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

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 $2,380,000?

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%
1 years$196,538$194,788$193,080$191,412$189,785$185,046
2 years$97,296$95,484$93,728$92,025$90,374$85,630
3 years$64,220$62,400$60,648$58,961$57,337$52,736
4 years$47,685$45,871$44,136$42,478$40,893$36,471
5 years$37,766$35,963$34,252$32,627$31,086$26,854
6 years$31,156$29,367$27,680$26,092$24,597$20,560
7 years$26,437$24,662$23,003$21,452$20,004$16,162
8 years$22,899$21,140$19,508$17,996$16,596$12,947
9 years$20,148$18,406$16,802$15,328$13,976$10,518
10 years$17,949$16,224$14,649$13,213$11,908$8,636
11 years$16,151$14,443$12,896$11,499$10,241$7,151
12 years$14,654$12,964$11,445$10,086$8,875$5,961
13 years$13,388$11,715$10,226$8,905$7,739$4,996
14 years$12,304$10,649$9,188$7,905$6,784$4,205
15 years$11,365$9,728$8,295$7,050$5,973$3,553
16 years$10,544$8,925$7,521$6,312$5,279$3,010
17 years$9,821$8,220$6,844$5,671$4,681$2,557
18 years$9,179$7,595$6,247$5,111$4,162$2,176
19 years$8,605$7,039$5,719$4,618$3,710$1,856
20 years$8,089$6,541$5,249$4,183$3,314$1,585
21 years$7,623$6,093$4,828$3,796$2,965$1,355
22 years$7,199$5,688$4,450$3,452$2,658$1,160
23 years$6,814$5,319$4,108$3,143$2,386$994
24 years$6,460$4,984$3,800$2,867$2,145$852
25 years$6,136$4,677$3,519$2,618$1,930$731
26 years$5,837$4,396$3,264$2,394$1,738$627
27 years$5,561$4,137$3,031$2,191$1,567$539
28 years$5,305$3,898$2,818$2,008$1,414$463
29 years$5,066$3,678$2,622$1,841$1,277$398
30 years$4,845$3,473$2,442$1,690$1,154$342
31 years$4,638$3,283$2,277$1,552$1,043$294
32 years$4,444$3,107$2,124$1,426$944$253
33 years$4,262$2,942$1,983$1,311$854$218
34 years$4,092$2,788$1,853$1,207$773$187
35 years$3,931$2,645$1,733$1,111$700$161
36 years$3,780$2,510$1,621$1,023$634$139
37 years$3,637$2,384$1,517$943$575$119
38 years$3,502$2,266$1,421$869$521$103
39 years$3,375$2,155$1,331$801$473$88
40 years$3,254$2,050$1,248$739$429$76
41 years$3,139$1,951$1,170$682$389$66
42 years$3,030$1,858$1,097$629$353$56
43 years$2,926$1,771$1,030$581$320$49
44 years$2,828$1,688$967$536$291$42
45 years$2,734$1,609$908$495$264$36
46 years$2,644$1,535$852$457$240$31
47 years$2,559$1,465$801$423$218$27
48 years$2,477$1,399$753$391$198$23
49 years$2,399$1,336$707$361$180$20
50 years$2,324$1,276$665$334$163$17

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 $6,069 every year, while hoping to spend $23,074 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: 48/31/21 Blend
67$2,380,000$2,380,000$2,380,000$2,380,000
68$2,629,020$2,502,880$2,465,990$2,739,319
69$2,872,630$2,600,971$2,524,050$2,914,871
70$3,140,314$2,703,094$2,583,282$3,102,585
71$3,434,504$2,809,424$2,643,700$3,305,947
72$3,757,879$2,920,142$2,705,320$3,526,436
73$4,113,390$3,035,436$2,768,155$3,765,677
74$4,504,287$3,155,503$2,832,220$4,025,457
75$4,934,153$3,280,551$2,897,527$4,307,742
76$5,406,933$3,410,795$2,964,091$4,614,691
77$5,926,976$3,546,460$3,031,924$4,948,680
78$6,499,072$3,687,781$3,101,038$5,312,323
79$7,128,500$3,835,005$3,171,445$5,708,494
80$7,821,075$3,988,388$3,243,157$6,140,356
81$8,583,205$4,148,199$3,316,183$6,611,388
82$9,421,950$4,314,719$3,390,533$7,125,418
83$10,345,090$4,488,241$3,466,217$7,686,658
84$11,361,196$4,669,072$3,543,242$8,299,744
85$12,479,713$4,857,532$3,621,616$8,969,778
86$13,711,049$5,053,956$3,701,345$9,702,375
87$15,066,671$5,258,695$3,782,435$10,503,716
88$16,559,215$5,472,115$3,864,890$11,380,606
89$18,202,605$5,694,598$3,948,714$12,340,535
90$20,012,182$5,926,544$4,033,907$13,391,748
91$22,004,852$6,168,373$4,120,471$14,543,324
92$24,199,245$6,420,522$4,208,405$15,805,260
93$26,615,888$6,683,447$4,297,707$17,188,562
94$29,277,401$6,957,628$4,388,372$18,705,350
95$32,208,709$7,243,565$4,480,395$20,368,970
96$35,437,278$7,541,780$4,573,769$22,194,120
97$38,993,374$7,852,821$4,668,484$24,196,984
98$42,910,350$8,177,261$4,764,530$26,395,388
99$47,224,955$8,515,697$4,861,892$28,808,964
100$51,977,690$8,868,755$4,960,554$31,459,334