Can I retire at age 68 with 1,980,000?

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 $1,980,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$163,507$162,050$160,629$159,242$157,888$153,946
2 years$80,944$79,436$77,975$76,559$75,185$71,238
3 years$53,427$51,913$50,455$49,052$47,700$43,873
4 years$39,671$38,161$36,718$35,339$34,020$30,341
5 years$31,419$29,919$28,495$27,144$25,862$22,341
6 years$25,920$24,431$23,028$21,707$20,463$17,105
7 years$21,994$20,517$19,137$17,847$16,642$13,446
8 years$19,050$17,587$16,229$14,971$13,806$10,771
9 years$16,762$15,313$13,978$12,752$11,627$8,750
10 years$14,932$13,497$12,187$10,992$9,907$7,185
11 years$13,437$12,016$10,729$9,567$8,520$5,949
12 years$12,191$10,785$9,522$8,391$7,383$4,959
13 years$11,138$9,746$8,507$7,408$6,438$4,156
14 years$10,236$8,859$7,644$6,576$5,644$3,499
15 years$9,455$8,093$6,901$5,865$4,969$2,956
16 years$8,772$7,425$6,257$5,251$4,392$2,504
17 years$8,170$6,838$5,693$4,718$3,894$2,127
18 years$7,636$6,319$5,197$4,252$3,463$1,811
19 years$7,159$5,856$4,758$3,842$3,086$1,544
20 years$6,729$5,442$4,367$3,480$2,757$1,318
21 years$6,342$5,069$4,016$3,158$2,467$1,127
22 years$5,989$4,732$3,702$2,871$2,211$965
23 years$5,668$4,425$3,418$2,615$1,985$827
24 years$5,375$4,146$3,161$2,385$1,784$709
25 years$5,105$3,891$2,928$2,178$1,605$608
26 years$4,856$3,657$2,715$1,992$1,446$522
27 years$4,626$3,442$2,521$1,823$1,304$448
28 years$4,413$3,243$2,344$1,670$1,176$385
29 years$4,215$3,059$2,181$1,532$1,062$331
30 years$4,030$2,889$2,032$1,406$960$285
31 years$3,858$2,731$1,894$1,291$868$245
32 years$3,697$2,584$1,767$1,186$785$210
33 years$3,546$2,448$1,650$1,091$710$181
34 years$3,404$2,320$1,542$1,004$643$156
35 years$3,270$2,200$1,441$924$583$134
36 years$3,145$2,088$1,348$851$528$115
37 years$3,026$1,983$1,262$784$478$99
38 years$2,914$1,885$1,182$723$434$86
39 years$2,808$1,792$1,107$666$393$74
40 years$2,707$1,705$1,038$615$357$63
41 years$2,612$1,623$973$567$324$55
42 years$2,521$1,546$913$523$294$47
43 years$2,435$1,473$857$483$267$40
44 years$2,353$1,404$804$446$242$35
45 years$2,274$1,339$755$412$220$30
46 years$2,200$1,277$709$381$199$26
47 years$2,129$1,219$666$352$181$22
48 years$2,060$1,164$626$325$164$19
49 years$1,995$1,111$588$300$149$17
50 years$1,933$1,061$553$278$136$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $1,980,000, adding $6,957 every year, while hoping to spend $50,657 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: 43/43/14 Blend
67$1,980,000$1,980,000$1,980,000$1,980,000
68$2,189,136$2,084,196$2,053,506$2,274,085
69$2,358,529$2,132,423$2,068,400$2,382,514
70$2,543,503$2,181,315$2,082,095$2,494,319
71$2,745,592$2,230,852$2,094,497$2,614,342
72$2,966,489$2,281,010$2,105,509$2,743,360
73$3,208,053$2,331,762$2,115,026$2,882,227
74$3,472,335$2,383,078$2,122,939$3,031,886
75$3,761,591$2,434,927$2,129,136$3,193,374
76$4,078,306$2,487,271$2,133,495$3,367,837
77$4,425,216$2,540,071$2,135,890$3,556,534
78$4,805,335$2,593,281$2,136,190$3,760,854
79$5,221,983$2,646,855$2,134,255$3,982,328
80$5,678,813$2,700,739$2,129,940$4,222,643
81$6,179,851$2,754,874$2,123,093$4,483,660
82$6,729,532$2,809,200$2,113,553$4,767,428
83$7,332,740$2,863,646$2,101,152$5,076,205
84$7,994,854$2,918,139$2,085,715$5,412,484
85$8,721,800$2,972,599$2,067,058$5,779,008
86$9,520,106$3,026,938$2,044,986$6,178,805
87$10,396,963$3,081,064$2,019,299$6,615,211
88$11,360,291$3,134,875$1,989,784$7,091,902
89$12,418,819$3,188,262$1,956,220$7,612,934
90$13,582,160$3,241,108$1,918,375$8,182,776
91$14,860,905$3,293,287$1,876,005$8,806,355
92$16,266,723$3,344,664$1,828,857$9,489,102
93$17,812,470$3,395,093$1,776,664$10,237,006
94$19,512,308$3,444,420$1,719,150$11,056,668
95$21,381,844$3,492,477$1,656,021$11,955,366
96$23,438,270$3,539,086$1,586,976$12,941,123
97$25,700,529$3,584,056$1,511,695$14,022,782
98$28,189,492$3,627,184$1,429,846$15,210,095
99$30,928,156$3,668,252$1,341,081$16,513,810
100$33,941,858$3,707,027$1,245,038$17,945,777