Can I retire at age 68 with 1,940,000?

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 $1,940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.9%
1 years$160,203$158,776$157,384$156,025$154,698$148,560
2 years$79,309$77,832$76,400$75,012$73,666$67,558
3 years$52,347$50,864$49,436$48,061$46,737$40,851
4 years$38,869$37,390$35,977$34,625$33,333$27,715
5 years$30,784$29,314$27,919$26,596$25,339$20,003
6 years$25,396$23,937$22,563$21,269$20,050$14,999
7 years$21,549$20,103$18,750$17,486$16,306$11,538
8 years$18,665$17,232$15,901$14,669$13,527$9,037
9 years$16,423$15,003$13,696$12,494$11,392$7,174
10 years$14,631$13,225$11,940$10,770$9,707$5,751
11 years$13,165$11,773$10,512$9,373$8,348$4,647
12 years$11,945$10,567$9,329$8,222$7,234$3,777
13 years$10,913$9,549$8,335$7,259$6,308$3,085
14 years$10,029$8,680$7,489$6,443$5,530$2,529
15 years$9,264$7,929$6,762$5,746$4,869$2,080
16 years$8,595$7,275$6,130$5,145$4,303$1,714
17 years$8,005$6,700$5,578$4,623$3,816$1,416
18 years$7,482$6,191$5,092$4,166$3,393$1,172
19 years$7,014$5,738$4,662$3,765$3,024$971
20 years$6,593$5,332$4,278$3,409$2,701$805
21 years$6,213$4,967$3,935$3,094$2,417$669
22 years$5,868$4,636$3,627$2,813$2,167$556
23 years$5,554$4,336$3,349$2,562$1,945$462
24 years$5,266$4,063$3,097$2,337$1,748$384
25 years$5,002$3,813$2,869$2,134$1,573$320
26 years$4,758$3,583$2,660$1,951$1,417$266
27 years$4,533$3,372$2,470$1,786$1,277$222
28 years$4,324$3,178$2,297$1,637$1,153$185
29 years$4,130$2,998$2,137$1,501$1,041$154
30 years$3,949$2,831$1,991$1,377$940$128
31 years$3,780$2,676$1,856$1,265$850$107
32 years$3,622$2,532$1,732$1,163$769$89
33 years$3,474$2,398$1,617$1,069$696$74
34 years$3,335$2,273$1,511$984$630$62
35 years$3,204$2,156$1,412$905$571$52
36 years$3,081$2,046$1,321$834$517$43
37 years$2,965$1,943$1,237$768$469$36
38 years$2,855$1,847$1,158$708$425$30
39 years$2,751$1,756$1,085$653$385$25
40 years$2,652$1,671$1,017$602$350$21
41 years$2,559$1,591$954$556$317$17
42 years$2,470$1,515$894$513$288$14
43 years$2,385$1,443$839$473$261$12
44 years$2,305$1,376$788$437$237$10
45 years$2,228$1,312$740$404$215$8
46 years$2,155$1,251$695$373$195$7
47 years$2,086$1,194$653$345$177$6
48 years$2,019$1,140$613$318$161$5
49 years$1,955$1,089$577$294$146$4
50 years$1,894$1,040$542$272$133$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $1,940,000, adding $3,075 every year, while hoping to spend $51,451 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: 74/10/16 Blend
67$1,940,000$1,940,000$1,940,000$1,940,000
68$2,141,052$2,038,232$2,008,162$2,291,593
69$2,304,696$2,083,362$2,020,692$2,436,813
70$2,483,307$2,128,979$2,031,917$2,589,256
71$2,678,357$2,175,052$2,041,740$2,754,926
72$2,891,468$2,221,548$2,050,057$2,935,124
73$3,124,424$2,268,430$2,056,760$3,131,283
74$3,379,189$2,315,657$2,061,735$3,344,983
75$3,657,927$2,363,184$2,064,863$3,577,964
76$3,963,019$2,410,963$2,066,019$3,832,141
77$4,297,087$2,458,941$2,065,071$4,109,627
78$4,663,021$2,507,060$2,061,882$4,412,748
79$5,063,999$2,555,257$2,056,306$4,744,068
80$5,503,527$2,603,464$2,048,191$5,106,410
81$5,985,461$2,651,607$2,037,380$5,502,888
82$6,514,050$2,699,608$2,023,704$5,936,930
83$7,093,974$2,747,380$2,006,989$6,412,316
84$7,730,388$2,794,831$1,987,053$6,933,208
85$8,428,971$2,841,861$1,963,702$7,504,196
86$9,195,978$2,888,363$1,936,737$8,130,336
87$10,038,297$2,934,223$1,905,948$8,817,200
88$10,963,519$2,979,315$1,871,113$9,570,929
89$11,980,005$3,023,509$1,832,002$10,398,288
90$13,096,966$3,066,662$1,788,375$11,306,735
91$14,324,550$3,108,621$1,739,979$12,304,487
92$15,673,936$3,149,225$1,686,550$13,400,601
93$17,157,440$3,188,300$1,627,812$14,605,057
94$18,788,631$3,225,659$1,563,476$15,928,852
95$20,582,459$3,261,105$1,493,240$17,384,109
96$22,555,396$3,294,425$1,416,790$18,984,184
97$24,725,589$3,325,393$1,333,794$20,743,798
98$27,113,031$3,353,770$1,243,909$22,679,176
99$29,739,754$3,379,299$1,146,774$24,808,195
100$32,630,030$3,401,706$1,042,012$27,150,559