Can I retire at age 68 with 2,320,000?

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 $2,320,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.4%
1 years$191,583$189,877$188,212$186,587$185,000$181,636
2 years$94,843$93,077$91,365$89,705$88,095$84,718
3 years$62,601$60,827$59,119$57,475$55,891$52,607
4 years$46,483$44,714$43,024$41,408$39,862$36,695
5 years$36,814$35,056$33,388$31,805$30,303$27,262
6 years$30,371$28,626$26,983$25,435$23,977$21,066
7 years$25,770$24,040$22,423$20,911$19,500$16,720
8 years$22,321$20,607$19,016$17,542$16,177$13,527
9 years$19,640$17,942$16,379$14,942$13,624$11,101
10 years$17,497$15,815$14,279$12,880$11,608$9,212
11 years$15,744$14,079$12,571$11,209$9,983$7,710
12 years$14,284$12,637$11,157$9,832$8,651$6,499
13 years$13,050$11,420$9,968$8,680$7,544$5,508
14 years$11,994$10,380$8,956$7,705$6,613$4,691
15 years$11,078$9,483$8,086$6,872$5,823$4,010
16 years$10,278$8,700$7,331$6,153$5,146$3,439
17 years$9,573$8,013$6,671$5,528$4,563$2,957
18 years$8,947$7,404$6,090$4,982$4,057$2,548
19 years$8,388$6,862$5,575$4,502$3,616$2,201
20 years$7,885$6,376$5,116$4,077$3,230$1,904
21 years$7,431$5,939$4,706$3,700$2,891$1,649
22 years$7,018$5,544$4,337$3,365$2,591$1,430
23 years$6,642$5,185$4,005$3,064$2,326$1,241
24 years$6,298$4,858$3,704$2,795$2,090$1,079
25 years$5,981$4,559$3,430$2,552$1,881$938
26 years$5,690$4,285$3,182$2,334$1,694$816
27 years$5,420$4,033$2,954$2,136$1,528$711
28 years$5,171$3,800$2,746$1,957$1,378$619
29 years$4,939$3,585$2,556$1,795$1,245$540
30 years$4,723$3,386$2,381$1,647$1,125$470
31 years$4,521$3,200$2,219$1,513$1,017$410
32 years$4,332$3,028$2,071$1,390$920$358
33 years$4,155$2,868$1,933$1,278$832$312
34 years$3,989$2,718$1,807$1,176$754$273
35 years$3,832$2,578$1,689$1,083$683$238
36 years$3,685$2,447$1,580$997$618$208
37 years$3,546$2,324$1,479$919$561$181
38 years$3,414$2,209$1,385$847$508$158
39 years$3,290$2,100$1,297$781$461$138
40 years$3,172$1,998$1,216$720$418$121
41 years$3,060$1,902$1,140$665$379$106
42 years$2,954$1,811$1,070$613$344$92
43 years$2,853$1,726$1,004$566$312$81
44 years$2,756$1,645$942$523$283$70
45 years$2,665$1,569$885$483$257$62
46 years$2,577$1,497$831$446$234$54
47 years$2,494$1,428$781$412$212$47
48 years$2,414$1,363$734$381$193$41
49 years$2,338$1,302$690$352$175$36
50 years$2,265$1,244$648$325$159$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $2,320,000, adding $4,191 every year, while hoping to spend $26,955 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: 36/50/14 Blend
67$2,320,000$2,320,000$2,320,000$2,320,000
68$2,560,963$2,438,003$2,402,043$2,641,985
69$2,793,501$2,528,785$2,453,832$2,791,521
70$3,048,855$2,623,112$2,506,452$2,949,973
71$3,329,323$2,721,130$2,559,902$3,120,445
72$3,637,438$2,822,989$2,614,183$3,304,023
73$3,975,988$2,928,847$2,669,290$3,501,894
74$4,348,049$3,038,870$2,725,221$3,715,365
75$4,757,004$3,153,229$2,781,970$3,945,867
76$5,206,584$3,272,103$2,839,532$4,194,975
77$5,700,900$3,395,680$2,897,900$4,464,415
78$6,244,477$3,524,154$2,957,066$4,756,085
79$6,842,306$3,657,729$3,017,019$5,072,069
80$7,499,881$3,796,618$3,077,749$5,414,657
81$8,223,257$3,941,041$3,139,242$5,786,366
82$9,019,108$4,091,230$3,201,485$6,189,963
83$9,894,783$4,247,427$3,264,461$6,628,487
84$10,858,382$4,409,882$3,328,152$7,105,281
85$11,918,830$4,578,860$3,392,538$7,624,021
86$13,085,960$4,754,633$3,457,597$8,188,749
87$14,370,607$4,937,488$3,523,305$8,803,910
88$15,784,708$5,127,725$3,589,636$9,474,393
89$17,341,420$5,325,655$3,656,559$10,205,576
90$19,055,236$5,531,603$3,724,045$11,003,377
91$20,942,128$5,745,910$3,792,059$11,874,304
92$23,019,696$5,968,931$3,860,565$12,825,521
93$25,307,333$6,201,036$3,929,521$13,864,910
94$27,826,406$6,442,612$3,998,886$15,001,145
95$30,600,464$6,694,064$4,068,612$16,243,774
96$33,655,452$6,955,814$4,138,652$17,603,304
97$37,019,962$7,228,302$4,208,950$19,091,301
98$40,725,498$7,511,990$4,279,450$20,720,499
99$44,806,779$7,807,357$4,350,092$22,504,912
100$49,302,060$8,114,907$4,420,809$24,459,973