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%16.6%
1 years$162,681$161,232$159,818$158,438$157,091$152,859
2 years$80,535$79,035$77,582$76,172$74,805$70,572
3 years$53,157$51,650$50,200$48,804$47,459$43,357
4 years$39,470$37,968$36,533$35,161$33,848$29,909
5 years$31,260$29,768$28,351$27,007$25,731$21,965
6 years$25,789$24,308$22,912$21,598$20,360$16,771
7 years$21,883$20,413$19,040$17,757$16,558$13,146
8 years$18,954$17,498$16,147$14,896$13,737$10,500
9 years$16,677$15,235$13,908$12,688$11,568$8,504
10 years$14,857$13,429$12,125$10,937$9,857$6,961
11 years$13,369$11,955$10,675$9,518$8,477$5,746
12 years$12,129$10,730$9,474$8,349$7,346$4,774
13 years$11,082$9,697$8,464$7,371$6,406$3,988
14 years$10,184$8,814$7,605$6,543$5,615$3,345
15 years$9,407$8,052$6,866$5,835$4,944$2,816
16 years$8,728$7,388$6,225$5,225$4,370$2,377
17 years$8,129$6,804$5,665$4,694$3,875$2,012
18 years$7,598$6,287$5,171$4,231$3,445$1,706
19 years$7,122$5,827$4,734$3,823$3,071$1,450
20 years$6,695$5,414$4,345$3,462$2,743$1,233
21 years$6,310$5,043$3,996$3,142$2,454$1,050
22 years$5,959$4,708$3,683$2,857$2,200$896
23 years$5,640$4,403$3,401$2,602$1,975$764
24 years$5,347$4,125$3,145$2,373$1,775$653
25 years$5,079$3,871$2,913$2,167$1,597$558
26 years$4,831$3,639$2,702$1,982$1,439$477
27 years$4,603$3,424$2,509$1,814$1,297$408
28 years$4,391$3,227$2,332$1,662$1,170$349
29 years$4,194$3,044$2,170$1,524$1,057$299
30 years$4,010$2,875$2,022$1,399$955$256
31 years$3,839$2,718$1,885$1,285$863$219
32 years$3,678$2,571$1,758$1,180$781$188
33 years$3,528$2,435$1,642$1,086$707$161
34 years$3,387$2,308$1,534$999$640$138
35 years$3,254$2,189$1,434$919$580$118
36 years$3,129$2,078$1,342$847$525$101
37 years$3,011$1,973$1,256$780$476$87
38 years$2,899$1,875$1,176$719$432$74
39 years$2,793$1,783$1,102$663$391$64
40 years$2,693$1,697$1,033$612$355$55
41 years$2,598$1,615$968$564$322$47
42 years$2,508$1,538$908$521$292$40
43 years$2,422$1,466$852$481$265$34
44 years$2,341$1,397$800$444$241$30
45 years$2,263$1,332$751$410$219$25
46 years$2,189$1,271$706$379$198$22
47 years$2,118$1,213$663$350$180$19
48 years$2,050$1,158$623$323$164$16
49 years$1,985$1,106$586$299$149$14
50 years$1,923$1,056$550$276$135$12

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 $5,351 every year, while hoping to spend $24,053 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: 67/22/11 Blend
67$1,970,000$1,970,000$1,970,000$1,970,000
68$2,176,460$2,072,050$2,041,515$2,316,787
69$2,372,866$2,147,988$2,084,313$2,486,769
70$2,588,500$2,226,841$2,127,739$2,669,182
71$2,825,297$2,308,726$2,171,789$2,867,992
72$3,085,390$2,393,766$2,216,456$3,084,804
73$3,371,127$2,482,088$2,261,735$3,321,379
74$3,685,097$2,573,825$2,307,618$3,579,658
75$4,030,151$2,669,116$2,354,097$3,861,778
76$4,409,429$2,768,106$2,401,161$4,170,090
77$4,826,391$2,870,944$2,448,801$4,507,182
78$5,284,851$2,977,788$2,497,004$4,875,904
79$5,789,008$3,088,801$2,545,755$5,279,394
80$6,343,490$3,204,156$2,595,041$5,721,105
81$6,953,394$3,324,028$2,644,844$6,204,842
82$7,624,340$3,448,605$2,695,145$6,734,793
83$8,362,515$3,578,079$2,745,925$7,315,570
84$9,174,740$3,712,653$2,797,162$7,952,253
85$10,068,528$3,852,538$2,848,832$8,650,436
86$11,052,158$3,997,952$2,900,908$9,416,278
87$12,134,753$4,149,127$2,953,363$10,256,566
88$13,326,364$4,306,300$3,006,166$11,178,771
89$14,638,065$4,469,721$3,059,285$12,191,127
90$16,082,062$4,639,651$3,112,685$13,302,698
91$17,671,799$4,816,361$3,166,327$14,523,473
92$19,422,095$5,000,135$3,220,172$15,864,451
93$21,349,276$5,191,269$3,274,175$17,337,751
94$23,471,332$5,390,071$3,328,290$18,956,722
95$25,808,088$5,596,865$3,382,467$20,736,070
96$28,381,387$5,811,985$3,436,654$22,691,995
97$31,215,300$6,035,784$3,490,794$24,842,344
98$34,336,352$6,268,628$3,544,826$27,206,779
99$37,773,769$6,510,900$3,598,687$29,806,960
100$41,559,758$6,762,999$3,652,308$32,666,752