Can I retire at age 68 with 3,000,000?

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 $3,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.2%
1 years$247,737$245,530$243,378$241,276$239,224$230,370
2 years$122,642$120,358$118,144$115,998$113,916$105,096
3 years$80,949$78,655$76,447$74,321$72,273$63,764
4 years$60,107$57,820$55,634$53,544$51,546$43,413
5 years$47,605$45,332$43,174$41,127$39,184$31,448
6 years$39,273$37,017$34,891$32,890$31,005$23,672
7 years$33,324$31,087$28,995$27,040$25,216$18,283
8 years$28,864$26,647$24,590$22,684$20,919$14,380
9 years$25,397$23,201$21,179$19,321$17,617$11,464
10 years$22,625$20,450$18,465$16,655$15,010$9,232
11 years$20,359$18,206$16,256$14,495$12,909$7,493
12 years$18,471$16,341$14,427$12,714$11,187$6,119
13 years$16,875$14,767$12,889$11,225$9,755$5,022
14 years$15,509$13,423$11,581$9,964$8,551$4,137
15 years$14,326$12,262$10,456$8,886$7,529$3,419
16 years$13,291$11,250$9,480$7,957$6,654$2,833
17 years$12,379$10,361$8,626$7,149$5,900$2,353
18 years$11,570$9,574$7,875$6,443$5,246$1,957
19 years$10,846$8,873$7,209$5,821$4,676$1,630
20 years$10,196$8,245$6,616$5,272$4,177$1,359
21 years$9,608$7,680$6,086$4,785$3,738$1,135
22 years$9,075$7,169$5,609$4,351$3,350$948
23 years$8,589$6,705$5,179$3,962$3,007$793
24 years$8,143$6,282$4,789$3,614$2,703$663
25 years$7,734$5,896$4,436$3,300$2,432$555
26 years$7,358$5,541$4,114$3,018$2,191$465
27 years$7,009$5,215$3,820$2,762$1,975$389
28 years$6,686$4,914$3,551$2,531$1,782$326
29 years$6,386$4,636$3,305$2,321$1,610$273
30 years$6,107$4,378$3,078$2,130$1,454$229
31 years$5,846$4,139$2,870$1,956$1,315$192
32 years$5,601$3,916$2,678$1,798$1,189$161
33 years$5,373$3,708$2,500$1,653$1,076$135
34 years$5,158$3,515$2,336$1,521$975$113
35 years$4,955$3,334$2,184$1,400$883$95
36 years$4,765$3,164$2,043$1,290$800$80
37 years$4,585$3,005$1,912$1,188$725$67
38 years$4,415$2,856$1,791$1,095$657$56
39 years$4,254$2,716$1,678$1,010$596$47
40 years$4,101$2,584$1,573$931$541$39
41 years$3,957$2,460$1,475$859$490$33
42 years$3,819$2,342$1,383$793$445$28
43 years$3,689$2,232$1,298$732$404$23
44 years$3,564$2,127$1,218$676$367$19
45 years$3,446$2,029$1,144$624$333$16
46 years$3,333$1,935$1,074$577$302$14
47 years$3,225$1,847$1,009$533$274$12
48 years$3,122$1,763$949$492$249$10
49 years$3,023$1,684$892$455$226$8
50 years$2,929$1,608$838$421$206$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $3,000,000, adding $4,616 every year, while hoping to spend $42,269 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: 39/49/12 Blend
67$3,000,000$3,000,000$3,000,000$3,000,000
68$3,310,761$3,151,761$3,105,261$3,427,728
69$3,603,485$3,261,224$3,164,314$3,620,495
70$3,924,650$3,374,633$3,223,928$3,824,309
71$4,277,113$3,492,138$3,284,077$4,043,748
72$4,664,019$3,613,894$3,344,735$4,280,241
73$5,088,835$3,740,061$3,405,869$4,535,356
74$5,555,378$3,870,806$3,467,448$4,810,817
75$6,067,854$4,006,303$3,529,436$5,108,516
76$6,630,897$4,146,734$3,591,793$5,430,533
77$7,249,610$4,292,285$3,654,480$5,779,152
78$7,929,616$4,443,152$3,717,450$6,156,885
79$8,677,109$4,599,540$3,780,658$6,566,493
80$9,498,916$4,761,658$3,844,051$7,011,013
81$10,402,553$4,929,728$3,907,575$7,493,781
82$11,396,307$5,103,978$3,971,172$8,018,469
83$12,489,303$5,284,645$4,034,779$8,589,114
84$13,691,598$5,471,979$4,098,330$9,210,158
85$15,014,271$5,666,236$4,161,754$9,886,485
86$16,469,529$5,867,684$4,224,975$10,623,471
87$18,070,824$6,076,604$4,287,915$11,427,031
88$19,832,975$6,293,284$4,350,487$12,303,672
89$21,772,312$6,518,029$4,412,602$13,260,558
90$23,906,827$6,751,151$4,474,163$14,305,570
91$26,256,345$6,992,979$4,535,069$15,447,386
92$28,842,711$7,243,854$4,595,213$16,695,556
93$31,689,996$7,504,131$4,654,481$18,060,593
94$34,824,721$7,774,179$4,712,751$19,554,072
95$38,276,112$8,054,383$4,769,898$21,188,734
96$42,076,372$8,345,145$4,825,786$22,978,611
97$46,260,986$8,646,881$4,880,274$24,939,149
98$50,869,054$8,960,025$4,933,211$27,087,358
99$55,943,663$9,285,032$4,984,439$29,441,969
100$61,532,290$9,622,372$5,033,790$32,023,610