Can I retire at age 68 with 1,600,000?

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 $1,600,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.8%
1 years$132,127$130,950$129,801$128,681$127,586$123,059
2 years$65,409$64,191$63,010$61,866$60,755$56,243
3 years$43,173$41,950$40,772$39,638$38,546$34,189
4 years$32,057$30,837$29,671$28,557$27,491$23,324
5 years$25,389$24,177$23,026$21,934$20,898$16,932
6 years$20,945$19,742$18,609$17,541$16,536$12,773
7 years$17,773$16,579$15,464$14,422$13,448$9,888
8 years$15,394$14,212$13,115$12,098$11,157$7,796
9 years$13,545$12,374$11,296$10,305$9,396$6,230
10 years$12,067$10,907$9,848$8,883$8,005$5,030
11 years$10,858$9,710$8,670$7,731$6,885$4,093
12 years$9,851$8,715$7,694$6,781$5,966$3,351
13 years$9,000$7,876$6,874$5,986$5,203$2,758
14 years$8,271$7,159$6,177$5,314$4,561$2,278
15 years$7,640$6,540$5,577$4,739$4,016$1,888
16 years$7,089$6,000$5,056$4,243$3,549$1,569
17 years$6,602$5,526$4,601$3,813$3,147$1,307
18 years$6,171$5,106$4,200$3,436$2,798$1,090
19 years$5,785$4,732$3,845$3,105$2,494$911
20 years$5,438$4,398$3,529$2,812$2,228$762
21 years$5,124$4,096$3,246$2,552$1,993$638
22 years$4,840$3,824$2,991$2,320$1,787$535
23 years$4,581$3,576$2,762$2,113$1,604$449
24 years$4,343$3,351$2,554$1,927$1,442$376
25 years$4,125$3,144$2,366$1,760$1,297$316
26 years$3,924$2,955$2,194$1,609$1,169$265
27 years$3,738$2,781$2,038$1,473$1,054$223
28 years$3,566$2,621$1,894$1,350$951$187
29 years$3,406$2,472$1,763$1,238$858$158
30 years$3,257$2,335$1,642$1,136$776$133
31 years$3,118$2,207$1,531$1,043$701$111
32 years$2,987$2,088$1,428$959$634$94
33 years$2,865$1,978$1,333$882$574$79
34 years$2,751$1,875$1,246$811$520$66
35 years$2,643$1,778$1,165$747$471$56
36 years$2,541$1,688$1,090$688$427$47
37 years$2,445$1,603$1,020$634$387$40
38 years$2,355$1,523$955$584$350$33
39 years$2,269$1,448$895$539$318$28
40 years$2,187$1,378$839$497$288$24
41 years$2,110$1,312$786$458$262$20
42 years$2,037$1,249$738$423$237$17
43 years$1,967$1,190$692$390$215$14
44 years$1,901$1,135$650$361$195$12
45 years$1,838$1,082$610$333$177$10
46 years$1,778$1,032$573$308$161$8
47 years$1,720$985$538$284$146$7
48 years$1,665$940$506$263$133$6
49 years$1,612$898$476$243$121$5
50 years$1,562$858$447$224$110$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $1,600,000, adding $5,069 every year, while hoping to spend $46,650 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: 63/13/24 Blend
67$1,600,000$1,600,000$1,600,000$1,600,000
68$1,768,429$1,683,629$1,658,829$1,868,390
69$1,899,173$1,716,491$1,664,764$1,969,431
70$2,041,690$1,749,401$1,669,335$2,074,119
71$2,197,131$1,782,310$1,672,446$2,187,422
72$2,366,763$1,815,168$1,673,998$2,310,188
73$2,551,982$1,847,920$1,673,886$2,443,351
74$2,754,323$1,880,507$1,672,000$2,587,944
75$2,975,477$1,912,865$1,668,225$2,745,102
76$3,217,306$1,944,925$1,662,441$2,916,080
77$3,481,858$1,976,614$1,654,520$3,102,257
78$3,771,391$2,007,851$1,644,330$3,305,158
79$4,088,390$2,038,553$1,631,731$3,526,462
80$4,435,590$2,068,626$1,616,579$3,768,020
81$4,816,006$2,097,974$1,598,720$4,031,873
82$5,232,955$2,126,492$1,577,994$4,320,271
83$5,690,094$2,154,067$1,554,233$4,635,694
84$6,191,446$2,180,580$1,527,263$4,980,879
85$6,741,448$2,205,902$1,496,900$5,358,841
86$7,344,981$2,229,897$1,462,952$5,772,904
87$8,007,426$2,252,418$1,425,218$6,226,733
88$8,734,707$2,273,311$1,383,487$6,724,368
89$9,533,353$2,292,409$1,337,539$7,270,266
90$10,410,554$2,309,535$1,287,145$7,869,335
91$11,374,230$2,324,502$1,232,064$8,526,992
92$12,433,107$2,337,109$1,172,045$9,249,203
93$13,596,800$2,347,143$1,106,824$10,042,550
94$14,875,898$2,354,377$1,036,127$10,914,287
95$16,282,069$2,358,571$959,666$11,872,409
96$17,828,167$2,359,468$877,143$12,925,732
97$19,528,355$2,356,798$788,242$14,083,974
98$21,398,237$2,350,270$692,638$15,357,847
99$23,455,003$2,339,579$589,987$16,759,160
100$25,717,595$2,324,400$479,933$18,300,931