Can I retire at age 69 with 977,000?

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 $977,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.6%
1 years$80,680$79,961$79,260$78,576$77,907$74,905
2 years$39,940$39,197$38,476$37,777$37,099$34,110
3 years$26,362$25,615$24,896$24,204$23,537$20,655
4 years$19,575$18,830$18,118$17,438$16,787$14,035
5 years$15,503$14,763$14,060$13,394$12,761$10,145
6 years$12,790$12,055$11,363$10,711$10,097$7,620
7 years$10,852$10,124$9,443$8,806$8,212$5,872
8 years$9,400$8,678$8,008$7,387$6,813$4,607
9 years$8,271$7,556$6,897$6,292$5,737$3,664
10 years$7,368$6,660$6,013$5,424$4,888$2,943
11 years$6,630$5,929$5,294$4,721$4,204$2,383
12 years$6,015$5,322$4,698$4,141$3,643$1,940
13 years$5,496$4,809$4,198$3,655$3,177$1,588
14 years$5,051$4,371$3,772$3,245$2,785$1,305
15 years$4,665$3,993$3,405$2,894$2,452$1,075
16 years$4,328$3,664$3,087$2,591$2,167$888
17 years$4,032$3,374$2,809$2,328$1,922$735
18 years$3,768$3,118$2,565$2,098$1,709$610
19 years$3,532$2,890$2,348$1,896$1,523$507
20 years$3,321$2,685$2,155$1,717$1,360$421
21 years$3,129$2,501$1,982$1,558$1,217$350
22 years$2,955$2,335$1,827$1,417$1,091$292
23 years$2,797$2,184$1,687$1,290$979$243
24 years$2,652$2,046$1,560$1,177$880$203
25 years$2,519$1,920$1,445$1,075$792$169
26 years$2,396$1,805$1,340$983$714$141
27 years$2,283$1,698$1,244$900$643$118
28 years$2,178$1,600$1,157$824$580$98
29 years$2,080$1,510$1,076$756$524$82
30 years$1,989$1,426$1,003$694$474$69
31 years$1,904$1,348$935$637$428$57
32 years$1,824$1,275$872$585$387$48
33 years$1,750$1,208$814$538$351$40
34 years$1,680$1,145$761$495$317$33
35 years$1,614$1,086$711$456$287$28
36 years$1,552$1,030$665$420$260$23
37 years$1,493$979$623$387$236$20
38 years$1,438$930$583$357$214$16
39 years$1,385$884$546$329$194$14
40 years$1,336$841$512$303$176$11
41 years$1,289$801$480$280$160$10
42 years$1,244$763$450$258$145$8
43 years$1,201$727$423$238$132$7
44 years$1,161$693$397$220$119$6
45 years$1,122$661$373$203$108$5
46 years$1,085$630$350$188$98$4
47 years$1,050$601$329$173$89$3
48 years$1,017$574$309$160$81$3
49 years$985$548$290$148$74$2
50 years$954$524$273$137$67$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 69 starting with $977,000, adding $6,624 every year, while hoping to spend $47,929 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: 68/21/11 Blend
68$977,000$977,000$977,000$977,000
69$1,083,487$1,031,706$1,016,562$1,154,194
70$1,143,006$1,031,263$999,621$1,201,592
71$1,206,990$1,029,193$980,506$1,247,044
72$1,275,844$1,025,364$959,093$1,295,500
73$1,350,011$1,019,638$935,254$1,347,249
74$1,429,981$1,011,868$908,854$1,402,609
75$1,516,289$1,001,900$879,750$1,461,932
76$1,609,524$989,567$847,796$1,525,605
77$1,710,335$974,695$812,836$1,594,060
78$1,819,432$957,098$774,709$1,667,768
79$1,937,599$936,580$733,246$1,747,256
80$2,065,695$912,934$688,271$1,833,100
81$2,204,666$885,938$639,599$1,925,942
82$2,355,553$855,360$587,036$2,026,487
83$2,519,500$820,953$530,382$2,135,516
84$2,697,765$782,455$469,426$2,253,891
85$2,891,733$739,592$403,948$2,382,564
86$3,102,928$692,071$333,719$2,522,586
87$3,333,027$639,582$258,498$2,675,118
88$3,583,874$581,800$178,037$2,841,444
89$3,857,501$518,379$92,072$3,022,978
90$4,156,141$448,955$332$3,221,286
91$4,482,256$373,142$0$3,438,093
92$4,838,553$290,533$0$3,686,757
93$5,228,014$200,699$0$3,958,718
94$5,653,923$103,184$0$4,256,296
95$6,119,892$0$0$4,582,093
96$6,629,903$0$0$4,939,556
97$7,188,336$0$0$5,357,122
98$7,800,019$0$0$5,814,562
99$8,470,265$0$0$6,315,859
100$9,204,927$0$0$6,865,396