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%15.3%
1 years$160,203$158,776$157,384$156,025$154,698$151,328
2 years$79,309$77,832$76,400$75,012$73,666$70,287
3 years$52,347$50,864$49,436$48,061$46,737$43,455
4 years$38,869$37,390$35,977$34,625$33,333$30,174
5 years$30,784$29,314$27,919$26,596$25,339$22,311
6 years$25,396$23,937$22,563$21,269$20,050$17,157
7 years$21,549$20,103$18,750$17,486$16,306$13,548
8 years$18,665$17,232$15,901$14,669$13,527$10,904
9 years$16,423$15,003$13,696$12,494$11,392$8,900
10 years$14,631$13,225$11,940$10,770$9,707$7,345
11 years$13,165$11,773$10,512$9,373$8,348$6,113
12 years$11,945$10,567$9,329$8,222$7,234$5,122
13 years$10,913$9,549$8,335$7,259$6,308$4,316
14 years$10,029$8,680$7,489$6,443$5,530$3,653
15 years$9,264$7,929$6,762$5,746$4,869$3,103
16 years$8,595$7,275$6,130$5,145$4,303$2,644
17 years$8,005$6,700$5,578$4,623$3,816$2,259
18 years$7,482$6,191$5,092$4,166$3,393$1,934
19 years$7,014$5,738$4,662$3,765$3,024$1,659
20 years$6,593$5,332$4,278$3,409$2,701$1,426
21 years$6,213$4,967$3,935$3,094$2,417$1,226
22 years$5,868$4,636$3,627$2,813$2,167$1,056
23 years$5,554$4,336$3,349$2,562$1,945$911
24 years$5,266$4,063$3,097$2,337$1,748$786
25 years$5,002$3,813$2,869$2,134$1,573$678
26 years$4,758$3,583$2,660$1,951$1,417$586
27 years$4,533$3,372$2,470$1,786$1,277$507
28 years$4,324$3,178$2,297$1,637$1,153$438
29 years$4,130$2,998$2,137$1,501$1,041$379
30 years$3,949$2,831$1,991$1,377$940$328
31 years$3,780$2,676$1,856$1,265$850$284
32 years$3,622$2,532$1,732$1,163$769$246
33 years$3,474$2,398$1,617$1,069$696$213
34 years$3,335$2,273$1,511$984$630$184
35 years$3,204$2,156$1,412$905$571$160
36 years$3,081$2,046$1,321$834$517$138
37 years$2,965$1,943$1,237$768$469$120
38 years$2,855$1,847$1,158$708$425$104
39 years$2,751$1,756$1,085$653$385$90
40 years$2,652$1,671$1,017$602$350$78
41 years$2,559$1,591$954$556$317$68
42 years$2,470$1,515$894$513$288$59
43 years$2,385$1,443$839$473$261$51
44 years$2,305$1,376$788$437$237$44
45 years$2,228$1,312$740$404$215$38
46 years$2,155$1,251$695$373$195$33
47 years$2,086$1,194$653$345$177$29
48 years$2,019$1,140$613$318$161$25
49 years$1,955$1,089$577$294$146$22
50 years$1,894$1,040$542$272$133$19

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 $3,878 every year, while hoping to spend $43,069 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: 42/49/9 Blend
67$1,940,000$1,940,000$1,940,000$1,940,000
68$2,141,880$2,039,060$2,008,990$2,226,032
69$2,314,527$2,093,149$2,030,466$2,339,221
70$2,503,340$2,148,445$2,051,218$2,457,064
71$2,709,923$2,204,961$2,071,177$2,583,690
72$2,936,042$2,262,711$2,090,268$2,719,914
73$3,183,641$2,321,706$2,108,414$2,866,635
74$3,454,860$2,381,958$2,125,534$3,024,843
75$3,752,058$2,443,476$2,141,542$3,195,626
76$4,077,832$2,506,270$2,156,348$3,380,182
77$4,435,042$2,570,348$2,169,856$3,579,832
78$4,826,836$2,635,716$2,181,966$3,796,025
79$5,256,686$2,702,378$2,192,574$4,030,362
80$5,728,411$2,770,338$2,201,569$4,284,602
81$6,246,223$2,839,598$2,208,835$4,560,683
82$6,814,757$2,910,157$2,214,250$4,860,742
83$7,439,121$2,982,014$2,217,686$5,187,128
84$8,124,941$3,055,163$2,219,009$5,542,431
85$8,878,417$3,129,598$2,218,078$5,929,504
86$9,706,377$3,205,309$2,214,745$6,351,489
87$10,616,342$3,282,285$2,208,854$6,811,847
88$11,616,602$3,360,509$2,200,243$7,314,390
89$12,716,286$3,439,965$2,188,742$7,863,321
90$13,925,454$3,520,629$2,174,171$8,463,267
91$15,255,188$3,602,478$2,156,344$9,119,327
92$16,717,699$3,685,481$2,135,063$9,837,120
93$18,326,440$3,769,606$2,110,124$10,622,837
94$20,096,234$3,854,814$2,081,310$11,483,299
95$22,043,413$3,941,063$2,048,397$12,426,022
96$24,185,972$4,028,306$2,011,149$13,459,288
97$26,543,736$4,116,488$1,969,317$14,592,224
98$29,138,552$4,205,551$1,922,645$15,834,887
99$31,994,492$4,295,430$1,870,860$17,198,360
100$35,138,077$4,386,053$1,813,681$18,694,855