Can I retire at age 68 with 1,950,000?

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 $1,950,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$161,029$159,595$158,195$156,829$155,496$152,543
2 years$79,717$78,233$76,794$75,399$74,046$71,083
3 years$52,617$51,126$49,691$48,309$46,978$44,096
4 years$39,070$37,583$36,162$34,804$33,505$30,728
5 years$30,943$29,466$28,063$26,733$25,470$22,805
6 years$25,527$24,061$22,679$21,378$20,153$17,603
7 years$21,660$20,206$18,847$17,576$16,390$13,955
8 years$18,761$17,320$15,983$14,744$13,597$11,277
9 years$16,508$15,081$13,767$12,559$11,451$9,244
10 years$14,706$13,293$12,002$10,826$9,757$7,661
11 years$13,233$11,834$10,566$9,422$8,391$6,405
12 years$12,006$10,621$9,377$8,264$7,271$5,391
13 years$10,969$9,599$8,378$7,296$6,341$4,564
14 years$10,081$8,725$7,528$6,477$5,558$3,881
15 years$9,312$7,970$6,797$5,776$4,894$3,313
16 years$8,639$7,313$6,162$5,172$4,325$2,837
17 years$8,047$6,735$5,607$4,647$3,835$2,436
18 years$7,520$6,223$5,119$4,188$3,410$2,096
19 years$7,050$5,768$4,686$3,784$3,039$1,808
20 years$6,627$5,359$4,300$3,427$2,715$1,561
21 years$6,245$4,992$3,956$3,110$2,430$1,350
22 years$5,899$4,660$3,646$2,828$2,178$1,169
23 years$5,583$4,358$3,366$2,575$1,955$1,014
24 years$5,293$4,084$3,113$2,349$1,757$879
25 years$5,027$3,832$2,883$2,145$1,581$763
26 years$4,782$3,602$2,674$1,961$1,424$663
27 years$4,556$3,390$2,483$1,795$1,284$577
28 years$4,346$3,194$2,308$1,645$1,159$501
29 years$4,151$3,013$2,148$1,508$1,046$436
30 years$3,969$2,846$2,001$1,384$945$380
31 years$3,800$2,690$1,865$1,271$855$331
32 years$3,641$2,545$1,741$1,169$773$288
33 years$3,492$2,410$1,625$1,075$700$251
34 years$3,352$2,285$1,518$989$633$219
35 years$3,221$2,167$1,420$910$574$191
36 years$3,097$2,057$1,328$838$520$166
37 years$2,980$1,953$1,243$772$471$145
38 years$2,870$1,856$1,164$712$427$126
39 years$2,765$1,765$1,091$656$387$110
40 years$2,666$1,679$1,022$605$351$96
41 years$2,572$1,599$958$559$319$84
42 years$2,483$1,523$899$515$289$73
43 years$2,398$1,451$844$476$262$64
44 years$2,317$1,383$792$439$238$56
45 years$2,240$1,319$744$406$216$48
46 years$2,166$1,258$698$375$196$42
47 years$2,096$1,200$656$346$178$37
48 years$2,029$1,146$617$320$162$32
49 years$1,965$1,094$580$296$147$28
50 years$1,904$1,045$545$273$134$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $1,950,000, adding $6,441 every year, while hoping to spend $50,866 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: 88/6/6 Blend
67$1,950,000$1,950,000$1,950,000$1,950,000
68$2,155,544$2,052,194$2,021,969$2,344,278
69$2,321,288$2,098,630$2,035,584$2,514,533
70$2,502,234$2,145,637$2,047,950$2,693,893
71$2,699,877$2,193,189$2,058,972$2,889,403
72$2,915,867$2,241,257$2,068,549$3,102,652
73$3,152,016$2,289,810$2,076,576$3,335,391
74$3,410,322$2,338,811$2,082,942$3,589,548
75$3,692,985$2,388,223$2,087,531$3,867,246
76$4,002,426$2,438,002$2,090,220$4,170,823
77$4,341,311$2,488,102$2,090,880$4,502,856
78$4,712,579$2,538,473$2,089,378$4,866,180
79$5,119,461$2,589,058$2,085,572$5,263,920
80$5,565,521$2,639,796$2,079,314$5,699,517
81$6,054,681$2,690,623$2,070,448$6,176,761
82$6,591,262$2,741,467$2,058,811$6,699,829
83$7,180,023$2,792,252$2,044,233$7,273,319
84$7,826,206$2,842,892$2,026,536$7,902,301
85$8,535,585$2,893,300$2,005,530$8,592,355
86$9,314,520$2,943,377$1,981,021$9,349,633
87$10,170,018$2,993,020$1,952,803$10,180,909
88$11,109,798$3,042,115$1,920,659$11,093,649
89$12,142,362$3,090,544$1,884,366$12,096,077
90$13,277,078$3,138,175$1,843,687$13,197,254
91$14,524,264$3,184,870$1,798,375$14,407,164
92$15,895,291$3,230,481$1,748,172$15,736,809
93$17,402,683$3,274,847$1,692,809$17,198,306
94$19,060,241$3,317,799$1,632,002$18,805,012
95$20,883,168$3,359,153$1,565,457$20,571,641
96$22,888,215$3,398,715$1,492,863$22,514,405
97$25,093,838$3,436,278$1,413,899$24,651,171
98$27,520,372$3,471,618$1,328,228$27,001,623
99$30,190,222$3,504,499$1,235,495$29,587,453
100$33,128,074$3,534,669$1,135,333$32,432,562