Can I retire at age 68 with 2,220,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $2,220,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.4%
1 years$183,326$181,693$180,099$178,544$177,026$173,098
2 years$90,755$89,065$87,427$85,839$84,298$80,361
3 years$59,902$58,205$56,571$54,998$53,482$49,659
4 years$44,479$42,787$41,169$39,623$38,144$34,464
5 years$35,228$33,545$31,949$30,434$28,996$25,471
6 years$29,062$27,392$25,820$24,338$22,944$19,576
7 years$24,659$23,004$21,456$20,010$18,660$15,449
8 years$21,359$19,719$18,197$16,786$15,480$12,426
9 years$18,794$17,169$15,673$14,298$13,036$10,138
10 years$16,742$15,133$13,664$12,325$11,108$8,360
11 years$15,065$13,472$12,029$10,726$9,553$6,954
12 years$13,669$12,092$10,676$9,408$8,278$5,823
13 years$12,488$10,928$9,538$8,306$7,219$4,903
14 years$11,477$9,933$8,570$7,373$6,328$4,147
15 years$10,601$9,074$7,738$6,576$5,572$3,520
16 years$9,835$8,325$7,015$5,888$4,924$2,998
17 years$9,161$7,667$6,384$5,290$4,366$2,559
18 years$8,562$7,085$5,827$4,768$3,882$2,190
19 years$8,026$6,566$5,335$4,308$3,460$1,877
20 years$7,545$6,102$4,896$3,902$3,091$1,611
21 years$7,110$5,683$4,503$3,541$2,766$1,385
22 years$6,715$5,305$4,150$3,220$2,479$1,192
23 years$6,356$4,962$3,832$2,932$2,226$1,027
24 years$6,026$4,649$3,544$2,674$2,000$885
25 years$5,724$4,363$3,283$2,442$1,800$764
26 years$5,445$4,100$3,044$2,233$1,621$659
27 years$5,187$3,859$2,827$2,044$1,462$569
28 years$4,948$3,636$2,628$1,873$1,319$492
29 years$4,726$3,430$2,446$1,717$1,191$425
30 years$4,519$3,240$2,278$1,576$1,076$368
31 years$4,326$3,062$2,124$1,448$973$318
32 years$4,145$2,898$1,982$1,330$880$275
33 years$3,976$2,744$1,850$1,223$797$238
34 years$3,817$2,601$1,729$1,126$721$206
35 years$3,667$2,467$1,616$1,036$653$178
36 years$3,526$2,341$1,512$954$592$154
37 years$3,393$2,224$1,415$879$536$134
38 years$3,267$2,113$1,325$810$486$116
39 years$3,148$2,010$1,242$747$441$100
40 years$3,035$1,912$1,164$689$400$87
41 years$2,928$1,820$1,091$636$363$75
42 years$2,826$1,733$1,024$587$329$65
43 years$2,730$1,652$960$542$299$56
44 years$2,638$1,574$902$500$271$49
45 years$2,550$1,501$847$462$246$42
46 years$2,466$1,432$795$427$224$37
47 years$2,387$1,367$747$394$203$32
48 years$2,310$1,305$702$364$184$28
49 years$2,237$1,246$660$337$167$24
50 years$2,167$1,190$620$311$152$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $2,220,000, adding $2,246 every year, while hoping to spend $26,238 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: 69/22/9 Blend
67$2,220,000$2,220,000$2,220,000$2,220,000
68$2,448,757$2,331,097$2,296,687$2,613,387
69$2,670,613$2,417,403$2,345,709$2,809,105
70$2,914,219$2,507,060$2,395,494$3,019,734
71$3,181,766$2,600,202$2,446,039$3,249,444
72$3,475,667$2,696,973$2,497,342$3,500,104
73$3,798,581$2,797,520$2,549,399$3,773,769
74$4,153,436$2,901,999$2,602,204$4,072,701
75$4,543,460$3,010,570$2,655,751$4,399,390
76$4,972,207$3,123,402$2,710,033$4,756,579
77$5,443,593$3,240,670$2,765,040$5,147,283
78$5,961,934$3,362,558$2,820,763$5,574,826
79$6,531,983$3,489,255$2,877,191$6,042,866
80$7,158,978$3,620,961$2,934,310$6,555,429
81$7,848,690$3,757,884$2,992,105$7,116,951
82$8,607,476$3,900,240$3,050,560$7,732,315
83$9,442,342$4,048,256$3,109,658$8,406,897
84$10,361,008$4,202,167$3,169,378$9,146,620
85$11,371,976$4,362,219$3,229,698$9,958,006
86$12,484,620$4,528,669$3,290,594$10,848,237
87$13,709,262$4,701,786$3,352,041$11,825,224
88$15,057,282$4,881,848$3,414,009$12,897,679
89$16,541,215$5,069,148$3,476,468$14,075,200
90$18,174,873$5,263,991$3,539,384$15,368,357
91$19,973,478$5,466,694$3,602,722$16,788,793
92$21,953,801$5,677,591$3,666,441$18,349,335
93$24,134,322$5,897,026$3,730,500$20,064,110
94$26,535,405$6,125,362$3,794,854$21,948,683
95$29,179,489$6,362,978$3,859,454$24,020,198
96$32,091,300$6,610,267$3,924,249$26,297,543
97$35,298,084$6,867,641$3,989,183$28,801,525
98$38,829,864$7,135,532$4,054,196$31,555,068
99$42,719,724$7,414,387$4,119,226$34,583,425
100$47,004,121$7,704,676$4,184,205$37,914,419