Can I retire at age 68 with 962,000?

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 $962,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$79,441$78,733$78,043$77,369$76,711$75,973
2 years$39,327$38,595$37,885$37,197$36,529$35,786
3 years$25,958$25,222$24,514$23,832$23,176$22,450
4 years$19,274$18,541$17,840$17,170$16,529$15,827
5 years$15,265$14,536$13,845$13,188$12,565$11,888
6 years$12,593$11,870$11,188$10,547$9,942$9,291
7 years$10,686$9,968$9,298$8,671$8,086$7,461
8 years$9,256$8,545$7,885$7,274$6,708$6,110
9 years$8,144$7,440$6,791$6,196$5,649$5,077
10 years$7,255$6,558$5,921$5,341$4,813$4,267
11 years$6,528$5,838$5,213$4,648$4,140$3,619
12 years$5,923$5,240$4,626$4,077$3,587$3,091
13 years$5,411$4,735$4,133$3,599$3,128$2,656
14 years$4,973$4,304$3,714$3,195$2,742$2,294
15 years$4,594$3,932$3,353$2,849$2,414$1,989
16 years$4,262$3,608$3,040$2,551$2,134$1,731
17 years$3,970$3,322$2,766$2,292$1,892$1,511
18 years$3,710$3,070$2,525$2,066$1,682$1,322
19 years$3,478$2,845$2,312$1,867$1,499$1,159
20 years$3,270$2,644$2,122$1,691$1,339$1,018
21 years$3,081$2,463$1,951$1,534$1,199$896
22 years$2,910$2,299$1,799$1,395$1,074$790
23 years$2,754$2,150$1,661$1,271$964$697
24 years$2,611$2,015$1,536$1,159$867$615
25 years$2,480$1,891$1,422$1,058$780$544
26 years$2,359$1,777$1,319$968$703$481
27 years$2,248$1,672$1,225$886$633$426
28 years$2,144$1,576$1,139$812$572$378
29 years$2,048$1,486$1,060$744$516$335
30 years$1,958$1,404$987$683$466$297
31 years$1,875$1,327$920$627$422$264
32 years$1,796$1,256$859$576$381$234
33 years$1,723$1,189$802$530$345$208
34 years$1,654$1,127$749$488$312$185
35 years$1,589$1,069$700$449$283$164
36 years$1,528$1,015$655$414$256$146
37 years$1,470$964$613$381$232$130
38 years$1,416$916$574$351$211$115
39 years$1,364$871$538$324$191$102
40 years$1,315$829$504$299$173$91
41 years$1,269$789$473$276$157$81
42 years$1,225$751$444$254$143$72
43 years$1,183$716$416$235$129$64
44 years$1,143$682$391$217$118$57
45 years$1,105$651$367$200$107$51
46 years$1,069$621$345$185$97$45
47 years$1,034$592$324$171$88$40
48 years$1,001$565$304$158$80$36
49 years$969$540$286$146$73$32
50 years$939$516$269$135$66$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $962,000, adding $5,428 every year, while hoping to spend $48,346 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: 50/24/26 Blend
67$962,000$962,000$962,000$962,000
68$1,065,723$1,014,737$999,826$1,110,947
69$1,122,987$1,013,019$981,880$1,141,321
70$1,184,472$1,009,597$961,713$1,169,034
71$1,250,556$1,004,336$939,199$1,198,192
72$1,321,657$997,093$914,207$1,228,953
73$1,398,232$987,716$886,599$1,261,493
74$1,480,784$976,046$856,232$1,296,012
75$1,569,863$961,912$822,955$1,332,730
76$1,666,077$945,134$786,612$1,371,894
77$1,770,092$925,520$747,038$1,413,778
78$1,882,639$902,868$704,061$1,458,689
79$2,004,524$876,965$657,503$1,506,968
80$2,136,632$847,582$607,176$1,558,997
81$2,279,935$814,481$552,884$1,615,197
82$2,435,505$777,407$494,422$1,676,041
83$2,604,518$736,091$431,576$1,742,052
84$2,788,269$690,249$364,124$1,813,811
85$2,988,182$639,581$291,831$1,891,966
86$3,205,824$583,769$214,456$1,977,234
87$3,442,922$522,477$131,743$2,070,414
88$3,701,371$455,349$43,428$2,172,391
89$3,983,261$382,012$0$2,284,147
90$4,290,891$302,067$0$2,420,869
91$4,626,791$215,098$0$2,583,442
92$4,993,748$120,662$0$2,761,227
93$5,394,827$18,291$0$2,955,797
94$5,833,405$0$0$3,168,886
95$6,313,200$0$0$3,426,843
96$6,838,305$0$0$3,714,546
97$7,413,227$0$0$4,029,647
98$8,042,930$0$0$4,374,880
99$8,732,879$0$0$4,753,253
100$9,489,094$0$0$5,168,083