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

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 $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%12%
1 years$247,737$245,530$243,378$241,276$239,224$237,220
2 years$122,642$120,358$118,144$115,998$113,916$111,896
3 years$80,949$78,655$76,447$74,321$72,273$70,300
4 years$60,107$57,820$55,634$53,544$51,546$49,635
5 years$47,605$45,332$43,174$41,127$39,184$37,341
6 years$39,273$37,017$34,891$32,890$31,005$29,232
7 years$33,324$31,087$28,995$27,040$25,216$23,513
8 years$28,864$26,647$24,590$22,684$20,919$19,287
9 years$25,397$23,201$21,179$19,321$17,617$16,055
10 years$22,625$20,450$18,465$16,655$15,010$13,518
11 years$20,359$18,206$16,256$14,495$12,909$11,485
12 years$18,471$16,341$14,427$12,714$11,187$9,830
13 years$16,875$14,767$12,889$11,225$9,755$8,463
14 years$15,509$13,423$11,581$9,964$8,551$7,323
15 years$14,326$12,262$10,456$8,886$7,529$6,363
16 years$13,291$11,250$9,480$7,957$6,654$5,549
17 years$12,379$10,361$8,626$7,149$5,900$4,853
18 years$11,570$9,574$7,875$6,443$5,246$4,255
19 years$10,846$8,873$7,209$5,821$4,676$3,739
20 years$10,196$8,245$6,616$5,272$4,177$3,292
21 years$9,608$7,680$6,086$4,785$3,738$2,904
22 years$9,075$7,169$5,609$4,351$3,350$2,564
23 years$8,589$6,705$5,179$3,962$3,007$2,268
24 years$8,143$6,282$4,789$3,614$2,703$2,008
25 years$7,734$5,896$4,436$3,300$2,432$1,779
26 years$7,358$5,541$4,114$3,018$2,191$1,578
27 years$7,009$5,215$3,820$2,762$1,975$1,401
28 years$6,686$4,914$3,551$2,531$1,782$1,244
29 years$6,386$4,636$3,305$2,321$1,610$1,105
30 years$6,107$4,378$3,078$2,130$1,454$983
31 years$5,846$4,139$2,870$1,956$1,315$874
32 years$5,601$3,916$2,678$1,798$1,189$778
33 years$5,373$3,708$2,500$1,653$1,076$693
34 years$5,158$3,515$2,336$1,521$975$617
35 years$4,955$3,334$2,184$1,400$883$550
36 years$4,765$3,164$2,043$1,290$800$490
37 years$4,585$3,005$1,912$1,188$725$436
38 years$4,415$2,856$1,791$1,095$657$389
39 years$4,254$2,716$1,678$1,010$596$347
40 years$4,101$2,584$1,573$931$541$309
41 years$3,957$2,460$1,475$859$490$276
42 years$3,819$2,342$1,383$793$445$246
43 years$3,689$2,232$1,298$732$404$219
44 years$3,564$2,127$1,218$676$367$196
45 years$3,446$2,029$1,144$624$333$175
46 years$3,333$1,935$1,074$577$302$156
47 years$3,225$1,847$1,009$533$274$139
48 years$3,122$1,763$949$492$249$124
49 years$3,023$1,684$892$455$226$111
50 years$2,929$1,608$838$421$206$99

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 $4,707 every year, while hoping to spend $24,377 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: 72/15/13 Blend
67$3,000,000$3,000,000$3,000,000$3,000,000
68$3,310,855$3,151,855$3,105,355$3,539,716
69$3,622,626$3,280,359$3,183,448$3,820,421
70$3,965,379$3,414,343$3,263,339$4,124,261
71$4,342,251$3,554,049$3,345,064$4,456,321
72$4,756,695$3,699,731$3,428,658$4,819,386
73$5,212,515$3,851,656$3,514,155$5,216,521
74$5,713,904$4,010,099$3,601,592$5,651,100
75$6,265,481$4,175,352$3,691,004$6,126,840
76$6,872,334$4,347,719$3,782,427$6,647,830
77$7,540,071$4,527,516$3,875,897$7,218,575
78$8,274,871$4,715,076$3,971,452$7,844,034
79$9,083,539$4,910,747$4,069,127$8,529,669
80$9,973,578$5,114,892$4,168,961$9,281,491
81$10,953,252$5,327,890$4,270,990$10,106,125
82$12,031,667$5,550,140$4,375,251$11,010,862
83$13,218,857$5,782,057$4,481,783$12,003,736
84$14,525,880$6,024,077$4,590,622$13,093,592
85$15,964,918$6,276,656$4,701,806$14,290,175
86$17,549,396$6,540,268$4,815,373$15,604,215
87$19,294,107$6,815,413$4,931,360$17,047,534
88$21,215,350$7,102,613$5,049,805$18,633,151
89$23,331,088$7,402,413$5,170,745$20,375,410
90$25,661,111$7,715,383$5,294,217$22,290,108
91$28,227,229$8,042,122$5,420,259$24,394,649
92$31,053,476$8,383,255$5,548,906$26,708,205
93$34,166,332$8,739,436$5,680,196$29,251,896
94$37,594,979$9,111,350$5,814,164$32,048,989
95$41,371,575$9,499,714$5,950,846$35,125,115
96$45,531,553$9,905,278$6,090,278$38,508,512
97$50,113,962$10,328,827$6,232,492$42,230,292
98$55,161,829$10,771,182$6,377,524$46,324,728
99$60,722,571$11,233,205$6,525,406$50,829,582
100$66,848,436$11,715,795$6,676,170$55,786,456