Can I retire at age 68 with 2,380,000?

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 $2,380,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16%
1 years$196,538$194,788$193,080$191,412$189,785$185,121
2 years$97,296$95,484$93,728$92,025$90,374$85,704
3 years$64,220$62,400$60,648$58,961$57,337$52,807
4 years$47,685$45,871$44,136$42,478$40,893$36,538
5 years$37,766$35,963$34,252$32,627$31,086$26,918
6 years$31,156$29,367$27,680$26,092$24,597$20,621
7 years$26,437$24,662$23,003$21,452$20,004$16,219
8 years$22,899$21,140$19,508$17,996$16,596$13,000
9 years$20,148$18,406$16,802$15,328$13,976$10,567
10 years$17,949$16,224$14,649$13,213$11,908$8,682
11 years$16,151$14,443$12,896$11,499$10,241$7,194
12 years$14,654$12,964$11,445$10,086$8,875$6,001
13 years$13,388$11,715$10,226$8,905$7,739$5,032
14 years$12,304$10,649$9,188$7,905$6,784$4,239
15 years$11,365$9,728$8,295$7,050$5,973$3,583
16 years$10,544$8,925$7,521$6,312$5,279$3,039
17 years$9,821$8,220$6,844$5,671$4,681$2,583
18 years$9,179$7,595$6,247$5,111$4,162$2,200
19 years$8,605$7,039$5,719$4,618$3,710$1,877
20 years$8,089$6,541$5,249$4,183$3,314$1,604
21 years$7,623$6,093$4,828$3,796$2,965$1,373
22 years$7,199$5,688$4,450$3,452$2,658$1,176
23 years$6,814$5,319$4,108$3,143$2,386$1,008
24 years$6,460$4,984$3,800$2,867$2,145$865
25 years$6,136$4,677$3,519$2,618$1,930$743
26 years$5,837$4,396$3,264$2,394$1,738$638
27 years$5,561$4,137$3,031$2,191$1,567$549
28 years$5,305$3,898$2,818$2,008$1,414$472
29 years$5,066$3,678$2,622$1,841$1,277$406
30 years$4,845$3,473$2,442$1,690$1,154$349
31 years$4,638$3,283$2,277$1,552$1,043$300
32 years$4,444$3,107$2,124$1,426$944$259
33 years$4,262$2,942$1,983$1,311$854$223
34 years$4,092$2,788$1,853$1,207$773$192
35 years$3,931$2,645$1,733$1,111$700$165
36 years$3,780$2,510$1,621$1,023$634$142
37 years$3,637$2,384$1,517$943$575$123
38 years$3,502$2,266$1,421$869$521$106
39 years$3,375$2,155$1,331$801$473$91
40 years$3,254$2,050$1,248$739$429$78
41 years$3,139$1,951$1,170$682$389$68
42 years$3,030$1,858$1,097$629$353$58
43 years$2,926$1,771$1,030$581$320$50
44 years$2,828$1,688$967$536$291$43
45 years$2,734$1,609$908$495$264$37
46 years$2,644$1,535$852$457$240$32
47 years$2,559$1,465$801$423$218$28
48 years$2,477$1,399$753$391$198$24
49 years$2,399$1,336$707$361$180$21
50 years$2,324$1,276$665$334$163$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $2,380,000, adding $3,136 every year, while hoping to spend $51,322 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: 55/29/16 Blend
67$2,380,000$2,380,000$2,380,000$2,380,000
68$2,625,995$2,499,855$2,462,965$2,759,127
69$2,839,240$2,567,741$2,490,868$2,918,018
70$3,072,516$2,637,234$2,517,986$3,085,162
71$3,327,812$2,708,358$2,544,238$3,266,008
72$3,607,318$2,781,137$2,569,539$3,461,879
73$3,913,446$2,855,594$2,593,800$3,674,229
74$4,248,852$2,931,753$2,616,926$3,904,658
75$4,616,460$3,009,634$2,638,819$4,154,930
76$5,019,493$3,089,260$2,659,373$4,426,986
77$5,461,498$3,170,650$2,678,478$4,722,966
78$5,946,382$3,253,824$2,696,019$5,045,224
79$6,478,452$3,338,799$2,711,874$5,396,356
80$7,062,446$3,425,593$2,725,914$5,779,217
81$7,703,589$3,514,220$2,738,005$6,196,958
82$8,407,632$3,604,694$2,748,006$6,653,044
83$9,180,914$3,697,027$2,755,767$7,151,297
84$10,030,415$3,791,229$2,761,133$7,695,925
85$10,963,826$3,887,308$2,763,940$8,291,565
86$11,989,620$3,985,270$2,764,016$8,943,326
87$13,117,130$4,085,118$2,761,180$9,656,836
88$14,356,641$4,186,852$2,755,242$10,438,298
89$15,719,480$4,290,470$2,746,005$11,294,544
90$17,218,131$4,395,967$2,733,261$12,233,104
91$18,866,346$4,503,334$2,716,790$13,262,275
92$20,679,275$4,612,559$2,696,364$14,391,198
93$22,673,612$4,723,626$2,671,743$15,629,948
94$24,867,751$4,836,514$2,642,677$16,989,625
95$27,281,957$4,951,199$2,608,903$18,482,461
96$29,938,560$5,067,651$2,570,144$20,121,937
97$32,862,162$5,185,835$2,526,113$21,922,904
98$36,079,873$5,305,711$2,476,508$23,901,733
99$39,621,561$5,427,232$2,421,012$26,076,462
100$43,520,141$5,550,347$2,359,296$28,466,969