Can I retire at age 68 with 1,560,000?

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 $1,560,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$128,823$127,676$126,556$125,464$124,397$123,303
2 years$63,774$62,586$61,435$60,319$59,236$58,134
3 years$42,094$40,901$39,753$38,647$37,582$36,506
4 years$31,256$30,066$28,930$27,843$26,804$25,761
5 years$24,754$23,572$22,451$21,386$20,376$19,371
6 years$20,422$19,249$18,143$17,103$16,123$15,156
7 years$17,328$16,165$15,077$14,061$13,112$12,184
8 years$15,009$13,856$12,787$11,795$10,878$9,988
9 years$13,206$12,064$11,013$10,047$9,161$8,310
10 years$11,765$10,634$9,602$8,661$7,805$6,992
11 years$10,586$9,467$8,453$7,537$6,713$5,937
12 years$9,605$8,497$7,502$6,611$5,817$5,078
13 years$8,775$7,679$6,702$5,837$5,073$4,370
14 years$8,065$6,980$6,022$5,181$4,447$3,779
15 years$7,449$6,376$5,437$4,621$3,915$3,281
16 years$6,911$5,850$4,930$4,137$3,460$2,859
17 years$6,437$5,388$4,486$3,717$3,068$2,499
18 years$6,016$4,979$4,095$3,350$2,728$2,189
19 years$5,640$4,614$3,749$3,027$2,432$1,923
20 years$5,302$4,288$3,440$2,742$2,172$1,692
21 years$4,996$3,994$3,164$2,488$1,944$1,491
22 years$4,719$3,728$2,917$2,262$1,742$1,316
23 years$4,466$3,487$2,693$2,060$1,564$1,163
24 years$4,235$3,267$2,491$1,879$1,406$1,028
25 years$4,022$3,066$2,307$1,716$1,265$911
26 years$3,826$2,881$2,139$1,569$1,139$807
27 years$3,645$2,712$1,987$1,436$1,027$716
28 years$3,477$2,555$1,847$1,316$927$635
29 years$3,321$2,411$1,719$1,207$837$564
30 years$3,175$2,276$1,601$1,108$756$501
31 years$3,040$2,152$1,492$1,017$684$445
32 years$2,913$2,036$1,392$935$618$396
33 years$2,794$1,928$1,300$860$560$352
34 years$2,682$1,828$1,215$791$507$313
35 years$2,577$1,733$1,136$728$459$279
36 years$2,478$1,645$1,062$671$416$248
37 years$2,384$1,563$994$618$377$221
38 years$2,296$1,485$931$569$342$197
39 years$2,212$1,412$872$525$310$175
40 years$2,133$1,344$818$484$281$156
41 years$2,058$1,279$767$447$255$139
42 years$1,986$1,218$719$412$231$124
43 years$1,918$1,161$675$381$210$111
44 years$1,854$1,106$634$351$191$99
45 years$1,792$1,055$595$325$173$88
46 years$1,733$1,006$559$300$157$78
47 years$1,677$960$525$277$143$70
48 years$1,623$917$493$256$130$62
49 years$1,572$875$464$237$118$56
50 years$1,523$836$436$219$107$50

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $1,560,000, adding $5,854 every year, while hoping to spend $58,995 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: 76/11/13 Blend
67$1,560,000$1,560,000$1,560,000$1,560,000
68$1,725,158$1,642,478$1,618,298$1,851,280
69$1,838,354$1,660,190$1,609,741$1,952,982
70$1,961,119$1,676,791$1,598,920$2,056,434
71$2,094,366$1,692,167$1,585,697$2,168,207
72$2,239,101$1,706,193$1,569,927$2,289,108
73$2,396,428$1,718,735$1,551,458$2,420,029
74$2,567,564$1,729,654$1,530,133$2,561,949
75$2,753,848$1,738,799$1,505,784$2,715,950
76$2,956,750$1,746,010$1,478,238$2,883,224
77$3,177,892$1,751,118$1,447,313$3,065,084
78$3,419,057$1,753,942$1,412,817$3,262,976
79$3,682,206$1,754,291$1,374,552$3,478,496
80$3,969,500$1,751,960$1,332,308$3,713,401
81$4,283,317$1,746,734$1,285,869$3,969,630
82$4,626,275$1,738,383$1,235,005$4,249,317
83$5,001,255$1,726,664$1,179,478$4,554,816
84$5,411,431$1,711,319$1,119,038$4,888,721
85$5,860,296$1,692,073$1,053,425$5,253,894
86$6,351,698$1,668,636$982,367$5,653,485
87$6,889,873$1,640,701$905,578$6,090,969
88$7,479,486$1,607,942$822,761$6,570,176
89$8,125,676$1,570,013$733,605$7,095,329
90$8,834,100$1,526,548$637,786$7,671,080
91$9,610,991$1,477,162$534,965$8,302,559
92$10,463,213$1,421,444$424,787$8,995,421
93$11,398,327$1,358,960$306,883$9,755,899
94$12,424,659$1,289,253$180,867$10,590,862
95$13,551,385$1,211,837$46,337$11,507,884
96$14,788,608$1,126,198$0$12,515,312
97$16,147,459$1,031,796$0$13,635,835
98$17,640,202$928,055$0$14,873,844
99$19,280,344$814,371$0$16,234,149
100$21,082,766$690,103$0$17,729,139