Can I retire at age 68 with 997,000?

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 $997,000?

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$82,331$81,598$80,882$80,184$79,502$77,455
2 years$40,758$39,999$39,263$38,550$37,858$35,809
3 years$26,902$26,140$25,406$24,699$24,019$22,032
4 years$19,976$19,216$18,489$17,795$17,130$15,221
5 years$15,821$15,065$14,348$13,668$13,022$11,196
6 years$13,052$12,302$11,596$10,930$10,304$8,563
7 years$11,075$10,331$9,636$8,986$8,380$6,723
8 years$9,592$8,856$8,172$7,538$6,952$5,380
9 years$8,440$7,710$7,039$6,421$5,855$4,365
10 years$7,519$6,796$6,136$5,535$4,988$3,580
11 years$6,766$6,050$5,402$4,817$4,290$2,960
12 years$6,139$5,431$4,794$4,225$3,718$2,464
13 years$5,608$4,908$4,284$3,730$3,242$2,063
14 years$5,154$4,461$3,849$3,311$2,842$1,734
15 years$4,761$4,075$3,475$2,953$2,502$1,463
16 years$4,417$3,739$3,151$2,644$2,211$1,238
17 years$4,114$3,443$2,867$2,376$1,961$1,050
18 years$3,845$3,182$2,617$2,141$1,744$892
19 years$3,605$2,949$2,396$1,935$1,554$760
20 years$3,388$2,740$2,199$1,752$1,388$648
21 years$3,193$2,552$2,022$1,590$1,242$553
22 years$3,016$2,383$1,864$1,446$1,113$473
23 years$2,854$2,228$1,721$1,317$999$404
24 years$2,706$2,088$1,592$1,201$898$346
25 years$2,570$1,959$1,474$1,097$808$296
26 years$2,445$1,841$1,367$1,003$728$254
27 years$2,329$1,733$1,270$918$657$218
28 years$2,222$1,633$1,180$841$592$187
29 years$2,122$1,541$1,098$771$535$160
30 years$2,029$1,455$1,023$708$483$138
31 years$1,943$1,375$954$650$437$118
32 years$1,862$1,301$890$597$395$101
33 years$1,785$1,232$831$549$358$87
34 years$1,714$1,168$776$505$324$75
35 years$1,647$1,108$726$465$293$64
36 years$1,583$1,052$679$429$266$55
37 years$1,524$999$636$395$241$47
38 years$1,467$949$595$364$218$41
39 years$1,414$903$558$336$198$35
40 years$1,363$859$523$310$180$30
41 years$1,315$817$490$286$163$26
42 years$1,269$778$460$264$148$22
43 years$1,226$742$431$243$134$19
44 years$1,185$707$405$225$122$16
45 years$1,145$674$380$207$111$14
46 years$1,108$643$357$192$100$12
47 years$1,072$614$335$177$91$10
48 years$1,038$586$315$164$83$9
49 years$1,005$560$296$151$75$8
50 years$973$534$279$140$68$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $997,000, adding $4,105 every year, while hoping to spend $53,427 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: 58/34/8 Blend
67$997,000$997,000$997,000$997,000
68$1,102,928$1,050,087$1,034,634$1,164,683
69$1,158,581$1,044,696$1,012,448$1,201,291
70$1,218,120$1,037,249$987,729$1,234,787
71$1,281,884$1,027,591$960,334$1,269,978
72$1,350,248$1,015,554$930,116$1,307,031
73$1,423,619$1,000,962$896,921$1,346,133
74$1,502,447$983,628$860,587$1,387,489
75$1,587,224$963,353$820,944$1,431,331
76$1,678,492$939,929$777,817$1,477,914
77$1,776,844$913,131$731,019$1,527,525
78$1,882,933$882,726$680,360$1,580,480
79$1,997,476$848,463$625,636$1,637,133
80$2,121,261$810,080$566,637$1,697,875
81$2,255,153$767,298$503,143$1,763,142
82$2,400,105$719,821$434,923$1,833,420
83$2,557,161$667,338$361,739$1,909,245
84$2,727,473$609,518$283,339$1,991,215
85$2,912,305$546,015$199,461$2,079,992
86$3,113,049$476,459$109,831$2,176,312
87$3,331,235$400,460$14,166$2,280,990
88$3,568,547$317,609$0$2,394,933
89$3,826,837$227,469$0$2,526,648
90$4,108,142$129,583$0$2,671,522
91$4,414,707$23,467$0$2,829,603
92$4,748,998$0$0$3,002,288
93$5,113,732$0$0$3,225,314
94$5,511,900$0$0$3,478,447
95$5,946,793$0$0$3,755,010
96$6,422,035$0$0$4,057,318
97$6,941,614$0$0$4,387,920
98$7,509,923$0$0$4,749,620
99$8,131,798$0$0$5,145,510
100$8,812,564$0$0$5,578,990