Can I retire at age 68 with 2,930,000?

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 $2,930,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19%
1 years$241,957$239,801$237,699$235,646$233,642$225,173
2 years$119,781$117,550$115,388$113,292$111,258$102,819
3 years$79,060$76,820$74,664$72,587$70,587$62,442
4 years$58,704$56,471$54,336$52,295$50,343$42,556
5 years$46,494$44,274$42,167$40,167$38,270$30,860
6 years$38,356$36,153$34,077$32,122$30,282$23,255
7 years$32,546$30,361$28,318$26,409$24,627$17,981
8 years$28,190$26,025$24,016$22,154$20,431$14,160
9 years$24,804$22,660$20,685$18,870$17,206$11,302
10 years$22,097$19,973$18,034$16,267$14,660$9,113
11 years$19,884$17,781$15,877$14,157$12,608$7,406
12 years$18,040$15,959$14,090$12,417$10,926$6,056
13 years$16,482$14,423$12,589$10,963$9,528$4,977
14 years$15,147$13,110$11,311$9,731$8,352$4,106
15 years$13,991$11,976$10,212$8,679$7,354$3,398
16 years$12,981$10,988$9,259$7,771$6,499$2,820
17 years$12,091$10,119$8,425$6,982$5,763$2,345
18 years$11,300$9,351$7,691$6,292$5,124$1,954
19 years$10,593$8,666$7,041$5,686$4,567$1,630
20 years$9,958$8,053$6,462$5,149$4,079$1,361
21 years$9,384$7,501$5,944$4,673$3,651$1,138
22 years$8,863$7,002$5,478$4,249$3,272$952
23 years$8,388$6,549$5,058$3,870$2,937$797
24 years$7,953$6,136$4,678$3,530$2,640$668
25 years$7,554$5,758$4,332$3,223$2,376$560
26 years$7,186$5,412$4,018$2,947$2,140$470
27 years$6,846$5,093$3,731$2,698$1,929$394
28 years$6,530$4,799$3,469$2,472$1,741$331
29 years$6,237$4,527$3,228$2,267$1,572$277
30 years$5,964$4,276$3,007$2,080$1,420$233
31 years$5,709$4,042$2,803$1,910$1,284$196
32 years$5,471$3,824$2,615$1,756$1,162$164
33 years$5,247$3,622$2,442$1,615$1,051$138
34 years$5,037$3,433$2,282$1,486$952$116
35 years$4,840$3,256$2,133$1,368$862$97
36 years$4,654$3,090$1,995$1,259$781$82
37 years$4,478$2,935$1,868$1,160$708$69
38 years$4,312$2,789$1,749$1,070$642$58
39 years$4,155$2,652$1,639$986$582$48
40 years$4,006$2,524$1,536$910$528$41
41 years$3,865$2,402$1,440$839$479$34
42 years$3,730$2,288$1,351$775$435$29
43 years$3,603$2,180$1,268$715$394$24
44 years$3,481$2,078$1,190$660$358$20
45 years$3,366$1,981$1,117$610$325$17
46 years$3,255$1,890$1,049$563$295$14
47 years$3,150$1,804$986$520$268$12
48 years$3,049$1,722$926$481$243$10
49 years$2,953$1,644$871$444$221$9
50 years$2,861$1,571$819$411$201$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $2,930,000, adding $2,445 every year, while hoping to spend $22,751 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: 62/24/14 Blend
67$2,930,000$2,930,000$2,930,000$2,930,000
68$3,231,382$3,076,092$3,030,677$3,420,554
69$3,536,776$3,202,614$3,107,998$3,674,382
70$3,872,558$3,334,572$3,187,146$3,948,536
71$4,241,803$3,472,210$3,268,160$4,247,256
72$4,647,899$3,615,781$3,351,076$4,572,924
73$5,094,581$3,765,551$3,435,933$4,928,166
74$5,585,961$3,921,795$3,522,769$5,315,865
75$6,126,571$4,084,805$3,611,624$5,739,199
76$6,721,405$4,254,885$3,702,537$6,201,660
77$7,375,965$4,432,350$3,795,549$6,707,093
78$8,096,312$4,617,535$3,890,699$7,259,730
79$8,889,127$4,810,785$3,988,028$7,864,229
80$9,761,770$5,012,465$4,087,578$8,525,715
81$10,722,349$5,222,954$4,189,391$9,249,831
82$11,779,801$5,442,651$4,293,508$10,042,788
83$12,943,972$5,671,973$4,399,972$10,911,425
84$14,225,711$5,911,353$4,508,825$11,863,271
85$15,636,974$6,161,250$4,620,111$12,906,615
86$17,190,933$6,422,139$4,733,872$14,050,583
87$18,902,104$6,694,519$4,850,152$15,305,225
88$20,786,481$6,978,913$4,968,996$16,681,608
89$22,861,691$7,275,869$5,090,445$18,191,918
90$25,147,154$7,585,957$5,214,546$19,849,575
91$27,664,272$7,909,777$5,341,341$21,669,358
92$30,436,627$8,247,955$5,470,876$23,667,544
93$33,490,206$8,601,149$5,603,194$25,862,060
94$36,853,645$8,970,043$5,738,339$28,272,652
95$40,558,500$9,355,358$5,876,356$30,921,065
96$44,639,542$9,757,845$6,017,288$33,831,254
97$49,135,088$10,178,293$6,161,181$37,029,603
98$54,087,363$10,617,525$6,308,076$40,545,175
99$59,542,895$11,076,405$6,458,018$44,409,985
100$65,552,959$11,555,837$6,611,050$48,659,299