Can I retire at age 68 with 2,920,000?

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 $2,920,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$241,131$238,983$236,887$234,842$232,845$231,281
2 years$119,372$117,149$114,994$112,905$110,879$109,301
3 years$78,791$76,558$74,409$72,339$70,346$68,804
4 years$58,504$56,278$54,150$52,116$50,171$48,676
5 years$46,335$44,123$42,023$40,030$38,139$36,696
6 years$38,225$36,030$33,961$32,013$30,178$28,789
7 years$32,435$30,258$28,222$26,319$24,543$23,208
8 years$28,094$25,936$23,934$22,079$20,361$19,080
9 years$24,720$22,582$20,614$18,806$17,147$15,920
10 years$22,022$19,905$17,972$16,211$14,610$13,437
11 years$19,816$17,720$15,822$14,108$12,565$11,444
12 years$17,979$15,905$14,042$12,375$10,889$9,819
13 years$16,425$14,373$12,546$10,925$9,495$8,476
14 years$15,095$13,065$11,272$9,698$8,323$7,354
15 years$13,944$11,935$10,177$8,649$7,329$6,407
16 years$12,937$10,950$9,227$7,744$6,477$5,602
17 years$12,049$10,085$8,396$6,958$5,743$4,913
18 years$11,261$9,319$7,665$6,271$5,106$4,320
19 years$10,557$8,637$7,017$5,666$4,551$3,807
20 years$9,924$8,025$6,440$5,132$4,065$3,362
21 years$9,352$7,475$5,923$4,657$3,638$2,974
22 years$8,833$6,978$5,459$4,235$3,261$2,634
23 years$8,360$6,526$5,041$3,857$2,927$2,337
24 years$7,926$6,115$4,662$3,517$2,631$2,075
25 years$7,528$5,738$4,318$3,212$2,368$1,844
26 years$7,161$5,393$4,004$2,937$2,133$1,641
27 years$6,822$5,076$3,718$2,688$1,923$1,461
28 years$6,508$4,783$3,457$2,463$1,735$1,302
29 years$6,216$4,512$3,217$2,259$1,567$1,161
30 years$5,944$4,261$2,996$2,073$1,416$1,035
31 years$5,690$4,028$2,793$1,904$1,280$924
32 years$5,452$3,811$2,606$1,750$1,158$825
33 years$5,229$3,609$2,434$1,609$1,048$737
34 years$5,020$3,421$2,274$1,480$949$658
35 years$4,823$3,245$2,126$1,363$859$589
36 years$4,638$3,080$1,989$1,255$778$526
37 years$4,463$2,925$1,861$1,156$706$471
38 years$4,297$2,780$1,743$1,066$640$421
39 years$4,140$2,643$1,633$983$580$376
40 years$3,992$2,515$1,531$907$526$337
41 years$3,851$2,394$1,435$836$477$301
42 years$3,718$2,280$1,346$772$433$270
43 years$3,590$2,172$1,263$713$393$242
44 years$3,469$2,071$1,186$658$357$216
45 years$3,354$1,975$1,113$608$324$194
46 years$3,244$1,884$1,046$561$294$173
47 years$3,139$1,798$983$519$267$155
48 years$3,039$1,716$923$479$243$139
49 years$2,943$1,639$868$443$220$124
50 years$2,851$1,565$816$409$200$111

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $2,920,000, adding $3,375 every year, while hoping to spend $25,877 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: 61/20/19 Blend
67$2,920,000$2,920,000$2,920,000$2,920,000
68$3,221,321$3,066,561$3,021,301$3,401,806
69$3,522,363$3,189,290$3,094,982$3,646,820
70$3,853,244$3,317,165$3,170,264$3,910,924
71$4,216,980$3,450,411$3,247,173$4,198,562
72$4,616,894$3,589,264$3,325,735$4,512,023
73$5,056,648$3,733,968$3,405,978$4,853,825
74$5,540,275$3,884,781$3,487,927$5,226,738
75$6,072,219$4,041,971$3,571,608$5,633,811
76$6,657,377$4,205,819$3,657,049$6,078,400
77$7,301,143$4,376,618$3,744,273$6,564,199
78$8,009,461$4,554,675$3,833,309$7,095,272
79$8,788,882$4,740,309$3,924,180$7,676,094
80$9,646,621$4,933,857$4,016,913$8,311,592
81$10,590,629$5,135,670$4,111,533$9,007,189
82$11,629,668$5,346,112$4,208,064$9,768,856
83$12,773,391$5,565,568$4,306,531$10,603,169
84$14,032,435$5,794,439$4,406,958$11,517,366
85$15,418,521$6,033,144$4,509,368$12,519,418
86$16,944,562$6,282,120$4,613,784$13,618,105
87$18,624,790$6,541,827$4,720,229$14,823,091
88$20,474,886$6,812,744$4,828,724$16,145,025
89$22,512,129$7,095,372$4,939,290$17,595,629
90$24,755,557$7,390,237$5,051,947$19,187,817
91$27,226,152$7,697,886$5,166,715$20,935,812
92$29,947,031$8,018,894$5,283,612$22,855,278
93$32,943,670$8,353,862$5,402,655$24,963,469
94$36,244,141$8,703,417$5,523,860$27,279,392
95$39,879,376$9,068,218$5,647,243$29,823,981
96$43,883,463$9,448,951$5,772,816$32,620,296
97$48,293,963$9,846,337$5,900,592$35,693,742
98$53,152,267$10,261,127$6,030,582$39,072,302
99$58,503,987$10,694,111$6,162,794$42,786,804
100$64,399,382$11,146,111$6,297,237$46,871,208