Can I retire at age 69 with 2,240,000?

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 $2,240,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$184,977$183,329$181,722$180,153$178,621$177,644
2 years$91,573$89,867$88,215$86,612$85,057$84,072
3 years$60,442$58,729$57,081$55,493$53,964$53,000
4 years$44,880$43,172$41,540$39,980$38,488$37,553
5 years$35,545$33,848$32,237$30,708$29,258$28,355
6 years$29,324$27,639$26,052$24,558$23,151$22,281
7 years$24,882$23,211$21,649$20,190$18,828$17,991
8 years$21,552$19,896$18,360$16,937$15,619$14,816
9 years$18,963$17,323$15,814$14,427$13,154$12,384
10 years$16,893$15,270$13,787$12,436$11,208$10,471
11 years$15,201$13,594$12,138$10,823$9,639$8,935
12 years$13,792$12,201$10,772$9,493$8,353$7,680
13 years$12,600$11,026$9,624$8,381$7,284$6,643
14 years$11,580$10,022$8,647$7,440$6,385$5,774
15 years$10,696$9,156$7,807$6,635$5,622$5,041
16 years$9,924$8,400$7,078$5,941$4,969$4,416
17 years$9,243$7,736$6,441$5,338$4,406$3,881
18 years$8,639$7,149$5,880$4,810$3,917$3,420
19 years$8,099$6,625$5,383$4,347$3,491$3,021
20 years$7,613$6,157$4,940$3,937$3,119$2,673
21 years$7,174$5,735$4,544$3,573$2,791$2,370
22 years$6,776$5,353$4,188$3,249$2,502$2,104
23 years$6,413$5,007$3,867$2,959$2,246$1,870
24 years$6,080$4,691$3,576$2,698$2,018$1,665
25 years$5,775$4,402$3,312$2,464$1,816$1,483
26 years$5,494$4,137$3,072$2,253$1,636$1,323
27 years$5,234$3,894$2,853$2,062$1,475$1,181
28 years$4,992$3,669$2,652$1,890$1,331$1,054
29 years$4,768$3,461$2,468$1,733$1,202$942
30 years$4,560$3,269$2,299$1,590$1,086$843
31 years$4,365$3,090$2,143$1,461$982$754
32 years$4,182$2,924$1,999$1,342$888$675
33 years$4,012$2,769$1,867$1,234$804$604
34 years$3,851$2,624$1,744$1,136$728$541
35 years$3,700$2,489$1,631$1,045$659$485
36 years$3,558$2,363$1,526$963$597$435
37 years$3,423$2,244$1,428$887$541$390
38 years$3,296$2,132$1,337$818$491$349
39 years$3,176$2,028$1,253$754$445$313
40 years$3,062$1,929$1,174$695$404$281
41 years$2,954$1,836$1,101$642$366$252
42 years$2,852$1,749$1,033$592$332$226
43 years$2,754$1,666$969$547$302$203
44 years$2,661$1,588$910$505$274$182
45 years$2,573$1,515$854$466$248$164
46 years$2,489$1,445$802$431$226$147
47 years$2,408$1,379$754$398$205$132
48 years$2,331$1,316$708$368$186$118
49 years$2,257$1,257$666$340$169$106
50 years$2,187$1,201$626$314$153$95

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 69 starting with $2,240,000, adding $4,188 every year, while hoping to spend $32,960 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: 48/42/10 Blend
68$2,240,000$2,240,000$2,240,000$2,240,000
69$2,472,800$2,354,080$2,319,360$2,584,564
70$2,689,956$2,434,361$2,361,989$2,742,078
71$2,928,158$2,517,470$2,404,942$2,909,213
72$3,189,517$2,603,513$2,448,194$3,089,923
73$3,476,359$2,692,597$2,491,720$3,285,484
74$3,791,246$2,784,833$2,535,492$3,497,296
75$4,137,002$2,880,338$2,579,479$3,726,902
76$4,516,734$2,979,233$2,623,650$3,975,995
77$4,933,869$3,081,643$2,667,970$4,246,440
78$5,392,179$3,187,699$2,712,402$4,540,286
79$5,895,820$3,297,535$2,756,907$4,859,787
80$6,449,373$3,411,294$2,801,442$5,207,423
81$7,057,882$3,529,120$2,845,963$5,585,922
82$7,726,905$3,651,165$2,890,422$5,998,288
83$8,462,565$3,777,589$2,934,767$6,447,822
84$9,271,610$3,908,553$2,978,945$6,938,161
85$10,161,471$4,044,230$3,022,897$7,473,306
86$11,140,340$4,184,796$3,066,563$8,057,659
87$12,217,239$4,330,435$3,109,877$8,696,070
88$13,402,110$4,481,339$3,152,770$9,393,874
89$14,705,907$4,637,706$3,195,170$10,156,946
90$16,140,700$4,799,745$3,236,999$10,991,753
91$17,719,788$4,967,669$3,278,175$11,905,417
92$19,457,824$5,141,702$3,318,611$12,905,777
93$21,370,954$5,322,078$3,358,217$14,001,469
94$23,476,969$5,509,037$3,396,895$15,201,999
95$25,795,472$5,702,832$3,434,543$16,517,837
96$28,348,064$5,903,725$3,471,054$17,960,514
97$31,158,546$6,111,987$3,506,314$19,542,727
98$34,253,145$6,327,901$3,540,203$21,278,462
99$37,660,761$6,551,763$3,572,594$23,183,123
100$41,413,238$6,783,879$3,603,355$25,273,676