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

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 $2,980,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.3%
1 years$246,086$243,894$241,755$239,668$237,629$228,743
2 years$121,825$119,556$117,357$115,225$113,157$104,306
3 years$80,410$78,131$75,938$73,826$71,791$63,254
4 years$59,706$57,435$55,263$53,187$51,202$43,044
5 years$47,287$45,029$42,886$40,853$38,923$31,165
6 years$39,011$36,770$34,659$32,670$30,799$23,445
7 years$33,101$30,879$28,801$26,860$25,047$18,098
8 years$28,671$26,469$24,426$22,532$20,779$14,226
9 years$25,228$23,046$21,038$19,193$17,499$11,334
10 years$22,474$20,314$18,341$16,544$14,910$9,122
11 years$20,223$18,084$16,148$14,398$12,823$7,399
12 years$18,348$16,232$14,331$12,629$11,112$6,038
13 years$16,763$14,669$12,803$11,150$9,690$4,952
14 years$15,405$13,333$11,504$9,898$8,494$4,077
15 years$14,230$12,180$10,386$8,827$7,479$3,367
16 years$13,203$11,175$9,417$7,903$6,610$2,788
17 years$12,297$10,292$8,569$7,101$5,861$2,313
18 years$11,493$9,510$7,822$6,400$5,211$1,923
19 years$10,774$8,814$7,161$5,783$4,645$1,600
20 years$10,128$8,190$6,572$5,237$4,149$1,334
21 years$9,544$7,629$6,045$4,753$3,713$1,112
22 years$9,014$7,121$5,571$4,322$3,328$929
23 years$8,531$6,661$5,144$3,936$2,987$776
24 years$8,089$6,240$4,757$3,590$2,685$648
25 years$7,683$5,856$4,406$3,278$2,416$542
26 years$7,309$5,504$4,087$2,998$2,176$454
27 years$6,963$5,180$3,795$2,744$1,962$380
28 years$6,642$4,881$3,528$2,514$1,771$318
29 years$6,344$4,605$3,283$2,305$1,599$266
30 years$6,066$4,349$3,058$2,116$1,445$223
31 years$5,807$4,111$2,851$1,943$1,306$187
32 years$5,564$3,890$2,660$1,786$1,181$156
33 years$5,337$3,684$2,484$1,642$1,069$131
34 years$5,123$3,491$2,320$1,511$968$110
35 years$4,922$3,311$2,169$1,391$877$92
36 years$4,733$3,143$2,029$1,281$794$77
37 years$4,554$2,985$1,900$1,180$720$65
38 years$4,385$2,837$1,779$1,088$653$54
39 years$4,226$2,698$1,667$1,003$592$45
40 years$4,074$2,567$1,562$925$537$38
41 years$3,930$2,443$1,465$854$487$32
42 years$3,794$2,327$1,374$788$442$27
43 years$3,664$2,217$1,289$727$401$22
44 years$3,541$2,113$1,210$671$364$19
45 years$3,423$2,015$1,136$620$331$16
46 years$3,311$1,922$1,067$573$300$13
47 years$3,204$1,835$1,003$529$273$11
48 years$3,101$1,751$942$489$247$9
49 years$3,003$1,672$886$452$225$8
50 years$2,910$1,598$833$418$204$7

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 $6,705 every year, while hoping to spend $20,049 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: 48/24/28 Blend
68$2,980,000$2,980,000$2,980,000$2,980,000
69$3,290,876$3,132,936$3,086,746$3,422,248
70$3,605,214$3,265,118$3,168,820$3,647,528
71$3,950,941$3,403,105$3,252,972$3,889,543
72$4,331,240$3,547,160$3,339,249$4,151,989
73$4,749,615$3,697,559$3,427,702$4,436,803
74$5,209,926$3,854,590$3,518,381$4,746,116
75$5,716,428$4,018,554$3,611,336$5,082,268
76$6,273,809$4,189,769$3,706,621$5,447,834
77$6,887,233$4,368,563$3,804,289$5,845,643
78$7,562,392$4,555,284$3,904,393$6,278,811
79$8,305,556$4,750,292$4,006,990$6,750,760
80$9,123,634$4,953,968$4,112,135$7,265,257
81$10,024,240$5,166,707$4,219,887$7,826,446
82$11,015,762$5,388,926$4,330,303$8,438,886
83$12,107,445$5,621,058$4,443,443$9,107,593
84$13,309,473$5,863,559$4,559,368$9,838,087
85$14,633,072$6,116,906$4,678,139$10,636,443
86$16,090,607$6,381,596$4,799,819$11,509,346
87$17,695,707$6,658,153$4,924,471$12,464,155
88$19,463,389$6,947,122$5,052,160$13,508,969
89$21,410,200$7,249,077$5,182,953$14,652,706
90$23,554,375$7,564,616$5,316,917$15,905,180
91$25,916,006$7,894,367$5,454,118$17,277,197
92$28,517,235$8,238,986$5,594,627$18,780,655
93$31,382,459$8,599,163$5,738,513$20,428,654
94$34,538,565$8,975,618$5,885,849$22,235,616
95$38,015,180$9,369,103$6,036,705$24,217,424
96$41,844,950$9,780,411$6,191,157$26,391,567
97$46,063,851$10,210,368$6,349,277$28,777,305
98$50,711,528$10,659,840$6,511,142$31,395,849
99$55,831,667$11,129,735$6,676,828$34,270,557
100$61,472,408$11,621,003$6,846,413$37,427,155