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%16.2%
1 years$161,855$160,413$159,007$157,634$156,293$152,329
2 years$80,126$78,634$77,188$75,785$74,425$70,458
3 years$52,887$51,388$49,946$48,556$47,218$43,371
4 years$39,270$37,776$36,348$34,982$33,677$29,979
5 years$31,102$29,617$28,207$26,870$25,600$22,063
6 years$25,658$24,184$22,796$21,488$20,257$16,883
7 years$21,771$20,310$18,943$17,666$16,474$13,264
8 years$18,858$17,409$16,065$14,820$13,667$10,619
9 years$16,593$15,158$13,837$12,623$11,510$8,621
10 years$14,782$13,361$12,064$10,881$9,807$7,075
11 years$13,301$11,894$10,621$9,470$8,434$5,854
12 years$12,068$10,676$9,425$8,307$7,309$4,877
13 years$11,025$9,648$8,421$7,333$6,373$4,084
14 years$10,132$8,770$7,566$6,510$5,587$3,436
15 years$9,359$8,011$6,831$5,806$4,919$2,900
16 years$8,684$7,350$6,194$5,198$4,348$2,456
17 years$8,088$6,769$5,636$4,671$3,855$2,085
18 years$7,559$6,255$5,145$4,209$3,428$1,773
19 years$7,086$5,797$4,710$3,803$3,055$1,511
20 years$6,661$5,387$4,323$3,445$2,729$1,289
21 years$6,278$5,018$3,976$3,126$2,442$1,101
22 years$5,929$4,684$3,664$2,842$2,189$942
23 years$5,611$4,381$3,383$2,589$1,965$806
24 years$5,320$4,104$3,129$2,361$1,766$691
25 years$5,053$3,852$2,898$2,156$1,589$592
26 years$4,807$3,620$2,688$1,972$1,431$508
27 years$4,579$3,407$2,496$1,805$1,291$436
28 years$4,368$3,210$2,320$1,653$1,165$374
29 years$4,172$3,029$2,159$1,516$1,052$321
30 years$3,990$2,860$2,011$1,392$950$276
31 years$3,819$2,704$1,875$1,278$859$237
32 years$3,660$2,558$1,749$1,174$777$204
33 years$3,510$2,423$1,633$1,080$703$175
34 years$3,370$2,296$1,526$994$637$151
35 years$3,237$2,178$1,427$915$577$130
36 years$3,113$2,067$1,335$843$522$111
37 years$2,995$1,963$1,249$776$474$96
38 years$2,884$1,866$1,170$715$429$82
39 years$2,779$1,774$1,096$660$389$71
40 years$2,680$1,688$1,027$608$353$61
41 years$2,585$1,607$963$561$320$52
42 years$2,495$1,530$904$518$291$45
43 years$2,410$1,458$848$478$264$39
44 years$2,329$1,390$796$442$239$33
45 years$2,251$1,325$747$408$217$29
46 years$2,178$1,264$702$377$197$25
47 years$2,107$1,207$660$348$179$21
48 years$2,040$1,152$620$322$163$18
49 years$1,975$1,100$583$297$148$16
50 years$1,914$1,051$548$275$134$14

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 $3,204 every year, while hoping to spend $48,873 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: 74/14/12 Blend
67$1,960,000$1,960,000$1,960,000$1,960,000
68$2,163,225$2,059,345$2,028,965$2,317,849
69$2,331,873$2,108,252$2,044,935$2,469,318
70$2,516,086$2,157,918$2,059,802$2,628,818
71$2,717,399$2,208,328$2,073,477$2,802,230
72$2,937,502$2,259,465$2,085,867$2,990,917
73$3,178,259$2,311,310$2,096,875$3,196,384
74$3,441,718$2,363,841$2,106,397$3,420,286
75$3,730,138$2,417,034$2,114,326$3,664,446
76$4,046,003$2,470,860$2,120,547$3,930,875
77$4,392,051$2,525,288$2,124,941$4,221,784
78$4,771,297$2,580,283$2,127,383$4,539,612
79$5,187,060$2,635,809$2,127,742$4,887,045
80$5,642,998$2,691,821$2,125,879$5,267,041
81$6,143,138$2,748,274$2,121,650$5,682,860
82$6,691,915$2,805,116$2,114,902$6,138,093
83$7,294,216$2,862,293$2,105,477$6,636,697
84$7,955,423$2,919,742$2,093,207$7,183,032
85$8,681,465$2,977,398$2,077,919$7,781,901
86$9,478,872$3,035,189$2,059,427$8,438,597
87$10,354,840$3,093,036$2,037,541$9,158,953
88$11,317,295$3,150,855$2,012,059$9,949,393
89$12,374,966$3,208,555$1,982,771$10,816,999
90$13,537,475$3,266,036$1,949,455$11,769,575
91$14,815,417$3,323,192$1,911,882$12,815,717
92$16,220,469$3,379,908$1,869,810$13,964,900
93$17,765,494$3,436,060$1,822,985$15,227,564
94$19,464,662$3,491,515$1,771,143$16,615,215
95$21,333,590$3,546,131$1,714,008$18,140,530
96$23,389,479$3,599,754$1,651,291$19,817,480
97$25,651,284$3,652,221$1,582,688$21,661,461
98$28,139,891$3,703,355$1,507,883$23,689,439
99$30,878,308$3,752,968$1,426,546$25,920,111
100$33,891,891$3,800,859$1,338,330$28,374,078