Can I retire at age 68 with 3,400,000?

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 $3,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.4%
1 years$280,769$278,268$275,828$273,446$271,121$265,105
2 years$138,994$136,406$133,897$131,465$129,105$123,076
3 years$91,743$89,143$86,640$84,231$81,910$76,055
4 years$68,121$65,529$63,052$60,683$58,419$52,783
5 years$53,952$51,376$48,931$46,611$44,409$39,009
6 years$44,509$41,952$39,543$37,275$35,139$29,981
7 years$37,767$35,231$32,861$30,646$28,578$23,661
8 years$32,712$30,200$27,869$25,708$23,708$19,032
9 years$28,783$26,294$24,003$21,897$19,965$15,526
10 years$25,642$23,177$20,926$18,876$17,012$12,804
11 years$23,073$20,633$18,423$16,428$14,631$10,650
12 years$20,934$18,519$16,350$14,409$12,679$8,918
13 years$19,126$16,736$14,608$12,721$11,056$7,509
14 years$17,577$15,213$13,125$11,292$9,692$6,351
15 years$16,236$13,897$11,850$10,071$8,533$5,392
16 years$15,063$12,750$10,744$9,017$7,542$4,591
17 years$14,030$11,742$9,777$8,102$6,687$3,920
18 years$13,112$10,851$8,925$7,302$5,946$3,354
19 years$12,293$10,056$8,170$6,598$5,300$2,875
20 years$11,556$9,345$7,498$5,975$4,734$2,468
21 years$10,890$8,704$6,897$5,423$4,236$2,121
22 years$10,285$8,125$6,357$4,931$3,797$1,826
23 years$9,734$7,599$5,869$4,491$3,408$1,573
24 years$9,229$7,120$5,428$4,096$3,064$1,356
25 years$8,766$6,682$5,027$3,740$2,757$1,170
26 years$8,339$6,280$4,663$3,420$2,483$1,010
27 years$7,944$5,910$4,330$3,130$2,239$872
28 years$7,578$5,569$4,025$2,868$2,020$754
29 years$7,238$5,254$3,746$2,630$1,824$651
30 years$6,921$4,962$3,489$2,414$1,648$563
31 years$6,625$4,690$3,253$2,217$1,490$487
32 years$6,348$4,438$3,035$2,037$1,348$422
33 years$6,089$4,203$2,834$1,874$1,220$365
34 years$5,845$3,983$2,648$1,724$1,104$316
35 years$5,616$3,778$2,475$1,587$1,000$273
36 years$5,400$3,586$2,316$1,461$906$237
37 years$5,196$3,406$2,167$1,347$821$205
38 years$5,003$3,237$2,030$1,241$745$177
39 years$4,821$3,078$1,901$1,144$675$154
40 years$4,648$2,928$1,782$1,056$613$133
41 years$4,484$2,788$1,671$974$556$115
42 years$4,329$2,655$1,568$899$504$100
43 years$4,181$2,529$1,471$830$458$86
44 years$4,040$2,411$1,381$766$415$75
45 years$3,905$2,299$1,297$707$377$65
46 years$3,777$2,193$1,218$654$342$56
47 years$3,655$2,093$1,144$604$311$49
48 years$3,538$1,998$1,075$558$282$42
49 years$3,426$1,908$1,011$516$256$37
50 years$3,320$1,823$950$477$233$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $3,400,000, adding $6,427 every year, while hoping to spend $35,908 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: 61/19/20 Blend
67$3,400,000$3,400,000$3,400,000$3,400,000
68$3,753,429$3,573,229$3,520,529$3,962,486
69$4,098,073$3,710,112$3,600,261$4,241,432
70$4,476,668$3,852,498$3,681,461$4,541,188
71$4,892,637$4,000,620$3,764,139$4,867,520
72$5,349,755$4,154,719$3,848,306$5,223,014
73$5,852,178$4,315,048$3,933,973$5,610,519
74$6,404,485$4,481,871$4,021,146$6,033,166
75$7,011,723$4,655,463$4,109,835$6,494,404
76$7,679,449$4,836,111$4,200,045$6,998,027
77$8,413,788$5,024,116$4,291,782$7,548,215
78$9,221,488$5,219,790$4,385,049$8,149,566
79$10,109,981$5,423,462$4,479,850$8,807,142
80$11,087,460$5,635,472$4,576,186$9,526,520
81$12,162,949$5,856,178$4,674,056$10,313,836
82$13,346,392$6,085,953$4,773,459$11,175,850
83$14,648,745$6,325,186$4,874,391$12,120,002
84$16,082,079$6,574,283$4,976,846$13,154,489
85$17,659,698$6,833,669$5,080,817$14,288,335
86$19,396,257$7,103,789$5,186,294$15,531,479
87$21,307,906$7,385,105$5,293,266$16,894,867
88$23,412,440$7,678,103$5,401,718$18,390,556
89$25,729,467$7,983,288$5,511,633$20,031,824
90$28,280,593$8,301,189$5,622,993$21,833,296
91$31,089,626$8,632,360$5,735,776$23,811,082
92$34,182,799$8,977,376$5,849,955$25,982,927
93$37,589,019$9,336,843$5,965,503$28,368,378
94$41,340,141$9,711,390$6,082,389$30,988,966
95$45,471,263$10,101,676$6,200,578$33,868,411
96$50,021,065$10,508,391$6,320,030$37,032,843
97$55,032,166$10,932,255$6,440,704$40,511,047
98$60,551,532$11,374,020$6,562,552$44,334,733
99$66,630,914$11,834,473$6,685,523$48,538,838
100$73,327,342$12,314,437$6,809,563$53,161,850