Can I retire at age 68 with 2,020,000?

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 $2,020,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$166,810$165,324$163,874$162,459$161,078$158,540
2 years$82,579$81,041$79,551$78,105$76,704$74,153
3 years$54,506$52,961$51,474$50,043$48,664$46,180
4 years$40,472$38,932$37,460$36,053$34,708$32,310
5 years$32,054$30,523$29,071$27,692$26,384$24,080
6 years$26,444$24,925$23,493$22,146$20,877$18,668
7 years$22,438$20,932$19,523$18,207$16,978$14,866
8 years$19,435$17,942$16,557$15,274$14,085$12,069
9 years$17,101$15,622$14,261$13,010$11,862$9,940
10 years$15,234$13,770$12,433$11,214$10,107$8,279
11 years$13,708$12,259$10,946$9,760$8,692$6,956
12 years$12,437$11,003$9,714$8,561$7,533$5,885
13 years$11,363$9,943$8,679$7,558$6,569$5,008
14 years$10,443$9,038$7,798$6,709$5,758$4,282
15 years$9,646$8,256$7,040$5,983$5,070$3,676
16 years$8,949$7,575$6,383$5,357$4,481$3,165
17 years$8,335$6,976$5,808$4,814$3,973$2,734
18 years$7,790$6,447$5,302$4,338$3,532$2,366
19 years$7,303$5,975$4,854$3,920$3,149$2,052
20 years$6,865$5,552$4,455$3,550$2,812$1,783
21 years$6,470$5,171$4,098$3,222$2,517$1,552
22 years$6,110$4,827$3,777$2,929$2,256$1,352
23 years$5,783$4,515$3,487$2,668$2,025$1,179
24 years$5,483$4,230$3,225$2,433$1,820$1,029
25 years$5,208$3,970$2,987$2,222$1,638$899
26 years$4,954$3,731$2,770$2,032$1,475$786
27 years$4,720$3,511$2,572$1,860$1,330$688
28 years$4,502$3,309$2,391$1,704$1,200$602
29 years$4,300$3,121$2,225$1,563$1,084$528
30 years$4,112$2,948$2,073$1,434$979$462
31 years$3,936$2,787$1,932$1,317$885$405
32 years$3,772$2,637$1,803$1,210$801$355
33 years$3,618$2,497$1,683$1,113$725$312
34 years$3,473$2,367$1,573$1,024$656$273
35 years$3,337$2,245$1,471$943$594$240
36 years$3,208$2,131$1,376$868$538$210
37 years$3,087$2,023$1,288$800$488$185
38 years$2,973$1,923$1,206$737$442$162
39 years$2,864$1,829$1,130$680$401$142
40 years$2,762$1,740$1,059$627$364$125
41 years$2,664$1,656$993$579$330$110
42 years$2,572$1,577$931$534$300$96
43 years$2,484$1,503$874$493$272$85
44 years$2,400$1,432$820$455$247$74
45 years$2,320$1,366$770$420$224$65
46 years$2,244$1,303$723$388$203$57
47 years$2,172$1,244$680$359$185$50
48 years$2,102$1,187$639$331$168$44
49 years$2,036$1,134$600$306$152$39
50 years$1,972$1,083$564$283$138$34

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $2,020,000, adding $6,071 every year, while hoping to spend $26,917 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: 51/19/30 Blend
67$2,020,000$2,020,000$2,020,000$2,020,000
68$2,232,302$2,125,242$2,093,932$2,326,957
69$2,431,358$2,200,740$2,135,439$2,469,238
70$2,649,814$2,279,034$2,177,435$2,620,705
71$2,889,623$2,360,235$2,219,907$2,784,902
72$3,152,933$2,444,454$2,262,842$2,963,053
73$3,442,110$2,531,810$2,306,225$3,156,509
74$3,759,762$2,622,426$2,350,040$3,366,754
75$4,108,760$2,716,427$2,394,269$3,595,422
76$4,492,270$2,813,949$2,438,894$3,844,313
77$4,913,777$2,915,128$2,483,892$4,115,406
78$5,377,122$3,020,108$2,529,242$4,410,882
79$5,886,535$3,129,040$2,574,918$4,733,141
80$6,446,678$3,242,080$2,620,895$5,084,825
81$7,062,687$3,359,390$2,667,142$5,468,845
82$7,740,220$3,481,138$2,713,630$5,888,405
83$8,485,511$3,607,503$2,760,325$6,347,033
84$9,305,429$3,738,666$2,807,192$6,848,616
85$10,207,542$3,874,820$2,854,193$7,397,433
86$11,200,189$4,016,164$2,901,286$7,998,199
87$12,292,558$4,162,905$2,948,428$8,656,105
88$13,494,771$4,315,260$2,995,573$9,376,868
89$14,817,984$4,473,454$3,042,671$10,166,789
90$16,274,487$4,637,722$3,089,669$11,032,805
91$17,877,823$4,808,309$3,136,511$11,982,558
92$19,642,915$4,985,470$3,183,138$13,024,469
93$21,586,205$5,169,471$3,229,486$14,167,811
94$23,725,811$5,360,588$3,275,487$15,422,803
95$26,081,698$5,559,112$3,321,071$16,800,699
96$28,675,866$5,765,342$3,366,161$18,313,901
97$31,532,554$5,979,594$3,410,677$19,976,071
98$34,678,474$6,202,194$3,454,534$21,802,259
99$38,143,061$6,433,484$3,497,644$23,809,049
100$41,958,748$6,673,819$3,539,910$26,014,710