Can I retire at age 68 with 1,970,000?

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 $1,970,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.6%
1 years$162,681$161,232$159,818$158,438$157,091$154,743
2 years$80,535$79,035$77,582$76,172$74,805$72,445
3 years$53,157$51,650$50,200$48,804$47,459$45,161
4 years$39,470$37,968$36,533$35,161$33,848$31,629
5 years$31,260$29,768$28,351$27,007$25,731$23,597
6 years$25,789$24,308$22,912$21,598$20,360$18,313
7 years$21,883$20,413$19,040$17,757$16,558$14,600
8 years$18,954$17,498$16,147$14,896$13,737$11,866
9 years$16,677$15,235$13,908$12,688$11,568$9,785
10 years$14,857$13,429$12,125$10,937$9,857$8,160
11 years$13,369$11,955$10,675$9,518$8,477$6,864
12 years$12,129$10,730$9,474$8,349$7,346$5,815
13 years$11,082$9,697$8,464$7,371$6,406$4,955
14 years$10,184$8,814$7,605$6,543$5,615$4,242
15 years$9,407$8,052$6,866$5,835$4,944$3,646
16 years$8,728$7,388$6,225$5,225$4,370$3,145
17 years$8,129$6,804$5,665$4,694$3,875$2,720
18 years$7,598$6,287$5,171$4,231$3,445$2,358
19 years$7,122$5,827$4,734$3,823$3,071$2,048
20 years$6,695$5,414$4,345$3,462$2,743$1,782
21 years$6,310$5,043$3,996$3,142$2,454$1,553
22 years$5,959$4,708$3,683$2,857$2,200$1,355
23 years$5,640$4,403$3,401$2,602$1,975$1,184
24 years$5,347$4,125$3,145$2,373$1,775$1,035
25 years$5,079$3,871$2,913$2,167$1,597$906
26 years$4,831$3,639$2,702$1,982$1,439$793
27 years$4,603$3,424$2,509$1,814$1,297$695
28 years$4,391$3,227$2,332$1,662$1,170$609
29 years$4,194$3,044$2,170$1,524$1,057$535
30 years$4,010$2,875$2,022$1,399$955$469
31 years$3,839$2,718$1,885$1,285$863$412
32 years$3,678$2,571$1,758$1,180$781$362
33 years$3,528$2,435$1,642$1,086$707$318
34 years$3,387$2,308$1,534$999$640$279
35 years$3,254$2,189$1,434$919$580$245
36 years$3,129$2,078$1,342$847$525$216
37 years$3,011$1,973$1,256$780$476$190
38 years$2,899$1,875$1,176$719$432$167
39 years$2,793$1,783$1,102$663$391$147
40 years$2,693$1,697$1,033$612$355$129
41 years$2,598$1,615$968$564$322$113
42 years$2,508$1,538$908$521$292$100
43 years$2,422$1,466$852$481$265$88
44 years$2,341$1,397$800$444$241$77
45 years$2,263$1,332$751$410$219$68
46 years$2,189$1,271$706$379$198$60
47 years$2,118$1,213$663$350$180$53
48 years$2,050$1,158$623$323$164$46
49 years$1,985$1,106$586$299$149$41
50 years$1,923$1,056$550$276$135$36

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $1,970,000, adding $6,553 every year, while hoping to spend $38,463 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: 34/38/28 Blend
67$1,970,000$1,970,000$1,970,000$1,970,000
68$2,177,699$2,073,289$2,042,754$2,233,104
69$2,358,900$2,133,956$2,070,262$2,336,128
70$2,557,295$2,196,307$2,097,403$2,443,251
71$2,774,596$2,260,383$2,124,123$2,558,027
72$3,012,690$2,326,226$2,150,366$2,681,163
73$3,273,654$2,393,882$2,176,073$2,813,438
74$3,559,778$2,463,393$2,201,183$2,955,709
75$3,873,581$2,534,805$2,225,628$3,108,920
76$4,217,839$2,608,163$2,249,340$3,274,107
77$4,595,610$2,683,515$2,272,244$3,452,415
78$5,010,262$2,760,906$2,294,263$3,645,102
79$5,465,503$2,840,385$2,315,316$3,853,553
80$5,965,422$2,922,001$2,335,316$4,079,294
81$6,514,518$3,005,803$2,354,173$4,324,005
82$7,117,753$3,091,841$2,371,791$4,589,537
83$7,780,588$3,180,165$2,388,070$4,877,928
84$8,509,042$3,270,827$2,402,905$5,191,422
85$9,309,745$3,363,879$2,416,183$5,532,493
86$10,190,003$3,459,374$2,427,790$5,903,866
87$11,157,864$3,557,363$2,437,600$6,308,540
88$12,222,193$3,657,901$2,445,487$6,749,823
89$13,392,760$3,761,041$2,451,314$7,231,356
90$14,680,327$3,866,838$2,454,939$7,757,154
91$16,096,754$3,975,347$2,456,213$8,331,639
92$17,655,107$4,086,622$2,454,980$8,959,682
93$19,369,780$4,200,719$2,451,074$9,646,651
94$21,256,636$4,317,693$2,444,324$10,398,463
95$23,333,153$4,437,600$2,434,548$11,221,636
96$25,618,587$4,560,494$2,421,558$12,123,353
97$28,134,156$4,686,433$2,405,154$13,111,528
98$30,903,242$4,815,470$2,385,129$14,194,883
99$33,951,606$4,947,661$2,361,264$15,383,031
100$37,307,635$5,083,061$2,333,331$16,686,562