Can I retire at age 68 with 8,400,000?

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 $8,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$693,664$687,485$681,457$675,573$669,828$654,166
2 years$343,398$337,003$330,804$324,795$318,966$303,276
3 years$226,658$220,235$214,052$208,099$202,365$187,137
4 years$168,299$161,896$155,775$149,924$144,328$129,680
5 years$133,293$126,928$120,888$115,156$109,716$95,688
6 years$109,964$103,647$97,695$92,091$86,815$73,421
7 years$93,306$87,042$81,185$75,713$70,604$57,847
8 years$80,819$74,611$68,852$63,514$58,572$46,447
9 years$71,111$64,963$59,302$54,100$49,326$37,823
10 years$63,350$57,261$51,701$46,634$42,029$31,135
11 years$57,004$50,976$45,517$40,586$36,146$25,847
12 years$51,719$45,754$40,395$35,599$31,323$21,602
13 years$47,251$41,348$36,090$31,429$27,315$18,153
14 years$43,425$37,584$32,427$27,899$23,944$15,322
15 years$40,111$34,334$29,277$24,881$21,082$12,980
16 years$37,215$31,501$26,544$22,278$18,632$11,029
17 years$34,662$29,011$24,154$20,017$16,521$9,396
18 years$32,396$26,807$22,050$18,039$14,689$8,021
19 years$30,370$24,845$20,185$16,300$13,093$6,860
20 years$28,549$23,087$18,525$14,763$11,695$5,876
21 years$26,904$21,505$17,040$13,398$10,466$5,040
22 years$25,410$20,074$15,705$12,182$9,381$4,327
23 years$24,048$18,775$14,500$11,094$8,421$3,718
24 years$22,802$17,591$13,410$10,119$7,569$3,198
25 years$21,656$16,508$12,421$9,241$6,811$2,753
26 years$20,601$15,515$11,520$8,449$6,135$2,370
27 years$19,626$14,601$10,697$7,734$5,531$2,042
28 years$18,722$13,759$9,944$7,086$4,991$1,760
29 years$17,882$12,980$9,254$6,498$4,507$1,518
30 years$17,099$12,258$8,620$5,964$4,072$1,309
31 years$16,368$11,588$8,036$5,477$3,682$1,130
32 years$15,684$10,964$7,498$5,034$3,330$975
33 years$15,043$10,383$7,001$4,629$3,014$842
34 years$14,441$9,841$6,541$4,259$2,729$727
35 years$13,875$9,334$6,115$3,921$2,471$627
36 years$13,341$8,860$5,721$3,611$2,239$542
37 years$12,837$8,415$5,354$3,327$2,030$468
38 years$12,361$7,997$5,014$3,066$1,840$404
39 years$11,911$7,604$4,698$2,827$1,669$349
40 years$11,484$7,235$4,403$2,608$1,513$302
41 years$11,079$6,887$4,129$2,406$1,373$261
42 years$10,694$6,559$3,873$2,221$1,246$225
43 years$10,329$6,249$3,634$2,050$1,131$195
44 years$9,980$5,957$3,411$1,893$1,026$168
45 years$9,649$5,680$3,203$1,748$932$145
46 years$9,332$5,419$3,009$1,615$846$126
47 years$9,030$5,171$2,826$1,492$768$108
48 years$8,741$4,937$2,656$1,378$698$94
49 years$8,465$4,714$2,497$1,274$634$81
50 years$8,201$4,503$2,347$1,177$575$70

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $8,400,000, adding $4,670 every year, while hoping to spend $34,865 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: 49/33/18 Blend
67$8,400,000$8,400,000$8,400,000$8,400,000
68$9,261,617$8,816,417$8,686,217$9,668,616
69$10,169,206$9,211,325$8,940,109$10,345,658
70$11,168,200$9,624,416$9,201,338$11,076,776
71$12,267,887$10,056,542$9,470,113$11,870,261
72$13,478,498$10,508,600$9,746,649$12,731,989
73$14,811,309$10,981,525$10,031,166$13,668,414
74$16,278,744$11,476,301$10,323,891$14,686,628
75$17,894,493$11,993,957$10,625,058$15,794,421
76$19,673,640$12,535,570$10,934,907$17,000,358
77$21,632,809$13,102,271$11,253,684$18,313,852
78$23,790,316$13,695,242$11,581,643$19,745,249
79$26,166,343$14,315,724$11,919,043$21,305,927
80$28,783,132$14,965,016$12,266,152$23,008,394
81$31,665,189$15,644,480$12,623,247$24,866,406
82$34,839,521$16,355,542$12,990,608$26,895,093
83$38,335,887$17,099,698$13,368,527$29,111,095
84$42,187,077$17,878,513$13,757,303$31,532,717
85$46,429,228$18,693,629$14,157,242$34,180,098
86$51,102,160$19,546,767$14,568,660$37,075,393
87$56,249,750$20,439,729$14,991,880$40,242,980
88$61,920,353$21,374,404$15,427,236$43,709,685
89$68,167,250$22,352,771$15,875,070$47,505,029
90$75,049,159$23,376,906$16,335,734$51,661,500
91$82,630,780$24,448,982$16,809,589$56,214,858
92$90,983,416$25,571,278$17,297,005$61,204,460
93$100,185,635$26,746,181$17,798,366$66,673,631
94$110,324,021$27,976,196$18,314,063$72,670,064
95$121,493,985$29,263,943$18,844,498$79,246,260
96$133,800,668$30,612,173$19,390,085$86,460,024
97$147,359,934$32,023,767$19,951,250$94,374,996
98$162,299,459$33,501,743$20,528,429$103,061,246
99$178,759,944$35,049,269$21,122,072$112,595,928
100$196,896,436$36,669,660$21,732,638$123,063,999