Can I retire at age 68 with 2,900,000?

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 $2,900,000?

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 years$239,479$237,346$235,265$233,234$231,250$230,276
2 years$118,554$116,346$114,206$112,132$110,119$109,135
3 years$78,251$76,033$73,899$71,844$69,864$68,901
4 years$58,103$55,893$53,780$51,759$49,828$48,894
5 years$46,018$43,821$41,735$39,756$37,878$36,975
6 years$37,964$35,783$33,728$31,793$29,972$29,101
7 years$32,213$30,050$28,028$26,139$24,375$23,538
8 years$27,902$25,759$23,770$21,927$20,221$19,417
9 years$24,550$22,428$20,473$18,677$17,029$16,258
10 years$21,871$19,769$17,849$16,100$14,510$13,771
11 years$19,680$17,599$15,714$14,012$12,479$11,772
12 years$17,855$15,796$13,946$12,290$10,814$10,138
13 years$16,313$14,275$12,460$10,850$9,430$8,785
14 years$14,992$12,975$11,195$9,632$8,266$7,652
15 years$13,848$11,853$10,108$8,590$7,278$6,693
16 years$12,848$10,875$9,164$7,691$6,433$5,876
17 years$11,967$10,016$8,339$6,911$5,704$5,175
18 years$11,184$9,255$7,612$6,228$5,071$4,569
19 years$10,485$8,577$6,969$5,627$4,520$4,044
20 years$9,856$7,970$6,396$5,097$4,038$3,587
21 years$9,288$7,424$5,883$4,626$3,613$3,187
22 years$8,772$6,930$5,422$4,206$3,239$2,835
23 years$8,302$6,482$5,006$3,830$2,907$2,526
24 years$7,872$6,073$4,630$3,493$2,613$2,254
25 years$7,477$5,699$4,288$3,190$2,351$2,013
26 years$7,112$5,356$3,977$2,917$2,118$1,799
27 years$6,776$5,041$3,693$2,670$1,910$1,609
28 years$6,463$4,750$3,433$2,446$1,723$1,441
29 years$6,173$4,481$3,195$2,243$1,556$1,291
30 years$5,903$4,232$2,976$2,059$1,406$1,157
31 years$5,651$4,001$2,774$1,891$1,271$1,038
32 years$5,415$3,785$2,588$1,738$1,150$931
33 years$5,193$3,585$2,417$1,598$1,040$836
34 years$4,986$3,398$2,258$1,470$942$750
35 years$4,790$3,223$2,111$1,354$853$674
36 years$4,606$3,059$1,975$1,247$773$606
37 years$4,432$2,905$1,849$1,149$701$544
38 years$4,268$2,761$1,731$1,059$635$489
39 years$4,112$2,625$1,622$976$576$440
40 years$3,965$2,498$1,520$900$522$396
41 years$3,825$2,378$1,425$831$474$356
42 years$3,692$2,264$1,337$767$430$320
43 years$3,566$2,157$1,255$708$390$288
44 years$3,446$2,056$1,178$653$354$259
45 years$3,331$1,961$1,106$603$322$233
46 years$3,222$1,871$1,039$557$292$210
47 years$3,118$1,785$976$515$265$189
48 years$3,018$1,704$917$476$241$170
49 years$2,923$1,628$862$440$219$153
50 years$2,831$1,555$810$406$199$138

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $2,900,000, adding $6,938 every year, while hoping to spend $37,472 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: 42/29/29 Blend
67$2,900,000$2,900,000$2,900,000$2,900,000
68$3,202,957$3,049,257$3,004,307$3,310,029
69$3,489,788$3,158,800$3,065,081$3,497,465
70$3,804,621$3,272,456$3,126,635$3,696,290
71$4,150,271$3,390,385$3,188,956$3,910,911
72$4,529,841$3,512,756$3,252,029$4,142,810
73$4,946,749$3,639,745$3,315,836$4,393,619
74$5,404,759$3,771,535$3,380,359$4,665,130
75$5,908,021$3,908,316$3,445,576$4,959,314
76$6,461,102$4,050,286$3,511,466$5,278,340
77$7,069,037$4,197,653$3,578,003$5,624,593
78$7,737,371$4,350,631$3,645,159$6,000,698
79$8,472,216$4,509,444$3,712,904$6,409,541
80$9,280,302$4,674,327$3,781,207$6,854,301
81$10,169,046$4,845,523$3,850,031$7,338,472
82$11,146,621$5,023,285$3,919,338$7,865,904
83$12,222,028$5,207,878$3,989,088$8,440,831
84$13,405,188$5,399,577$4,059,236$9,067,915
85$14,707,030$5,598,670$4,129,733$9,752,289
86$16,139,598$5,805,455$4,200,530$10,499,601
87$17,716,160$6,020,245$4,271,570$11,316,072
88$19,451,336$6,243,365$4,342,796$12,208,550
89$21,361,236$6,475,154$4,414,143$13,184,576
90$23,463,610$6,715,965$4,485,546$14,252,452
91$25,778,018$6,966,167$4,556,931$15,421,323
92$28,326,011$7,226,144$4,628,223$16,701,257
93$31,131,336$7,496,297$4,699,341$18,103,343
94$34,220,161$7,777,044$4,770,197$19,639,793
95$37,621,319$8,068,820$4,840,700$21,324,059
96$41,366,582$8,372,081$4,910,752$23,170,955
97$45,490,960$8,687,299$4,980,249$25,196,798
98$50,033,032$9,014,971$5,049,081$27,419,561
99$55,035,307$9,355,611$5,117,132$29,859,043
100$60,544,631$9,709,758$5,184,278$32,537,051