Can I retire at age 68 with 2,940,000?

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 $2,940,000?

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$242,782$240,620$238,510$236,451$234,440$231,414
2 years$120,189$117,951$115,782$113,678$111,638$108,594
3 years$79,330$77,082$74,918$72,835$70,828$67,860
4 years$58,905$56,664$54,521$52,473$50,515$47,647
5 years$46,653$44,425$42,311$40,305$38,401$35,640
6 years$38,487$36,276$34,193$32,232$30,385$27,735
7 years$32,657$30,465$28,415$26,500$24,711$22,173
8 years$28,287$26,114$24,098$22,230$20,500$18,074
9 years$24,889$22,737$20,756$18,935$17,264$14,948
10 years$22,172$20,041$18,095$16,322$14,710$12,503
11 years$19,951$17,842$15,931$14,205$12,651$10,550
12 years$18,102$16,014$14,138$12,460$10,963$8,967
13 years$16,538$14,472$12,632$11,000$9,560$7,666
14 years$15,199$13,154$11,349$9,765$8,380$6,585
15 years$14,039$12,017$10,247$8,708$7,379$5,679
16 years$13,025$11,025$9,290$7,797$6,521$4,915
17 years$12,132$10,154$8,454$7,006$5,782$4,266
18 years$11,338$9,383$7,717$6,314$5,141$3,711
19 years$10,629$8,696$7,065$5,705$4,583$3,235
20 years$9,992$8,080$6,484$5,167$4,093$2,826
21 years$9,416$7,527$5,964$4,689$3,663$2,472
22 years$8,893$7,026$5,497$4,264$3,283$2,165
23 years$8,417$6,571$5,075$3,883$2,947$1,898
24 years$7,981$6,157$4,694$3,542$2,649$1,666
25 years$7,580$5,778$4,347$3,234$2,384$1,464
26 years$7,210$5,430$4,032$2,957$2,147$1,287
27 years$6,869$5,110$3,744$2,707$1,936$1,133
28 years$6,553$4,816$3,480$2,480$1,747$997
29 years$6,259$4,543$3,239$2,274$1,577$878
30 years$5,985$4,290$3,017$2,087$1,425$774
31 years$5,729$4,056$2,813$1,917$1,289$682
32 years$5,489$3,838$2,624$1,762$1,166$602
33 years$5,265$3,634$2,450$1,620$1,055$531
34 years$5,054$3,444$2,289$1,491$955$468
35 years$4,856$3,267$2,140$1,372$865$413
36 years$4,669$3,101$2,002$1,264$784$365
37 years$4,493$2,945$1,874$1,164$710$322
38 years$4,327$2,799$1,755$1,073$644$285
39 years$4,169$2,661$1,644$990$584$251
40 years$4,019$2,532$1,541$913$530$222
41 years$3,878$2,410$1,445$842$481$196
42 years$3,743$2,296$1,356$777$436$173
43 years$3,615$2,187$1,272$717$396$153
44 years$3,493$2,085$1,194$662$359$135
45 years$3,377$1,988$1,121$612$326$120
46 years$3,266$1,897$1,053$565$296$106
47 years$3,161$1,810$989$522$269$93
48 years$3,060$1,728$930$482$244$83
49 years$2,963$1,650$874$446$222$73
50 years$2,870$1,576$821$412$201$64

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $2,940,000, adding $3,864 every year, while hoping to spend $20,901 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: 43/38/19 Blend
67$2,940,000$2,940,000$2,940,000$2,940,000
68$3,243,866$3,088,046$3,042,476$3,365,256
69$3,552,502$3,217,121$3,122,160$3,580,411
70$3,891,918$3,351,821$3,203,814$3,811,023
71$4,265,232$3,492,399$3,287,480$4,060,438
72$4,675,878$3,639,120$3,373,203$4,330,397
73$5,127,642$3,792,261$3,461,030$4,622,814
74$5,624,693$3,952,113$3,551,006$4,939,789
75$6,171,625$4,118,979$3,643,177$5,283,630
76$6,773,500$4,293,179$3,737,593$5,656,872
77$7,435,896$4,475,044$3,834,302$6,062,300
78$8,164,959$4,664,922$3,933,352$6,502,975
79$8,967,460$4,863,178$4,034,795$6,982,261
80$9,850,860$5,070,194$4,138,680$7,503,855
81$10,823,383$5,286,368$4,245,061$8,071,823
82$11,894,086$5,512,119$4,353,988$8,690,635
83$13,072,953$5,747,882$4,465,517$9,365,205
84$14,370,983$5,994,117$4,579,700$10,100,940
85$15,800,296$6,251,302$4,696,593$10,903,784
86$17,374,249$6,519,938$4,816,252$11,780,276
87$19,107,558$6,800,551$4,938,732$12,737,613
88$21,016,440$7,093,689$5,064,091$13,783,707
89$23,118,765$7,399,929$5,192,386$14,927,268
90$25,434,225$7,719,871$5,323,677$16,177,878
91$27,984,519$8,054,147$5,458,023$17,546,082
92$30,793,556$8,403,417$5,595,483$19,043,486
93$33,887,686$8,768,371$5,736,119$20,682,863
94$37,295,942$9,149,734$5,879,991$22,478,271
95$41,050,320$9,548,262$6,027,162$24,445,186
96$45,186,075$9,964,749$6,177,694$26,600,642
97$49,742,058$10,400,026$6,331,651$28,963,393
98$54,761,082$10,854,962$6,489,096$31,554,086
99$60,290,325$11,330,467$6,650,093$34,395,452
100$66,381,775$11,827,497$6,814,707$37,512,519