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

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 $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%15.8%
1 years$801,017$793,882$786,921$780,126$773,492$755,099
2 years$396,543$389,158$382,000$375,061$368,329$349,907
3 years$261,736$254,319$247,180$240,305$233,683$215,807
4 years$194,346$186,951$179,883$173,126$166,665$149,471
5 years$153,922$146,572$139,597$132,978$126,696$110,234
6 years$126,982$119,687$112,815$106,343$100,250$84,536
7 years$107,746$100,513$93,750$87,431$81,530$66,566
8 years$93,326$86,158$79,507$73,343$67,637$53,417
9 years$82,117$75,016$68,480$62,472$56,960$43,473
10 years$73,154$66,123$59,702$53,852$48,533$35,763
11 years$65,826$58,866$52,561$46,867$41,740$29,670
12 years$59,723$52,835$46,646$41,109$36,171$24,781
13 years$54,564$47,747$41,675$36,293$31,542$20,810
14 years$50,145$43,401$37,446$32,217$27,649$17,553
15 years$46,319$39,647$33,808$28,732$24,345$14,860
16 years$42,975$36,376$30,652$25,726$21,516$12,618
17 years$40,027$33,501$27,892$23,115$19,078$10,741
18 years$37,409$30,956$25,462$20,831$16,963$9,163
19 years$35,070$28,690$23,309$18,823$15,119$7,831
20 years$32,967$26,660$21,392$17,047$13,505$6,702
21 years$31,067$24,833$19,677$15,472$12,085$5,744
22 years$29,342$23,180$18,135$14,067$10,833$4,928
23 years$27,770$21,680$16,744$12,811$9,724$4,232
24 years$26,330$20,313$15,486$11,685$8,740$3,637
25 years$25,008$19,063$14,343$10,671$7,865$3,127
26 years$23,790$17,916$13,302$9,757$7,084$2,691
27 years$22,663$16,861$12,352$8,931$6,387$2,317
28 years$21,619$15,888$11,483$8,183$5,763$1,995
29 years$20,649$14,988$10,686$7,504$5,204$1,719
30 years$19,745$14,155$9,954$6,887$4,702$1,482
31 years$18,901$13,381$9,280$6,325$4,251$1,277
32 years$18,111$12,661$8,658$5,813$3,846$1,101
33 years$17,371$11,990$8,084$5,345$3,480$950
34 years$16,676$11,364$7,553$4,918$3,151$819
35 years$16,022$10,779$7,062$4,527$2,854$707
36 years$15,406$10,231$6,606$4,170$2,586$610
37 years$14,824$9,717$6,183$3,842$2,344$526
38 years$14,275$9,234$5,790$3,541$2,125$454
39 years$13,754$8,781$5,425$3,265$1,927$392
40 years$13,261$8,354$5,085$3,011$1,748$338
41 years$12,794$7,953$4,768$2,778$1,586$292
42 years$12,350$7,574$4,472$2,564$1,439$252
43 years$11,927$7,216$4,197$2,367$1,306$218
44 years$11,525$6,879$3,939$2,186$1,185$188
45 years$11,142$6,559$3,699$2,018$1,076$162
46 years$10,776$6,257$3,474$1,864$977$140
47 years$10,428$5,971$3,264$1,723$887$121
48 years$10,094$5,701$3,067$1,592$806$104
49 years$9,776$5,444$2,883$1,471$732$90
50 years$9,471$5,200$2,710$1,360$665$78

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 $3,850 every year, while hoping to spend $49,415 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: 66/26/8 Blend
67$9,700,000$9,700,000$9,700,000$9,700,000
68$10,693,371$10,179,271$10,028,921$11,382,660
69$11,731,518$10,625,478$10,312,313$12,287,533
70$12,873,899$11,091,893$10,603,542$13,269,836
71$14,131,095$11,579,455$10,902,819$14,342,082
72$15,514,763$12,089,144$11,210,360$15,513,038
73$17,037,748$12,621,990$11,526,385$16,792,343
74$18,714,201$13,179,072$11,851,123$18,190,604
75$20,559,720$13,761,516$12,184,805$19,719,491
76$22,591,486$14,370,504$12,527,670$21,391,843
77$24,828,434$15,007,276$12,879,964$23,221,792
78$27,291,429$15,673,127$13,241,937$25,224,885
79$30,003,459$16,369,415$13,613,847$27,418,235
80$32,989,858$17,097,563$13,995,957$29,820,678
81$36,278,541$17,859,060$14,388,539$32,452,945
82$39,900,266$18,655,468$14,791,869$35,337,856
83$43,888,929$19,488,422$15,206,232$38,500,535
84$48,281,878$20,359,633$15,631,919$41,968,636
85$53,120,271$21,270,897$16,069,230$45,772,609
86$58,449,460$22,224,092$16,518,471$49,945,978
87$64,319,420$23,221,188$16,979,955$54,525,653
88$70,785,222$24,264,247$17,454,004$59,552,277
89$77,907,550$25,355,430$17,940,949$65,070,606
90$85,753,276$26,497,002$18,441,126$71,129,921
91$94,396,089$27,691,334$18,954,883$77,784,495
92$103,917,193$28,940,912$19,482,574$85,094,094
93$114,406,069$30,248,339$20,024,563$93,124,543
94$125,961,325$31,616,344$20,581,222$101,948,334
95$138,691,620$33,047,785$21,152,933$111,645,310
96$152,716,696$34,545,657$21,740,087$122,303,411
97$168,168,503$36,113,099$22,343,084$134,019,496
98$185,192,448$37,753,398$22,962,335$146,900,253
99$203,948,764$39,470,001$23,598,260$161,063,198
100$224,614,025$41,266,519$24,251,289$176,637,778