Can I retire at age 68 with 2,470,000?

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 $2,470,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$203,970$202,153$200,381$198,651$196,961$192,356
2 years$100,975$99,095$97,272$95,505$93,791$89,178
3 years$66,648$64,760$62,942$61,191$59,505$55,027
4 years$49,488$47,605$45,805$44,085$42,439$38,132
5 years$39,195$37,323$35,547$33,861$32,262$28,137
6 years$32,335$30,477$28,727$27,079$25,528$21,589
7 years$27,436$25,595$23,872$22,263$20,761$17,010
8 years$23,765$21,939$20,246$18,676$17,223$13,658
9 years$20,910$19,102$17,438$15,908$14,504$11,122
10 years$18,628$16,838$15,202$13,713$12,358$9,155
11 years$16,762$14,989$13,384$11,934$10,629$7,600
12 years$15,208$13,454$11,878$10,468$9,211$6,352
13 years$13,894$12,158$10,612$9,242$8,032$5,338
14 years$12,769$11,052$9,535$8,204$7,041$4,505
15 years$11,795$10,096$8,609$7,316$6,199$3,817
16 years$10,943$9,263$7,805$6,551$5,479$3,243
17 years$10,192$8,531$7,102$5,886$4,858$2,763
18 years$9,526$7,883$6,484$5,304$4,319$2,359
19 years$8,930$7,306$5,935$4,793$3,850$2,017
20 years$8,395$6,789$5,447$4,341$3,439$1,728
21 years$7,911$6,323$5,010$3,940$3,077$1,482
22 years$7,472$5,903$4,618$3,582$2,758$1,272
23 years$7,071$5,521$4,264$3,262$2,476$1,093
24 years$6,705$5,172$3,943$2,975$2,226$940
25 years$6,368$4,854$3,652$2,717$2,003$809
26 years$6,058$4,562$3,387$2,485$1,804$697
27 years$5,771$4,293$3,145$2,274$1,626$601
28 years$5,505$4,046$2,924$2,084$1,468$518
29 years$5,258$3,817$2,721$1,911$1,325$446
30 years$5,028$3,604$2,535$1,754$1,197$385
31 years$4,813$3,407$2,363$1,611$1,083$332
32 years$4,612$3,224$2,205$1,480$979$287
33 years$4,423$3,053$2,058$1,361$886$247
34 years$4,246$2,894$1,923$1,252$802$214
35 years$4,080$2,745$1,798$1,153$727$184
36 years$3,923$2,605$1,682$1,062$658$159
37 years$3,775$2,474$1,574$978$597$138
38 years$3,635$2,351$1,474$902$541$119
39 years$3,502$2,236$1,381$831$491$103
40 years$3,377$2,127$1,295$767$445$89
41 years$3,258$2,025$1,214$707$404$77
42 years$3,145$1,929$1,139$653$366$66
43 years$3,037$1,838$1,069$603$332$57
44 years$2,935$1,752$1,003$557$302$49
45 years$2,837$1,670$942$514$274$43
46 years$2,744$1,593$885$475$249$37
47 years$2,655$1,521$831$439$226$32
48 years$2,570$1,452$781$405$205$28
49 years$2,489$1,386$734$375$186$24
50 years$2,412$1,324$690$346$169$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $2,470,000, adding $6,712 every year, while hoping to spend $44,286 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: 46/31/23 Blend
67$2,470,000$2,470,000$2,470,000$2,470,000
68$2,728,863$2,597,953$2,559,668$2,836,107
69$2,960,088$2,678,133$2,598,297$2,992,348
70$3,213,412$2,760,757$2,636,736$3,156,872
71$3,491,045$2,845,899$2,674,931$3,334,483
72$3,795,417$2,933,634$2,712,827$3,526,424
73$4,129,206$3,024,038$2,750,363$3,734,063
74$4,495,361$3,117,192$2,787,477$3,958,907
75$4,897,131$3,213,178$2,824,100$4,202,612
76$5,338,093$3,312,078$2,860,162$4,467,003
77$5,822,190$3,413,981$2,895,589$4,754,089
78$6,353,762$3,518,975$2,930,299$5,066,080
79$6,937,592$3,627,151$2,964,211$5,405,411
80$7,578,949$3,738,604$2,997,234$5,774,762
81$8,283,636$3,853,430$3,029,277$6,177,085
82$9,058,048$3,971,729$3,060,238$6,615,630
83$9,909,229$4,093,604$3,090,016$7,093,976
84$10,844,939$4,219,159$3,118,500$7,616,066
85$11,873,728$4,348,503$3,145,575$8,186,242
86$13,005,015$4,481,747$3,171,119$8,809,286
87$14,249,179$4,619,005$3,195,004$9,490,465
88$15,617,653$4,760,394$3,217,095$10,235,583
89$17,123,037$4,906,036$3,237,250$11,051,031
90$18,779,209$5,056,055$3,255,321$11,943,851
91$20,601,465$5,210,578$3,271,150$12,921,800
92$22,606,654$5,369,735$3,284,573$13,993,422
93$24,813,343$5,533,663$3,295,417$15,168,133
94$27,241,989$5,702,498$3,303,499$16,456,306
95$29,915,135$5,876,383$3,308,629$17,869,367
96$32,857,618$6,055,465$3,310,607$19,419,908
97$36,096,804$6,239,892$3,309,222$21,121,800
98$39,662,850$6,429,819$3,304,253$22,990,329
99$43,588,984$6,625,404$3,295,469$25,042,334
100$47,911,821$6,826,809$3,282,627$27,296,371