Can I retire at age 68 with 2,960,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $2,960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$244,434$242,257$240,132$238,059$236,035$229,399
2 years$121,007$118,753$116,569$114,451$112,397$105,762
3 years$79,870$77,607$75,428$73,330$71,310$64,883
4 years$59,306$57,049$54,892$52,830$50,859$44,690
5 years$46,970$44,727$42,599$40,579$38,662$32,769
6 years$38,749$36,523$34,426$32,451$30,592$24,979
7 years$32,879$30,672$28,608$26,680$24,879$19,547
8 years$28,479$26,292$24,262$22,381$20,640$15,585
9 years$25,058$22,892$20,897$19,064$17,382$12,600
10 years$22,323$20,178$18,218$16,433$14,810$10,295
11 years$20,087$17,963$16,039$14,302$12,737$8,481
12 years$18,225$16,123$14,234$12,545$11,038$7,032
13 years$16,650$14,570$12,717$11,075$9,625$5,862
14 years$15,302$13,244$11,427$9,831$8,437$4,907
15 years$14,135$12,099$10,317$8,768$7,429$4,122
16 years$13,114$11,100$9,354$7,850$6,566$3,473
17 years$12,214$10,223$8,511$7,054$5,822$2,933
18 years$11,416$9,446$7,770$6,357$5,176$2,482
19 years$10,702$8,755$7,113$5,744$4,614$2,104
20 years$10,060$8,135$6,528$5,202$4,121$1,785
21 years$9,480$7,578$6,004$4,721$3,688$1,517
22 years$8,954$7,074$5,534$4,293$3,306$1,291
23 years$8,474$6,616$5,110$3,909$2,967$1,099
24 years$8,035$6,199$4,726$3,566$2,667$936
25 years$7,631$5,817$4,377$3,256$2,400$798
26 years$7,260$5,467$4,059$2,977$2,162$681
27 years$6,916$5,145$3,769$2,725$1,949$581
28 years$6,597$4,848$3,504$2,497$1,759$496
29 years$6,301$4,574$3,261$2,290$1,588$423
30 years$6,025$4,319$3,037$2,101$1,435$361
31 years$5,768$4,083$2,832$1,930$1,297$309
32 years$5,527$3,864$2,642$1,774$1,173$264
33 years$5,301$3,659$2,467$1,631$1,062$225
34 years$5,089$3,468$2,305$1,501$962$193
35 years$4,889$3,289$2,155$1,382$871$165
36 years$4,701$3,122$2,016$1,272$789$141
37 years$4,524$2,965$1,887$1,172$715$120
38 years$4,356$2,818$1,767$1,081$648$103
39 years$4,197$2,680$1,655$996$588$88
40 years$4,047$2,549$1,552$919$533$75
41 years$3,904$2,427$1,455$848$484$64
42 years$3,769$2,311$1,365$782$439$55
43 years$3,640$2,202$1,281$722$398$47
44 years$3,517$2,099$1,202$667$362$40
45 years$3,400$2,002$1,129$616$328$34
46 years$3,288$1,909$1,060$569$298$29
47 years$3,182$1,822$996$526$271$25
48 years$3,080$1,740$936$486$246$22
49 years$2,983$1,661$880$449$223$18
50 years$2,890$1,587$827$415$203$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $2,960,000, adding $3,201 every year, while hoping to spend $26,497 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: 60/35/5 Blend
67$2,960,000$2,960,000$2,960,000$2,960,000
68$3,265,222$3,108,342$3,062,462$3,458,181
69$3,570,082$3,232,458$3,136,862$3,711,689
70$3,905,150$3,361,768$3,212,866$3,984,710
71$4,273,478$3,496,498$3,290,500$4,281,800
72$4,678,431$3,636,884$3,369,790$4,605,271
73$5,123,715$3,783,176$3,450,762$4,957,665
74$5,613,412$3,935,629$3,533,441$5,341,780
75$6,152,022$4,094,517$3,617,853$5,760,689
76$6,744,499$4,260,120$3,704,022$6,217,774
77$7,396,307$4,432,734$3,791,975$6,716,758
78$8,113,460$4,612,668$3,881,737$7,261,732
79$8,902,589$4,800,245$3,973,331$7,857,200
80$9,770,998$4,995,802$4,066,782$8,508,117
81$10,726,736$5,199,692$4,162,116$9,219,935
82$11,778,671$5,412,284$4,259,354$9,998,656
83$12,936,574$5,633,965$4,358,521$10,850,882
84$14,211,212$5,865,137$4,459,639$11,783,882
85$15,614,449$6,106,222$4,562,730$12,805,657
86$17,159,357$6,357,661$4,667,816$13,925,014
87$18,860,342$6,619,917$4,774,918$15,151,647
88$20,733,275$6,893,471$4,884,056$16,496,230
89$22,795,646$7,178,828$4,995,249$17,970,512
90$25,066,728$7,476,517$5,108,516$19,587,433
91$27,567,756$7,787,089$5,223,874$21,361,237
92$30,322,133$8,111,122$5,341,339$23,307,611
93$33,355,644$8,449,220$5,460,928$25,443,825
94$36,696,704$8,802,015$5,582,652$27,788,903
95$40,376,623$9,170,170$5,706,527$30,363,789
96$44,429,905$9,554,374$5,832,562$33,191,552
97$48,894,570$9,955,354$5,960,768$36,297,597
98$53,812,515$10,373,864$6,091,152$39,709,905
99$59,229,907$10,810,699$6,223,721$43,459,294
100$65,197,621$11,266,687$6,358,479$47,579,706