Can I retire at age 68 with 948,000?

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 $948,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$78,285$77,588$76,907$76,243$75,595$74,712
2 years$38,755$38,033$37,334$36,655$35,998$35,109
3 years$25,580$24,855$24,157$23,485$22,838$21,972
4 years$18,994$18,271$17,580$16,920$16,288$15,450
5 years$15,043$14,325$13,643$12,996$12,382$11,575
6 years$12,410$11,697$11,026$10,393$9,798$9,022
7 years$10,530$9,823$9,162$8,545$7,968$7,225
8 years$9,121$8,420$7,770$7,168$6,610$5,899
9 years$8,025$7,331$6,693$6,106$5,567$4,888
10 years$7,149$6,462$5,835$5,263$4,743$4,096
11 years$6,433$5,753$5,137$4,580$4,079$3,463
12 years$5,837$5,164$4,559$4,018$3,535$2,949
13 years$5,333$4,666$4,073$3,547$3,083$2,526
14 years$4,901$4,242$3,660$3,149$2,702$2,174
15 years$4,527$3,875$3,304$2,808$2,379$1,879
16 years$4,200$3,555$2,996$2,514$2,103$1,629
17 years$3,912$3,274$2,726$2,259$1,864$1,417
18 years$3,656$3,025$2,488$2,036$1,658$1,235
19 years$3,427$2,804$2,278$1,840$1,478$1,079
20 years$3,222$2,606$2,091$1,666$1,320$945
21 years$3,036$2,427$1,923$1,512$1,181$828
22 years$2,868$2,265$1,772$1,375$1,059$727
23 years$2,714$2,119$1,636$1,252$950$639
24 years$2,573$1,985$1,513$1,142$854$562
25 years$2,444$1,863$1,402$1,043$769$495
26 years$2,325$1,751$1,300$954$692$436
27 years$2,215$1,648$1,207$873$624$385
28 years$2,113$1,553$1,122$800$563$340
29 years$2,018$1,465$1,044$733$509$300
30 years$1,930$1,383$973$673$460$265
31 years$1,847$1,308$907$618$415$234
32 years$1,770$1,237$846$568$376$207
33 years$1,698$1,172$790$522$340$183
34 years$1,630$1,111$738$481$308$162
35 years$1,566$1,053$690$442$279$143
36 years$1,506$1,000$646$407$253$127
37 years$1,449$950$604$375$229$112
38 years$1,395$902$566$346$208$99
39 years$1,344$858$530$319$188$88
40 years$1,296$816$497$294$171$78
41 years$1,250$777$466$272$155$69
42 years$1,207$740$437$251$141$61
43 years$1,166$705$410$231$128$54
44 years$1,126$672$385$214$116$48
45 years$1,089$641$362$197$105$43
46 years$1,053$612$340$182$95$38
47 years$1,019$584$319$168$87$33
48 years$987$557$300$156$79$30
49 years$955$532$282$144$72$26
50 years$926$508$265$133$65$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $948,000, adding $5,618 every year, while hoping to spend $26,076 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: 41/49/10 Blend
67$948,000$948,000$948,000$948,000
68$1,050,491$1,000,247$985,553$1,090,226
69$1,129,896$1,021,514$990,824$1,139,899
70$1,216,527$1,042,950$995,398$1,190,592
71$1,311,093$1,064,534$999,224$1,244,871
72$1,414,374$1,086,247$1,002,248$1,303,073
73$1,527,231$1,108,064$1,004,414$1,365,569
74$1,650,610$1,129,960$1,005,664$1,432,766
75$1,785,554$1,151,909$1,005,934$1,505,117
76$1,933,208$1,173,881$1,005,161$1,583,117
77$2,094,838$1,195,843$1,003,276$1,667,314
78$2,271,834$1,217,762$1,000,208$1,758,311
79$2,465,727$1,239,599$995,882$1,856,773
80$2,678,207$1,261,315$990,220$1,963,435
81$2,911,130$1,282,865$983,138$2,079,104
82$3,166,543$1,304,203$974,551$2,204,673
83$3,446,700$1,325,279$964,368$2,341,125
84$3,754,084$1,346,039$952,495$2,489,544
85$4,091,430$1,366,424$938,833$2,651,126
86$4,461,750$1,386,372$923,278$2,827,190
87$4,868,361$1,405,817$905,720$3,019,188
88$5,314,920$1,424,688$886,048$3,228,724
89$5,805,452$1,442,908$864,140$3,457,566
90$6,344,393$1,460,395$839,874$3,707,664
91$6,936,630$1,477,064$813,119$3,981,167
92$7,587,546$1,492,819$783,738$4,280,445
93$8,303,072$1,507,564$751,589$4,608,114
94$9,089,741$1,521,191$716,524$4,967,055
95$9,954,754$1,533,588$678,387$5,360,447
96$10,906,040$1,544,635$637,014$5,791,795
97$11,952,338$1,554,205$592,236$6,264,964
98$13,103,277$1,562,160$543,876$6,784,216
99$14,369,462$1,568,357$491,747$7,354,250
100$15,762,582$1,572,642$435,655$7,980,249