Can I retire at age 68 with 2,840,000?

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 $2,840,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$234,525$232,436$230,397$228,408$226,466$223,266
2 years$116,101$113,939$111,843$109,812$107,841$104,623
3 years$76,632$74,460$72,370$70,357$68,419$65,283
4 years$56,901$54,736$52,667$50,689$48,797$45,768
5 years$45,066$42,914$40,872$38,934$37,094$34,181
6 years$37,178$35,042$33,030$31,136$29,352$26,557
7 years$31,546$29,429$27,448$25,598$23,871$21,195
8 years$27,324$25,226$23,278$21,474$19,803$17,247
9 years$24,042$21,964$20,050$18,291$16,677$14,239
10 years$21,418$19,360$17,480$15,767$14,210$11,888
11 years$19,273$17,235$15,389$13,722$12,221$10,013
12 years$17,486$15,469$13,657$12,036$10,590$8,494
13 years$15,975$13,980$12,202$10,626$9,235$7,247
14 years$14,682$12,707$10,963$9,433$8,095$6,213
15 years$13,561$11,608$9,899$8,412$7,128$5,347
16 years$12,582$10,650$8,974$7,532$6,300$4,618
17 years$11,719$9,808$8,166$6,768$5,586$3,999
18 years$10,953$9,063$7,455$6,099$4,966$3,472
19 years$10,268$8,400$6,825$5,511$4,427$3,020
20 years$9,652$7,806$6,263$4,991$3,954$2,632
21 years$9,096$7,271$5,761$4,530$3,538$2,297
22 years$8,591$6,787$5,310$4,119$3,172$2,007
23 years$8,131$6,348$4,903$3,751$2,847$1,756
24 years$7,709$5,947$4,534$3,421$2,559$1,538
25 years$7,322$5,581$4,199$3,124$2,303$1,348
26 years$6,965$5,245$3,895$2,857$2,074$1,183
27 years$6,635$4,937$3,617$2,615$1,870$1,038
28 years$6,330$4,652$3,362$2,396$1,687$912
29 years$6,046$4,388$3,129$2,197$1,524$801
30 years$5,781$4,144$2,914$2,016$1,377$704
31 years$5,534$3,918$2,717$1,852$1,245$619
32 years$5,303$3,707$2,535$1,702$1,126$545
33 years$5,086$3,511$2,367$1,565$1,019$479
34 years$4,882$3,327$2,211$1,440$923$422
35 years$4,691$3,156$2,068$1,326$836$371
36 years$4,511$2,995$1,934$1,221$757$327
37 years$4,340$2,845$1,810$1,125$686$288
38 years$4,179$2,704$1,695$1,037$622$254
39 years$4,027$2,571$1,588$956$564$223
40 years$3,883$2,446$1,489$882$512$197
41 years$3,746$2,328$1,396$813$464$174
42 years$3,616$2,217$1,309$751$421$153
43 years$3,492$2,113$1,229$693$382$135
44 years$3,374$2,014$1,153$640$347$119
45 years$3,262$1,920$1,083$591$315$105
46 years$3,155$1,832$1,017$546$286$92
47 years$3,053$1,748$956$504$260$81
48 years$2,955$1,669$898$466$236$72
49 years$2,862$1,594$844$431$214$63
50 years$2,773$1,522$794$398$195$56

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $2,840,000, adding $3,741 every year, while hoping to spend $27,602 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: 48/39/13 Blend
67$2,840,000$2,840,000$2,840,000$2,840,000
68$3,133,539$2,983,019$2,938,999$3,272,489
69$3,423,791$3,099,818$3,008,087$3,485,494
70$3,742,725$3,221,416$3,078,564$3,713,480
71$4,093,235$3,348,018$3,150,449$3,960,407
72$4,478,513$3,479,839$3,223,757$4,228,053
73$4,902,074$3,617,104$3,298,505$4,518,373
74$5,367,791$3,760,047$3,374,711$4,833,513
75$5,879,931$3,908,915$3,452,389$5,175,832
76$6,443,195$4,063,962$3,531,555$5,547,925
77$7,062,762$4,225,458$3,612,223$5,952,642
78$7,744,340$4,393,681$3,694,408$6,393,119
79$8,494,215$4,568,924$3,778,124$6,872,803
80$9,319,317$4,751,493$3,863,383$7,395,486
81$10,227,277$4,941,706$3,950,196$7,965,337
82$11,226,507$5,139,898$4,038,576$8,586,943
83$12,326,275$5,346,416$4,128,531$9,265,351
84$13,536,790$5,561,626$4,220,073$10,006,112
85$14,869,305$5,785,908$4,313,207$10,815,335
86$16,336,217$6,019,661$4,407,942$11,699,741
87$17,951,186$6,263,299$4,504,284$12,666,728
88$19,729,266$6,517,260$4,602,236$13,724,436
89$21,687,042$6,781,997$4,701,802$14,881,826
90$23,842,791$7,057,985$4,802,983$16,148,760
91$26,216,653$7,345,723$4,905,780$17,536,094
92$28,830,817$7,645,730$5,010,190$19,055,778
93$31,709,739$7,958,549$5,116,210$20,720,971
94$34,880,363$8,284,749$5,223,834$22,546,157
95$38,372,383$8,624,924$5,333,054$24,547,285
96$42,218,516$8,979,695$5,443,862$26,741,913
97$46,454,818$9,349,713$5,556,244$29,149,380
98$51,121,018$9,735,658$5,670,187$31,790,975
99$56,260,896$10,138,239$5,785,672$34,690,146
100$61,922,696$10,558,201$5,902,681$37,872,713