Can I retire at age 68 with 2,930,000?

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 $2,930,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$241,957$239,801$237,699$235,646$233,642$230,627
2 years$119,781$117,550$115,388$113,292$111,258$108,225
3 years$79,060$76,820$74,664$72,587$70,587$67,629
4 years$58,704$56,471$54,336$52,295$50,343$47,485
5 years$46,494$44,274$42,167$40,167$38,270$35,519
6 years$38,356$36,153$34,077$32,122$30,282$27,641
7 years$32,546$30,361$28,318$26,409$24,627$22,098
8 years$28,190$26,025$24,016$22,154$20,431$18,012
9 years$24,804$22,660$20,685$18,870$17,206$14,897
10 years$22,097$19,973$18,034$16,267$14,660$12,460
11 years$19,884$17,781$15,877$14,157$12,608$10,515
12 years$18,040$15,959$14,090$12,417$10,926$8,936
13 years$16,482$14,423$12,589$10,963$9,528$7,640
14 years$15,147$13,110$11,311$9,731$8,352$6,563
15 years$13,991$11,976$10,212$8,679$7,354$5,660
16 years$12,981$10,988$9,259$7,771$6,499$4,898
17 years$12,091$10,119$8,425$6,982$5,763$4,251
18 years$11,300$9,351$7,691$6,292$5,124$3,698
19 years$10,593$8,666$7,041$5,686$4,567$3,224
20 years$9,958$8,053$6,462$5,149$4,079$2,816
21 years$9,384$7,501$5,944$4,673$3,651$2,463
22 years$8,863$7,002$5,478$4,249$3,272$2,158
23 years$8,388$6,549$5,058$3,870$2,937$1,892
24 years$7,953$6,136$4,678$3,530$2,640$1,661
25 years$7,554$5,758$4,332$3,223$2,376$1,459
26 years$7,186$5,412$4,018$2,947$2,140$1,283
27 years$6,846$5,093$3,731$2,698$1,929$1,129
28 years$6,530$4,799$3,469$2,472$1,741$994
29 years$6,237$4,527$3,228$2,267$1,572$875
30 years$5,964$4,276$3,007$2,080$1,420$771
31 years$5,709$4,042$2,803$1,910$1,284$680
32 years$5,471$3,824$2,615$1,756$1,162$600
33 years$5,247$3,622$2,442$1,615$1,051$529
34 years$5,037$3,433$2,282$1,486$952$467
35 years$4,840$3,256$2,133$1,368$862$412
36 years$4,654$3,090$1,995$1,259$781$364
37 years$4,478$2,935$1,868$1,160$708$321
38 years$4,312$2,789$1,749$1,070$642$284
39 years$4,155$2,652$1,639$986$582$250
40 years$4,006$2,524$1,536$910$528$221
41 years$3,865$2,402$1,440$839$479$195
42 years$3,730$2,288$1,351$775$435$173
43 years$3,603$2,180$1,268$715$394$153
44 years$3,481$2,078$1,190$660$358$135
45 years$3,366$1,981$1,117$610$325$119
46 years$3,255$1,890$1,049$563$295$105
47 years$3,150$1,804$986$520$268$93
48 years$3,049$1,722$926$481$243$82
49 years$2,953$1,644$871$444$221$73
50 years$2,861$1,571$819$411$201$64

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $2,930,000, adding $3,196 every year, while hoping to spend $57,876 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: 67/9/24 Blend
67$2,930,000$2,930,000$2,930,000$2,930,000
68$3,232,157$3,076,867$3,031,452$3,428,572
69$3,500,257$3,166,054$3,071,426$3,650,098
70$3,793,764$3,257,671$3,110,799$3,885,379
71$4,115,208$3,351,776$3,149,491$4,141,357
72$4,467,375$3,448,429$3,187,414$4,420,074
73$4,853,334$3,547,689$3,224,480$4,723,780
74$5,276,465$3,649,617$3,260,591$5,054,952
75$5,740,490$3,754,274$3,295,647$5,416,319
76$6,249,510$3,861,723$3,329,540$5,810,889
77$6,808,039$3,972,027$3,362,159$6,241,972
78$7,421,052$4,085,249$3,393,385$6,713,220
79$8,094,028$4,201,456$3,423,092$7,228,652
80$8,833,003$4,320,711$3,451,150$7,792,699
81$9,644,625$4,443,081$3,477,419$8,410,241
82$10,536,218$4,568,633$3,501,753$9,086,656
83$11,515,850$4,697,435$3,524,000$9,827,871
84$12,592,411$4,829,553$3,543,998$10,640,414
85$13,775,692$4,965,056$3,561,577$11,531,480
86$15,076,481$5,104,012$3,576,558$12,508,997
87$16,506,665$5,246,491$3,588,756$13,581,701
88$18,079,337$5,392,562$3,597,971$14,759,219
89$19,808,925$5,542,293$3,603,999$16,052,156
90$21,711,324$5,695,754$3,606,622$17,472,204
91$23,804,048$5,853,015$3,605,612$19,032,243
92$26,106,391$6,014,143$3,600,731$20,746,466
93$28,639,615$6,179,208$3,591,727$22,630,517
94$31,427,145$6,348,278$3,578,339$24,701,633
95$34,494,791$6,521,421$3,560,290$26,978,808
96$37,870,992$6,698,703$3,537,292$29,482,976
97$41,587,084$6,880,190$3,509,043$32,237,205
98$45,677,594$7,065,948$3,475,224$35,266,915
99$50,180,569$7,256,039$3,435,504$38,600,121
100$55,137,929$7,450,527$3,389,535$42,267,695