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

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 $2,470,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$203,970$202,153$200,381$198,651$196,961$191,424
2 years$100,975$99,095$97,272$95,505$93,791$88,254
3 years$66,648$64,760$62,942$61,191$59,505$54,142
4 years$49,488$47,605$45,805$44,085$42,439$37,292
5 years$39,195$37,323$35,547$33,861$32,262$27,344
6 years$32,335$30,477$28,727$27,079$25,528$20,844
7 years$27,436$25,595$23,872$22,263$20,761$16,311
8 years$23,765$21,939$20,246$18,676$17,223$13,005
9 years$20,910$19,102$17,438$15,908$14,504$10,514
10 years$18,628$16,838$15,202$13,713$12,358$8,590
11 years$16,762$14,989$13,384$11,934$10,629$7,077
12 years$15,208$13,454$11,878$10,468$9,211$5,868
13 years$13,894$12,158$10,612$9,242$8,032$4,892
14 years$12,769$11,052$9,535$8,204$7,041$4,095
15 years$11,795$10,096$8,609$7,316$6,199$3,440
16 years$10,943$9,263$7,805$6,551$5,479$2,898
17 years$10,192$8,531$7,102$5,886$4,858$2,447
18 years$9,526$7,883$6,484$5,304$4,319$2,071
19 years$8,930$7,306$5,935$4,793$3,850$1,755
20 years$8,395$6,789$5,447$4,341$3,439$1,490
21 years$7,911$6,323$5,010$3,940$3,077$1,266
22 years$7,472$5,903$4,618$3,582$2,758$1,077
23 years$7,071$5,521$4,264$3,262$2,476$917
24 years$6,705$5,172$3,943$2,975$2,226$781
25 years$6,368$4,854$3,652$2,717$2,003$666
26 years$6,058$4,562$3,387$2,485$1,804$568
27 years$5,771$4,293$3,145$2,274$1,626$485
28 years$5,505$4,046$2,924$2,084$1,468$414
29 years$5,258$3,817$2,721$1,911$1,325$353
30 years$5,028$3,604$2,535$1,754$1,197$302
31 years$4,813$3,407$2,363$1,611$1,083$258
32 years$4,612$3,224$2,205$1,480$979$220
33 years$4,423$3,053$2,058$1,361$886$188
34 years$4,246$2,894$1,923$1,252$802$161
35 years$4,080$2,745$1,798$1,153$727$137
36 years$3,923$2,605$1,682$1,062$658$118
37 years$3,775$2,474$1,574$978$597$100
38 years$3,635$2,351$1,474$902$541$86
39 years$3,502$2,236$1,381$831$491$73
40 years$3,377$2,127$1,295$767$445$63
41 years$3,258$2,025$1,214$707$404$54
42 years$3,145$1,929$1,139$653$366$46
43 years$3,037$1,838$1,069$603$332$39
44 years$2,935$1,752$1,003$557$302$34
45 years$2,837$1,670$942$514$274$29
46 years$2,744$1,593$885$475$249$25
47 years$2,655$1,521$831$439$226$21
48 years$2,570$1,452$781$405$205$18
49 years$2,489$1,386$734$375$186$15
50 years$2,412$1,324$690$346$169$13

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 $6,995 every year, while hoping to spend $47,921 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: 47/35/18 Blend
67$2,470,000$2,470,000$2,470,000$2,470,000
68$2,729,155$2,598,245$2,559,960$2,843,201
69$2,956,542$2,674,572$2,594,731$2,999,604
70$3,205,515$2,753,032$2,629,061$3,163,865
71$3,478,227$2,833,680$2,662,884$3,341,133
72$3,777,047$2,916,571$2,696,132$3,532,644
73$4,104,584$3,001,761$2,728,730$3,739,756
74$4,463,711$3,089,307$2,760,602$3,963,963
75$4,857,594$3,179,268$2,791,667$4,206,912
76$5,289,719$3,271,702$2,821,837$4,470,414
77$5,763,924$3,366,669$2,851,023$4,756,463
78$6,284,440$3,464,232$2,879,128$5,067,253
79$6,855,925$3,564,451$2,906,051$5,405,204
80$7,483,512$3,667,392$2,931,686$5,772,975
81$8,172,854$3,773,117$2,955,921$6,173,499
82$8,930,178$3,881,693$2,978,638$6,610,003
83$9,762,345$3,993,185$2,999,711$7,086,041
84$10,676,914$4,107,661$3,019,012$7,605,530
85$11,682,212$4,225,189$3,036,401$8,172,781
86$12,787,412$4,345,838$3,051,735$8,792,545
87$14,002,621$4,469,677$3,064,861$9,470,053
88$15,338,975$4,596,778$3,075,620$10,211,070
89$16,808,742$4,727,211$3,083,845$11,021,946
90$18,425,438$4,861,049$3,089,358$11,909,674
91$20,203,957$4,998,365$3,091,976$12,881,961
92$22,160,707$5,139,231$3,091,504$13,947,298
93$24,313,768$5,283,722$3,087,738$15,115,037
94$26,683,060$5,431,913$3,080,465$16,395,483
95$29,290,532$5,583,877$3,069,461$17,799,992
96$32,160,370$5,739,690$3,054,491$19,341,074
97$35,319,220$5,899,427$3,035,309$21,032,512
98$38,796,446$6,063,164$3,011,657$22,889,494
99$42,624,400$6,230,976$2,983,264$24,928,756
100$46,838,734$6,402,939$2,949,848$27,168,737