Can I retire at age 68 with 2,120,000?

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 $2,120,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$175,068$173,508$171,987$170,502$169,052$167,846
2 years$86,667$85,053$83,489$81,972$80,501$79,285
3 years$57,204$55,583$54,023$52,520$51,073$49,884
4 years$42,476$40,859$39,315$37,838$36,426$35,274
5 years$33,641$32,034$30,510$29,063$27,690$26,579
6 years$27,753$26,158$24,656$23,242$21,910$20,840
7 years$23,549$21,968$20,490$19,109$17,819$16,791
8 years$20,397$18,830$17,377$16,030$14,783$13,796
9 years$17,947$16,395$14,967$13,654$12,449$11,505
10 years$15,988$14,452$13,048$11,770$10,607$9,704
11 years$14,387$12,865$11,488$10,243$9,123$8,260
12 years$13,053$11,547$10,195$8,985$7,905$7,083
13 years$11,925$10,435$9,108$7,932$6,894$6,110
14 years$10,960$9,486$8,184$7,041$6,043$5,298
15 years$10,123$8,665$7,389$6,280$5,321$4,612
16 years$9,392$7,950$6,699$5,623$4,702$4,030
17 years$8,748$7,322$6,096$5,052$4,170$3,532
18 years$8,176$6,766$5,565$4,553$3,707$3,104
19 years$7,665$6,270$5,094$4,114$3,304$2,733
20 years$7,205$5,827$4,675$3,726$2,952$2,412
21 years$6,790$5,427$4,300$3,381$2,641$2,132
22 years$6,413$5,066$3,964$3,075$2,368$1,887
23 years$6,069$4,738$3,660$2,800$2,125$1,673
24 years$5,755$4,440$3,385$2,554$1,910$1,484
25 years$5,466$4,166$3,135$2,332$1,719$1,318
26 years$5,199$3,916$2,907$2,132$1,548$1,172
27 years$4,953$3,685$2,700$1,952$1,396$1,043
28 years$4,725$3,472$2,510$1,788$1,260$928
29 years$4,513$3,276$2,336$1,640$1,137$827
30 years$4,315$3,094$2,175$1,505$1,028$737
31 years$4,131$2,925$2,028$1,382$929$657
32 years$3,958$2,767$1,892$1,270$840$586
33 years$3,797$2,621$1,767$1,168$761$523
34 years$3,645$2,484$1,651$1,075$689$467
35 years$3,502$2,356$1,543$989$624$417
36 years$3,367$2,236$1,444$911$565$373
37 years$3,240$2,124$1,351$840$512$333
38 years$3,120$2,018$1,266$774$464$298
39 years$3,006$1,919$1,186$714$421$266
40 years$2,898$1,826$1,111$658$382$238
41 years$2,796$1,738$1,042$607$347$213
42 years$2,699$1,655$977$560$314$190
43 years$2,607$1,577$917$517$285$170
44 years$2,519$1,503$861$478$259$152
45 years$2,435$1,434$808$441$235$136
46 years$2,355$1,368$759$407$214$122
47 years$2,279$1,305$713$376$194$109
48 years$2,206$1,246$670$348$176$97
49 years$2,137$1,190$630$321$160$87
50 years$2,070$1,137$592$297$145$78

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $2,120,000, adding $6,849 every year, while hoping to spend $40,794 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: 64/22/14 Blend
67$2,120,000$2,120,000$2,120,000$2,120,000
68$2,343,305$2,230,945$2,198,085$2,485,014
69$2,538,917$2,296,857$2,228,316$2,646,636
70$2,753,115$2,364,631$2,258,193$2,817,780
71$2,987,751$2,434,316$2,287,660$3,003,723
72$3,244,865$2,505,960$2,316,660$3,205,908
73$3,526,703$2,579,615$2,345,131$3,425,922
74$3,835,742$2,655,331$2,373,008$3,665,513
75$4,174,706$2,733,160$2,400,222$3,926,605
76$4,546,597$2,813,157$2,426,700$4,211,319
77$4,954,723$2,895,374$2,452,368$4,521,986
78$5,402,725$2,979,868$2,477,142$4,861,179
79$5,894,616$3,066,694$2,500,939$5,231,727
80$6,434,815$3,155,911$2,523,669$5,636,747
81$7,028,192$3,247,576$2,545,238$6,079,674
82$7,680,109$3,341,748$2,565,545$6,564,290
83$8,396,476$3,438,490$2,584,486$7,094,761
84$9,183,801$3,537,860$2,601,951$7,675,676
85$10,049,256$3,639,923$2,617,824$8,312,091
86$11,000,743$3,744,742$2,631,983$9,009,575
87$12,046,964$3,852,380$2,644,300$9,774,264
88$13,197,510$3,962,902$2,654,641$10,612,917
89$14,462,948$4,076,376$2,662,863$11,532,981
90$15,854,918$4,192,868$2,668,818$12,542,660
91$17,386,246$4,312,445$2,672,350$13,650,994
92$19,071,065$4,435,176$2,673,295$14,867,943
93$20,924,945$4,561,132$2,671,482$16,204,478
94$22,965,043$4,690,380$2,666,730$17,672,691
95$25,210,262$4,822,994$2,658,850$19,285,903
96$27,681,431$4,959,043$2,647,644$21,058,793
97$30,401,501$5,098,600$2,632,904$23,007,533
98$33,395,759$5,241,736$2,614,412$25,149,944
99$36,692,071$5,388,526$2,591,939$27,505,663
100$40,321,140$5,539,041$2,565,247$30,096,326