Can I retire at age 69 with 1,020,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $1,020,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$84,231$83,480$82,748$82,034$81,336$80,187
2 years$41,698$40,922$40,169$39,439$38,732$37,576
3 years$27,523$26,743$25,992$25,269$24,573$23,447
4 years$20,436$19,659$18,916$18,205$17,526$16,438
5 years$16,186$15,413$14,679$13,983$13,323$12,276
6 years$13,353$12,586$11,863$11,182$10,542$9,538
7 years$11,330$10,569$9,858$9,194$8,573$7,612
8 years$9,814$9,060$8,361$7,712$7,112$6,194
9 years$8,635$7,888$7,201$6,569$5,990$5,114
10 years$7,692$6,953$6,278$5,663$5,103$4,270
11 years$6,922$6,190$5,527$4,928$4,389$3,596
12 years$6,280$5,556$4,905$4,323$3,804$3,051
13 years$5,738$5,021$4,382$3,816$3,317$2,603
14 years$5,273$4,564$3,938$3,388$2,907$2,231
15 years$4,871$4,169$3,555$3,021$2,560$1,921
16 years$4,519$3,825$3,223$2,705$2,262$1,659
17 years$4,209$3,523$2,933$2,431$2,006$1,436
18 years$3,934$3,255$2,677$2,190$1,784$1,247
19 years$3,688$3,017$2,451$1,979$1,590$1,085
20 years$3,467$2,803$2,249$1,793$1,420$945
21 years$3,267$2,611$2,069$1,627$1,271$825
22 years$3,085$2,438$1,907$1,479$1,139$721
23 years$2,920$2,280$1,761$1,347$1,023$631
24 years$2,769$2,136$1,628$1,229$919$552
25 years$2,630$2,005$1,508$1,122$827$484
26 years$2,502$1,884$1,399$1,026$745$425
27 years$2,383$1,773$1,299$939$672$373
28 years$2,273$1,671$1,208$860$606$327
29 years$2,171$1,576$1,124$789$547$288
30 years$2,076$1,488$1,047$724$494$253
31 years$1,988$1,407$976$665$447$222
32 years$1,905$1,331$910$611$404$196
33 years$1,827$1,261$850$562$366$172
34 years$1,754$1,195$794$517$331$152
35 years$1,685$1,133$743$476$300$133
36 years$1,620$1,076$695$438$272$117
37 years$1,559$1,022$650$404$246$103
38 years$1,501$971$609$372$223$91
39 years$1,446$923$570$343$203$80
40 years$1,395$879$535$317$184$71
41 years$1,345$836$501$292$167$62
42 years$1,299$796$470$270$151$55
43 years$1,254$759$441$249$137$48
44 years$1,212$723$414$230$125$43
45 years$1,172$690$389$212$113$38
46 years$1,133$658$365$196$103$33
47 years$1,097$628$343$181$93$29
48 years$1,061$599$323$167$85$26
49 years$1,028$572$303$155$77$23
50 years$996$547$285$143$70$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 69 starting with $1,020,000, adding $2,590 every year, while hoping to spend $50,476 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: 28/48/24 Blend
68$1,020,000$1,020,000$1,020,000$1,020,000
69$1,126,712$1,072,652$1,056,842$1,149,738
70$1,187,930$1,071,505$1,038,540$1,166,900
71$1,253,701$1,068,611$1,017,933$1,180,728
72$1,324,436$1,063,831$994,891$1,194,536
73$1,400,585$1,057,015$969,277$1,208,356
74$1,482,646$1,048,010$940,948$1,222,227
75$1,571,161$1,036,647$909,755$1,236,196
76$1,666,729$1,022,753$875,542$1,250,321
77$1,770,007$1,006,140$838,144$1,264,670
78$1,881,718$986,611$797,392$1,279,324
79$2,002,655$963,956$753,107$1,294,380
80$2,133,692$937,956$705,101$1,309,948
81$2,275,787$908,374$653,181$1,326,158
82$2,429,996$874,964$597,142$1,343,161
83$2,597,480$837,461$536,770$1,361,130
84$2,779,516$795,590$471,845$1,380,264
85$2,977,508$749,055$402,133$1,400,790
86$3,193,001$697,546$327,392$1,422,970
87$3,427,695$640,734$247,368$1,447,100
88$3,683,463$578,272$161,797$1,473,516
89$3,962,362$509,794$70,403$1,502,601
90$4,266,659$434,910$0$1,534,787
91$4,598,849$353,211$0$1,577,512
92$4,961,677$264,264$0$1,644,070
93$5,358,167$167,612$0$1,717,115
94$5,791,646$62,771$0$1,797,431
95$6,265,779$0$0$1,885,891
96$6,784,600$0$0$2,010,284
97$7,352,552$0$0$2,182,911
98$7,974,526$0$0$2,372,125
99$8,655,910$0$0$2,579,586
100$9,402,637$0$0$2,807,120