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%18%
1 years$241,957$239,801$237,699$235,646$233,642$226,073
2 years$119,781$117,550$115,388$113,292$111,258$103,703
3 years$79,060$76,820$74,664$72,587$70,587$63,283
4 years$58,704$56,471$54,336$52,295$50,343$43,347
5 years$46,494$44,274$42,167$40,167$38,270$31,600
6 years$38,356$36,153$34,077$32,122$30,282$23,943
7 years$32,546$30,361$28,318$26,409$24,627$18,620
8 years$28,190$26,025$24,016$22,154$20,431$14,750
9 years$24,804$22,660$20,685$18,870$17,206$11,845
10 years$22,097$19,973$18,034$16,267$14,660$9,611
11 years$19,884$17,781$15,877$14,157$12,608$7,862
12 years$18,040$15,959$14,090$12,417$10,926$6,472
13 years$16,482$14,423$12,589$10,963$9,528$5,355
14 years$15,147$13,110$11,311$9,731$8,352$4,449
15 years$13,991$11,976$10,212$8,679$7,354$3,708
16 years$12,981$10,988$9,259$7,771$6,499$3,099
17 years$12,091$10,119$8,425$6,982$5,763$2,597
18 years$11,300$9,351$7,691$6,292$5,124$2,179
19 years$10,593$8,666$7,041$5,686$4,567$1,832
20 years$9,958$8,053$6,462$5,149$4,079$1,542
21 years$9,384$7,501$5,944$4,673$3,651$1,299
22 years$8,863$7,002$5,478$4,249$3,272$1,096
23 years$8,388$6,549$5,058$3,870$2,937$925
24 years$7,953$6,136$4,678$3,530$2,640$781
25 years$7,554$5,758$4,332$3,223$2,376$660
26 years$7,186$5,412$4,018$2,947$2,140$558
27 years$6,846$5,093$3,731$2,698$1,929$472
28 years$6,530$4,799$3,469$2,472$1,741$399
29 years$6,237$4,527$3,228$2,267$1,572$338
30 years$5,964$4,276$3,007$2,080$1,420$286
31 years$5,709$4,042$2,803$1,910$1,284$242
32 years$5,471$3,824$2,615$1,756$1,162$205
33 years$5,247$3,622$2,442$1,615$1,051$173
34 years$5,037$3,433$2,282$1,486$952$147
35 years$4,840$3,256$2,133$1,368$862$124
36 years$4,654$3,090$1,995$1,259$781$105
37 years$4,478$2,935$1,868$1,160$708$89
38 years$4,312$2,789$1,749$1,070$642$76
39 years$4,155$2,652$1,639$986$582$64
40 years$4,006$2,524$1,536$910$528$54
41 years$3,865$2,402$1,440$839$479$46
42 years$3,730$2,288$1,351$775$435$39
43 years$3,603$2,180$1,268$715$394$33
44 years$3,481$2,078$1,190$660$358$28
45 years$3,366$1,981$1,117$610$325$24
46 years$3,255$1,890$1,049$563$295$20
47 years$3,150$1,804$986$520$268$17
48 years$3,049$1,722$926$481$243$14
49 years$2,953$1,644$871$444$221$12
50 years$2,861$1,571$819$411$201$10

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 $6,887 every year, while hoping to spend $48,486 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: 62/18/20 Blend
67$2,930,000$2,930,000$2,930,000$2,930,000
68$3,235,964$3,080,674$3,035,259$3,419,461
69$3,514,444$3,180,038$3,085,351$3,643,468
70$3,819,703$3,282,646$3,135,497$3,881,901
71$4,154,423$3,388,606$3,185,646$4,141,101
72$4,521,555$3,498,029$3,235,746$4,423,093
73$4,924,351$3,611,030$3,285,741$4,730,111
74$5,366,392$3,727,728$3,335,571$5,064,611
75$5,851,625$3,848,247$3,385,173$5,429,299
76$6,384,393$3,972,713$3,434,479$5,827,156
77$6,969,485$4,101,260$3,483,418$6,261,460
78$7,612,173$4,234,023$3,531,913$6,735,827
79$8,318,268$4,371,143$3,579,885$7,254,235
80$9,094,168$4,512,765$3,627,248$7,821,067
81$9,946,924$4,659,042$3,673,912$8,441,149
82$10,884,303$4,810,128$3,719,781$9,119,800
83$11,914,864$4,966,186$3,764,755$9,862,874
84$13,048,033$5,127,382$3,808,727$10,676,824
85$14,294,197$5,293,889$3,851,585$11,568,755
86$15,664,801$5,465,885$3,893,209$12,546,497
87$17,172,453$5,643,556$3,933,474$13,618,673
88$18,831,046$5,827,093$3,972,248$14,794,784
89$20,655,886$6,016,694$4,009,392$16,085,296
90$22,663,838$6,212,563$4,044,758$17,501,742
91$24,873,485$6,414,914$4,078,192$19,056,825
92$27,305,300$6,623,964$4,109,531$20,764,542
93$29,981,844$6,839,942$4,138,604$22,640,315
94$32,927,974$7,063,082$4,165,229$24,701,136
95$36,171,082$7,293,627$4,189,219$26,965,724
96$39,741,346$7,531,829$4,210,372$29,454,708
97$43,672,024$7,777,948$4,228,479$32,190,815
98$47,999,757$8,032,255$4,243,321$35,199,087
99$52,764,925$8,295,028$4,254,665$38,507,116
100$58,012,020$8,566,557$4,262,268$42,145,308