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

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 $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%15.4%
1 years$84,231$83,480$82,748$82,034$81,336$79,532
2 years$41,698$40,922$40,169$39,439$38,732$36,923
3 years$27,523$26,743$25,992$25,269$24,573$22,816
4 years$20,436$19,659$18,916$18,205$17,526$15,835
5 years$16,186$15,413$14,679$13,983$13,323$11,703
6 years$13,353$12,586$11,863$11,182$10,542$8,994
7 years$11,330$10,569$9,858$9,194$8,573$7,098
8 years$9,814$9,060$8,361$7,712$7,112$5,709
9 years$8,635$7,888$7,201$6,569$5,990$4,658
10 years$7,692$6,953$6,278$5,663$5,103$3,841
11 years$6,922$6,190$5,527$4,928$4,389$3,195
12 years$6,280$5,556$4,905$4,323$3,804$2,675
13 years$5,738$5,021$4,382$3,816$3,317$2,253
14 years$5,273$4,564$3,938$3,388$2,907$1,905
15 years$4,871$4,169$3,555$3,021$2,560$1,617
16 years$4,519$3,825$3,223$2,705$2,262$1,377
17 years$4,209$3,523$2,933$2,431$2,006$1,176
18 years$3,934$3,255$2,677$2,190$1,784$1,006
19 years$3,688$3,017$2,451$1,979$1,590$862
20 years$3,467$2,803$2,249$1,793$1,420$740
21 years$3,267$2,611$2,069$1,627$1,271$636
22 years$3,085$2,438$1,907$1,479$1,139$548
23 years$2,920$2,280$1,761$1,347$1,023$472
24 years$2,769$2,136$1,628$1,229$919$407
25 years$2,630$2,005$1,508$1,122$827$351
26 years$2,502$1,884$1,399$1,026$745$303
27 years$2,383$1,773$1,299$939$672$262
28 years$2,273$1,671$1,208$860$606$226
29 years$2,171$1,576$1,124$789$547$195
30 years$2,076$1,488$1,047$724$494$169
31 years$1,988$1,407$976$665$447$146
32 years$1,905$1,331$910$611$404$126
33 years$1,827$1,261$850$562$366$109
34 years$1,754$1,195$794$517$331$95
35 years$1,685$1,133$743$476$300$82
36 years$1,620$1,076$695$438$272$71
37 years$1,559$1,022$650$404$246$61
38 years$1,501$971$609$372$223$53
39 years$1,446$923$570$343$203$46
40 years$1,395$879$535$317$184$40
41 years$1,345$836$501$292$167$35
42 years$1,299$796$470$270$151$30
43 years$1,254$759$441$249$137$26
44 years$1,212$723$414$230$125$22
45 years$1,172$690$389$212$113$19
46 years$1,133$658$365$196$103$17
47 years$1,097$628$343$181$93$15
48 years$1,061$599$323$167$85$13
49 years$1,028$572$303$155$77$11
50 years$996$547$285$143$70$10

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 $3,632 every year, while hoping to spend $32,974 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: 34/45/21 Blend
68$1,020,000$1,020,000$1,020,000$1,020,000
69$1,127,786$1,073,726$1,057,916$1,158,778
70$1,207,737$1,091,255$1,058,273$1,199,561
71$1,294,736$1,108,537$1,057,535$1,240,227
72$1,389,470$1,125,526$1,055,634$1,283,401
73$1,492,691$1,142,172$1,052,492$1,329,327
74$1,605,228$1,158,421$1,048,033$1,378,272
75$1,727,992$1,174,214$1,042,173$1,430,532
76$1,861,988$1,189,491$1,034,826$1,486,437
77$2,008,319$1,204,185$1,025,902$1,546,349
78$2,168,204$1,218,226$1,015,306$1,610,671
79$2,342,981$1,231,539$1,002,938$1,679,846
80$2,534,124$1,244,043$988,695$1,754,368
81$2,743,256$1,255,653$972,469$1,834,781
82$2,972,165$1,266,278$954,143$1,921,686
83$3,222,820$1,275,819$933,601$2,015,749
84$3,497,388$1,284,174$910,717$2,117,706
85$3,798,255$1,291,232$885,360$2,228,373
86$4,128,051$1,296,877$857,393$2,348,648
87$4,489,671$1,300,983$826,675$2,479,527
88$4,886,304$1,303,417$793,055$2,622,109
89$5,321,462$1,304,040$756,377$2,777,611
90$5,799,014$1,302,701$716,479$2,947,375
91$6,323,222$1,299,241$673,189$3,132,888
92$6,898,778$1,293,492$626,329$3,335,789
93$7,530,856$1,285,275$575,713$3,557,890
94$8,225,149$1,274,400$521,145$3,801,195
95$8,987,934$1,260,665$462,424$4,067,916
96$9,826,124$1,243,858$399,335$4,360,496
97$10,747,334$1,223,752$331,658$4,681,633
98$11,759,954$1,200,108$259,160$5,034,309
99$12,873,227$1,172,672$181,601$5,421,813
100$14,097,338$1,141,174$98,726$5,847,781