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

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 $2,960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$244,434$242,257$240,132$238,059$236,035$233,279
2 years$121,007$118,753$116,569$114,451$112,397$109,623
3 years$79,870$77,607$75,428$73,330$71,310$68,604
4 years$59,306$57,049$54,892$52,830$50,859$48,242
5 years$46,970$44,727$42,599$40,579$38,662$36,141
6 years$38,749$36,523$34,426$32,451$30,592$28,171
7 years$32,879$30,672$28,608$26,680$24,879$22,559
8 years$28,479$26,292$24,262$22,381$20,640$18,420
9 years$25,058$22,892$20,897$19,064$17,382$15,262
10 years$22,323$20,178$18,218$16,433$14,810$12,788
11 years$20,087$17,963$16,039$14,302$12,737$10,812
12 years$18,225$16,123$14,234$12,545$11,038$9,206
13 years$16,650$14,570$12,717$11,075$9,625$7,886
14 years$15,302$13,244$11,427$9,831$8,437$6,788
15 years$14,135$12,099$10,317$8,768$7,429$5,866
16 years$13,114$11,100$9,354$7,850$6,566$5,087
17 years$12,214$10,223$8,511$7,054$5,822$4,424
18 years$11,416$9,446$7,770$6,357$5,176$3,857
19 years$10,702$8,755$7,113$5,744$4,614$3,370
20 years$10,060$8,135$6,528$5,202$4,121$2,950
21 years$9,480$7,578$6,004$4,721$3,688$2,586
22 years$8,954$7,074$5,534$4,293$3,306$2,270
23 years$8,474$6,616$5,110$3,909$2,967$1,996
24 years$8,035$6,199$4,726$3,566$2,667$1,756
25 years$7,631$5,817$4,377$3,256$2,400$1,546
26 years$7,260$5,467$4,059$2,977$2,162$1,363
27 years$6,916$5,145$3,769$2,725$1,949$1,202
28 years$6,597$4,848$3,504$2,497$1,759$1,061
29 years$6,301$4,574$3,261$2,290$1,588$937
30 years$6,025$4,319$3,037$2,101$1,435$827
31 years$5,768$4,083$2,832$1,930$1,297$731
32 years$5,527$3,864$2,642$1,774$1,173$646
33 years$5,301$3,659$2,467$1,631$1,062$572
34 years$5,089$3,468$2,305$1,501$962$506
35 years$4,889$3,289$2,155$1,382$871$447
36 years$4,701$3,122$2,016$1,272$789$396
37 years$4,524$2,965$1,887$1,172$715$351
38 years$4,356$2,818$1,767$1,081$648$310
39 years$4,197$2,680$1,655$996$588$275
40 years$4,047$2,549$1,552$919$533$243
41 years$3,904$2,427$1,455$848$484$216
42 years$3,769$2,311$1,365$782$439$191
43 years$3,640$2,202$1,281$722$398$169
44 years$3,517$2,099$1,202$667$362$150
45 years$3,400$2,002$1,129$616$328$133
46 years$3,288$1,909$1,060$569$298$118
47 years$3,182$1,822$996$526$271$104
48 years$3,080$1,740$936$486$246$92
49 years$2,983$1,661$880$449$223$82
50 years$2,890$1,587$827$415$203$73

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 $5,439 every year, while hoping to spend $22,689 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: 30/46/24 Blend
67$2,960,000$2,960,000$2,960,000$2,960,000
68$3,267,530$3,110,650$3,064,770$3,341,101
69$3,576,678$3,238,931$3,143,299$3,526,504
70$3,916,597$3,372,738$3,223,698$3,723,437
71$4,290,404$3,512,316$3,306,007$3,934,834
72$4,701,531$3,657,925$3,390,263$4,161,963
73$5,153,758$3,809,833$3,476,507$4,406,214
74$5,651,250$3,968,325$3,564,780$4,669,112
75$6,198,600$4,133,695$3,655,122$4,952,325
76$6,800,863$4,306,251$3,747,574$5,257,687
77$7,463,611$4,486,319$3,842,179$5,587,205
78$8,192,986$4,674,234$3,938,978$5,943,083
79$8,995,752$4,870,353$4,038,015$6,327,739
80$9,879,363$5,075,044$4,139,332$6,743,827
81$10,852,032$5,288,696$4,242,974$7,194,259
82$11,922,810$5,511,713$4,348,985$7,682,236
83$13,101,670$5,744,520$4,457,409$8,211,269
84$14,399,600$5,987,561$4,568,292$8,785,216
85$15,828,707$6,241,300$4,681,678$9,408,317
86$17,402,335$6,506,223$4,797,613$10,085,227
87$19,135,184$6,782,839$4,916,144$10,821,064
88$21,043,455$7,071,680$5,037,317$11,621,453
89$23,144,998$7,373,303$5,161,179$12,492,575
90$25,459,485$7,688,292$5,287,775$13,441,227
91$28,008,591$8,017,257$5,417,154$14,474,880
92$30,816,202$8,360,837$5,549,363$15,601,753
93$33,908,636$8,719,700$5,684,449$16,830,879
94$37,314,899$9,094,547$5,822,459$18,172,198
95$41,066,949$9,486,110$5,963,442$19,636,641
96$45,200,005$9,895,157$6,107,445$21,236,233
97$49,752,875$10,322,490$6,254,514$22,984,204
98$54,768,327$10,768,950$6,404,699$24,895,110
99$60,293,485$11,235,417$6,558,045$26,984,967
100$66,380,281$11,722,813$6,714,600$29,271,399