Can I retire at age 68 with 1,960,000?

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 $1,960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.2%
1 years$161,855$160,413$159,007$157,634$156,293$152,950
2 years$80,126$78,634$77,188$75,785$74,425$71,073
3 years$52,887$51,388$49,946$48,556$47,218$43,962
4 years$39,270$37,776$36,348$34,982$33,677$30,542
5 years$31,102$29,617$28,207$26,870$25,600$22,595
6 years$25,658$24,184$22,796$21,488$20,257$17,385
7 years$21,771$20,310$18,943$17,666$16,474$13,736
8 years$18,858$17,409$16,065$14,820$13,667$11,061
9 years$16,593$15,158$13,837$12,623$11,510$9,034
10 years$14,782$13,361$12,064$10,881$9,807$7,460
11 years$13,301$11,894$10,621$9,470$8,434$6,213
12 years$12,068$10,676$9,425$8,307$7,309$5,209
13 years$11,025$9,648$8,421$7,333$6,373$4,392
14 years$10,132$8,770$7,566$6,510$5,587$3,720
15 years$9,359$8,011$6,831$5,806$4,919$3,162
16 years$8,684$7,350$6,194$5,198$4,348$2,697
17 years$8,088$6,769$5,636$4,671$3,855$2,305
18 years$7,559$6,255$5,145$4,209$3,428$1,975
19 years$7,086$5,797$4,710$3,803$3,055$1,696
20 years$6,661$5,387$4,323$3,445$2,729$1,458
21 years$6,278$5,018$3,976$3,126$2,442$1,255
22 years$5,929$4,684$3,664$2,842$2,189$1,082
23 years$5,611$4,381$3,383$2,589$1,965$933
24 years$5,320$4,104$3,129$2,361$1,766$806
25 years$5,053$3,852$2,898$2,156$1,589$696
26 years$4,807$3,620$2,688$1,972$1,431$602
27 years$4,579$3,407$2,496$1,805$1,291$521
28 years$4,368$3,210$2,320$1,653$1,165$451
29 years$4,172$3,029$2,159$1,516$1,052$390
30 years$3,990$2,860$2,011$1,392$950$338
31 years$3,819$2,704$1,875$1,278$859$293
32 years$3,660$2,558$1,749$1,174$777$254
33 years$3,510$2,423$1,633$1,080$703$220
34 years$3,370$2,296$1,526$994$637$191
35 years$3,237$2,178$1,427$915$577$165
36 years$3,113$2,067$1,335$843$522$143
37 years$2,995$1,963$1,249$776$474$124
38 years$2,884$1,866$1,170$715$429$108
39 years$2,779$1,774$1,096$660$389$94
40 years$2,680$1,688$1,027$608$353$81
41 years$2,585$1,607$963$561$320$70
42 years$2,495$1,530$904$518$291$61
43 years$2,410$1,458$848$478$264$53
44 years$2,329$1,390$796$442$239$46
45 years$2,251$1,325$747$408$217$40
46 years$2,178$1,264$702$377$197$35
47 years$2,107$1,207$660$348$179$30
48 years$2,040$1,152$620$322$163$26
49 years$1,975$1,100$583$297$148$23
50 years$1,914$1,051$548$275$134$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $1,960,000, adding $2,703 every year, while hoping to spend $23,856 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: 83/5/12 Blend
67$1,960,000$1,960,000$1,960,000$1,960,000
68$2,162,708$2,058,828$2,028,448$2,337,442
69$2,357,922$2,134,328$2,071,019$2,527,803
70$2,572,248$2,212,728$2,114,216$2,733,381
71$2,807,610$2,294,145$2,158,035$2,958,437
72$3,066,129$2,378,700$2,202,471$3,204,917
73$3,350,139$2,466,522$2,247,519$3,474,963
74$3,662,212$2,557,741$2,293,171$3,770,933
75$4,005,184$2,652,496$2,339,418$4,095,426
76$4,382,176$2,750,931$2,386,251$4,451,304
77$4,796,628$2,853,197$2,433,660$4,841,721
78$5,252,328$2,959,448$2,481,633$5,270,148
79$5,753,454$3,069,849$2,530,155$5,740,412
80$6,304,604$3,184,569$2,579,213$6,256,727
81$6,910,846$3,303,786$2,628,790$6,823,737
82$7,577,765$3,427,684$2,678,867$7,446,556
83$8,311,514$3,556,457$2,729,426$8,130,819
84$9,118,870$3,690,306$2,780,443$8,882,736
85$10,007,304$3,829,439$2,831,897$9,709,146
86$10,985,044$3,974,078$2,883,761$10,617,584
87$12,061,160$4,124,448$2,936,008$11,616,354
88$13,245,642$4,280,790$2,988,608$12,714,603
89$14,549,499$4,443,351$3,041,529$13,922,410
90$15,984,864$4,612,391$3,094,736$15,250,881
91$17,565,102$4,788,180$3,148,191$16,712,251
92$19,304,943$4,971,001$3,201,856$18,320,003
93$21,220,615$5,161,148$3,255,686$20,088,990
94$23,330,003$5,358,930$3,309,637$22,035,581
95$25,652,813$5,564,667$3,363,659$24,177,811
96$28,210,758$5,778,694$3,417,700$26,535,552
97$31,027,767$6,001,361$3,471,705$29,130,702
98$34,130,205$6,233,034$3,525,613$31,987,388
99$37,547,126$6,474,093$3,579,361$35,132,198
100$41,310,546$6,724,937$3,632,883$38,594,427