Can I retire at age 68 with 993,000?

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 $993,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$82,001$81,271$80,558$79,862$79,183$77,712
2 years$40,595$39,839$39,106$38,395$37,706$36,229
3 years$26,794$26,035$25,304$24,600$23,922$22,486
4 years$19,895$19,138$18,415$17,723$17,062$15,677
5 years$15,757$15,005$14,291$13,613$12,970$11,641
6 years$12,999$12,253$11,549$10,886$10,263$8,990
7 years$11,030$10,290$9,597$8,950$8,346$7,131
8 years$9,554$8,820$8,139$7,508$6,924$5,766
9 years$8,406$7,680$7,010$6,395$5,831$4,729
10 years$7,489$6,769$6,112$5,513$4,968$3,922
11 years$6,739$6,026$5,381$4,798$4,273$3,281
12 years$6,114$5,409$4,775$4,208$3,703$2,763
13 years$5,586$4,888$4,266$3,715$3,229$2,341
14 years$5,133$4,443$3,833$3,298$2,831$1,992
15 years$4,742$4,059$3,461$2,941$2,492$1,702
16 years$4,399$3,724$3,138$2,634$2,203$1,458
17 years$4,098$3,429$2,855$2,366$1,953$1,253
18 years$3,830$3,169$2,607$2,132$1,737$1,079
19 years$3,590$2,937$2,386$1,927$1,548$931
20 years$3,375$2,729$2,190$1,745$1,383$805
21 years$3,180$2,542$2,014$1,584$1,237$697
22 years$3,004$2,373$1,857$1,440$1,109$604
23 years$2,843$2,219$1,714$1,312$995$524
24 years$2,695$2,079$1,585$1,196$895$455
25 years$2,560$1,951$1,468$1,092$805$395
26 years$2,435$1,834$1,362$999$725$344
27 years$2,320$1,726$1,265$914$654$299
28 years$2,213$1,626$1,176$838$590$260
29 years$2,114$1,534$1,094$768$533$227
30 years$2,021$1,449$1,019$705$481$197
31 years$1,935$1,370$950$647$435$172
32 years$1,854$1,296$886$595$394$150
33 years$1,778$1,227$828$547$356$131
34 years$1,707$1,163$773$503$323$114
35 years$1,640$1,103$723$463$292$99
36 years$1,577$1,047$676$427$265$87
37 years$1,518$995$633$393$240$76
38 years$1,461$945$593$362$218$66
39 years$1,408$899$555$334$197$58
40 years$1,358$855$521$308$179$50
41 years$1,310$814$488$284$162$44
42 years$1,264$775$458$262$147$38
43 years$1,221$739$430$242$134$33
44 years$1,180$704$403$224$121$29
45 years$1,141$671$379$207$110$26
46 years$1,103$641$356$191$100$22
47 years$1,067$611$334$176$91$19
48 years$1,033$584$314$163$82$17
49 years$1,001$557$295$151$75$15
50 years$970$532$277$139$68$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $993,000, adding $6,428 every year, while hoping to spend $59,619 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: 53/30/17 Blend
67$993,000$993,000$993,000$993,000
68$1,100,916$1,048,287$1,032,896$1,153,878
69$1,149,776$1,036,219$1,004,064$1,178,768
70$1,201,621$1,021,562$972,268$1,198,998
71$1,256,692$1,004,125$937,345$1,219,694
72$1,315,256$983,708$899,127$1,240,917
73$1,377,599$960,097$857,435$1,262,737
74$1,444,040$933,067$812,084$1,285,236
75$1,514,924$902,379$762,881$1,308,509
76$1,590,631$867,781$709,623$1,332,660
77$1,671,578$829,005$652,098$1,357,813
78$1,758,221$785,768$590,085$1,384,106
79$1,851,059$737,770$523,353$1,411,697
80$1,950,643$684,697$451,661$1,440,764
81$2,057,573$626,211$374,756$1,471,510
82$2,172,511$561,962$292,376$1,504,164
83$2,296,183$491,573$204,246$1,538,982
84$2,429,384$414,651$110,079$1,576,258
85$2,572,990$330,777$9,575$1,616,316
86$2,727,962$239,512$0$1,659,526
87$2,895,355$140,390$0$1,724,019
88$3,076,331$32,918$0$1,795,544
89$3,272,164$0$0$1,872,946
90$3,484,257$0$0$1,984,408
91$3,714,150$0$0$2,117,086
92$3,963,540$0$0$2,261,100
93$4,234,289$0$0$2,417,537
94$4,528,448$0$0$2,587,595
95$4,848,273$0$0$2,772,587
96$5,196,245$0$0$2,973,962
97$5,575,093$0$0$3,193,312
98$5,987,822$0$0$3,432,390
99$6,437,738$0$0$3,693,124
100$6,928,478$0$0$3,977,639