Can I retire at age 68 with 6,200,000?

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 $6,200,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$511,990$507,430$502,980$498,637$494,397$491,281
2 years$253,460$248,740$244,165$239,729$235,427$232,284
3 years$167,295$162,554$157,991$153,597$149,365$146,292
4 years$124,221$119,495$114,977$110,658$106,528$103,549
5 years$98,383$93,685$89,227$84,996$80,981$78,105
6 years$81,164$76,501$72,109$67,972$64,077$61,308
7 years$68,869$64,245$59,923$55,883$52,112$49,450
8 years$59,652$55,070$50,819$46,879$43,232$40,678
9 years$52,487$47,949$43,770$39,931$36,408$33,960
10 years$46,758$42,264$38,160$34,421$31,021$28,680
11 years$42,074$37,625$33,596$29,956$26,679$24,442
12 years$38,174$33,771$29,815$26,276$23,120$20,985
13 years$34,876$30,519$26,638$23,198$20,161$18,126
14 years$32,052$27,741$23,934$20,592$17,673$15,736
15 years$29,606$25,342$21,609$18,365$15,561$13,719
16 years$27,468$23,250$19,592$16,443$13,752$12,003
17 years$25,584$21,413$17,828$14,774$12,194$10,534
18 years$23,911$19,786$16,275$13,315$10,842$9,270
19 years$22,416$18,338$14,899$12,031$9,664$8,175
20 years$21,072$17,040$13,673$10,896$8,632$7,224
21 years$19,857$15,872$12,577$9,889$7,725$6,395
22 years$18,755$14,816$11,591$8,991$6,924$5,669
23 years$17,750$13,857$10,703$8,189$6,215$5,032
24 years$16,830$12,984$9,898$7,469$5,587$4,472
25 years$15,985$12,184$9,168$6,821$5,027$3,978
26 years$15,206$11,451$8,503$6,237$4,528$3,542
27 years$14,486$10,777$7,895$5,708$4,083$3,157
28 years$13,818$10,155$7,340$5,230$3,684$2,815
29 years$13,198$9,580$6,830$4,796$3,326$2,512
30 years$12,621$9,048$6,362$4,402$3,006$2,242
31 years$12,081$8,553$5,931$4,043$2,717$2,003
32 years$11,576$8,093$5,534$3,715$2,458$1,790
33 years$11,103$7,664$5,167$3,416$2,224$1,600
34 years$10,659$7,264$4,828$3,143$2,014$1,431
35 years$10,241$6,890$4,514$2,894$1,824$1,280
36 years$9,847$6,539$4,222$2,665$1,653$1,145
37 years$9,475$6,211$3,952$2,455$1,498$1,025
38 years$9,124$5,902$3,701$2,263$1,358$917
39 years$8,791$5,613$3,467$2,087$1,232$821
40 years$8,476$5,340$3,250$1,925$1,117$736
41 years$8,177$5,083$3,047$1,776$1,013$659
42 years$7,894$4,841$2,859$1,639$920$590
43 years$7,624$4,612$2,682$1,513$835$529
44 years$7,366$4,397$2,518$1,397$758$474
45 years$7,122$4,193$2,364$1,290$688$425
46 years$6,888$4,000$2,221$1,192$624$380
47 years$6,665$3,817$2,086$1,101$567$341
48 years$6,452$3,644$1,960$1,017$515$306
49 years$6,248$3,480$1,843$940$468$274
50 years$6,053$3,324$1,732$869$425$246

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $6,200,000, adding $5,187 every year, while hoping to spend $42,996 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: 71/14/15 Blend
67$6,200,000$6,200,000$6,200,000$6,200,000
68$6,837,750$6,509,150$6,413,050$7,299,659
69$7,489,454$6,782,351$6,582,140$7,880,207
70$8,206,189$7,067,498$6,755,453$8,509,862
71$8,994,546$7,365,131$6,933,086$9,198,061
72$9,861,781$7,675,814$7,115,136$9,950,582
73$10,815,893$8,000,139$7,301,704$10,773,784
74$11,865,693$8,338,725$7,492,890$11,674,670
75$13,020,890$8,692,218$7,688,798$12,660,945
76$14,292,181$9,061,298$7,889,533$13,741,097
77$15,691,354$9,446,671$8,095,202$14,924,469
78$17,231,395$9,849,081$8,305,915$16,221,347
79$18,926,615$10,269,304$8,521,781$17,643,060
80$20,792,783$10,708,153$8,742,913$19,202,084
81$22,847,273$11,166,479$8,969,427$20,912,153
82$25,109,230$11,645,171$9,201,438$22,788,399
83$27,599,750$12,145,163$9,439,065$24,847,480
84$30,342,079$12,667,431$9,682,428$27,107,748
85$33,361,831$13,212,994$9,931,649$29,589,412
86$36,687,230$13,782,923$10,186,852$32,314,733
87$40,349,378$14,378,338$10,448,162$35,308,230
88$44,382,548$15,000,409$10,715,708$38,596,908
89$48,824,502$15,650,364$10,989,619$42,210,517
90$53,716,857$16,329,487$11,270,027$46,181,825
91$59,105,468$17,039,123$11,557,064$50,546,930
92$65,040,866$17,780,681$11,850,866$55,345,596
93$71,578,734$18,555,634$12,151,570$60,621,629
94$78,780,431$19,365,526$12,459,314$66,423,285
95$86,713,572$20,211,974$12,774,238$72,803,728
96$95,452,666$21,096,670$13,096,484$79,821,525
97$105,079,818$22,021,387$13,426,197$87,541,199
98$115,685,506$22,987,982$13,763,521$96,033,839
99$127,369,431$23,998,397$14,108,603$105,377,760
100$140,241,463$25,054,668$14,461,591$115,659,249