Can I retire at age 68 with 2,890,000?

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 $2,890,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.4%
1 years$238,653$236,528$234,454$232,429$230,453$223,523
2 years$118,145$115,945$113,812$111,745$109,739$102,817
3 years$77,981$75,771$73,644$71,596$69,623$62,924
4 years$57,903$55,700$53,594$51,581$49,656$43,232
5 years$45,859$43,669$41,591$39,619$37,748$31,616
6 years$37,833$35,659$33,612$31,684$29,868$24,034
7 years$32,102$29,947$27,932$26,049$24,291$18,754
8 years$27,805$25,670$23,688$21,852$20,152$14,909
9 years$24,466$22,350$20,403$18,613$16,971$12,017
10 years$21,795$19,701$17,788$16,044$14,460$9,788
11 years$19,612$17,538$15,660$13,964$12,436$8,037
12 years$17,794$15,741$13,898$12,248$10,777$6,643
13 years$16,257$14,226$12,417$10,813$9,398$5,518
14 years$14,940$12,931$11,156$9,599$8,238$4,604
15 years$13,800$11,812$10,073$8,560$7,253$3,854
16 years$12,804$10,838$9,132$7,665$6,410$3,235
17 years$11,925$9,981$8,310$6,887$5,684$2,722
18 years$11,146$9,223$7,586$6,206$5,054$2,295
19 years$10,449$8,548$6,945$5,608$4,505$1,938
20 years$9,822$7,943$6,374$5,079$4,024$1,638
21 years$9,256$7,399$5,862$4,610$3,601$1,387
22 years$8,742$6,906$5,403$4,191$3,228$1,175
23 years$8,274$6,459$4,989$3,817$2,897$997
24 years$7,845$6,052$4,614$3,481$2,604$846
25 years$7,451$5,679$4,273$3,179$2,343$718
26 years$7,088$5,338$3,963$2,907$2,111$610
27 years$6,752$5,024$3,680$2,661$1,903$518
28 years$6,441$4,734$3,421$2,438$1,717$441
29 years$6,152$4,466$3,184$2,236$1,551$375
30 years$5,883$4,217$2,966$2,052$1,401$319
31 years$5,631$3,987$2,765$1,884$1,267$271
32 years$5,396$3,772$2,580$1,732$1,146$231
33 years$5,176$3,572$2,409$1,593$1,037$196
34 years$4,968$3,386$2,250$1,465$939$167
35 years$4,774$3,211$2,104$1,349$850$142
36 years$4,590$3,048$1,968$1,242$770$121
37 years$4,417$2,895$1,842$1,145$698$103
38 years$4,253$2,751$1,725$1,055$633$88
39 years$4,098$2,616$1,616$973$574$75
40 years$3,951$2,489$1,515$897$521$64
41 years$3,812$2,369$1,421$828$472$54
42 years$3,679$2,257$1,332$764$429$46
43 years$3,554$2,150$1,250$705$389$39
44 years$3,434$2,049$1,174$651$353$33
45 years$3,320$1,954$1,102$601$321$29
46 years$3,211$1,864$1,035$555$291$24
47 years$3,107$1,779$972$513$264$21
48 years$3,007$1,698$914$474$240$18
49 years$2,913$1,622$859$438$218$15
50 years$2,822$1,549$808$405$198$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $2,890,000, adding $7,000 every year, while hoping to spend $20,354 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: 41/38/21 Blend
67$2,890,000$2,890,000$2,890,000$2,890,000
68$3,192,001$3,038,831$2,994,036$3,302,872
69$3,495,928$3,166,077$3,072,679$3,509,932
70$3,830,174$3,298,876$3,153,275$3,731,425
71$4,197,809$3,437,478$3,235,868$3,970,753
72$4,602,218$3,582,147$3,320,501$4,229,558
73$5,047,127$3,733,155$3,407,221$4,509,644
74$5,536,645$3,890,790$3,496,074$4,812,991
75$6,075,297$4,055,353$3,587,106$5,141,773
76$6,668,070$4,227,158$3,680,367$5,498,381
77$7,320,458$4,406,534$3,775,904$5,885,438
78$8,038,515$4,593,825$3,873,768$6,305,827
79$8,828,913$4,789,391$3,974,008$6,762,718
80$9,699,000$4,993,610$4,076,676$7,259,592
81$10,656,877$5,206,876$4,181,823$7,800,277
82$11,711,468$5,429,602$4,289,504$8,388,983
83$12,872,606$5,662,221$4,399,770$9,030,335
84$14,151,128$5,905,185$4,512,678$9,729,423
85$15,558,972$6,158,968$4,628,282$10,491,842
86$17,109,295$6,424,066$4,746,638$11,323,745
87$18,816,596$6,700,998$4,867,803$12,231,903
88$20,696,849$6,990,307$4,991,835$13,223,764
89$22,767,659$7,292,563$5,118,792$14,307,519
90$25,048,422$7,608,361$5,248,734$15,492,185
91$27,560,515$7,938,325$5,381,720$16,787,680
92$30,327,492$8,283,107$5,517,812$18,204,920
93$33,375,308$8,643,391$5,657,071$19,755,919
94$36,732,566$9,019,893$5,799,559$21,453,898
95$40,430,782$9,413,363$5,945,339$23,313,410
96$44,504,689$9,824,584$6,094,475$25,350,475
97$48,992,558$10,254,380$6,247,030$27,582,725
98$53,936,564$10,703,610$6,403,071$30,029,574
99$59,383,182$11,173,175$6,562,662$32,712,393
100$65,383,625$11,664,019$6,725,870$35,654,712