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%11.6%
1 years$234,525$232,436$230,397$228,408$226,466$224,944
2 years$116,101$113,939$111,843$109,812$107,841$106,306
3 years$76,632$74,460$72,370$70,357$68,419$66,919
4 years$56,901$54,736$52,667$50,689$48,797$47,343
5 years$45,066$42,914$40,872$38,934$37,094$35,691
6 years$37,178$35,042$33,030$31,136$29,352$28,000
7 years$31,546$29,429$27,448$25,598$23,871$22,572
8 years$27,324$25,226$23,278$21,474$19,803$18,557
9 years$24,042$21,964$20,050$18,291$16,677$15,484
10 years$21,418$19,360$17,480$15,767$14,210$13,068
11 years$19,273$17,235$15,389$13,722$12,221$11,131
12 years$17,486$15,469$13,657$12,036$10,590$9,550
13 years$15,975$13,980$12,202$10,626$9,235$8,244
14 years$14,682$12,707$10,963$9,433$8,095$7,152
15 years$13,561$11,608$9,899$8,412$7,128$6,231
16 years$12,582$10,650$8,974$7,532$6,300$5,448
17 years$11,719$9,808$8,166$6,768$5,586$4,778
18 years$10,953$9,063$7,455$6,099$4,966$4,202
19 years$10,268$8,400$6,825$5,511$4,427$3,703
20 years$9,652$7,806$6,263$4,991$3,954$3,270
21 years$9,096$7,271$5,761$4,530$3,538$2,892
22 years$8,591$6,787$5,310$4,119$3,172$2,562
23 years$8,131$6,348$4,903$3,751$2,847$2,273
24 years$7,709$5,947$4,534$3,421$2,559$2,018
25 years$7,322$5,581$4,199$3,124$2,303$1,794
26 years$6,965$5,245$3,895$2,857$2,074$1,596
27 years$6,635$4,937$3,617$2,615$1,870$1,421
28 years$6,330$4,652$3,362$2,396$1,687$1,266
29 years$6,046$4,388$3,129$2,197$1,524$1,129
30 years$5,781$4,144$2,914$2,016$1,377$1,007
31 years$5,534$3,918$2,717$1,852$1,245$899
32 years$5,303$3,707$2,535$1,702$1,126$802
33 years$5,086$3,511$2,367$1,565$1,019$717
34 years$4,882$3,327$2,211$1,440$923$640
35 years$4,691$3,156$2,068$1,326$836$572
36 years$4,511$2,995$1,934$1,221$757$512
37 years$4,340$2,845$1,810$1,125$686$458
38 years$4,179$2,704$1,695$1,037$622$409
39 years$4,027$2,571$1,588$956$564$366
40 years$3,883$2,446$1,489$882$512$328
41 years$3,746$2,328$1,396$813$464$293
42 years$3,616$2,217$1,309$751$421$262
43 years$3,492$2,113$1,229$693$382$235
44 years$3,374$2,014$1,153$640$347$210
45 years$3,262$1,920$1,083$591$315$188
46 years$3,155$1,832$1,017$546$286$169
47 years$3,053$1,748$956$504$260$151
48 years$2,955$1,669$898$466$236$135
49 years$2,862$1,594$844$431$214$121
50 years$2,773$1,522$794$398$195$108

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 $3,366 every year, while hoping to spend $31,261 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: 67/16/17 Blend
67$2,840,000$2,840,000$2,840,000$2,840,000
68$3,133,152$2,982,632$2,938,612$3,329,952
69$3,419,472$3,095,520$3,003,794$3,574,760
70$3,733,949$3,212,891$3,070,112$3,838,388
71$4,079,422$3,334,933$3,137,571$4,125,888
72$4,459,018$3,461,839$3,206,175$4,439,604
73$4,876,183$3,593,815$3,275,927$4,782,114
74$5,334,713$3,731,071$3,346,830$5,156,257
75$5,838,790$3,873,829$3,418,884$5,565,157
76$6,393,020$4,022,321$3,492,091$6,012,255
77$7,002,480$4,176,787$3,566,448$6,501,340
78$7,672,763$4,337,478$3,641,953$7,036,583
79$8,410,028$4,504,659$3,718,602$7,622,576
80$9,221,067$4,678,603$3,796,391$8,264,376
81$10,113,357$4,859,596$3,875,312$8,967,555
82$11,095,141$5,047,937$3,955,356$9,738,244
83$12,175,499$5,243,940$4,036,514$10,583,200
84$13,364,436$5,447,929$4,118,774$11,509,863
85$14,672,976$5,660,245$4,202,120$12,526,426
86$16,113,267$5,881,244$4,286,538$13,641,915
87$17,698,692$6,111,297$4,372,009$14,866,272
88$19,443,999$6,350,791$4,458,512$16,210,446
89$21,365,439$6,600,132$4,546,024$17,686,502
90$23,480,917$6,859,742$4,634,520$19,307,725
91$25,810,165$7,130,064$4,723,970$21,088,753
92$28,374,923$7,411,558$4,814,344$23,045,710
93$31,199,148$7,704,707$4,905,608$25,196,361
94$34,309,239$8,010,016$4,997,723$27,560,273
95$37,734,284$8,328,009$5,090,650$30,159,006
96$41,506,337$8,659,237$5,184,342$33,016,310
97$45,660,719$9,004,275$5,278,753$36,158,353
98$50,236,350$9,363,723$5,373,830$39,613,964
99$55,276,121$9,738,209$5,469,516$43,414,904
100$60,827,292$10,128,387$5,565,751$47,596,168