Can I retire at age 68 with 992,000?

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 $992,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$81,918$81,189$80,477$79,782$79,103$77,066
2 years$40,554$39,798$39,066$38,357$37,668$35,629
3 years$26,767$26,009$25,279$24,576$23,898$21,921
4 years$19,875$19,119$18,396$17,705$17,044$15,145
5 years$15,741$14,990$14,276$13,599$12,957$11,140
6 years$12,986$12,240$11,537$10,876$10,252$8,520
7 years$11,019$10,279$9,588$8,941$8,338$6,690
8 years$9,544$8,811$8,131$7,501$6,917$5,353
9 years$8,398$7,672$7,003$6,389$5,825$4,343
10 years$7,481$6,762$6,106$5,507$4,963$3,562
11 years$6,732$6,020$5,375$4,793$4,269$2,945
12 years$6,108$5,403$4,770$4,204$3,699$2,452
13 years$5,580$4,883$4,262$3,712$3,226$2,052
14 years$5,128$4,439$3,829$3,295$2,828$1,725
15 years$4,737$4,055$3,458$2,938$2,490$1,455
16 years$4,395$3,720$3,135$2,631$2,200$1,231
17 years$4,093$3,426$2,852$2,364$1,951$1,044
18 years$3,826$3,166$2,604$2,130$1,735$888
19 years$3,587$2,934$2,384$1,925$1,546$756
20 years$3,371$2,726$2,188$1,743$1,381$644
21 years$3,177$2,540$2,012$1,582$1,236$550
22 years$3,001$2,371$1,855$1,439$1,108$470
23 years$2,840$2,217$1,712$1,310$994$402
24 years$2,693$2,077$1,584$1,195$894$344
25 years$2,558$1,950$1,467$1,091$804$295
26 years$2,433$1,832$1,360$998$725$253
27 years$2,318$1,724$1,263$913$653$217
28 years$2,211$1,625$1,174$837$589$186
29 years$2,112$1,533$1,093$767$532$159
30 years$2,019$1,448$1,018$704$481$137
31 years$1,933$1,368$949$647$435$118
32 years$1,852$1,295$885$594$393$101
33 years$1,777$1,226$827$547$356$87
34 years$1,705$1,162$772$503$322$74
35 years$1,639$1,102$722$463$292$64
36 years$1,576$1,046$676$426$264$55
37 years$1,516$994$632$393$240$47
38 years$1,460$944$592$362$217$41
39 years$1,407$898$555$334$197$35
40 years$1,356$854$520$308$179$30
41 years$1,308$813$488$284$162$26
42 years$1,263$775$457$262$147$22
43 years$1,220$738$429$242$134$19
44 years$1,179$703$403$224$121$16
45 years$1,139$671$378$206$110$14
46 years$1,102$640$355$191$100$12
47 years$1,066$611$334$176$91$10
48 years$1,032$583$314$163$82$9
49 years$1,000$557$295$150$75$8
50 years$969$532$277$139$68$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $992,000, adding $4,090 every year, while hoping to spend $29,391 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: 34/48/18 Blend
67$992,000$992,000$992,000$992,000
68$1,097,403$1,044,827$1,029,451$1,128,504
69$1,178,066$1,064,752$1,032,666$1,171,637
70$1,265,972$1,084,668$1,035,003$1,215,100
71$1,361,828$1,104,543$1,036,403$1,261,349
72$1,466,414$1,124,345$1,036,801$1,310,647
73$1,580,586$1,144,036$1,036,132$1,363,284
74$1,705,288$1,163,576$1,034,325$1,419,582
75$1,841,560$1,182,924$1,031,307$1,479,895
76$1,990,545$1,202,033$1,027,002$1,544,614
77$2,153,502$1,220,854$1,021,328$1,614,171
78$2,331,819$1,239,336$1,014,202$1,689,044
79$2,527,022$1,257,420$1,005,535$1,769,759
80$2,740,792$1,275,048$995,235$1,856,901
81$2,974,981$1,292,154$983,204$1,951,111
82$3,231,629$1,308,668$969,340$2,053,100
83$3,512,980$1,324,518$953,538$2,163,652
84$3,821,508$1,339,624$935,686$2,283,634
85$4,159,938$1,353,901$915,667$2,414,003
86$4,531,269$1,367,260$893,360$2,555,814
87$4,938,808$1,379,605$868,636$2,710,234
88$5,386,193$1,390,833$841,363$2,878,551
89$5,877,437$1,400,836$811,400$3,062,186
90$6,416,955$1,409,496$778,602$3,262,710
91$7,009,615$1,416,692$742,816$3,481,855
92$7,660,778$1,422,292$703,882$3,721,535
93$8,376,348$1,426,156$661,634$3,983,860
94$9,162,834$1,428,135$615,896$4,271,162
95$10,027,402$1,428,073$566,488$4,586,012
96$10,977,949$1,425,801$513,218$4,931,252
97$12,023,177$1,421,142$455,887$5,310,013
98$13,172,670$1,413,907$394,289$5,725,754
99$14,436,991$1,403,897$328,205$6,182,291
100$15,827,774$1,390,898$257,410$6,683,835