5,996$5,173$4,451$3,820$2,752
15 years$6,399$5,477$4,670$3,969$3,363$2,356
16 years$5,937$5,025$4,234$3,554$2,972$2,023
17 years$5,529$4,628$3,853$3,193$2,635$1,742
18 years$5,168$4,276$3,517$2,878$2,343$1,504
19 years$4,845$3,963$3,220$2,600$2,089$1,301
20 years$4,554$3,683$2,955$2,355$1,866$1,127
21 years$4,292$3,430$2,718$2,137$1,670$977
22 years$4,053$3,202$2,505$1,943$1,496$849
23 years$3,836$2,995$2,313$1,770$1,343$738
24 years$3,637$2,806$2,139$1,614$1,207$642
25 years$3,455$2,633$1,981$1,474$1,086$560
26 years$3,286$2,475$1,838$1,348$979$488
27 years$3,131$2,329$1,706$1,234$882$425
28 years$2,987$2,195$1,586$1,130$796$371
29 years$2,853$2,071$1,476$1,037$719$324
30 years$2,728$1,955$1,375$951$650$283
31 years$2,611$1,849$1,282$874$587$247
32 years$2,502$1,749$1,196$803$531$216
33 years$2,400$1,656$1,117$738$481$189
34 years$2,304$1,570$1,043$679$435$165
35 years$2,213$1,489$976$625$394$144
36 years$2,128$1,413$913$576$357$126
37 years$2,048$1,342$854$531$324$110
38 years$1,972$1,276$800$489$294$97
39 years$1,900$1,213$749$451$266$85
40 years$1,832$1,154$702$416$241$74
41 years$1,767$1,099$659$384$219$65
42 years$1,706$1,046$618$354$199$57
43 years$1,648$997$580$327$180$50
44 years$1,592$950$544$302$164$43
45 years$1,539$906$511$279$149$38
46 years$1,489$864$480$258$135$33
47 years$1,441$825$451$238$123$29
48 years$1,394$788$424$220$111$25
49 years$1,350$752$398$203$101$22
50 years$1,308$718$374$188$92$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $1,340,000, adding $6,869 every year, while hoping to spend $47,279 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: 73/14/13 Blend
67$1,340,000$1,340,000$1,340,000$1,340,000
68$1,483,765$1,412,745$1,391,975$1,587,517
69$1,584,805$1,431,665$1,388,302$1,676,002
70$1,694,566$1,449,928$1,382,921$1,766,395
71$1,813,888$1,467,451$1,375,725$1,864,131
72$1,943,695$1,484,146$1,366,603$1,969,927
73$2,085,003$1,499,921$1,355,435$2,084,569
74$2,238,931$1,514,674$1,342,100$2,208,926
75$2,406,709$1,528,300$1,326,467$2,343,956
76$2,589,692$1,540,686$1,308,402$2,490,714
77$2,789,370$1,551,709$1,287,763$2,650,361
78$3,007,384$1,561,241$1,264,402$2,824,181
79$3,245,542$1,569,146$1,238,163$3,013,584
80$3,505,830$1,575,277$1,208,885$3,220,127
81$3,790,439$1,579,480$1,176,397$3,445,527
82$4,101,779$1,581,590$1,140,521$3,691,674
83$4,442,504$1,581,432$1,101,073$3,960,654
84$4,815,538$1,578,820$1,057,856$4,254,764
85$5,224,097$1,573,556$1,010,669$4,576,537
86$5,671,726$1,565,432$959,298$4,928,765
87$6,162,330$1,554,225$903,522$5,314,526
88$6,700,205$1,539,700$843,107$5,737,212
89$7,290,087$1,521,607$777,813$6,200,564
90$7,937,191$1,499,680$707,384$6,708,703
91$8,647,260$1,473,640$631,557$7,266,173
92$9,426,621$1,443,189$550,055$7,877,984
93$10,282,243$1,408,012$462,588$8,549,657
94$11,221,803$1,367,776$368,856$9,287,279
95$12,253,757$1,322,127$268,543$10,097,558
96$13,387,422$1,270,693$161,321$10,987,890
97$14,633,059$1,213,077$46,846$11,966,428
98$16,001,975$1,148,862$0$13,042,156
99$17,506,626$1,077,605$0$14,235,428
100$19,160,733$998,839$0$15,554,328