Can I retire at age 69 with 970,000?

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 $970,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.6%
1 years$80,102$79,388$78,692$78,013$77,349$74,963
2 years$39,654$38,916$38,200$37,506$36,833$34,450
3 years$26,174$25,432$24,718$24,030$23,368$21,063
4 years$19,435$18,695$17,988$17,313$16,666$14,457
5 years$15,392$14,657$13,960$13,298$12,670$10,561
6 years$12,698$11,969$11,282$10,634$10,025$8,020
7 years$10,775$10,051$9,375$8,743$8,153$6,251
8 years$9,333$8,616$7,951$7,334$6,764$4,963
9 years$8,212$7,502$6,848$6,247$5,696$3,996
10 years$7,315$6,612$5,970$5,385$4,853$3,250
11 years$6,583$5,887$5,256$4,687$4,174$2,666
12 years$5,972$5,283$4,665$4,111$3,617$2,200
13 years$5,456$4,775$4,168$3,629$3,154$1,825
14 years$5,015$4,340$3,745$3,222$2,765$1,521
15 years$4,632$3,965$3,381$2,873$2,434$1,271
16 years$4,297$3,638$3,065$2,573$2,152$1,066
17 years$4,003$3,350$2,789$2,311$1,908$895
18 years$3,741$3,096$2,546$2,083$1,696$754
19 years$3,507$2,869$2,331$1,882$1,512$635
20 years$3,297$2,666$2,139$1,705$1,350$536
21 years$3,107$2,483$1,968$1,547$1,209$453
22 years$2,934$2,318$1,814$1,407$1,083$384
23 years$2,777$2,168$1,674$1,281$972$325
24 years$2,633$2,031$1,549$1,168$874$275
25 years$2,501$1,906$1,434$1,067$786$233
26 years$2,379$1,792$1,330$976$708$198
27 years$2,266$1,686$1,235$893$639$168
28 years$2,162$1,589$1,148$818$576$142
29 years$2,065$1,499$1,069$750$520$121
30 years$1,975$1,415$995$689$470$103
31 years$1,890$1,338$928$632$425$87
32 years$1,811$1,266$866$581$385$74
33 years$1,737$1,199$808$535$348$63
34 years$1,668$1,136$755$492$315$53
35 years$1,602$1,078$706$453$285$45
36 years$1,541$1,023$661$417$259$39
37 years$1,482$972$618$384$234$33
38 years$1,427$923$579$354$212$28
39 years$1,375$878$542$326$193$24
40 years$1,326$835$508$301$175$20
41 years$1,279$795$477$278$159$17
42 years$1,235$757$447$256$144$15
43 years$1,193$722$420$237$131$12
44 years$1,152$688$394$219$119$11
45 years$1,114$656$370$202$108$9
46 years$1,078$626$347$186$98$8
47 years$1,043$597$326$172$89$6
48 years$1,009$570$307$159$81$6
49 years$978$544$288$147$73$5
50 years$947$520$271$136$66$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 69 starting with $970,000, adding $2,813 every year, while hoping to spend $48,168 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: 49/29/22 Blend
68$970,000$970,000$970,000$970,000
69$1,071,842$1,020,432$1,005,397$1,117,588
70$1,129,919$1,019,182$987,827$1,148,449
71$1,192,306$1,016,258$968,054$1,176,867
72$1,259,391$1,011,524$945,954$1,206,746
73$1,331,601$1,004,841$921,396$1,238,244
74$1,409,405$996,059$894,243$1,271,538
75$1,493,318$985,019$864,353$1,306,825
76$1,583,904$971,552$831,577$1,344,325
77$1,681,785$955,481$795,758$1,384,285
78$1,787,644$936,617$756,733$1,426,979
79$1,902,232$914,760$714,332$1,472,712
80$2,026,374$889,697$668,376$1,521,826
81$2,160,977$861,205$618,679$1,574,699
82$2,307,039$829,046$565,047$1,631,755
83$2,465,656$792,969$507,276$1,693,462
84$2,638,037$752,708$445,153$1,760,345
85$2,825,508$707,982$378,457$1,832,983
86$3,029,531$658,494$306,957$1,912,023
87$3,251,712$603,930$230,409$1,998,183
88$3,493,821$543,956$148,561$2,092,258
89$3,757,803$478,223$61,151$2,195,134
90$4,045,801$406,358$0$2,307,791
91$4,360,174$327,970$0$2,438,862
92$4,703,516$242,645$0$2,597,821
93$5,078,684$149,945$0$2,771,706
94$5,488,826$49,408$0$2,962,077
95$5,937,403$0$0$3,170,653
96$6,428,230$0$0$3,418,311
97$6,965,506$0$0$3,706,766
98$7,553,853$0$0$4,022,746
99$8,198,366$0$0$4,369,000
100$8,904,650$0$0$4,748,553