Can I retire at age 68 with 961,000?

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 $961,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$79,358$78,652$77,962$77,289$76,631$74,507
2 years$39,286$38,555$37,846$37,158$36,491$34,367
3 years$25,931$25,196$24,489$23,808$23,152$21,094
4 years$19,254$18,522$17,821$17,152$16,512$14,536
5 years$15,249$14,521$13,830$13,174$12,552$10,664
6 years$12,580$11,858$11,177$10,536$9,932$8,134
7 years$10,675$9,958$9,288$8,662$8,077$6,368
8 years$9,246$8,536$7,877$7,266$6,701$5,081
9 years$8,135$7,432$6,784$6,189$5,643$4,110
10 years$7,248$6,551$5,915$5,335$4,808$3,360
11 years$6,522$5,832$5,207$4,643$4,135$2,770
12 years$5,917$5,234$4,621$4,073$3,584$2,298
13 years$5,406$4,730$4,129$3,596$3,125$1,917
14 years$4,968$4,300$3,710$3,192$2,739$1,606
15 years$4,589$3,928$3,349$2,847$2,412$1,350
16 years$4,258$3,604$3,037$2,549$2,132$1,138
17 years$3,966$3,319$2,763$2,290$1,890$962
18 years$3,706$3,067$2,523$2,064$1,681$815
19 years$3,474$2,842$2,309$1,865$1,498$691
20 years$3,266$2,641$2,119$1,689$1,338$587
21 years$3,078$2,460$1,949$1,533$1,197$499
22 years$2,907$2,297$1,797$1,394$1,073$425
23 years$2,751$2,148$1,659$1,269$963$362
24 years$2,609$2,012$1,534$1,158$866$309
25 years$2,478$1,889$1,421$1,057$779$263
26 years$2,357$1,775$1,318$967$702$225
27 years$2,245$1,670$1,224$885$633$192
28 years$2,142$1,574$1,138$811$571$164
29 years$2,046$1,485$1,059$743$516$140
30 years$1,956$1,402$986$682$466$120
31 years$1,873$1,326$919$627$421$102
32 years$1,794$1,254$858$576$381$88
33 years$1,721$1,188$801$530$345$75
34 years$1,652$1,126$748$487$312$64
35 years$1,587$1,068$700$449$283$55
36 years$1,526$1,014$654$413$256$47
37 years$1,469$963$613$381$232$40
38 years$1,414$915$574$351$211$34
39 years$1,363$870$537$323$191$29
40 years$1,314$828$504$298$173$25
41 years$1,268$788$472$275$157$22
42 years$1,223$750$443$254$143$18
43 years$1,182$715$416$235$129$16
44 years$1,142$681$390$217$117$14
45 years$1,104$650$366$200$107$12
46 years$1,068$620$344$185$97$10
47 years$1,033$592$323$171$88$8
48 years$1,000$565$304$158$80$7
49 years$968$539$286$146$72$6
50 years$938$515$269$135$66$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $961,000, adding $6,561 every year, while hoping to spend $59,632 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: 89/6/5 Blend
67$961,000$961,000$961,000$961,000
68$1,065,790$1,014,857$999,961$1,160,208
69$1,111,052$1,001,137$970,012$1,208,887
70$1,158,933$984,746$937,061$1,253,304
71$1,209,636$965,490$900,944$1,300,151
72$1,263,384$943,164$861,491$1,349,625
73$1,320,421$917,551$818,523$1,401,943
74$1,381,013$888,421$771,853$1,457,341
75$1,445,452$855,529$721,285$1,516,080
76$1,514,056$818,618$666,616$1,578,447
77$1,587,175$777,415$607,633$1,644,756
78$1,665,190$731,631$544,112$1,715,352
79$1,748,521$680,963$475,821$1,790,615
80$1,837,626$625,086$402,516$1,870,963
81$1,933,008$563,660$323,946$1,956,854
82$2,035,220$496,324$239,843$2,048,794
83$2,144,866$422,698$149,931$2,147,338
84$2,262,611$342,378$53,923$2,253,098
85$2,389,184$254,941$0$2,366,746
86$2,525,384$159,937$0$2,491,612
87$2,672,091$56,891$0$2,629,161
88$2,830,268$0$0$2,777,428
89$3,000,977$0$0$2,941,031
90$3,185,382$0$0$3,121,820
91$3,384,763$0$0$3,317,295
92$3,600,527$0$0$3,528,836
93$3,834,219$0$0$3,757,959
94$4,087,542$0$0$4,006,331
95$4,362,363$0$0$4,275,787
96$4,660,740$0$0$4,568,343
97$4,984,934$0$0$4,886,217
98$5,337,433$0$0$5,231,850
99$5,720,973$0$0$5,607,924
100$6,138,568$0$0$6,017,395