Can I retire at age 68 with 2,020,000?

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 $2,020,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.3%
1 years$166,810$165,324$163,874$162,459$161,078$155,054
2 years$82,579$81,041$79,551$78,105$76,704$70,704
3 years$54,506$52,961$51,474$50,043$48,664$42,877
4 years$40,472$38,932$37,460$36,053$34,708$29,177
5 years$32,054$30,523$29,071$27,692$26,384$21,125
6 years$26,444$24,925$23,493$22,146$20,877$15,893
7 years$22,438$20,932$19,523$18,207$16,978$12,268
8 years$19,435$17,942$16,557$15,274$14,085$9,643
9 years$17,101$15,622$14,261$13,010$11,862$7,683
10 years$15,234$13,770$12,433$11,214$10,107$6,183
11 years$13,708$12,259$10,946$9,760$8,692$5,015
12 years$12,437$11,003$9,714$8,561$7,533$4,093
13 years$11,363$9,943$8,679$7,558$6,569$3,356
14 years$10,443$9,038$7,798$6,709$5,758$2,763
15 years$9,646$8,256$7,040$5,983$5,070$2,282
16 years$8,949$7,575$6,383$5,357$4,481$1,890
17 years$8,335$6,976$5,808$4,814$3,973$1,568
18 years$7,790$6,447$5,302$4,338$3,532$1,303
19 years$7,303$5,975$4,854$3,920$3,149$1,085
20 years$6,865$5,552$4,455$3,550$2,812$904
21 years$6,470$5,171$4,098$3,222$2,517$754
22 years$6,110$4,827$3,777$2,929$2,256$629
23 years$5,783$4,515$3,487$2,668$2,025$526
24 years$5,483$4,230$3,225$2,433$1,820$440
25 years$5,208$3,970$2,987$2,222$1,638$368
26 years$4,954$3,731$2,770$2,032$1,475$307
27 years$4,720$3,511$2,572$1,860$1,330$257
28 years$4,502$3,309$2,391$1,704$1,200$215
29 years$4,300$3,121$2,225$1,563$1,084$180
30 years$4,112$2,948$2,073$1,434$979$151
31 years$3,936$2,787$1,932$1,317$885$126
32 years$3,772$2,637$1,803$1,210$801$106
33 years$3,618$2,497$1,683$1,113$725$89
34 years$3,473$2,367$1,573$1,024$656$74
35 years$3,337$2,245$1,471$943$594$62
36 years$3,208$2,131$1,376$868$538$52
37 years$3,087$2,023$1,288$800$488$44
38 years$2,973$1,923$1,206$737$442$37
39 years$2,864$1,829$1,130$680$401$31
40 years$2,762$1,740$1,059$627$364$26
41 years$2,664$1,656$993$579$330$22
42 years$2,572$1,577$931$534$300$18
43 years$2,484$1,503$874$493$272$15
44 years$2,400$1,432$820$455$247$13
45 years$2,320$1,366$770$420$224$11
46 years$2,244$1,303$723$388$203$9
47 years$2,172$1,244$680$359$185$7
48 years$2,102$1,187$639$331$168$6
49 years$2,036$1,134$600$306$152$5
50 years$1,972$1,083$564$283$138$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $2,020,000, adding $3,013 every year, while hoping to spend $42,961 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: 41/47/12 Blend
67$2,020,000$2,020,000$2,020,000$2,020,000
68$2,229,148$2,122,088$2,090,778$2,312,511
69$2,410,811$2,180,360$2,115,109$2,429,699
70$2,609,563$2,240,048$2,138,815$2,551,967
71$2,827,104$2,301,175$2,161,830$2,683,350
72$3,065,301$2,363,765$2,184,084$2,824,696
73$3,326,214$2,427,842$2,205,503$2,976,939
74$3,612,110$2,493,429$2,226,010$3,141,105
75$3,925,487$2,560,548$2,245,522$3,318,322
76$4,269,093$2,629,221$2,263,954$3,509,833
77$4,645,958$2,699,471$2,281,214$3,717,008
78$5,059,418$2,771,317$2,297,207$3,941,350
79$5,513,148$2,844,780$2,311,832$4,184,519
80$6,011,194$2,919,880$2,324,984$4,448,339
81$6,558,016$2,996,634$2,336,551$4,734,820
82$7,158,525$3,075,060$2,346,417$5,046,176
83$7,818,130$3,155,175$2,354,458$5,384,843
84$8,542,793$3,236,991$2,360,546$5,753,506
85$9,339,079$3,320,525$2,364,545$6,155,122
86$10,214,220$3,405,786$2,366,313$6,592,947
87$11,176,187$3,492,786$2,365,700$7,070,569
88$12,233,758$3,581,532$2,362,551$7,591,938
89$13,396,605$3,672,031$2,356,701$8,161,407
90$14,675,386$3,764,288$2,347,977$8,783,774
91$16,081,840$3,858,303$2,336,199$9,464,320
92$17,628,905$3,954,076$2,321,178$10,208,867
93$19,330,831$4,051,604$2,302,716$11,023,828
94$21,203,323$4,150,879$2,280,604$11,916,269
95$23,263,682$4,251,893$2,254,624$12,893,977
96$25,530,973$4,354,631$2,224,550$13,965,530
97$28,026,201$4,459,077$2,190,141$15,140,381
98$30,772,512$4,565,210$2,151,149$16,428,946
99$33,795,406$4,673,003$2,107,311$17,842,702
100$37,122,985$4,782,428$2,058,353$19,394,298