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%18.5%
1 years$80,102$79,388$78,692$78,013$77,349$74,694
2 years$39,654$38,916$38,200$37,506$36,833$34,185
3 years$26,174$25,432$24,718$24,030$23,368$20,811
4 years$19,435$18,695$17,988$17,313$16,666$14,219
5 years$15,392$14,657$13,960$13,298$12,670$10,338
6 years$12,698$11,969$11,282$10,634$10,025$7,812
7 years$10,775$10,051$9,375$8,743$8,153$6,058
8 years$9,333$8,616$7,951$7,334$6,764$4,784
9 years$8,212$7,502$6,848$6,247$5,696$3,830
10 years$7,315$6,612$5,970$5,385$4,853$3,098
11 years$6,583$5,887$5,256$4,687$4,174$2,526
12 years$5,972$5,283$4,665$4,111$3,617$2,073
13 years$5,456$4,775$4,168$3,629$3,154$1,709
14 years$5,015$4,340$3,745$3,222$2,765$1,415
15 years$4,632$3,965$3,381$2,873$2,434$1,175
16 years$4,297$3,638$3,065$2,573$2,152$979
17 years$4,003$3,350$2,789$2,311$1,908$817
18 years$3,741$3,096$2,546$2,083$1,696$683
19 years$3,507$2,869$2,331$1,882$1,512$572
20 years$3,297$2,666$2,139$1,705$1,350$480
21 years$3,107$2,483$1,968$1,547$1,209$403
22 years$2,934$2,318$1,814$1,407$1,083$338
23 years$2,777$2,168$1,674$1,281$972$284
24 years$2,633$2,031$1,549$1,168$874$239
25 years$2,501$1,906$1,434$1,067$786$201
26 years$2,379$1,792$1,330$976$708$169
27 years$2,266$1,686$1,235$893$639$143
28 years$2,162$1,589$1,148$818$576$120
29 years$2,065$1,499$1,069$750$520$101
30 years$1,975$1,415$995$689$470$85
31 years$1,890$1,338$928$632$425$72
32 years$1,811$1,266$866$581$385$61
33 years$1,737$1,199$808$535$348$51
34 years$1,668$1,136$755$492$315$43
35 years$1,602$1,078$706$453$285$36
36 years$1,541$1,023$661$417$259$31
37 years$1,482$972$618$384$234$26
38 years$1,427$923$579$354$212$22
39 years$1,375$878$542$326$193$18
40 years$1,326$835$508$301$175$16
41 years$1,279$795$477$278$159$13
42 years$1,235$757$447$256$144$11
43 years$1,193$722$420$237$131$9
44 years$1,152$688$394$219$119$8
45 years$1,114$656$370$202$108$7
46 years$1,078$626$347$186$98$6
47 years$1,043$597$326$172$89$5
48 years$1,009$570$307$159$81$4
49 years$978$544$288$147$73$3
50 years$947$520$271$136$66$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 69 starting with $970,000, adding $2,006 every year, while hoping to spend $33,193 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: 85/5/10 Blend
68$970,000$970,000$970,000$970,000
69$1,071,009$1,019,599$1,004,564$1,160,323
70$1,144,935$1,034,242$1,002,900$1,233,623
71$1,225,289$1,048,491$1,000,068$1,309,448
72$1,312,691$1,062,290$995,993$1,391,727
73$1,407,825$1,075,581$990,598$1,481,087
74$1,511,441$1,088,303$983,801$1,578,223
75$1,624,367$1,100,388$975,517$1,683,895
76$1,747,512$1,111,767$965,657$1,798,942
77$1,881,878$1,122,363$954,126$1,924,291
78$2,028,567$1,132,097$940,827$2,060,959
79$2,188,793$1,140,881$925,656$2,210,067
80$2,363,891$1,148,625$908,506$2,372,851
81$2,555,332$1,155,232$889,265$2,550,672
82$2,764,735$1,160,598$867,815$2,745,029
83$2,993,883$1,164,612$844,032$2,957,574
84$3,244,739$1,167,158$817,787$3,190,126
85$3,519,465$1,168,112$788,946$3,444,690
86$3,820,442$1,167,341$757,367$3,723,475
87$4,150,291$1,164,704$722,903$4,028,913
88$4,511,900$1,160,054$685,399$4,363,687
89$4,908,449$1,153,232$644,695$4,730,749
90$5,343,440$1,144,070$600,622$5,133,356
91$5,820,732$1,132,390$553,004$5,575,092
92$6,344,574$1,118,005$501,657$6,059,911
93$6,919,647$1,100,713$446,389$6,592,166
94$7,551,106$1,080,304$386,998$7,176,657
95$8,244,633$1,056,553$323,277$7,818,668
96$9,006,484$1,029,222$255,005$8,524,028
97$9,843,553$998,061$181,955$9,299,156
98$10,763,432$962,803$103,887$10,151,127
99$11,774,487$923,165$20,552$11,087,736
100$12,885,935$878,851$0$12,117,575