Can I retire at age 68 with 950,000?

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 $950,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.7%
1 years$78,450$77,751$77,070$76,404$75,754$74,901
2 years$38,837$38,113$37,412$36,733$36,073$35,214
3 years$25,634$24,908$24,208$23,535$22,887$22,048
4 years$19,034$18,310$17,617$16,956$16,323$15,512
5 years$15,075$14,355$13,672$13,024$12,408$11,627
6 years$12,436$11,722$11,049$10,415$9,818$9,068
7 years$10,552$9,844$9,182$8,563$7,985$7,266
8 years$9,140$8,438$7,787$7,183$6,624$5,936
9 years$8,042$7,347$6,707$6,118$5,579$4,921
10 years$7,165$6,476$5,847$5,274$4,753$4,126
11 years$6,447$5,765$5,148$4,590$4,088$3,490
12 years$5,849$5,175$4,568$4,026$3,543$2,974
13 years$5,344$4,676$4,082$3,554$3,089$2,549
14 years$4,911$4,251$3,667$3,155$2,708$2,196
15 years$4,536$3,883$3,311$2,814$2,384$1,899
16 years$4,209$3,563$3,002$2,520$2,107$1,648
17 years$3,920$3,281$2,732$2,264$1,868$1,434
18 years$3,664$3,032$2,494$2,040$1,661$1,251
19 years$3,435$2,810$2,283$1,843$1,481$1,094
20 years$3,229$2,611$2,095$1,670$1,323$958
21 years$3,043$2,432$1,927$1,515$1,184$841
22 years$2,874$2,270$1,776$1,378$1,061$739
23 years$2,720$2,123$1,640$1,255$952$650
24 years$2,579$1,989$1,517$1,144$856$572
25 years$2,449$1,867$1,405$1,045$770$504
26 years$2,330$1,755$1,303$956$694$445
27 years$2,220$1,651$1,210$875$626$393
28 years$2,117$1,556$1,125$801$564$347
29 years$2,022$1,468$1,047$735$510$306
30 years$1,934$1,386$975$674$461$271
31 years$1,851$1,311$909$619$416$240
32 years$1,774$1,240$848$569$377$212
33 years$1,701$1,174$792$523$341$188
34 years$1,633$1,113$740$482$309$166
35 years$1,569$1,056$692$443$280$147
36 years$1,509$1,002$647$408$253$130
37 years$1,452$952$606$376$230$115
38 years$1,398$904$567$347$208$102
39 years$1,347$860$531$320$189$91
40 years$1,299$818$498$295$171$80
41 years$1,253$779$467$272$155$71
42 years$1,209$742$438$251$141$63
43 years$1,168$707$411$232$128$56
44 years$1,129$674$386$214$116$50
45 years$1,091$642$362$198$105$44
46 years$1,055$613$340$183$96$39
47 years$1,021$585$320$169$87$35
48 years$989$558$300$156$79$31
49 years$957$533$282$144$72$27
50 years$928$509$265$133$65$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $950,000, adding $6,753 every year, while hoping to spend $49,784 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: 36/46/18 Blend
67$950,000$950,000$950,000$950,000
68$1,053,866$1,003,516$988,791$1,085,816
69$1,108,390$999,718$968,945$1,105,836
70$1,166,808$994,066$946,767$1,122,267
71$1,229,463$986,416$922,124$1,138,960
72$1,296,733$976,615$894,880$1,155,966
73$1,369,034$964,504$864,893$1,173,346
74$1,446,820$949,909$832,012$1,191,169
75$1,530,593$932,652$796,081$1,209,519
76$1,620,900$912,538$756,936$1,228,489
77$1,718,345$889,366$714,407$1,248,190
78$1,823,592$862,921$668,315$1,268,748
79$1,937,368$832,973$618,473$1,290,306
80$2,060,474$799,283$564,687$1,313,030
81$2,193,789$761,595$506,751$1,337,109
82$2,338,282$719,640$444,453$1,362,756
83$2,495,016$673,132$377,572$1,390,214
84$2,665,161$621,769$305,874$1,419,760
85$2,850,005$565,232$229,118$1,451,704
86$3,050,961$503,184$147,049$1,486,399
87$3,269,588$435,270$59,404$1,524,241
88$3,507,599$361,111$0$1,565,677
89$3,766,880$280,311$0$1,617,765
90$4,049,504$192,448$0$1,687,117
91$4,357,756$97,081$0$1,763,001
92$4,694,148$0$0$1,846,190
93$5,061,448$0$0$1,940,709
94$5,462,699$0$0$2,097,775
95$5,901,255$0$0$2,269,573
96$6,380,807$0$0$2,457,567
97$6,905,418$0$0$2,663,365
98$7,479,563$0$0$2,888,741
99$8,108,170$0$0$3,135,647
100$8,796,663$0$0$3,406,234