Can I retire at age 69 with 2,980,000?

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 $2,980,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.5%
1 years$246,086$243,894$241,755$239,668$237,629$235,148
2 years$121,825$119,556$117,357$115,225$113,157$110,658
3 years$80,410$78,131$75,938$73,826$71,791$69,352
4 years$59,706$57,435$55,263$53,187$51,202$48,842
5 years$47,287$45,029$42,886$40,853$38,923$36,649
6 years$39,011$36,770$34,659$32,670$30,799$28,613
7 years$33,101$30,879$28,801$26,860$25,047$22,951
8 years$28,671$26,469$24,426$22,532$20,779$18,772
9 years$25,228$23,046$21,038$19,193$17,499$15,581
10 years$22,474$20,314$18,341$16,544$14,910$13,079
11 years$20,223$18,084$16,148$14,398$12,823$11,078
12 years$18,348$16,232$14,331$12,629$11,112$9,452
13 years$16,763$14,669$12,803$11,150$9,690$8,112
14 years$15,405$13,333$11,504$9,898$8,494$6,996
15 years$14,230$12,180$10,386$8,827$7,479$6,058
16 years$13,203$11,175$9,417$7,903$6,610$5,265
17 years$12,297$10,292$8,569$7,101$5,861$4,588
18 years$11,493$9,510$7,822$6,400$5,211$4,009
19 years$10,774$8,814$7,161$5,783$4,645$3,510
20 years$10,128$8,190$6,572$5,237$4,149$3,079
21 years$9,544$7,629$6,045$4,753$3,713$2,706
22 years$9,014$7,121$5,571$4,322$3,328$2,381
23 years$8,531$6,661$5,144$3,936$2,987$2,097
24 years$8,089$6,240$4,757$3,590$2,685$1,850
25 years$7,683$5,856$4,406$3,278$2,416$1,633
26 years$7,309$5,504$4,087$2,998$2,176$1,442
27 years$6,963$5,180$3,795$2,744$1,962$1,275
28 years$6,642$4,881$3,528$2,514$1,771$1,128
29 years$6,344$4,605$3,283$2,305$1,599$998
30 years$6,066$4,349$3,058$2,116$1,445$884
31 years$5,807$4,111$2,851$1,943$1,306$783
32 years$5,564$3,890$2,660$1,786$1,181$694
33 years$5,337$3,684$2,484$1,642$1,069$615
34 years$5,123$3,491$2,320$1,511$968$546
35 years$4,922$3,311$2,169$1,391$877$484
36 years$4,733$3,143$2,029$1,281$794$430
37 years$4,554$2,985$1,900$1,180$720$381
38 years$4,385$2,837$1,779$1,088$653$338
39 years$4,226$2,698$1,667$1,003$592$300
40 years$4,074$2,567$1,562$925$537$267
41 years$3,930$2,443$1,465$854$487$237
42 years$3,794$2,327$1,374$788$442$210
43 years$3,664$2,217$1,289$727$401$187
44 years$3,541$2,113$1,210$671$364$166
45 years$3,423$2,015$1,136$620$331$147
46 years$3,311$1,922$1,067$573$300$131
47 years$3,204$1,835$1,003$529$273$116
48 years$3,101$1,751$942$489$247$103
49 years$3,003$1,672$886$452$225$92
50 years$2,910$1,598$833$418$204$82

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 69 starting with $2,980,000, adding $4,279 every year, while hoping to spend $43,157 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: 69/11/20 Blend
68$2,980,000$2,980,000$2,980,000$2,980,000
69$3,288,374$3,130,434$3,084,244$3,498,784
70$3,577,869$3,237,906$3,141,647$3,747,328
71$3,895,447$3,349,199$3,199,527$4,013,732
72$4,243,925$3,464,452$3,257,854$4,304,187
73$4,626,409$3,583,814$3,316,596$4,621,062
74$5,046,319$3,707,437$3,375,719$4,966,970
75$5,507,423$3,835,481$3,435,184$5,344,785
76$6,013,870$3,968,109$3,494,953$5,757,675
77$6,570,232$4,105,494$3,554,981$6,209,126
78$7,181,546$4,247,814$3,615,223$6,702,979
79$7,853,361$4,395,253$3,675,630$7,243,465
80$8,591,788$4,548,005$3,736,148$7,835,244
81$9,403,562$4,706,269$3,796,721$8,483,446
82$10,296,103$4,870,254$3,857,289$9,193,725
83$11,277,585$5,040,175$3,917,787$9,972,310
84$12,357,012$5,216,258$3,978,147$10,826,058
85$13,544,309$5,398,736$4,038,296$11,762,528
86$14,850,407$5,587,852$4,098,157$12,790,044
87$16,287,351$5,783,860$4,157,648$13,917,777
88$17,868,412$5,987,020$4,216,681$15,155,831
89$19,608,214$6,197,608$4,275,163$16,515,338
90$21,522,868$6,415,907$4,332,998$18,008,562
91$23,630,128$6,642,214$4,390,080$19,649,014
92$25,949,553$6,876,835$4,446,300$21,451,582
93$28,502,698$7,120,091$4,501,542$23,432,666
94$31,313,313$7,372,314$4,555,683$25,610,339
95$34,407,565$7,633,852$4,608,592$28,004,513
96$37,814,290$7,905,064$4,660,134$30,637,126
97$41,565,261$8,186,326$4,710,162$33,532,353
98$45,695,490$8,478,028$4,758,524$36,716,827
99$50,243,555$8,780,576$4,805,060$40,219,899
100$55,251,967$9,094,394$4,849,599$44,073,907