Can I retire at age 69 with 2,950,000?

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 $2,950,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$243,608$241,438$239,321$237,255$235,237$233,364
2 years$120,598$118,352$116,175$114,065$112,018$110,129
3 years$79,600$77,344$75,173$73,082$71,069$69,224
4 years$59,105$56,856$54,707$52,652$50,687$48,899
5 years$46,811$44,576$42,455$40,442$38,531$36,807
6 years$38,618$36,400$34,310$32,341$30,488$28,829
7 years$32,768$30,568$28,512$26,590$24,795$23,202
8 years$28,383$26,203$24,180$22,305$20,570$19,042
9 years$24,974$22,814$20,826$18,999$17,323$15,861
10 years$22,248$20,110$18,157$16,378$14,760$13,362
11 years$20,019$17,902$15,985$14,253$12,694$11,360
12 years$18,163$16,068$14,186$12,502$11,000$9,729
13 years$16,594$14,521$12,674$11,038$9,593$8,382
14 years$15,250$13,199$11,388$9,798$8,409$7,258
15 years$14,087$12,058$10,282$8,738$7,404$6,310
16 years$13,070$11,063$9,322$7,824$6,544$5,506
17 years$12,173$10,188$8,483$7,030$5,802$4,819
18 years$11,377$9,414$7,744$6,335$5,159$4,229
19 years$10,666$8,725$7,089$5,724$4,598$3,719
20 years$10,026$8,108$6,506$5,185$4,107$3,277
21 years$9,448$7,552$5,984$4,705$3,675$2,892
22 years$8,924$7,050$5,515$4,278$3,295$2,556
23 years$8,445$6,593$5,092$3,896$2,957$2,262
24 years$8,008$6,178$4,710$3,554$2,658$2,004
25 years$7,606$5,797$4,362$3,245$2,392$1,777
26 years$7,235$5,449$4,046$2,967$2,155$1,578
27 years$6,892$5,128$3,757$2,716$1,943$1,401
28 years$6,575$4,832$3,492$2,489$1,753$1,246
29 years$6,280$4,558$3,250$2,282$1,583$1,108
30 years$6,005$4,305$3,027$2,094$1,430$986
31 years$5,748$4,070$2,822$1,923$1,293$878
32 years$5,508$3,851$2,633$1,768$1,170$782
33 years$5,283$3,647$2,459$1,626$1,058$697
34 years$5,072$3,456$2,297$1,496$958$621
35 years$4,873$3,278$2,148$1,377$868$553
36 years$4,685$3,111$2,009$1,268$786$494
37 years$4,508$2,955$1,880$1,168$713$440
38 years$4,341$2,808$1,761$1,077$646$393
39 years$4,183$2,671$1,650$993$586$350
40 years$4,033$2,541$1,546$916$531$313
41 years$3,891$2,419$1,450$845$482$279
42 years$3,756$2,303$1,360$780$438$249
43 years$3,627$2,195$1,276$720$397$223
44 years$3,505$2,092$1,198$665$360$199
45 years$3,388$1,995$1,125$614$327$177
46 years$3,277$1,903$1,057$567$297$158
47 years$3,171$1,816$993$524$270$142
48 years$3,070$1,734$933$484$245$126
49 years$2,973$1,656$877$447$223$113
50 years$2,880$1,581$824$414$202$101

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 69 starting with $2,950,000, adding $3,089 every year, while hoping to spend $21,907 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: 54/40/6 Blend
68$2,950,000$2,950,000$2,950,000$2,950,000
69$3,254,086$3,097,736$3,052,011$3,425,263
70$3,562,694$3,226,217$3,130,945$3,669,746
71$3,902,046$3,360,258$3,211,788$3,933,001
72$4,275,254$3,500,110$3,294,583$4,218,963
73$4,685,748$3,646,034$3,379,370$4,529,788
74$5,137,307$3,798,302$3,466,191$4,867,838
75$5,634,094$3,957,200$3,555,090$5,235,716
76$6,180,695$4,123,027$3,646,109$5,636,279
77$6,782,166$4,296,095$3,739,293$6,072,667
78$7,444,074$4,476,731$3,834,687$6,548,336
79$8,172,556$4,665,277$3,932,335$7,067,082
80$8,974,372$4,862,091$4,032,284$7,633,082
81$9,856,972$5,067,548$4,134,580$8,250,930
82$10,828,565$5,282,039$4,239,270$8,925,677
83$11,898,195$5,505,975$4,346,402$9,662,881
84$13,075,829$5,739,786$4,456,024$10,468,656
85$14,372,447$5,983,919$4,568,185$11,349,728
86$15,800,152$6,238,846$4,682,934$12,313,499
87$17,372,276$6,505,059$4,800,321$13,368,113
88$19,103,514$6,783,072$4,920,397$14,522,534
89$21,010,054$7,073,424$5,043,212$15,786,624
90$23,109,738$7,376,680$5,168,818$17,171,240
91$25,422,224$7,693,431$5,297,267$18,688,333
92$27,969,176$8,024,294$5,428,610$20,351,055
93$30,774,464$8,369,916$5,562,900$22,173,888
94$33,864,393$8,730,976$5,700,191$24,172,772
95$37,267,949$9,108,182$5,840,536$26,365,257
96$41,017,074$9,502,276$5,983,988$28,770,666
97$45,146,964$9,914,037$6,130,601$31,410,274
98$49,696,408$10,344,278$6,280,429$34,307,507
99$54,708,145$10,793,851$6,433,527$37,488,160
100$60,229,274$11,263,648$6,589,948$40,980,639