Can I retire at age 68 with 2,040,000?

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 $2,040,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$168,461$166,961$165,497$164,068$162,672$161,444
2 years$83,397$81,843$80,338$78,879$77,463$76,225
3 years$55,046$53,486$51,984$50,538$49,146$47,936
4 years$40,873$39,318$37,831$36,410$35,051$33,879
5 years$32,371$30,825$29,359$27,966$26,645$25,514
6 years$26,705$25,171$23,726$22,365$21,084$19,995
7 years$22,660$21,139$19,716$18,387$17,147$16,101
8 years$19,627$18,120$16,721$15,425$14,225$13,222
9 years$17,270$15,777$14,402$13,138$11,979$11,019
10 years$15,385$13,906$12,556$11,326$10,207$9,289
11 years$13,844$12,380$11,054$9,857$8,778$7,902
12 years$12,560$11,112$9,810$8,646$7,607$6,772
13 years$11,475$10,042$8,765$7,633$6,634$5,838
14 years$10,546$9,128$7,875$6,775$5,815$5,058
15 years$9,741$8,338$7,110$6,043$5,120$4,401
16 years$9,038$7,650$6,446$5,410$4,525$3,843
17 years$8,418$7,045$5,866$4,861$4,012$3,365
18 years$7,867$6,510$5,355$4,381$3,567$2,955
19 years$7,376$6,034$4,902$3,959$3,180$2,601
20 years$6,933$5,607$4,499$3,585$2,840$2,293
21 years$6,534$5,223$4,138$3,254$2,542$2,025
22 years$6,171$4,875$3,814$2,958$2,278$1,792
23 years$5,840$4,560$3,522$2,694$2,045$1,587
24 years$5,538$4,272$3,257$2,457$1,838$1,407
25 years$5,259$4,009$3,016$2,244$1,654$1,249
26 years$5,003$3,768$2,798$2,052$1,490$1,109
27 years$4,766$3,546$2,598$1,878$1,343$986
28 years$4,547$3,341$2,415$1,721$1,212$877
29 years$4,343$3,152$2,247$1,578$1,094$781
30 years$4,153$2,977$2,093$1,448$989$695
31 years$3,975$2,814$1,952$1,330$894$620
32 years$3,809$2,663$1,821$1,222$809$552
33 years$3,653$2,522$1,700$1,124$732$493
34 years$3,507$2,390$1,589$1,034$663$439
35 years$3,370$2,267$1,485$952$600$392
36 years$3,240$2,152$1,389$877$544$350
37 years$3,118$2,044$1,300$808$493$312
38 years$3,002$1,942$1,218$745$447$279
39 years$2,893$1,847$1,141$687$405$249
40 years$2,789$1,757$1,069$633$368$222
41 years$2,691$1,673$1,003$584$333$199
42 years$2,597$1,593$941$539$303$178
43 years$2,508$1,518$883$498$275$159
44 years$2,424$1,447$828$460$249$142
45 years$2,343$1,380$778$424$226$127
46 years$2,266$1,316$731$392$205$113
47 years$2,193$1,256$686$362$187$101
48 years$2,123$1,199$645$335$169$91
49 years$2,056$1,145$606$309$154$81
50 years$1,992$1,094$570$286$140$72

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $2,040,000, adding $4,844 every year, while hoping to spend $36,756 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: 44/48/8 Blend
67$2,040,000$2,040,000$2,040,000$2,040,000
68$2,253,077$2,144,957$2,113,337$2,346,876
69$2,443,782$2,210,951$2,145,025$2,478,330
70$2,652,708$2,278,948$2,176,544$2,616,565
71$2,881,674$2,349,006$2,207,847$2,765,540
72$3,132,683$2,421,186$2,238,889$2,926,253
73$3,407,943$2,495,550$2,269,618$3,099,802
74$3,709,885$2,572,164$2,299,982$3,287,394
75$4,041,187$2,651,093$2,329,925$3,490,356
76$4,404,797$2,732,406$2,359,387$3,710,147
77$4,803,966$2,816,173$2,388,305$3,948,374
78$5,242,270$2,902,466$2,416,613$4,206,802
79$5,723,653$2,991,358$2,444,241$4,487,374
80$6,252,458$3,082,927$2,471,115$4,792,229
81$6,833,467$3,177,249$2,497,156$5,123,718
82$7,471,952$3,274,406$2,522,283$5,484,432
83$8,173,719$3,374,479$2,546,407$5,877,219
84$8,945,165$3,477,555$2,569,438$6,305,218
85$9,793,337$3,583,720$2,591,279$6,771,880
86$10,725,998$3,693,063$2,611,828$7,281,009
87$11,751,704$3,805,678$2,630,978$7,836,788
88$12,879,879$3,921,657$2,648,617$8,443,827
89$14,120,907$4,041,099$2,664,626$9,107,199
90$15,486,229$4,164,102$2,678,881$9,832,493
91$16,988,451$4,290,770$2,691,250$10,625,861
92$18,641,463$4,421,207$2,701,597$11,494,080
93$20,460,568$4,555,522$2,709,776$12,444,613
94$22,462,628$4,693,825$2,715,636$13,485,679
95$24,666,224$4,836,230$2,719,017$14,626,332
96$27,091,827$4,982,854$2,719,753$15,876,543
97$29,761,996$5,133,816$2,717,667$17,247,297
98$32,701,586$5,289,240$2,712,575$18,750,692
99$35,937,986$5,449,251$2,704,285$20,400,056
100$39,501,376$5,613,979$2,692,593$22,210,072