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%17%
1 years$244,434$242,257$240,132$238,059$236,035$229,306
2 years$121,007$118,753$116,569$114,451$112,397$105,671
3 years$79,870$77,607$75,428$73,330$71,310$64,796
4 years$59,306$57,049$54,892$52,830$50,859$44,608
5 years$46,970$44,727$42,599$40,579$38,662$32,691
6 years$38,749$36,523$34,426$32,451$30,592$24,906
7 years$32,879$30,672$28,608$26,680$24,879$19,479
8 years$28,479$26,292$24,262$22,381$20,640$15,522
9 years$25,058$22,892$20,897$19,064$17,382$12,541
10 years$22,323$20,178$18,218$16,433$14,810$10,240
11 years$20,087$17,963$16,039$14,302$12,737$8,430
12 years$18,225$16,123$14,234$12,545$11,038$6,986
13 years$16,650$14,570$12,717$11,075$9,625$5,819
14 years$15,302$13,244$11,427$9,831$8,437$4,868
15 years$14,135$12,099$10,317$8,768$7,429$4,087
16 years$13,114$11,100$9,354$7,850$6,566$3,441
17 years$12,214$10,223$8,511$7,054$5,822$2,903
18 years$11,416$9,446$7,770$6,357$5,176$2,455
19 years$10,702$8,755$7,113$5,744$4,614$2,079
20 years$10,060$8,135$6,528$5,202$4,121$1,763
21 years$9,480$7,578$6,004$4,721$3,688$1,497
22 years$8,954$7,074$5,534$4,293$3,306$1,273
23 years$8,474$6,616$5,110$3,909$2,967$1,083
24 years$8,035$6,199$4,726$3,566$2,667$922
25 years$7,631$5,817$4,377$3,256$2,400$785
26 years$7,260$5,467$4,059$2,977$2,162$669
27 years$6,916$5,145$3,769$2,725$1,949$570
28 years$6,597$4,848$3,504$2,497$1,759$486
29 years$6,301$4,574$3,261$2,290$1,588$415
30 years$6,025$4,319$3,037$2,101$1,435$354
31 years$5,768$4,083$2,832$1,930$1,297$302
32 years$5,527$3,864$2,642$1,774$1,173$258
33 years$5,301$3,659$2,467$1,631$1,062$220
34 years$5,089$3,468$2,305$1,501$962$188
35 years$4,889$3,289$2,155$1,382$871$161
36 years$4,701$3,122$2,016$1,272$789$137
37 years$4,524$2,965$1,887$1,172$715$117
38 years$4,356$2,818$1,767$1,081$648$100
39 years$4,197$2,680$1,655$996$588$86
40 years$4,047$2,549$1,552$919$533$73
41 years$3,904$2,427$1,455$848$484$63
42 years$3,769$2,311$1,365$782$439$53
43 years$3,640$2,202$1,281$722$398$46
44 years$3,517$2,099$1,202$667$362$39
45 years$3,400$2,002$1,129$616$328$33
46 years$3,288$1,909$1,060$569$298$28
47 years$3,182$1,822$996$526$271$24
48 years$3,080$1,740$936$486$246$21
49 years$2,983$1,661$880$449$223$18
50 years$2,890$1,587$827$415$203$15

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 $4,708 every year, while hoping to spend $46,345 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: 68/18/14 Blend
67$2,960,000$2,960,000$2,960,000$2,960,000
68$3,266,776$3,109,896$3,064,016$3,478,132
69$3,550,677$3,212,970$3,117,350$3,722,544
70$3,861,982$3,319,542$3,170,917$3,983,826
71$4,203,438$3,429,733$3,224,677$4,268,417
72$4,578,069$3,543,671$3,278,585$4,578,601
73$4,989,209$3,661,488$3,332,594$4,916,895
74$5,440,526$3,783,318$3,386,653$5,286,065
75$5,936,064$3,909,305$3,440,710$5,689,162
76$6,480,275$4,039,594$3,494,707$6,129,542
77$7,078,067$4,174,337$3,548,583$6,610,900
78$7,734,842$4,313,692$3,602,273$7,137,308
79$8,456,555$4,457,822$3,655,708$7,713,247
80$9,249,764$4,606,897$3,708,815$8,343,654
81$10,121,697$4,761,091$3,761,517$9,033,966
82$11,080,312$4,920,587$3,813,730$9,790,172
83$12,134,382$5,085,574$3,865,368$10,618,867
84$13,293,569$5,256,247$3,916,338$11,527,315
85$14,568,520$5,432,810$3,966,542$12,523,520
86$15,970,964$5,615,473$4,015,877$13,616,296
87$17,513,826$5,804,455$4,064,232$14,815,353
88$19,211,346$5,999,982$4,111,493$16,131,389
89$21,079,212$6,202,290$4,157,538$17,576,187
90$23,134,713$6,411,623$4,202,236$19,162,730
91$25,396,895$6,628,235$4,245,453$20,905,320
92$27,886,747$6,852,387$4,287,044$22,819,712
93$30,627,394$7,084,352$4,326,858$24,923,266
94$33,644,317$7,324,414$4,364,737$27,235,108
95$36,965,594$7,572,867$4,400,512$29,776,308
96$40,622,161$7,830,015$4,434,006$32,570,083
97$44,648,110$8,096,174$4,465,034$35,642,012
98$49,081,005$8,371,674$4,493,400$39,020,276
99$53,962,236$8,656,854$4,518,898$42,735,929
100$59,337,414$8,952,071$4,541,311$46,823,185