Can I retire at age 69 with 1,220,000?

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 $1,220,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.3%
1 years$100,746$99,849$98,974$98,119$97,285$95,165
2 years$49,874$48,946$48,045$47,173$46,326$44,201
3 years$32,919$31,987$31,089$30,224$29,391$27,327
4 years$24,443$23,513$22,625$21,775$20,962$18,975
5 years$19,359$18,435$17,558$16,725$15,935$14,031
6 years$15,971$15,053$14,189$13,375$12,609$10,789
7 years$13,552$12,642$11,791$10,996$10,254$8,520
8 years$11,738$10,836$10,000$9,225$8,507$6,857
9 years$10,328$9,435$8,613$7,857$7,164$5,597
10 years$9,201$8,317$7,509$6,773$6,104$4,619
11 years$8,279$7,404$6,611$5,895$5,250$3,844
12 years$7,512$6,645$5,867$5,170$4,549$3,221
13 years$6,863$6,005$5,242$4,565$3,967$2,714
14 years$6,307$5,459$4,710$4,052$3,478$2,297
15 years$5,826$4,987$4,252$3,614$3,062$1,951
16 years$5,405$4,575$3,855$3,236$2,706$1,663
17 years$5,034$4,213$3,508$2,907$2,399$1,421
18 years$4,705$3,893$3,202$2,620$2,133$1,216
19 years$4,411$3,608$2,932$2,367$1,902$1,043
20 years$4,146$3,353$2,691$2,144$1,699$896
21 years$3,907$3,123$2,475$1,946$1,520$771
22 years$3,690$2,915$2,281$1,769$1,362$664
23 years$3,493$2,727$2,106$1,611$1,223$573
24 years$3,312$2,555$1,948$1,470$1,099$494
25 years$3,145$2,398$1,804$1,342$989$427
26 years$2,992$2,253$1,673$1,227$891$369
27 years$2,850$2,121$1,554$1,123$803$319
28 years$2,719$1,998$1,444$1,029$725$275
29 years$2,597$1,885$1,344$944$655$238
30 years$2,483$1,780$1,252$866$591$206
31 years$2,377$1,683$1,167$795$535$179
32 years$2,278$1,592$1,089$731$484$155
33 years$2,185$1,508$1,017$672$438$134
34 years$2,097$1,429$950$619$396$116
35 years$2,015$1,356$888$569$359$100
36 years$1,938$1,287$831$524$325$87
37 years$1,864$1,222$778$483$295$75
38 years$1,795$1,161$728$445$267$65
39 years$1,730$1,104$682$411$242$57
40 years$1,668$1,051$640$379$220$49
41 years$1,609$1,000$600$349$199$43
42 years$1,553$953$563$323$181$37
43 years$1,500$908$528$298$164$32
44 years$1,450$865$495$275$149$28
45 years$1,401$825$465$254$135$24
46 years$1,355$787$437$234$123$21
47 years$1,312$751$411$217$112$18
48 years$1,270$717$386$200$101$16
49 years$1,230$685$363$185$92$14
50 years$1,191$654$341$171$84$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 69 starting with $1,220,000, adding $5,442 every year, while hoping to spend $36,091 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: 61/25/14 Blend
68$1,220,000$1,220,000$1,220,000$1,220,000
69$1,350,053$1,285,393$1,266,483$1,427,430
70$1,449,358$1,309,977$1,270,510$1,504,699
71$1,557,583$1,334,556$1,273,462$1,584,418
72$1,675,598$1,359,091$1,275,265$1,670,545
73$1,804,364$1,383,542$1,275,842$1,763,701
74$1,944,937$1,407,863$1,275,110$1,864,575
75$2,098,479$1,432,006$1,272,984$1,973,921
76$2,266,269$1,455,920$1,269,375$2,092,574
77$2,449,717$1,479,549$1,264,187$2,221,453
78$2,650,374$1,502,833$1,257,323$2,361,570
79$2,869,948$1,525,707$1,248,679$2,514,043
80$3,110,319$1,548,103$1,238,146$2,680,101
81$3,373,558$1,569,947$1,225,611$2,861,101
82$3,661,947$1,591,160$1,210,955$3,058,539
83$3,977,996$1,611,657$1,194,052$3,274,062
84$4,324,472$1,631,348$1,174,773$3,509,488
85$4,704,421$1,650,137$1,152,981$3,766,819
86$5,121,198$1,667,921$1,128,532$4,048,265
87$5,578,501$1,684,589$1,101,278$4,356,257
88$6,080,398$1,700,024$1,071,062$4,693,481
89$6,631,376$1,714,102$1,037,719$5,062,894
90$7,236,372$1,726,689$1,001,078$5,467,757
91$7,900,829$1,737,644$960,961$5,911,664
92$8,630,740$1,746,815$917,180$6,398,579
93$9,432,709$1,754,043$869,540$6,932,871
94$10,314,011$1,759,156$817,834$7,519,354
95$11,282,658$1,761,973$761,851$8,163,339
96$12,347,482$1,762,302$701,365$8,870,677
97$13,518,208$1,759,938$636,144$9,647,820
98$14,805,554$1,754,664$565,943$10,501,880
99$16,221,326$1,746,248$490,508$11,440,697
100$17,778,534$1,734,447$409,572$12,472,913