Can I retire at age 68 with 2,830,000?

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 $2,830,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17%
1 years$233,699$231,617$229,586$227,604$225,668$219,235
2 years$115,692$113,538$111,450$109,425$107,461$101,030
3 years$76,362$74,198$72,115$70,110$68,178$61,950
4 years$56,701$54,544$52,481$50,510$48,625$42,649
5 years$44,907$42,763$40,728$38,797$36,964$31,255
6 years$37,047$34,919$32,914$31,026$29,248$23,812
7 years$31,435$29,325$27,352$25,508$23,787$18,623
8 years$27,228$25,137$23,196$21,398$19,733$14,840
9 years$23,958$21,886$19,979$18,226$16,618$11,990
10 years$21,343$19,292$17,418$15,711$14,160$9,790
11 years$19,205$17,174$15,335$13,674$12,178$8,060
12 years$17,424$15,415$13,609$11,994$10,553$6,679
13 years$15,919$13,930$12,159$10,589$9,202$5,564
14 years$14,630$12,662$10,925$9,399$8,067$4,654
15 years$13,514$11,567$9,864$8,383$7,103$3,907
16 years$12,538$10,613$8,943$7,506$6,277$3,289
17 years$11,678$9,774$8,138$6,744$5,566$2,776
18 years$10,914$9,032$7,429$6,077$4,949$2,347
19 years$10,232$8,370$6,801$5,492$4,411$1,988
20 years$9,618$7,778$6,241$4,974$3,940$1,686
21 years$9,064$7,245$5,741$4,514$3,526$1,432
22 years$8,561$6,763$5,291$4,104$3,160$1,217
23 years$8,102$6,325$4,885$3,738$2,837$1,035
24 years$7,682$5,926$4,518$3,409$2,550$881
25 years$7,296$5,562$4,185$3,113$2,295$751
26 years$6,941$5,227$3,881$2,847$2,067$640
27 years$6,612$4,919$3,604$2,606$1,863$545
28 years$6,307$4,635$3,350$2,387$1,681$465
29 years$6,024$4,373$3,118$2,189$1,518$397
30 years$5,761$4,130$2,904$2,009$1,372$339
31 years$5,514$3,904$2,707$1,845$1,240$289
32 years$5,284$3,694$2,526$1,696$1,122$247
33 years$5,068$3,498$2,359$1,559$1,015$211
34 years$4,865$3,316$2,204$1,435$919$180
35 years$4,674$3,145$2,060$1,321$833$154
36 years$4,495$2,985$1,927$1,216$754$131
37 years$4,325$2,835$1,804$1,121$684$112
38 years$4,165$2,694$1,689$1,033$620$96
39 years$4,013$2,562$1,583$953$562$82
40 years$3,869$2,437$1,483$879$510$70
41 years$3,733$2,320$1,391$811$463$60
42 years$3,603$2,210$1,305$748$420$51
43 years$3,480$2,105$1,224$691$381$44
44 years$3,362$2,007$1,149$638$346$37
45 years$3,251$1,914$1,079$589$314$32
46 years$3,144$1,826$1,014$544$285$27
47 years$3,042$1,742$952$503$259$23
48 years$2,945$1,663$895$464$235$20
49 years$2,852$1,588$841$429$213$17
50 years$2,763$1,517$791$397$194$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $2,830,000, adding $2,424 every year, while hoping to spend $47,216 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: 58/16/26 Blend
67$2,830,000$2,830,000$2,830,000$2,830,000
68$3,121,160$2,971,170$2,927,305$3,280,009
69$3,389,281$3,066,520$2,975,133$3,484,229
70$3,683,168$3,164,960$3,022,980$3,701,569
71$4,005,399$3,266,591$3,070,797$3,937,556
72$4,358,814$3,371,517$3,118,533$4,194,010
73$4,746,540$3,479,849$3,166,131$4,472,933
74$5,172,022$3,591,697$3,213,532$4,776,530
75$5,639,057$3,707,178$3,260,673$5,107,229
76$6,151,822$3,826,412$3,307,487$5,467,704
77$6,714,923$3,949,521$3,353,904$5,860,900
78$7,333,433$4,076,635$3,399,847$6,290,060
79$8,012,938$4,207,886$3,445,237$6,758,757
80$8,759,596$4,343,410$3,489,990$7,270,926
81$9,580,186$4,483,348$3,534,016$7,830,901
82$10,482,180$4,627,848$3,577,221$8,443,456
83$11,473,810$4,777,060$3,619,506$9,113,851
84$12,564,143$4,931,140$3,660,763$9,847,881
85$13,763,170$5,090,251$3,700,883$10,651,927
86$15,081,899$5,254,558$3,739,748$11,533,023
87$16,532,457$5,424,236$3,777,234$12,498,916
88$18,128,206$5,599,462$3,813,210$13,558,142
89$19,883,869$5,780,421$3,847,539$14,720,104
90$21,815,667$5,967,305$3,880,074$15,995,164
91$23,941,473$6,160,311$3,910,665$17,394,738
92$26,280,981$6,359,644$3,939,150$18,931,405
93$28,855,889$6,565,514$3,965,359$20,619,024
94$31,690,106$6,778,141$3,989,115$22,472,865
95$34,809,977$6,997,751$4,010,231$24,509,756
96$38,244,531$7,224,577$4,028,510$26,748,236
97$42,025,754$7,458,861$4,043,745$29,208,735
98$46,188,889$7,700,854$4,055,720$31,913,764
99$50,772,775$7,950,815$4,064,205$34,888,128
100$55,820,205$8,209,012$4,068,963$38,159,161