Can I retire at age 68 with 890,000?

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 $890,000?

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$73,495$72,841$72,202$71,579$70,970$69,737
2 years$36,384$35,706$35,050$34,413$33,795$32,557
3 years$24,015$23,334$22,679$22,049$21,441$20,236
4 years$17,832$17,153$16,505$15,885$15,292$14,130
5 years$14,123$13,448$12,808$12,201$11,625$10,508
6 years$11,651$10,982$10,351$9,757$9,198$8,129
7 years$9,886$9,222$8,602$8,022$7,481$6,459
8 years$8,563$7,905$7,295$6,729$6,206$5,232
9 years$7,534$6,883$6,283$5,732$5,226$4,299
10 years$6,712$6,067$5,478$4,941$4,453$3,571
11 years$6,040$5,401$4,823$4,300$3,830$2,993
12 years$5,480$4,848$4,280$3,772$3,319$2,526
13 years$5,006$4,381$3,824$3,330$2,894$2,144
14 years$4,601$3,982$3,436$2,956$2,537$1,828
15 years$4,250$3,638$3,102$2,636$2,234$1,565
16 years$3,943$3,338$2,812$2,360$1,974$1,344
17 years$3,673$3,074$2,559$2,121$1,750$1,157
18 years$3,432$2,840$2,336$1,911$1,556$999
19 years$3,218$2,632$2,139$1,727$1,387$864
20 years$3,025$2,446$1,963$1,564$1,239$748
21 years$2,851$2,278$1,805$1,420$1,109$649
22 years$2,692$2,127$1,664$1,291$994$564
23 years$2,548$1,989$1,536$1,175$892$490
24 years$2,416$1,864$1,421$1,072$802$427
25 years$2,295$1,749$1,316$979$722$372
26 years$2,183$1,644$1,221$895$650$324
27 years$2,079$1,547$1,133$819$586$282
28 years$1,984$1,458$1,054$751$529$246
29 years$1,895$1,375$980$688$477$215
30 years$1,812$1,299$913$632$431$188
31 years$1,734$1,228$851$580$390$164
32 years$1,662$1,162$794$533$353$143
33 years$1,594$1,100$742$490$319$125
34 years$1,530$1,043$693$451$289$110
35 years$1,470$989$648$415$262$96
36 years$1,414$939$606$383$237$84
37 years$1,360$892$567$352$215$73
38 years$1,310$847$531$325$195$64
39 years$1,262$806$498$300$177$56
40 years$1,217$767$467$276$160$49
41 years$1,174$730$437$255$145$43
42 years$1,133$695$410$235$132$38
43 years$1,094$662$385$217$120$33
44 years$1,057$631$361$201$109$29
45 years$1,022$602$339$185$99$25
46 years$989$574$319$171$90$22
47 years$957$548$299$158$81$19
48 years$926$523$281$146$74$17
49 years$897$499$265$135$67$15
50 years$869$477$249$125$61$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $890,000, adding $2,809 every year, while hoping to spend $44,439 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: 42/41/17 Blend
67$890,000$890,000$890,000$890,000
68$983,677$936,507$922,712$1,019,985
69$1,036,730$935,114$906,341$1,044,507
70$1,093,704$932,162$887,931$1,066,476
71$1,154,953$927,529$867,368$1,089,324
72$1,220,866$921,085$844,532$1,113,156
73$1,291,866$912,691$819,296$1,138,086
74$1,368,422$902,198$791,528$1,164,244
75$1,451,048$889,453$761,091$1,191,776
76$1,540,308$874,289$727,840$1,220,848
77$1,636,822$856,531$691,625$1,251,646
78$1,741,271$835,995$652,288$1,284,376
79$1,854,405$812,483$609,664$1,319,273
80$1,977,048$785,788$563,581$1,356,599
81$2,110,105$755,690$513,860$1,396,646
82$2,254,573$721,957$460,312$1,439,744
83$2,411,548$684,341$402,741$1,486,258
84$2,582,235$642,583$340,942$1,536,599
85$2,767,961$596,407$274,701$1,591,225
86$2,970,184$545,523$203,795$1,650,647
87$3,190,511$489,621$127,990$1,715,435
88$3,430,708$428,377$47,043$1,786,224
89$3,692,721$361,448$0$1,863,722
90$3,978,689$288,469$0$1,955,854
91$4,290,969$209,058$0$2,065,930
92$4,632,155$122,809$0$2,186,434
93$5,005,102$29,295$0$2,318,504
94$5,412,955$0$0$2,463,400
95$5,859,175$0$0$2,654,974
96$6,347,573$0$0$2,879,233
97$6,882,347$0$0$3,124,899
98$7,468,118$0$0$3,394,111
99$8,109,977$0$0$3,689,222
100$8,813,529$0$0$4,012,826