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%12.2%
1 years$166,810$165,324$163,874$162,459$161,078$159,595
2 years$82,579$81,041$79,551$78,105$76,704$75,210
3 years$54,506$52,961$51,474$50,043$48,664$47,205
4 years$40,472$38,932$37,460$36,053$34,708$33,295
5 years$32,054$30,523$29,071$27,692$26,384$25,022
6 years$26,444$24,925$23,493$22,146$20,877$19,567
7 years$22,438$20,932$19,523$18,207$16,978$15,722
8 years$19,435$17,942$16,557$15,274$14,085$12,881
9 years$17,101$15,622$14,261$13,010$11,862$10,710
10 years$15,234$13,770$12,433$11,214$10,107$9,007
11 years$13,708$12,259$10,946$9,760$8,692$7,643
12 years$12,437$11,003$9,714$8,561$7,533$6,533
13 years$11,363$9,943$8,679$7,558$6,569$5,618
14 years$10,443$9,038$7,798$6,709$5,758$4,855
15 years$9,646$8,256$7,040$5,983$5,070$4,213
16 years$8,949$7,575$6,383$5,357$4,481$3,668
17 years$8,335$6,976$5,808$4,814$3,973$3,204
18 years$7,790$6,447$5,302$4,338$3,532$2,805
19 years$7,303$5,975$4,854$3,920$3,149$2,462
20 years$6,865$5,552$4,455$3,550$2,812$2,164
21 years$6,470$5,171$4,098$3,222$2,517$1,906
22 years$6,110$4,827$3,777$2,929$2,256$1,681
23 years$5,783$4,515$3,487$2,668$2,025$1,484
24 years$5,483$4,230$3,225$2,433$1,820$1,312
25 years$5,208$3,970$2,987$2,222$1,638$1,161
26 years$4,954$3,731$2,770$2,032$1,475$1,028
27 years$4,720$3,511$2,572$1,860$1,330$911
28 years$4,502$3,309$2,391$1,704$1,200$808
29 years$4,300$3,121$2,225$1,563$1,084$717
30 years$4,112$2,948$2,073$1,434$979$636
31 years$3,936$2,787$1,932$1,317$885$565
32 years$3,772$2,637$1,803$1,210$801$502
33 years$3,618$2,497$1,683$1,113$725$446
34 years$3,473$2,367$1,573$1,024$656$397
35 years$3,337$2,245$1,471$943$594$353
36 years$3,208$2,131$1,376$868$538$314
37 years$3,087$2,023$1,288$800$488$279
38 years$2,973$1,923$1,206$737$442$248
39 years$2,864$1,829$1,130$680$401$221
40 years$2,762$1,740$1,059$627$364$197
41 years$2,664$1,656$993$579$330$175
42 years$2,572$1,577$931$534$300$156
43 years$2,484$1,503$874$493$272$139
44 years$2,400$1,432$820$455$247$124
45 years$2,320$1,366$770$420$224$110
46 years$2,244$1,303$723$388$203$98
47 years$2,172$1,244$680$359$185$87
48 years$2,102$1,187$639$331$168$78
49 years$2,036$1,134$600$306$152$69
50 years$1,972$1,083$564$283$138$62

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 $6,561 every year, while hoping to spend $33,313 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: 37/45/18 Blend
67$2,020,000$2,020,000$2,020,000$2,020,000
68$2,232,808$2,125,748$2,094,438$2,303,047
69$2,425,109$2,194,465$2,129,157$2,423,131
70$2,635,909$2,265,432$2,163,922$2,549,124
71$2,867,059$2,338,725$2,198,700$2,684,516
72$3,120,598$2,414,422$2,233,456$2,830,171
73$3,398,773$2,492,602$2,268,150$2,987,034
74$3,704,057$2,573,349$2,302,743$3,156,146
75$4,039,177$2,656,749$2,337,191$3,338,650
76$4,407,134$2,742,891$2,371,448$3,535,806
77$4,811,236$2,831,867$2,405,465$3,748,995
78$5,255,125$2,923,771$2,439,191$3,979,738
79$5,742,814$3,018,703$2,472,571$4,229,707
80$6,278,726$3,116,764$2,505,547$4,500,744
81$6,867,730$3,218,059$2,538,057$4,794,872
82$7,515,192$3,322,698$2,570,035$5,114,319
83$8,227,025$3,430,793$2,601,415$5,461,536
84$9,009,741$3,542,462$2,632,122$5,839,219
85$9,870,516$3,657,824$2,662,079$6,250,339
86$10,817,256$3,777,005$2,691,207$6,698,161
87$11,858,673$3,900,135$2,719,418$7,186,284
88$13,004,362$4,027,346$2,746,624$7,718,667
89$14,264,899$4,158,778$2,772,728$8,299,670
90$15,651,935$4,294,574$2,797,630$8,934,092
91$17,178,307$4,434,883$2,821,226$9,627,218
92$18,858,160$4,579,858$2,843,402$10,384,867
93$20,707,080$4,729,658$2,864,043$11,213,449
94$22,742,239$4,884,448$2,883,026$12,120,019
95$24,982,559$5,044,399$2,900,219$13,112,350
96$27,448,892$5,209,686$2,915,489$14,199,002
97$30,164,212$5,380,493$2,928,690$15,389,401
98$33,153,833$5,557,009$2,939,672$16,693,932
99$36,445,651$5,739,429$2,948,278$18,124,031
100$40,070,403$5,927,957$2,954,342$19,692,296