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%12.3%
1 years$243,608$241,438$239,321$237,255$235,237$232,974
2 years$120,598$118,352$116,175$114,065$112,018$109,738
3 years$79,600$77,344$75,173$73,082$71,069$68,843
4 years$59,105$56,856$54,707$52,652$50,687$48,533
5 years$46,811$44,576$42,455$40,442$38,531$36,455
6 years$38,618$36,400$34,310$32,341$30,488$28,492
7 years$32,768$30,568$28,512$26,590$24,795$22,880
8 years$28,383$26,203$24,180$22,305$20,570$18,735
9 years$24,974$22,814$20,826$18,999$17,323$15,568
10 years$22,248$20,110$18,157$16,378$14,760$13,085
11 years$20,019$17,902$15,985$14,253$12,694$11,096
12 years$18,163$16,068$14,186$12,502$11,000$9,479
13 years$16,594$14,521$12,674$11,038$9,593$8,146
14 years$15,250$13,199$11,388$9,798$8,409$7,035
15 years$14,087$12,058$10,282$8,738$7,404$6,100
16 years$13,070$11,063$9,322$7,824$6,544$5,308
17 years$12,173$10,188$8,483$7,030$5,802$4,633
18 years$11,377$9,414$7,744$6,335$5,159$4,054
19 years$10,666$8,725$7,089$5,724$4,598$3,555
20 years$10,026$8,108$6,506$5,185$4,107$3,123
21 years$9,448$7,552$5,984$4,705$3,675$2,748
22 years$8,924$7,050$5,515$4,278$3,295$2,422
23 years$8,445$6,593$5,092$3,896$2,957$2,137
24 years$8,008$6,178$4,710$3,554$2,658$1,887
25 years$7,606$5,797$4,362$3,245$2,392$1,668
26 years$7,235$5,449$4,046$2,967$2,155$1,476
27 years$6,892$5,128$3,757$2,716$1,943$1,307
28 years$6,575$4,832$3,492$2,489$1,753$1,158
29 years$6,280$4,558$3,250$2,282$1,583$1,027
30 years$6,005$4,305$3,027$2,094$1,430$911
31 years$5,748$4,070$2,822$1,923$1,293$808
32 years$5,508$3,851$2,633$1,768$1,170$717
33 years$5,283$3,647$2,459$1,626$1,058$637
34 years$5,072$3,456$2,297$1,496$958$566
35 years$4,873$3,278$2,148$1,377$868$503
36 years$4,685$3,111$2,009$1,268$786$447
37 years$4,508$2,955$1,880$1,168$713$397
38 years$4,341$2,808$1,761$1,077$646$353
39 years$4,183$2,671$1,650$993$586$314
40 years$4,033$2,541$1,546$916$531$279
41 years$3,891$2,419$1,450$845$482$249
42 years$3,756$2,303$1,360$780$438$221
43 years$3,627$2,195$1,276$720$397$197
44 years$3,505$2,092$1,198$665$360$175
45 years$3,388$1,995$1,125$614$327$156
46 years$3,277$1,903$1,057$567$297$139
47 years$3,171$1,816$993$524$270$123
48 years$3,070$1,734$933$484$245$110
49 years$2,973$1,656$877$447$223$98
50 years$2,880$1,581$824$414$202$87

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 $3,055 every year, while hoping to spend $54,872 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: 55/17/28 Blend
68$2,950,000$2,950,000$2,950,000$2,950,000
69$3,254,051$3,097,701$3,051,976$3,407,642
70$3,527,581$3,191,105$3,095,834$3,607,318
71$3,827,172$3,287,247$3,139,322$3,818,766
72$4,155,424$3,386,203$3,182,370$4,047,963
73$4,515,201$3,488,050$3,224,903$4,296,639
74$4,909,657$3,592,870$3,266,843$4,566,697
75$5,342,265$3,700,744$3,308,105$4,860,232
76$5,816,852$3,811,756$3,348,603$5,179,554
77$6,337,632$3,925,993$3,388,241$5,527,204
78$6,909,246$4,043,542$3,426,923$5,905,984
79$7,536,807$4,164,495$3,464,544$6,318,980
80$8,225,949$4,288,942$3,500,993$6,769,589
81$8,982,876$4,416,980$3,536,156$7,261,555
82$9,814,422$4,548,705$3,569,910$7,799,005
83$10,728,117$4,684,216$3,602,127$8,386,481
84$11,732,258$4,823,615$3,632,670$9,028,991
85$12,835,981$4,967,005$3,661,398$9,732,051
86$14,049,356$5,114,493$3,688,160$10,501,740
87$15,383,474$5,266,188$3,712,797$11,344,753
88$16,850,557$5,422,199$3,735,144$12,268,470
89$18,464,068$5,582,641$3,755,026$13,281,022
90$20,238,842$5,747,629$3,772,258$14,391,366
91$22,191,223$5,917,282$3,786,648$15,609,375
92$24,339,220$6,091,721$3,797,993$16,945,927
93$26,702,674$6,271,069$3,806,079$18,413,008
94$29,303,447$6,455,452$3,810,683$20,023,826
95$32,165,627$6,644,998$3,811,570$21,792,938
96$35,315,757$6,839,838$3,808,493$23,736,382
97$38,783,081$7,040,107$3,801,194$25,871,833
98$42,599,823$7,245,940$3,789,402$28,218,767
99$46,801,490$7,457,476$3,772,832$30,798,649
100$51,427,206$7,674,857$3,751,186$33,635,131