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

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 $2,950,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.3%
1 years$243,608$241,438$239,321$237,255$235,237$228,256
2 years$120,598$118,352$116,175$114,065$112,018$105,042
3 years$79,600$77,344$75,173$73,082$71,069$64,317
4 years$59,105$56,856$54,707$52,652$50,687$44,211
5 years$46,811$44,576$42,455$40,442$38,531$32,349
6 years$38,618$36,400$34,310$32,341$30,488$24,605
7 years$32,768$30,568$28,512$26,590$24,795$19,211
8 years$28,383$26,203$24,180$22,305$20,570$15,281
9 years$24,974$22,814$20,826$18,999$17,323$12,324
10 years$22,248$20,110$18,157$16,378$14,760$10,044
11 years$20,019$17,902$15,985$14,253$12,694$8,253
12 years$18,163$16,068$14,186$12,502$11,000$6,825
13 years$16,594$14,521$12,674$11,038$9,593$5,674
14 years$15,250$13,199$11,388$9,798$8,409$4,737
15 years$14,087$12,058$10,282$8,738$7,404$3,968
16 years$13,070$11,063$9,322$7,824$6,544$3,333
17 years$12,173$10,188$8,483$7,030$5,802$2,807
18 years$11,377$9,414$7,744$6,335$5,159$2,368
19 years$10,666$8,725$7,089$5,724$4,598$2,001
20 years$10,026$8,108$6,506$5,185$4,107$1,693
21 years$9,448$7,552$5,984$4,705$3,675$1,435
22 years$8,924$7,050$5,515$4,278$3,295$1,216
23 years$8,445$6,593$5,092$3,896$2,957$1,032
24 years$8,008$6,178$4,710$3,554$2,658$877
25 years$7,606$5,797$4,362$3,245$2,392$745
26 years$7,235$5,449$4,046$2,967$2,155$633
27 years$6,892$5,128$3,757$2,716$1,943$539
28 years$6,575$4,832$3,492$2,489$1,753$458
29 years$6,280$4,558$3,250$2,282$1,583$390
30 years$6,005$4,305$3,027$2,094$1,430$332
31 years$5,748$4,070$2,822$1,923$1,293$283
32 years$5,508$3,851$2,633$1,768$1,170$241
33 years$5,283$3,647$2,459$1,626$1,058$205
34 years$5,072$3,456$2,297$1,496$958$175
35 years$4,873$3,278$2,148$1,377$868$149
36 years$4,685$3,111$2,009$1,268$786$127
37 years$4,508$2,955$1,880$1,168$713$108
38 years$4,341$2,808$1,761$1,077$646$92
39 years$4,183$2,671$1,650$993$586$78
40 years$4,033$2,541$1,546$916$531$67
41 years$3,891$2,419$1,450$845$482$57
42 years$3,756$2,303$1,360$780$438$49
43 years$3,627$2,195$1,276$720$397$41
44 years$3,505$2,092$1,198$665$360$35
45 years$3,388$1,995$1,125$614$327$30
46 years$3,277$1,903$1,057$567$297$26
47 years$3,171$1,816$993$524$270$22
48 years$3,070$1,734$933$484$245$19
49 years$2,973$1,656$877$447$223$16
50 years$2,880$1,581$824$414$202$14

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 $6,035 every year, while hoping to spend $59,283 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: 57/21/22 Blend
68$2,950,000$2,950,000$2,950,000$2,950,000
69$3,257,125$3,100,775$3,055,050$3,423,155
70$3,526,275$3,189,636$3,094,318$3,625,976
71$3,820,892$3,280,865$3,132,914$3,840,059
72$4,143,510$3,374,514$3,170,753$4,072,097
73$4,496,920$3,470,638$3,207,746$4,323,835
74$4,884,199$3,569,292$3,243,798$4,597,195
75$5,308,730$3,670,530$3,278,808$4,894,292
76$5,774,243$3,774,409$3,312,671$5,217,458
77$6,284,845$3,880,984$3,345,275$5,569,260
78$6,845,060$3,990,313$3,376,502$5,952,525
79$7,459,870$4,102,453$3,406,229$6,370,367
80$8,134,765$4,217,461$3,434,326$6,826,218
81$8,875,789$4,335,394$3,460,654$7,323,856
82$9,689,603$4,456,312$3,485,069$7,867,445
83$10,583,543$4,580,272$3,507,420$8,461,572
84$11,565,691$4,707,333$3,527,545$9,111,291
85$12,644,952$4,837,552$3,545,278$9,822,168
86$13,831,133$4,970,988$3,560,441$10,600,337
87$15,135,041$5,107,699$3,572,848$11,452,559
88$16,568,581$5,247,742$3,582,305$12,386,278
89$18,144,871$5,391,175$3,588,606$13,409,701
90$19,878,359$5,538,055$3,591,536$14,531,869
91$21,784,970$5,688,437$3,590,870$15,762,743
92$23,882,243$5,842,377$3,586,371$17,113,302
93$26,189,507$5,999,929$3,577,790$18,595,641
94$28,728,058$6,161,147$3,564,867$20,223,090
95$31,521,358$6,326,081$3,547,328$22,010,336
96$34,595,261$6,494,783$3,524,887$23,973,565
97$37,978,251$6,667,301$3,497,245$26,130,613
98$41,701,716$6,843,682$3,464,086$28,501,134
99$45,800,239$7,023,971$3,425,081$31,106,786
100$50,311,928$7,208,210$3,379,885$33,971,438