Can I retire at age 68 with 2,480,000?

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 $2,480,000?

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$204,796$202,972$201,192$199,455$197,759$192,821
2 years$101,384$99,496$97,666$95,892$94,171$89,228
3 years$66,918$65,022$63,196$61,439$59,746$54,952
4 years$49,688$47,798$45,991$44,263$42,611$38,003
5 years$39,353$37,474$35,691$33,998$32,392$27,983
6 years$32,465$30,600$28,843$27,189$25,631$21,424
7 years$27,548$25,698$23,969$22,353$20,845$16,841
8 years$23,861$22,028$20,328$18,752$17,293$13,491
9 years$20,995$19,179$17,508$15,972$14,563$10,960
10 years$18,703$16,906$15,264$13,768$12,408$8,999
11 years$16,830$15,050$13,438$11,983$10,672$7,452
12 years$15,270$13,508$11,926$10,510$9,248$6,212
13 years$13,950$12,207$10,655$9,279$8,064$5,206
14 years$12,821$11,096$9,574$8,237$7,069$4,382
15 years$11,842$10,137$8,644$7,346$6,224$3,702
16 years$10,987$9,300$7,837$6,577$5,501$3,137
17 years$10,234$8,565$7,131$5,910$4,878$2,664
18 years$9,564$7,915$6,510$5,326$4,337$2,268
19 years$8,966$7,335$5,959$4,812$3,866$1,934
20 years$8,429$6,816$5,469$4,359$3,453$1,651
21 years$7,943$6,349$5,031$3,956$3,090$1,412
22 years$7,502$5,927$4,637$3,597$2,770$1,209
23 years$7,100$5,543$4,281$3,275$2,486$1,035
24 years$6,732$5,193$3,959$2,987$2,235$888
25 years$6,394$4,874$3,667$2,728$2,011$762
26 years$6,082$4,581$3,401$2,495$1,811$654
27 years$5,794$4,311$3,158$2,283$1,633$561
28 years$5,527$4,062$2,936$2,092$1,474$482
29 years$5,279$3,832$2,732$1,918$1,331$415
30 years$5,048$3,619$2,545$1,761$1,202$356
31 years$4,832$3,421$2,373$1,617$1,087$307
32 years$4,631$3,237$2,214$1,486$983$264
33 years$4,441$3,066$2,067$1,367$890$227
34 years$4,264$2,905$1,931$1,257$806$195
35 years$4,096$2,756$1,805$1,157$730$168
36 years$3,939$2,616$1,689$1,066$661$145
37 years$3,790$2,484$1,581$982$599$124
38 years$3,650$2,361$1,480$905$543$107
39 years$3,517$2,245$1,387$835$493$92
40 years$3,391$2,136$1,300$770$447$79
41 years$3,271$2,033$1,219$710$405$68
42 years$3,157$1,936$1,143$656$368$59
43 years$3,049$1,845$1,073$605$334$51
44 years$2,947$1,759$1,007$559$303$44
45 years$2,849$1,677$946$516$275$38
46 years$2,755$1,600$888$477$250$32
47 years$2,666$1,527$834$440$227$28
48 years$2,581$1,457$784$407$206$24
49 years$2,499$1,392$737$376$187$21
50 years$2,421$1,330$693$348$170$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $2,480,000, adding $3,019 every year, while hoping to spend $24,122 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: 31/45/24 Blend
67$2,480,000$2,480,000$2,480,000$2,480,000
68$2,736,074$2,604,634$2,566,194$2,800,542
69$2,989,488$2,706,596$2,626,496$2,951,977
70$3,267,942$2,812,745$2,688,010$3,112,518
71$3,573,964$2,923,261$2,750,750$3,284,844
72$3,910,340$3,038,333$2,814,732$3,470,000
73$4,280,139$3,158,155$2,879,970$3,669,129
74$4,686,742$3,282,934$2,946,478$3,883,488
75$5,133,875$3,412,883$3,014,270$4,114,453
76$5,625,642$3,548,226$3,083,359$4,363,536
77$6,166,564$3,689,196$3,153,759$4,632,395
78$6,761,624$3,836,037$3,225,480$4,922,849
79$7,416,312$3,989,005$3,298,536$5,236,899
80$8,136,675$4,148,366$3,372,936$5,576,738
81$8,929,379$4,314,398$3,448,692$5,944,777
82$9,801,765$4,487,393$3,525,813$6,343,665
83$10,761,924$4,667,654$3,604,307$6,776,312
84$11,818,771$4,855,501$3,684,182$7,245,914
85$12,982,130$5,051,264$3,765,446$7,755,987
86$14,262,824$5,255,292$3,848,105$8,310,394
87$15,672,778$5,467,948$3,932,163$8,913,381
88$17,225,135$5,689,611$4,017,624$9,569,618
89$18,934,374$5,920,678$4,104,490$10,284,240
90$20,816,453$6,161,564$4,192,763$11,062,894
91$22,888,954$6,412,702$4,282,443$11,911,791
92$25,171,250$6,674,547$4,373,527$12,837,764
93$27,684,690$6,947,573$4,466,013$13,848,329
94$30,452,799$7,232,275$4,559,896$14,951,756
95$33,501,500$7,529,172$4,655,167$16,157,143
96$36,859,357$7,838,805$4,751,820$17,474,502
97$40,557,848$8,161,744$4,849,843$18,914,853
98$44,631,659$8,498,579$4,949,223$20,490,320
99$49,119,011$8,849,933$5,049,945$22,214,251
100$54,062,023$9,216,452$5,151,991$24,101,337