Can I retire at age 68 with 2,420,000?

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 $2,420,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$199,841$198,061$196,325$194,629$192,974$192,080
2 years$98,931$97,089$95,303$93,572$91,892$90,990
3 years$65,299$63,449$61,667$59,952$58,300$57,418
4 years$48,486$46,641$44,878$43,192$41,580$40,724
5 years$38,401$36,567$34,827$33,176$31,609$30,781
6 years$31,680$29,860$28,146$26,531$25,011$24,213
7 years$26,881$25,076$23,389$21,813$20,341$19,573
8 years$23,283$21,495$19,836$18,298$16,874$16,138
9 years$20,487$18,715$17,085$15,586$14,211$13,504
10 years$18,251$16,497$14,895$13,435$12,108$11,431
11 years$16,423$14,686$13,113$11,693$10,413$9,766
12 years$14,900$13,181$11,638$10,256$9,024$8,406
13 years$13,613$11,912$10,397$9,055$7,869$7,279
14 years$12,510$10,828$9,342$8,038$6,898$6,336
15 years$11,556$9,891$8,435$7,168$6,074$5,538
16 years$10,722$9,075$7,647$6,418$5,368$4,859
17 years$9,986$8,358$6,959$5,767$4,760$4,276
18 years$9,333$7,723$6,352$5,197$4,232$3,773
19 years$8,749$7,158$5,815$4,696$3,772$3,337
20 years$8,225$6,651$5,337$4,253$3,369$2,958
21 years$7,751$6,195$4,909$3,860$3,015$2,626
22 years$7,320$5,783$4,524$3,510$2,703$2,335
23 years$6,928$5,409$4,177$3,196$2,426$2,079
24 years$6,569$5,068$3,863$2,915$2,181$1,853
25 years$6,239$4,756$3,578$2,662$1,962$1,653
26 years$5,935$4,470$3,319$2,434$1,767$1,477
27 years$5,654$4,207$3,082$2,228$1,594$1,320
28 years$5,394$3,964$2,865$2,041$1,438$1,181
29 years$5,152$3,739$2,666$1,872$1,298$1,057
30 years$4,926$3,531$2,483$1,718$1,173$947
31 years$4,716$3,338$2,315$1,578$1,061$848
32 years$4,519$3,159$2,160$1,450$959$761
33 years$4,334$2,991$2,017$1,334$868$682
34 years$4,160$2,835$1,884$1,227$786$612
35 years$3,997$2,689$1,762$1,129$712$549
36 years$3,844$2,552$1,648$1,040$645$493
37 years$3,698$2,424$1,543$958$585$443
38 years$3,561$2,304$1,445$883$530$398
39 years$3,432$2,191$1,353$815$481$357
40 years$3,309$2,084$1,269$751$436$321
41 years$3,192$1,984$1,190$693$396$289
42 years$3,081$1,890$1,116$640$359$259
43 years$2,976$1,800$1,047$591$326$233
44 years$2,875$1,716$983$545$296$210
45 years$2,780$1,636$923$504$268$189
46 years$2,689$1,561$867$465$244$170
47 years$2,602$1,490$814$430$221$153
48 years$2,518$1,422$765$397$201$137
49 years$2,439$1,358$719$367$183$123
50 years$2,363$1,297$676$339$166$111

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $2,420,000, adding $6,104 every year, while hoping to spend $53,287 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: 44/42/14 Blend
67$2,420,000$2,420,000$2,420,000$2,420,000
68$2,673,136$2,544,876$2,507,366$2,779,721
69$2,889,099$2,612,878$2,534,666$2,922,766
70$3,125,304$2,682,426$2,561,094$3,071,888
71$3,383,760$2,753,540$2,586,566$3,232,354
72$3,666,679$2,826,238$2,610,991$3,405,232
73$3,976,494$2,900,538$2,634,273$3,591,697
74$4,315,889$2,976,458$2,656,314$3,793,043
75$4,687,817$3,054,011$2,677,008$4,010,692
76$5,095,531$3,133,214$2,696,244$4,246,213
77$5,542,612$3,214,078$2,713,905$4,501,332
78$6,033,006$3,296,616$2,729,869$4,777,950
79$6,571,060$3,380,837$2,744,006$5,078,159
80$7,161,560$3,466,750$2,756,182$5,404,264
81$7,809,778$3,554,360$2,766,254$5,758,805
82$8,521,524$3,643,672$2,774,072$6,144,579
83$9,303,195$3,734,688$2,779,479$6,564,665
84$10,161,840$3,827,406$2,782,310$7,022,457
85$11,105,222$3,921,824$2,782,392$7,521,695
86$12,141,896$4,017,935$2,779,544$8,066,495
87$13,281,285$4,115,729$2,773,574$8,661,397
88$14,533,771$4,215,194$2,764,283$9,311,399
89$15,910,790$4,316,313$2,751,461$10,022,010
90$17,424,945$4,419,067$2,734,889$10,799,299
91$19,090,117$4,523,429$2,714,336$11,649,955
92$20,921,604$4,629,372$2,689,562$12,581,346
93$22,936,258$4,736,862$2,660,312$13,601,592
94$25,152,647$4,845,859$2,626,323$14,719,643
95$27,591,230$4,956,319$2,587,318$15,945,358
96$30,274,549$5,068,191$2,543,006$17,289,603
97$33,227,439$5,181,419$2,493,083$18,764,353
98$36,477,269$5,295,939$2,437,232$20,382,803
99$40,054,190$5,411,681$2,375,120$22,159,495
100$43,991,430$5,528,565$2,306,399$24,110,455