Can I retire at age 68 with 1,500,000?

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 $1,500,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$123,869$122,765$121,689$120,638$119,612$117,971
2 years$61,321$60,179$59,072$57,999$56,958$55,307
3 years$40,475$39,328$38,224$37,161$36,137$34,528
4 years$30,053$28,910$27,817$26,772$25,773$24,218
5 years$23,802$22,666$21,587$20,564$19,592$18,097
6 years$19,636$18,508$17,446$16,445$15,503$14,068
7 years$16,662$15,543$14,497$13,520$12,608$11,234
8 years$14,432$13,323$12,295$11,342$10,459$9,146
9 years$12,698$11,600$10,590$9,661$8,808$7,556
10 years$11,312$10,225$9,232$8,328$7,505$6,312
11 years$10,179$9,103$8,128$7,247$6,455$5,320
12 years$9,236$8,170$7,213$6,357$5,593$4,516
13 years$8,438$7,384$6,445$5,612$4,878$3,855
14 years$7,754$6,711$5,791$4,982$4,276$3,307
15 years$7,163$6,131$5,228$4,443$3,765$2,849
16 years$6,646$5,625$4,740$3,978$3,327$2,462
17 years$6,190$5,181$4,313$3,574$2,950$2,133
18 years$5,785$4,787$3,937$3,221$2,623$1,853
19 years$5,423$4,437$3,605$2,911$2,338$1,613
20 years$5,098$4,123$3,308$2,636$2,088$1,407
21 years$4,804$3,840$3,043$2,393$1,869$1,229
22 years$4,537$3,585$2,804$2,175$1,675$1,075
23 years$4,294$3,353$2,589$1,981$1,504$941
24 years$4,072$3,141$2,395$1,807$1,352$825
25 years$3,867$2,948$2,218$1,650$1,216$724
26 years$3,679$2,770$2,057$1,509$1,096$635
27 years$3,505$2,607$1,910$1,381$988$558
28 years$3,343$2,457$1,776$1,265$891$490
29 years$3,193$2,318$1,652$1,160$805$431
30 years$3,053$2,189$1,539$1,065$727$379
31 years$2,923$2,069$1,435$978$657$334
32 years$2,801$1,958$1,339$899$595$294
33 years$2,686$1,854$1,250$827$538$259
34 years$2,579$1,757$1,168$761$487$228
35 years$2,478$1,667$1,092$700$441$201
36 years$2,382$1,582$1,022$645$400$177
37 years$2,292$1,503$956$594$362$156
38 years$2,207$1,428$895$548$329$138
39 years$2,127$1,358$839$505$298$121
40 years$2,051$1,292$786$466$270$107
41 years$1,978$1,230$737$430$245$94
42 years$1,910$1,171$692$397$222$83
43 years$1,844$1,116$649$366$202$73
44 years$1,782$1,064$609$338$183$65
45 years$1,723$1,014$572$312$166$57
46 years$1,666$968$537$288$151$50
47 years$1,613$923$505$266$137$44
48 years$1,561$882$474$246$125$39
49 years$1,512$842$446$227$113$35
50 years$1,465$804$419$210$103$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $1,500,000, adding $6,655 every year, while hoping to spend $56,377 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: 46/49/5 Blend
67$1,500,000$1,500,000$1,500,000$1,500,000
68$1,659,865$1,580,365$1,557,115$1,733,707
69$1,769,186$1,597,818$1,549,293$1,802,545
70$1,887,769$1,614,237$1,539,320$1,870,718
71$2,016,498$1,629,511$1,527,064$1,943,333
72$2,156,347$1,643,523$1,512,387$2,020,815
73$2,308,387$1,656,149$1,495,145$2,103,637
74$2,473,796$1,667,253$1,475,186$2,192,318
75$2,653,870$1,676,696$1,452,351$2,287,435
76$2,850,036$1,684,325$1,426,476$2,389,625
77$3,063,863$1,689,980$1,397,387$2,499,592
78$3,297,079$1,693,491$1,364,901$2,618,115
79$3,551,585$1,694,676$1,328,829$2,746,056
80$3,829,474$1,693,342$1,288,972$2,884,365
81$4,133,050$1,689,286$1,245,122$3,034,096
82$4,464,849$1,682,289$1,197,062$3,196,411
83$4,827,664$1,672,121$1,144,564$3,372,595
84$5,224,569$1,658,539$1,087,390$3,564,070
85$5,658,950$1,641,282$1,025,292$3,772,405
86$6,134,534$1,620,075$958,010$3,999,337
87$6,655,426$1,594,629$885,273$4,246,781
88$7,226,147$1,564,633$806,798$4,516,858
89$7,851,675$1,529,762$722,287$4,811,907
90$8,537,494$1,489,668$631,431$5,134,513
91$9,289,642$1,443,986$533,908$5,487,535
92$10,114,771$1,392,326$429,380$5,874,126
93$11,020,208$1,334,280$317,493$6,297,771
94$12,014,021$1,269,411$197,881$6,762,320
95$13,105,100$1,197,262$70,160$7,272,022
96$14,303,237$1,117,345$0$7,831,571
97$15,619,219$1,029,146$0$8,449,678
98$17,064,928$932,123$0$9,132,760
99$18,653,455$825,702$0$9,883,412
100$20,399,221$709,274$0$10,708,631