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%12.7%
1 years$243,608$241,438$239,321$237,255$235,237$232,587
2 years$120,598$118,352$116,175$114,065$112,018$109,350
3 years$79,600$77,344$75,173$73,082$71,069$68,466
4 years$59,105$56,856$54,707$52,652$50,687$48,169
5 years$46,811$44,576$42,455$40,442$38,531$36,106
6 years$38,618$36,400$34,310$32,341$30,488$28,159
7 years$32,768$30,568$28,512$26,590$24,795$22,562
8 years$28,383$26,203$24,180$22,305$20,570$18,433
9 years$24,974$22,814$20,826$18,999$17,323$15,281
10 years$22,248$20,110$18,157$16,378$14,760$12,812
11 years$20,019$17,902$15,985$14,253$12,694$10,839
12 years$18,163$16,068$14,186$12,502$11,000$9,235
13 years$16,594$14,521$12,674$11,038$9,593$7,916
14 years$15,250$13,199$11,388$9,798$8,409$6,818
15 years$14,087$12,058$10,282$8,738$7,404$5,896
16 years$13,070$11,063$9,322$7,824$6,544$5,117
17 years$12,173$10,188$8,483$7,030$5,802$4,453
18 years$11,377$9,414$7,744$6,335$5,159$3,885
19 years$10,666$8,725$7,089$5,724$4,598$3,397
20 years$10,026$8,108$6,506$5,185$4,107$2,976
21 years$9,448$7,552$5,984$4,705$3,675$2,611
22 years$8,924$7,050$5,515$4,278$3,295$2,294
23 years$8,445$6,593$5,092$3,896$2,957$2,018
24 years$8,008$6,178$4,710$3,554$2,658$1,777
25 years$7,606$5,797$4,362$3,245$2,392$1,566
26 years$7,235$5,449$4,046$2,967$2,155$1,381
27 years$6,892$5,128$3,757$2,716$1,943$1,219
28 years$6,575$4,832$3,492$2,489$1,753$1,077
29 years$6,280$4,558$3,250$2,282$1,583$951
30 years$6,005$4,305$3,027$2,094$1,430$841
31 years$5,748$4,070$2,822$1,923$1,293$744
32 years$5,508$3,851$2,633$1,768$1,170$658
33 years$5,283$3,647$2,459$1,626$1,058$583
34 years$5,072$3,456$2,297$1,496$958$516
35 years$4,873$3,278$2,148$1,377$868$457
36 years$4,685$3,111$2,009$1,268$786$405
37 years$4,508$2,955$1,880$1,168$713$358
38 years$4,341$2,808$1,761$1,077$646$318
39 years$4,183$2,671$1,650$993$586$281
40 years$4,033$2,541$1,546$916$531$250
41 years$3,891$2,419$1,450$845$482$221
42 years$3,756$2,303$1,360$780$438$196
43 years$3,627$2,195$1,276$720$397$174
44 years$3,505$2,092$1,198$665$360$154
45 years$3,388$1,995$1,125$614$327$137
46 years$3,277$1,903$1,057$567$297$121
47 years$3,171$1,816$993$524$270$108
48 years$3,070$1,734$933$484$245$95
49 years$2,973$1,656$877$447$223$85
50 years$2,880$1,581$824$414$202$75

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 $3,028 every year, while hoping to spend $59,220 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: 65/30/5 Blend
68$2,950,000$2,950,000$2,950,000$2,950,000
69$3,254,023$3,097,673$3,051,948$3,463,146
70$3,522,924$3,186,450$3,091,179$3,691,192
71$3,817,268$3,277,591$3,129,739$3,932,870
72$4,139,588$3,371,152$3,167,544$4,195,313
73$4,492,672$3,467,184$3,204,503$4,480,534
74$4,879,593$3,565,745$3,240,522$4,790,743
75$5,303,732$3,666,887$3,275,500$5,128,377
76$5,768,816$3,770,668$3,309,333$5,496,117
77$6,278,948$3,877,144$3,341,908$5,896,913
78$6,838,648$3,986,370$3,373,109$6,334,016
79$7,452,892$4,098,405$3,402,811$6,811,002
80$8,127,166$4,213,306$3,430,884$7,331,811
81$8,867,510$4,331,131$3,457,191$7,900,782
82$9,680,577$4,451,937$3,481,588$8,522,691
83$10,573,697$4,575,783$3,503,922$9,202,799
84$11,554,944$4,702,727$3,524,034$9,946,901
85$12,633,215$4,832,827$3,541,756$10,761,378
86$13,818,309$4,966,142$3,556,911$11,653,259
87$15,121,023$5,102,729$3,569,313$12,630,288
88$16,553,251$5,242,646$3,578,769$13,700,991
89$18,128,097$5,385,950$3,585,072$14,874,764
90$19,860,000$5,532,698$3,588,009$16,161,955
91$21,764,866$5,682,946$3,587,353$17,573,965
92$23,860,221$5,836,750$3,582,869$19,123,353
93$26,165,376$5,994,163$3,574,307$20,823,955
94$28,701,606$6,155,239$3,561,408$22,691,016
95$31,492,354$6,320,029$3,543,899$24,741,329
96$34,563,448$6,488,585$3,521,494$26,993,396
97$37,943,348$6,660,954$3,493,893$29,467,605
98$41,663,413$6,837,184$3,460,781$32,186,414
99$45,758,194$7,017,319$3,421,830$35,174,573
100$50,265,764$7,201,402$3,376,696$38,459,347