Can I retire at age 68 with 994,000?

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 $994,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.6%
1 years$82,084$81,352$80,639$79,943$79,263$77,128
2 years$40,635$39,879$39,145$38,434$37,744$35,608
3 years$26,821$26,061$25,330$24,625$23,947$21,877
4 years$19,915$19,158$18,433$17,741$17,079$15,091
5 years$15,773$15,020$14,305$13,627$12,983$11,083
6 years$13,012$12,265$11,561$10,897$10,273$8,462
7 years$11,041$10,300$9,607$8,959$8,355$6,633
8 years$9,564$8,829$8,147$7,516$6,931$5,298
9 years$8,415$7,687$7,017$6,402$5,837$4,291
10 years$7,496$6,776$6,118$5,518$4,973$3,513
11 years$6,745$6,032$5,386$4,803$4,277$2,899
12 years$6,120$5,414$4,780$4,213$3,707$2,409
13 years$5,591$4,893$4,271$3,719$3,232$2,012
14 years$5,139$4,447$3,837$3,301$2,833$1,688
15 years$4,747$4,063$3,464$2,944$2,495$1,421
16 years$4,404$3,728$3,141$2,636$2,205$1,200
17 years$4,102$3,433$2,858$2,369$1,955$1,015
18 years$3,833$3,172$2,609$2,135$1,738$861
19 years$3,594$2,940$2,389$1,929$1,549$731
20 years$3,378$2,732$2,192$1,747$1,384$622
21 years$3,184$2,545$2,016$1,585$1,238$530
22 years$3,007$2,375$1,858$1,442$1,110$452
23 years$2,846$2,222$1,716$1,313$996$386
24 years$2,698$2,082$1,587$1,197$896$329
25 years$2,563$1,953$1,470$1,094$806$281
26 years$2,438$1,836$1,363$1,000$726$241
27 years$2,322$1,728$1,266$915$655$206
28 years$2,215$1,628$1,177$839$591$176
29 years$2,116$1,536$1,095$769$533$151
30 years$2,023$1,451$1,020$706$482$129
31 years$1,937$1,371$951$648$436$111
32 years$1,856$1,297$887$596$394$95
33 years$1,780$1,229$828$548$357$81
34 years$1,709$1,165$774$504$323$69
35 years$1,642$1,105$724$464$292$60
36 years$1,579$1,048$677$427$265$51
37 years$1,519$996$634$394$240$44
38 years$1,463$946$593$363$218$38
39 years$1,409$900$556$335$197$32
40 years$1,359$856$521$309$179$28
41 years$1,311$815$489$285$162$24
42 years$1,266$776$458$263$147$20
43 years$1,222$739$430$243$134$17
44 years$1,181$705$404$224$121$15
45 years$1,142$672$379$207$110$13
46 years$1,104$641$356$191$100$11
47 years$1,069$612$334$177$91$9
48 years$1,034$584$314$163$83$8
49 years$1,002$558$295$151$75$7
50 years$970$533$278$139$68$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $994,000, adding $4,542 every year, while hoping to spend $28,099 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: 36/49/15 Blend
67$994,000$994,000$994,000$994,000
68$1,100,073$1,047,391$1,031,984$1,134,466
69$1,182,383$1,068,816$1,036,658$1,181,131
70$1,272,148$1,090,349$1,040,548$1,228,476
71$1,370,096$1,111,966$1,043,596$1,278,981
72$1,477,034$1,133,640$1,045,744$1,332,945
73$1,593,845$1,155,342$1,046,930$1,390,694
74$1,721,506$1,177,042$1,047,090$1,452,588
75$1,861,087$1,198,705$1,046,156$1,519,026
76$2,013,772$1,220,296$1,044,056$1,590,445
77$2,180,861$1,241,774$1,040,716$1,667,332
78$2,363,785$1,263,098$1,036,057$1,750,219
79$2,564,123$1,284,221$1,029,996$1,839,697
80$2,783,611$1,305,096$1,022,449$1,936,417
81$3,024,163$1,325,668$1,013,324$2,041,095
82$3,287,884$1,345,883$1,002,527$2,154,525
83$3,577,095$1,365,678$989,958$2,277,580
84$3,894,352$1,384,990$975,515$2,411,226
85$4,242,470$1,403,748$959,089$2,556,525
86$4,624,548$1,421,879$940,565$2,714,652
87$5,044,004$1,439,302$919,825$2,886,904
88$5,504,597$1,455,933$896,745$3,074,710
89$6,010,474$1,471,682$871,194$3,279,647
90$6,566,199$1,486,451$843,035$3,503,455
91$7,176,802$1,500,137$812,127$3,748,056
92$7,847,823$1,512,631$778,321$4,015,567
93$8,585,366$1,523,815$741,460$4,308,325
94$9,396,156$1,533,565$701,381$4,628,911
95$10,287,601$1,541,747$657,915$4,980,167
96$11,267,865$1,548,221$610,884$5,365,233
97$12,345,940$1,552,837$560,102$5,787,570
98$13,531,735$1,555,434$505,373$6,250,997
99$14,836,165$1,555,844$446,497$6,759,726
100$16,271,260$1,553,886$383,260$7,318,404