Can I retire at age 68 with 2,440,000?

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 $2,440,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19%
1 years$201,493$199,698$197,947$196,238$194,569$187,516
2 years$99,749$97,891$96,091$94,345$92,652$85,624
3 years$65,839$63,973$62,177$60,448$58,782$52,000
4 years$48,887$47,027$45,249$43,549$41,924$35,439
5 years$38,719$36,870$35,115$33,450$31,870$25,699
6 years$31,942$30,107$28,378$26,750$25,218$19,366
7 years$27,103$25,284$23,582$21,993$20,509$14,974
8 years$23,476$21,673$20,000$18,449$17,014$11,792
9 years$20,656$18,870$17,226$15,715$14,328$9,412
10 years$18,402$16,633$15,018$13,546$12,208$7,589
11 years$16,558$14,807$13,221$11,789$10,500$6,168
12 years$15,023$13,290$11,734$10,341$9,099$5,043
13 years$13,725$12,011$10,483$9,129$7,934$4,145
14 years$12,614$10,917$9,419$8,104$6,955$3,419
15 years$11,651$9,973$8,504$7,227$6,124$2,830
16 years$10,810$9,150$7,710$6,471$5,412$2,348
17 years$10,069$8,427$7,016$5,814$4,799$1,953
18 years$9,410$7,787$6,405$5,240$4,267$1,627
19 years$8,822$7,217$5,863$4,735$3,803$1,357
20 years$8,293$6,706$5,381$4,288$3,397$1,134
21 years$7,815$6,247$4,950$3,892$3,040$948
22 years$7,381$5,831$4,562$3,539$2,725$793
23 years$6,985$5,454$4,212$3,223$2,446$664
24 years$6,623$5,110$3,895$2,939$2,199$556
25 years$6,291$4,795$3,608$2,684$1,978$466
26 years$5,984$4,507$3,346$2,454$1,782$391
27 years$5,701$4,241$3,107$2,247$1,607$328
28 years$5,438$3,997$2,889$2,058$1,450$275
29 years$5,194$3,770$2,688$1,888$1,309$231
30 years$4,967$3,561$2,504$1,732$1,183$194
31 years$4,754$3,366$2,334$1,591$1,069$163
32 years$4,556$3,185$2,178$1,462$967$137
33 years$4,370$3,016$2,033$1,345$875$115
34 years$4,195$2,859$1,900$1,237$793$96
35 years$4,030$2,711$1,776$1,139$718$81
36 years$3,875$2,573$1,662$1,049$650$68
37 years$3,729$2,444$1,555$966$590$57
38 years$3,591$2,323$1,457$891$534$48
39 years$3,460$2,209$1,365$821$485$40
40 years$3,336$2,102$1,279$758$440$34
41 years$3,218$2,000$1,199$699$399$28
42 years$3,106$1,905$1,125$645$362$24
43 years$3,000$1,815$1,056$595$328$20
44 years$2,899$1,730$991$550$298$17
45 years$2,803$1,650$930$508$271$14
46 years$2,711$1,574$874$469$246$12
47 years$2,623$1,502$821$433$223$10
48 years$2,539$1,434$772$400$203$8
49 years$2,459$1,369$725$370$184$7
50 years$2,382$1,308$682$342$167$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $2,440,000, adding $5,111 every year, while hoping to spend $56,340 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: 27/43/30 Blend
67$2,440,000$2,440,000$2,440,000$2,440,000
68$2,694,152$2,564,832$2,527,012$2,741,728
69$2,909,010$2,630,563$2,551,722$2,846,793
70$3,143,896$2,697,627$2,575,371$2,954,374
71$3,400,792$2,766,030$2,597,864$3,068,754
72$3,681,882$2,835,775$2,619,102$3,190,552
73$3,989,571$2,906,865$2,638,979$3,320,453
74$4,326,507$2,979,301$2,657,384$3,459,210
75$4,695,605$3,053,081$2,674,201$3,607,655
76$5,100,076$3,128,202$2,689,307$3,766,703
77$5,543,458$3,204,658$2,702,573$3,937,365
78$6,029,645$3,282,440$2,713,863$4,120,752
79$6,562,926$3,361,537$2,723,035$4,318,093
80$7,148,027$3,441,935$2,729,939$4,530,741
81$7,790,152$3,523,616$2,734,418$4,760,188
82$8,495,035$3,606,560$2,736,309$5,008,079
83$9,268,990$3,690,743$2,735,436$5,276,229
84$10,118,973$3,776,135$2,731,619$5,566,638
85$11,052,647$3,862,705$2,724,668$5,881,514
86$12,078,455$3,950,416$2,714,382$6,223,289
87$13,205,696$4,039,224$2,700,552$6,594,647
88$14,444,615$4,129,085$2,682,959$6,998,548
89$15,806,501$4,219,945$2,661,373$7,438,254
90$17,303,787$4,311,746$2,635,552$7,917,365
91$18,950,175$4,404,423$2,605,245$8,439,851
92$20,760,759$4,497,905$2,570,187$9,010,089
93$22,752,169$4,592,115$2,530,100$9,632,905
94$24,942,727$4,686,966$2,484,696$10,313,624
95$27,352,623$4,782,365$2,433,671$11,058,116
96$30,004,098$4,878,209$2,376,707$11,872,855
97$32,921,662$4,974,386$2,313,472$12,764,980
98$36,132,317$5,070,777$2,243,619$13,742,363
99$39,665,817$5,167,249$2,166,784$14,813,686
100$43,554,947$5,263,660$2,082,587$15,988,521