Can I retire at age 68 with 2,420,000?

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 $2,420,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11%
1 years$199,841$198,061$196,325$194,629$192,974$192,161
2 years$98,931$97,089$95,303$93,572$91,892$91,072
3 years$65,299$63,449$61,667$59,952$58,300$57,497
4 years$48,486$46,641$44,878$43,192$41,580$40,801
5 years$38,401$36,567$34,827$33,176$31,609$30,855
6 years$31,680$29,860$28,146$26,531$25,011$24,285
7 years$26,881$25,076$23,389$21,813$20,341$19,642
8 years$23,283$21,495$19,836$18,298$16,874$16,203
9 years$20,487$18,715$17,085$15,586$14,211$13,567
10 years$18,251$16,497$14,895$13,435$12,108$11,492
11 years$16,423$14,686$13,113$11,693$10,413$9,823
12 years$14,900$13,181$11,638$10,256$9,024$8,460
13 years$13,613$11,912$10,397$9,055$7,869$7,331
14 years$12,510$10,828$9,342$8,038$6,898$6,385
15 years$11,556$9,891$8,435$7,168$6,074$5,585
16 years$10,722$9,075$7,647$6,418$5,368$4,903
17 years$9,986$8,358$6,959$5,767$4,760$4,318
18 years$9,333$7,723$6,352$5,197$4,232$3,813
19 years$8,749$7,158$5,815$4,696$3,772$3,375
20 years$8,225$6,651$5,337$4,253$3,369$2,993
21 years$7,751$6,195$4,909$3,860$3,015$2,659
22 years$7,320$5,783$4,524$3,510$2,703$2,366
23 years$6,928$5,409$4,177$3,196$2,426$2,108
24 years$6,569$5,068$3,863$2,915$2,181$1,881
25 years$6,239$4,756$3,578$2,662$1,962$1,680
26 years$5,935$4,470$3,319$2,434$1,767$1,501
27 years$5,654$4,207$3,082$2,228$1,594$1,343
28 years$5,394$3,964$2,865$2,041$1,438$1,202
29 years$5,152$3,739$2,666$1,872$1,298$1,077
30 years$4,926$3,531$2,483$1,718$1,173$966
31 years$4,716$3,338$2,315$1,578$1,061$866
32 years$4,519$3,159$2,160$1,450$959$777
33 years$4,334$2,991$2,017$1,334$868$697
34 years$4,160$2,835$1,884$1,227$786$626
35 years$3,997$2,689$1,762$1,129$712$563
36 years$3,844$2,552$1,648$1,040$645$505
37 years$3,698$2,424$1,543$958$585$454
38 years$3,561$2,304$1,445$883$530$408
39 years$3,432$2,191$1,353$815$481$367
40 years$3,309$2,084$1,269$751$436$330
41 years$3,192$1,984$1,190$693$396$297
42 years$3,081$1,890$1,116$640$359$267
43 years$2,976$1,800$1,047$591$326$240
44 years$2,875$1,716$983$545$296$216
45 years$2,780$1,636$923$504$268$195
46 years$2,689$1,561$867$465$244$175
47 years$2,602$1,490$814$430$221$158
48 years$2,518$1,422$765$397$201$142
49 years$2,439$1,358$719$367$183$128
50 years$2,363$1,297$676$339$166$115

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $2,420,000, adding $5,672 every year, while hoping to spend $38,407 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: 53/26/21 Blend
67$2,420,000$2,420,000$2,420,000$2,420,000
68$2,672,691$2,544,431$2,506,921$2,798,637
69$2,904,440$2,628,243$2,550,038$2,969,659
70$3,158,541$2,714,875$2,593,312$3,151,184
71$3,437,233$2,804,424$2,636,708$3,347,897
72$3,742,981$2,896,991$2,680,189$3,561,257
73$4,078,503$2,992,682$2,723,713$3,792,871
74$4,446,791$3,091,604$2,767,238$4,044,508
75$4,851,141$3,193,870$2,810,718$4,318,112
76$5,295,184$3,299,596$2,854,104$4,615,826
77$5,782,921$3,408,904$2,897,344$4,940,009
78$6,318,756$3,521,918$2,940,382$5,293,256
79$6,907,546$3,638,769$2,983,161$5,678,424
80$7,554,636$3,759,589$3,025,618$6,098,660
81$8,265,919$3,884,519$3,067,687$6,557,430
82$9,047,886$4,013,703$3,109,297$7,058,547
83$9,907,686$4,147,291$3,150,374$7,606,215
84$10,853,199$4,285,437$3,190,841$8,205,058
85$11,893,105$4,428,303$3,230,613$8,860,174
86$13,036,967$4,576,055$3,269,604$9,577,174
87$14,295,321$4,728,865$3,307,720$10,362,240
88$15,679,779$4,886,914$3,344,863$11,222,180
89$17,203,130$5,050,387$3,380,930$12,164,493
90$18,879,470$5,219,476$3,415,811$13,197,441
91$20,724,327$5,394,382$3,449,392$14,330,123
92$22,754,813$5,575,312$3,481,552$15,572,563
93$24,989,782$5,762,480$3,512,162$16,935,804
94$27,450,008$5,956,110$3,541,087$18,432,012
95$30,158,382$6,156,432$3,568,187$20,074,589
96$33,140,127$6,363,687$3,593,311$21,878,299
97$36,423,036$6,578,124$3,616,303$23,859,410
98$40,037,734$6,800,000$3,636,998$26,035,843
99$44,017,967$7,029,585$3,655,221$28,427,344
100$48,400,920$7,267,155$3,670,791$31,055,667