Can I retire at age 68 with 9,700,000?

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 $9,700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.3%
1 years$801,017$793,882$786,921$780,126$773,492$756,638
2 years$396,543$389,158$382,000$375,061$368,329$351,434
3 years$261,736$254,319$247,180$240,305$233,683$217,274
4 years$194,346$186,951$179,883$173,126$166,665$150,868
5 years$153,922$146,572$139,597$132,978$126,696$111,557
6 years$126,982$119,687$112,815$106,343$100,250$85,784
7 years$107,746$100,513$93,750$87,431$81,530$67,740
8 years$93,326$86,158$79,507$73,343$67,637$54,518
9 years$82,117$75,016$68,480$62,472$56,960$44,502
10 years$73,154$66,123$59,702$53,852$48,533$36,724
11 years$65,826$58,866$52,561$46,867$41,740$30,564
12 years$59,723$52,835$46,646$41,109$36,171$25,611
13 years$54,564$47,747$41,675$36,293$31,542$21,579
14 years$50,145$43,401$37,446$32,217$27,649$18,264
15 years$46,319$39,647$33,808$28,732$24,345$15,515
16 years$42,975$36,376$30,652$25,726$21,516$13,221
17 years$40,027$33,501$27,892$23,115$19,078$11,296
18 years$37,409$30,956$25,462$20,831$16,963$9,672
19 years$35,070$28,690$23,309$18,823$15,119$8,296
20 years$32,967$26,660$21,392$17,047$13,505$7,128
21 years$31,067$24,833$19,677$15,472$12,085$6,132
22 years$29,342$23,180$18,135$14,067$10,833$5,281
23 years$27,770$21,680$16,744$12,811$9,724$4,553
24 years$26,330$20,313$15,486$11,685$8,740$3,928
25 years$25,008$19,063$14,343$10,671$7,865$3,391
26 years$23,790$17,916$13,302$9,757$7,084$2,930
27 years$22,663$16,861$12,352$8,931$6,387$2,533
28 years$21,619$15,888$11,483$8,183$5,763$2,190
29 years$20,649$14,988$10,686$7,504$5,204$1,895
30 years$19,745$14,155$9,954$6,887$4,702$1,640
31 years$18,901$13,381$9,280$6,325$4,251$1,420
32 years$18,111$12,661$8,658$5,813$3,846$1,229
33 years$17,371$11,990$8,084$5,345$3,480$1,065
34 years$16,676$11,364$7,553$4,918$3,151$922
35 years$16,022$10,779$7,062$4,527$2,854$799
36 years$15,406$10,231$6,606$4,170$2,586$692
37 years$14,824$9,717$6,183$3,842$2,344$600
38 years$14,275$9,234$5,790$3,541$2,125$520
39 years$13,754$8,781$5,425$3,265$1,927$451
40 years$13,261$8,354$5,085$3,011$1,748$391
41 years$12,794$7,953$4,768$2,778$1,586$339
42 years$12,350$7,574$4,472$2,564$1,439$294
43 years$11,927$7,216$4,197$2,367$1,306$255
44 years$11,525$6,879$3,939$2,186$1,185$221
45 years$11,142$6,559$3,699$2,018$1,076$191
46 years$10,776$6,257$3,474$1,864$977$166
47 years$10,428$5,971$3,264$1,723$887$144
48 years$10,094$5,701$3,067$1,592$806$125
49 years$9,776$5,444$2,883$1,471$732$108
50 years$9,471$5,200$2,710$1,360$665$94

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $9,700,000, adding $2,123 every year, while hoping to spend $37,745 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: 50/22/28 Blend
67$9,700,000$9,700,000$9,700,000$9,700,000
68$10,691,590$10,177,490$10,027,140$11,141,325
69$11,741,972$10,636,026$10,322,889$11,914,504
70$12,898,227$11,115,766$10,627,280$12,750,490
71$14,171,116$11,617,709$10,940,564$13,658,441
72$15,572,494$12,142,900$11,262,996$14,645,205
73$17,115,423$12,692,437$11,594,842$15,718,309
74$18,814,300$13,267,470$11,936,372$16,886,030
75$20,684,984$13,869,202$12,287,866$18,157,466
76$22,744,954$14,498,895$12,649,612$19,542,620
77$25,013,470$15,157,871$13,021,904$21,052,497
78$27,511,753$15,847,515$13,405,047$22,699,196
79$30,263,188$16,569,280$13,799,353$24,496,029
80$33,293,545$17,324,687$14,205,143$26,457,638
81$36,631,219$18,115,328$14,622,747$28,600,134
82$40,307,500$18,942,876$15,052,506$30,941,241
83$44,356,869$19,809,081$15,494,768$33,500,462
84$48,817,320$20,715,776$15,949,894$36,299,261
85$53,730,723$21,664,886$16,418,251$39,361,258
86$59,143,215$22,658,423$16,900,221$42,712,450
87$65,105,638$23,698,501$17,396,193$46,381,451
88$71,674,017$24,787,332$17,906,570$50,399,759
89$78,910,090$25,927,235$18,431,764$54,802,045
90$86,881,891$27,120,641$18,972,200$59,626,480
91$95,664,389$28,370,097$19,528,313$64,915,087
92$105,340,199$29,678,274$20,100,554$70,714,132
93$116,000,360$31,047,970$20,689,383$77,074,558
94$127,745,194$32,482,118$21,295,275$84,052,457
95$140,685,254$33,983,793$21,918,717$91,709,594
96$154,942,368$35,556,216$22,560,212$100,113,984
97$170,650,784$37,202,765$23,220,273$109,340,529
98$187,958,443$38,926,980$23,899,432$119,471,714
99$207,028,375$40,732,573$24,598,234$130,598,381
100$228,040,232$42,623,431$25,317,237$142,820,580