Can I retire at age 68 with 3,000,000?

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 $3,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$247,737$245,530$243,378$241,276$239,224$234,778
2 years$122,642$120,358$118,144$115,998$113,916$109,454
3 years$80,949$78,655$76,447$74,321$72,273$67,933
4 years$60,107$57,820$55,634$53,544$51,546$47,362
5 years$47,605$45,332$43,174$41,127$39,184$35,168
6 years$39,273$37,017$34,891$32,890$31,005$27,161
7 years$33,324$31,087$28,995$27,040$25,216$21,545
8 years$28,864$26,647$24,590$22,684$20,919$17,420
9 years$25,397$23,201$21,179$19,321$17,617$14,288
10 years$22,625$20,450$18,465$16,655$15,010$11,849
11 years$20,359$18,206$16,256$14,495$12,909$9,912
12 years$18,471$16,341$14,427$12,714$11,187$8,349
13 years$16,875$14,767$12,889$11,225$9,755$7,072
14 years$15,509$13,423$11,581$9,964$8,551$6,018
15 years$14,326$12,262$10,456$8,886$7,529$5,141
16 years$13,291$11,250$9,480$7,957$6,654$4,405
17 years$12,379$10,361$8,626$7,149$5,900$3,786
18 years$11,570$9,574$7,875$6,443$5,246$3,260
19 years$10,846$8,873$7,209$5,821$4,676$2,813
20 years$10,196$8,245$6,616$5,272$4,177$2,432
21 years$9,608$7,680$6,086$4,785$3,738$2,105
22 years$9,075$7,169$5,609$4,351$3,350$1,824
23 years$8,589$6,705$5,179$3,962$3,007$1,582
24 years$8,143$6,282$4,789$3,614$2,703$1,374
25 years$7,734$5,896$4,436$3,300$2,432$1,194
26 years$7,358$5,541$4,114$3,018$2,191$1,038
27 years$7,009$5,215$3,820$2,762$1,975$903
28 years$6,686$4,914$3,551$2,531$1,782$786
29 years$6,386$4,636$3,305$2,321$1,610$684
30 years$6,107$4,378$3,078$2,130$1,454$596
31 years$5,846$4,139$2,870$1,956$1,315$520
32 years$5,601$3,916$2,678$1,798$1,189$453
33 years$5,373$3,708$2,500$1,653$1,076$395
34 years$5,158$3,515$2,336$1,521$975$344
35 years$4,955$3,334$2,184$1,400$883$300
36 years$4,765$3,164$2,043$1,290$800$262
37 years$4,585$3,005$1,912$1,188$725$229
38 years$4,415$2,856$1,791$1,095$657$200
39 years$4,254$2,716$1,678$1,010$596$174
40 years$4,101$2,584$1,573$931$541$152
41 years$3,957$2,460$1,475$859$490$133
42 years$3,819$2,342$1,383$793$445$116
43 years$3,689$2,232$1,298$732$404$101
44 years$3,564$2,127$1,218$676$367$88
45 years$3,446$2,029$1,144$624$333$77
46 years$3,333$1,935$1,074$577$302$67
47 years$3,225$1,847$1,009$533$274$59
48 years$3,122$1,763$949$492$249$51
49 years$3,023$1,684$892$455$226$45
50 years$2,929$1,608$838$421$206$39

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 68 starting with $3,000,000, adding $5,340 every year, while hoping to spend $49,567 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: 54/37/9 Blend
67$3,000,000$3,000,000$3,000,000$3,000,000
68$3,311,508$3,152,508$3,106,008$3,482,681
69$3,596,543$3,254,242$3,157,321$3,700,998
70$3,908,990$3,359,300$3,208,691$3,932,610
71$4,251,594$3,467,792$3,260,068$4,183,505
72$4,627,375$3,579,832$3,311,399$4,455,520
73$5,039,662$3,695,539$3,362,626$4,750,678
74$5,492,123$3,815,035$3,413,689$5,071,201
75$5,988,794$3,938,447$3,464,522$5,419,536
76$6,534,125$4,065,905$3,515,057$5,798,374
77$7,133,015$4,197,543$3,565,221$6,210,678
78$7,790,863$4,333,504$3,614,937$6,659,707
79$8,513,615$4,473,930$3,664,121$7,149,048
80$9,307,823$4,618,971$3,712,689$7,682,651
81$10,180,703$4,768,783$3,760,546$8,264,860
82$11,140,207$4,923,525$3,807,596$8,900,462
83$12,195,094$5,083,364$3,853,736$9,594,724
84$13,355,015$5,248,470$3,898,858$10,353,444
85$14,630,602$5,419,021$3,942,845$11,183,010
86$16,033,571$5,595,200$3,985,578$12,090,452
87$17,576,827$5,777,198$4,026,927$13,083,512
88$19,274,593$5,965,210$4,066,759$14,170,718
89$21,142,536$6,159,440$4,104,930$15,361,459
90$23,197,920$6,360,098$4,141,291$16,666,076
91$25,459,768$6,567,402$4,175,683$18,095,959
92$27,949,036$6,781,577$4,207,941$19,663,651
93$30,688,820$7,002,856$4,237,889$21,382,971
94$33,704,565$7,231,481$4,265,343$23,269,137
95$37,024,308$7,467,702$4,290,110$25,338,913
96$40,678,945$7,711,776$4,311,986$27,610,765
97$44,702,516$7,963,972$4,330,757$30,105,035
98$49,132,533$8,224,567$4,346,197$32,844,132
99$54,010,328$8,493,847$4,358,071$35,852,742
100$59,381,445$8,772,110$4,366,131$39,158,059