Can I retire at age 68 with 968,000?

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 $968,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.6%
1 years$79,937$79,225$78,530$77,852$77,190$76,036
2 years$39,573$38,836$38,121$37,429$36,757$35,597
3 years$26,120$25,379$24,667$23,981$23,320$22,191
4 years$19,395$18,657$17,951$17,277$16,632$15,541
5 years$15,360$14,627$13,931$13,270$12,643$11,595
6 years$12,672$11,944$11,258$10,612$10,004$8,999
7 years$10,752$10,031$9,356$8,725$8,136$7,174
8 years$9,313$8,598$7,934$7,319$6,750$5,831
9 years$8,195$7,486$6,834$6,234$5,684$4,808
10 years$7,300$6,599$5,958$5,374$4,843$4,009
11 years$6,569$5,874$5,245$4,677$4,165$3,373
12 years$5,960$5,273$4,655$4,102$3,610$2,857
13 years$5,445$4,765$4,159$3,622$3,148$2,435
14 years$5,004$4,331$3,737$3,215$2,759$2,085
15 years$4,622$3,957$3,374$2,867$2,429$1,792
16 years$4,289$3,630$3,059$2,567$2,147$1,545
17 years$3,994$3,343$2,783$2,307$1,904$1,336
18 years$3,733$3,089$2,541$2,079$1,693$1,158
19 years$3,500$2,863$2,326$1,878$1,509$1,006
20 years$3,290$2,660$2,135$1,701$1,348$876
21 years$3,100$2,478$1,964$1,544$1,206$763
22 years$2,928$2,313$1,810$1,404$1,081$666
23 years$2,771$2,164$1,671$1,278$970$582
24 years$2,628$2,027$1,545$1,166$872$509
25 years$2,496$1,902$1,431$1,065$785$445
26 years$2,374$1,788$1,327$974$707$390
27 years$2,262$1,683$1,233$891$637$342
28 years$2,157$1,586$1,146$817$575$299
29 years$2,061$1,496$1,066$749$519$263
30 years$1,970$1,413$993$687$469$231
31 years$1,886$1,335$926$631$424$202
32 years$1,807$1,264$864$580$384$178
33 years$1,734$1,197$807$533$347$156
34 years$1,664$1,134$754$491$314$137
35 years$1,599$1,076$705$452$285$121
36 years$1,537$1,021$659$416$258$106
37 years$1,479$970$617$383$234$93
38 years$1,425$922$578$353$212$82
39 years$1,373$876$541$326$192$72
40 years$1,323$834$507$301$174$63
41 years$1,277$794$476$277$158$56
42 years$1,232$756$446$256$144$49
43 years$1,190$720$419$236$130$43
44 years$1,150$686$393$218$118$38
45 years$1,112$655$369$201$107$33
46 years$1,075$624$347$186$97$29
47 years$1,041$596$326$172$89$26
48 years$1,007$569$306$159$80$23
49 years$976$543$288$147$73$20
50 years$945$519$270$136$66$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $968,000, adding $5,648 every year, while hoping to spend $27,369 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: 55/29/16 Blend
67$968,000$968,000$968,000$968,000
68$1,072,562$1,021,258$1,006,254$1,126,710
69$1,152,843$1,042,179$1,010,843$1,185,136
70$1,240,395$1,063,208$1,014,669$1,245,301
71$1,335,932$1,084,322$1,017,676$1,310,197
72$1,440,237$1,105,493$1,019,808$1,380,283
73$1,554,174$1,126,696$1,021,005$1,456,065
74$1,678,695$1,147,899$1,021,204$1,538,099
75$1,814,846$1,169,070$1,020,338$1,626,998
76$1,963,779$1,190,173$1,018,338$1,723,439
77$2,126,763$1,211,171$1,015,132$1,828,168
78$2,305,197$1,232,022$1,010,642$1,942,006
79$2,500,618$1,252,682$1,004,790$2,065,859
80$2,714,721$1,273,103$997,490$2,200,727
81$2,949,372$1,293,235$988,656$2,347,711
82$3,206,627$1,313,023$978,195$2,508,023
83$3,488,749$1,332,407$966,011$2,683,004
84$3,798,232$1,351,325$952,002$2,874,127
85$4,137,821$1,369,709$936,064$3,083,019
86$4,510,541$1,387,488$918,085$3,311,475
87$4,919,725$1,404,584$897,949$3,561,470
88$5,369,043$1,420,914$875,536$3,835,184
89$5,862,537$1,436,391$850,719$4,135,021
90$6,404,663$1,450,920$823,364$4,463,628
91$7,000,325$1,464,402$793,334$4,823,928
92$7,654,931$1,476,730$760,483$5,219,140
93$8,374,434$1,487,790$724,659$5,652,813
94$9,165,395$1,497,461$685,704$6,128,861
95$10,035,043$1,505,614$643,453$6,651,599
96$10,991,340$1,512,112$597,732$7,225,783
97$12,043,061$1,516,810$548,359$7,856,656
98$13,199,871$1,519,551$495,147$8,549,998
99$14,472,421$1,520,172$437,898$9,312,184
100$15,872,445$1,518,498$376,404$10,150,236