Can I retire at age 68 with 2,030,000?

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 $2,030,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$167,636$166,142$164,685$163,264$161,875$160,251
2 years$82,988$81,442$79,944$78,492$77,083$75,448
3 years$54,776$53,223$51,729$50,291$48,905$47,308
4 years$40,672$39,125$37,646$36,232$34,879$33,334
5 years$32,213$30,674$29,215$27,829$26,515$25,025
6 years$26,575$25,048$23,610$22,255$20,980$19,549
7 years$22,549$21,035$19,620$18,297$17,063$15,689
8 years$19,531$18,031$16,639$15,349$14,155$12,840
9 years$17,185$15,699$14,331$13,074$11,921$10,663
10 years$15,310$13,838$12,494$11,270$10,157$8,957
11 years$13,776$12,319$11,000$9,808$8,735$7,591
12 years$12,499$11,057$9,762$8,603$7,570$6,481
13 years$11,419$9,992$8,722$7,595$6,601$5,565
14 years$10,494$9,083$7,837$6,742$5,786$4,803
15 years$9,694$8,297$7,075$6,013$5,095$4,162
16 years$8,994$7,613$6,415$5,384$4,503$3,619
17 years$8,377$7,011$5,837$4,837$3,993$3,157
18 years$7,829$6,478$5,329$4,359$3,550$2,760
19 years$7,339$6,004$4,878$3,939$3,164$2,418
20 years$6,899$5,579$4,477$3,568$2,826$2,123
21 years$6,502$5,197$4,118$3,238$2,529$1,867
22 years$6,141$4,851$3,795$2,944$2,267$1,644
23 years$5,812$4,537$3,504$2,681$2,035$1,449
24 years$5,510$4,251$3,241$2,445$1,829$1,279
25 years$5,234$3,989$3,002$2,233$1,646$1,130
26 years$4,979$3,749$2,784$2,042$1,483$999
27 years$4,743$3,529$2,585$1,869$1,337$884
28 years$4,524$3,325$2,403$1,712$1,206$783
29 years$4,321$3,137$2,236$1,570$1,089$693
30 years$4,132$2,962$2,083$1,441$984$614
31 years$3,956$2,800$1,942$1,324$890$545
32 years$3,790$2,650$1,812$1,216$805$483
33 years$3,635$2,509$1,692$1,119$728$429
34 years$3,490$2,378$1,581$1,029$659$381
35 years$3,353$2,256$1,478$947$597$338
36 years$3,224$2,141$1,383$873$541$300
37 years$3,102$2,034$1,294$804$490$266
38 years$2,987$1,933$1,212$741$445$237
39 years$2,878$1,838$1,135$683$403$210
40 years$2,775$1,748$1,064$630$366$187
41 years$2,677$1,664$998$581$332$166
42 years$2,584$1,585$936$537$301$148
43 years$2,496$1,510$878$495$273$131
44 years$2,412$1,440$824$457$248$117
45 years$2,332$1,373$774$422$225$104
46 years$2,255$1,310$727$390$204$92
47 years$2,182$1,250$683$360$186$82
48 years$2,113$1,193$642$333$169$73
49 years$2,046$1,139$603$308$153$65
50 years$1,982$1,088$567$285$139$58

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $2,030,000, adding $2,055 every year, while hoping to spend $31,544 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: 57/22/21 Blend
67$2,030,000$2,030,000$2,030,000$2,030,000
68$2,239,180$2,131,590$2,100,125$2,354,086
69$2,434,013$2,202,475$2,136,916$2,503,523
70$2,647,663$2,275,777$2,173,883$2,662,745
71$2,882,014$2,351,579$2,210,998$2,835,582
72$3,139,145$2,429,971$2,248,231$3,023,354
73$3,421,342$2,511,045$2,285,552$3,227,511
74$3,731,126$2,594,893$2,322,925$3,449,652
75$4,071,274$2,681,616$2,360,316$3,691,536
76$4,444,844$2,771,315$2,397,686$3,955,098
77$4,855,204$2,864,096$2,434,995$4,242,470
78$5,306,066$2,960,067$2,472,198$4,556,000
79$5,801,518$3,059,344$2,509,251$4,898,273
80$6,346,065$3,162,044$2,546,102$5,272,133
81$6,944,669$3,268,289$2,582,702$5,680,715
82$7,602,796$3,378,206$2,618,993$6,127,471
83$8,326,470$3,491,927$2,654,918$6,616,201
84$9,122,326$3,609,588$2,690,414$7,151,092
85$9,997,677$3,731,331$2,725,416$7,736,755
86$10,960,576$3,857,303$2,759,855$8,378,269
87$12,019,901$3,987,656$2,793,655$9,081,228
88$13,185,428$4,122,549$2,826,741$9,851,794
89$14,467,934$4,262,146$2,859,028$10,696,756
90$15,879,290$4,406,617$2,890,432$11,623,591
91$17,432,576$4,556,140$2,920,860$12,640,536
92$19,142,205$4,710,898$2,950,216$13,756,668
93$21,024,059$4,871,081$2,978,397$14,981,983
94$23,095,637$5,036,888$3,005,297$16,327,496
95$25,376,220$5,208,523$3,030,803$17,805,342
96$27,887,055$5,386,201$3,054,795$19,428,889
97$30,651,552$5,570,143$3,077,148$21,212,867
98$33,695,509$5,760,578$3,097,731$23,173,506
99$37,047,350$5,957,746$3,116,404$25,328,684
100$40,738,399$6,161,894$3,133,023$27,698,103