Can I retire at age 68 with 974,000?

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 $974,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$80,432$79,716$79,017$78,334$77,668$75,485
2 years$39,818$39,076$38,358$37,661$36,985$34,802
3 years$26,282$25,537$24,820$24,130$23,465$21,350
4 years$19,515$18,772$18,063$17,384$16,735$14,706
5 years$15,456$14,718$14,017$13,353$12,722$10,783
6 years$12,751$12,018$11,328$10,678$10,066$8,219
7 years$10,819$10,093$9,414$8,779$8,187$6,432
8 years$9,371$8,651$7,984$7,365$6,792$5,128
9 years$8,246$7,533$6,876$6,273$5,720$4,146
10 years$7,346$6,640$5,995$5,407$4,873$3,387
11 years$6,610$5,911$5,278$4,706$4,191$2,791
12 years$5,997$5,305$4,684$4,128$3,632$2,314
13 years$5,479$4,794$4,185$3,644$3,167$1,929
14 years$5,035$4,358$3,760$3,235$2,776$1,615
15 years$4,651$3,981$3,395$2,885$2,445$1,356
16 years$4,315$3,653$3,078$2,583$2,160$1,143
17 years$4,019$3,364$2,801$2,321$1,916$965
18 years$3,756$3,108$2,557$2,092$1,703$817
19 years$3,521$2,881$2,341$1,890$1,518$692
20 years$3,310$2,677$2,148$1,712$1,356$588
21 years$3,120$2,494$1,976$1,554$1,214$499
22 years$2,946$2,328$1,821$1,413$1,088$425
23 years$2,788$2,177$1,681$1,286$976$362
24 years$2,644$2,040$1,555$1,173$878$308
25 years$2,511$1,914$1,440$1,072$790$263
26 years$2,389$1,799$1,336$980$711$224
27 years$2,276$1,693$1,240$897$641$191
28 years$2,171$1,595$1,153$822$579$163
29 years$2,073$1,505$1,073$753$523$139
30 years$1,983$1,421$999$691$472$119
31 years$1,898$1,344$932$635$427$102
32 years$1,819$1,271$869$584$386$87
33 years$1,744$1,204$812$537$349$74
34 years$1,674$1,141$758$494$316$63
35 years$1,609$1,082$709$455$287$54
36 years$1,547$1,027$663$419$260$46
37 years$1,489$976$621$386$235$40
38 years$1,433$927$581$356$213$34
39 years$1,381$882$545$328$193$29
40 years$1,332$839$511$302$175$25
41 years$1,285$799$479$279$159$21
42 years$1,240$761$449$257$144$18
43 years$1,198$725$421$238$131$15
44 years$1,157$691$396$219$119$13
45 years$1,119$659$371$203$108$11
46 years$1,082$628$349$187$98$10
47 years$1,047$600$328$173$89$8
48 years$1,014$572$308$160$81$7
49 years$982$547$289$148$73$6
50 years$951$522$272$137$67$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $974,000, adding $4,502 every year, while hoping to spend $22,686 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: 77/16/7 Blend
67$974,000$974,000$974,000$974,000
68$1,077,992$1,026,370$1,011,273$1,159,734
69$1,163,809$1,052,524$1,021,013$1,240,201
70$1,257,620$1,079,200$1,030,319$1,325,021
71$1,360,215$1,106,398$1,039,152$1,417,350
72$1,472,465$1,134,120$1,047,472$1,517,926
73$1,595,331$1,162,366$1,055,237$1,627,559
74$1,729,868$1,191,136$1,062,400$1,747,143
75$1,877,240$1,220,427$1,068,916$1,877,660
76$2,038,728$1,250,238$1,074,735$2,020,195
77$2,215,743$1,280,564$1,079,803$2,175,940
78$2,409,840$1,311,402$1,084,067$2,346,209
79$2,622,729$1,342,747$1,087,469$2,532,450
80$2,856,296$1,374,590$1,089,948$2,736,257
81$3,112,617$1,406,924$1,091,440$2,959,386
82$3,393,980$1,439,739$1,091,879$3,203,771
83$3,702,904$1,473,024$1,091,195$3,471,543
84$4,042,164$1,506,767$1,089,315$3,765,050
85$4,414,819$1,540,952$1,086,160$4,086,879
86$4,824,235$1,575,563$1,081,651$4,439,879
87$5,274,123$1,610,582$1,075,703$4,827,189
88$5,768,572$1,645,989$1,068,227$5,252,268
89$6,312,083$1,681,759$1,059,130$5,718,926
90$6,909,619$1,717,869$1,048,314$6,231,363
91$7,566,645$1,754,289$1,035,677$6,794,204
92$8,289,183$1,790,990$1,021,113$7,412,546
93$9,083,869$1,827,937$1,004,509$8,092,006
94$9,958,012$1,865,095$985,749$8,838,773
95$10,919,666$1,902,422$964,709$9,659,665
96$11,977,707$1,939,875$941,261$10,562,195
97$13,141,911$1,977,407$915,271$11,554,644
98$14,423,052$2,014,966$886,599$12,646,134
99$15,833,000$2,052,496$855,097$13,846,717
100$17,384,835$2,089,937$820,611$15,167,471