Can I retire at age 69 with 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 $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%11.7%
1 years$80,927$80,207$79,503$78,817$78,147$77,589
2 years$40,063$39,317$38,594$37,893$37,213$36,650
3 years$26,443$25,694$24,973$24,278$23,609$23,060
4 years$19,635$18,888$18,174$17,491$16,838$16,306
5 years$15,551$14,808$14,104$13,435$12,800$12,286
6 years$12,829$12,092$11,398$10,744$10,128$9,634
7 years$10,886$10,155$9,472$8,833$8,237$7,762
8 years$9,429$8,705$8,033$7,410$6,833$6,378
9 years$8,296$7,579$6,919$6,312$5,755$5,318
10 years$7,391$6,680$6,032$5,441$4,903$4,486
11 years$6,650$5,947$5,310$4,735$4,217$3,818
12 years$6,034$5,338$4,713$4,153$3,654$3,274
13 years$5,513$4,824$4,211$3,667$3,187$2,825
14 years$5,066$4,385$3,783$3,255$2,793$2,449
15 years$4,680$4,006$3,416$2,903$2,460$2,132
16 years$4,342$3,675$3,097$2,599$2,174$1,863
17 years$4,044$3,385$2,818$2,335$1,927$1,633
18 years$3,779$3,128$2,572$2,105$1,714$1,435
19 years$3,543$2,899$2,355$1,902$1,528$1,263
20 years$3,331$2,693$2,161$1,722$1,364$1,115
21 years$3,139$2,509$1,988$1,563$1,221$985
22 years$2,964$2,342$1,832$1,421$1,094$872
23 years$2,806$2,190$1,692$1,294$982$773
24 years$2,660$2,052$1,565$1,181$883$686
25 years$2,527$1,926$1,449$1,078$795$609
26 years$2,403$1,810$1,344$986$716$542
27 years$2,290$1,703$1,248$902$645$482
28 years$2,184$1,605$1,160$827$582$429
29 years$2,086$1,514$1,080$758$526$382
30 years$1,995$1,430$1,006$696$475$341
31 years$1,910$1,352$938$639$430$304
32 years$1,830$1,279$875$587$389$271
33 years$1,755$1,211$817$540$352$242
34 years$1,685$1,148$763$497$318$216
35 years$1,619$1,089$713$457$288$193
36 years$1,556$1,034$667$421$261$172
37 years$1,498$982$625$388$237$154
38 years$1,442$933$585$358$215$138
39 years$1,390$887$548$330$195$123
40 years$1,340$844$514$304$177$110
41 years$1,293$803$482$281$160$98
42 years$1,248$765$452$259$145$88
43 years$1,205$729$424$239$132$79
44 years$1,164$695$398$221$120$70
45 years$1,126$663$374$204$109$63
46 years$1,089$632$351$188$99$56
47 years$1,054$603$330$174$90$50
48 years$1,020$576$310$161$81$45
49 years$988$550$291$149$74$40
50 years$957$525$274$137$67$36

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 69 starting with $980,000, adding $6,966 every year, while hoping to spend $58,537 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: 47/24/29 Blend
68$980,000$980,000$980,000$980,000
69$1,087,145$1,035,205$1,020,015$1,128,915
70$1,135,751$1,023,648$991,903$1,147,576
71$1,187,353$1,009,561$960,887$1,161,597
72$1,242,195$992,761$926,808$1,175,698
73$1,300,543$973,051$889,500$1,189,920
74$1,362,689$950,221$848,789$1,204,308
75$1,428,953$924,052$804,493$1,218,918
76$1,499,685$894,309$756,423$1,233,817
77$1,575,268$860,746$704,378$1,249,080
78$1,656,123$823,100$648,153$1,264,798
79$1,742,711$781,096$587,530$1,281,075
80$1,835,538$734,439$522,282$1,298,032
81$1,935,157$682,821$452,173$1,315,807
82$2,042,179$625,915$376,956$1,334,558
83$2,157,269$563,373$296,373$1,354,469
84$2,281,163$494,831$210,154$1,375,745
85$2,414,666$419,902$118,018$1,398,622
86$2,558,662$338,176$19,671$1,423,369
87$2,714,122$249,224$0$1,450,289
88$2,882,116$152,590$0$1,506,112
89$3,063,817$47,791$0$1,573,048
90$3,260,514$0$0$1,645,544
91$3,473,626$0$0$1,741,543
92$3,704,713$0$0$1,859,418
93$3,955,489$0$0$1,987,434
94$4,227,841$0$0$2,126,566
95$4,523,842$0$0$2,277,886
96$4,845,776$0$0$2,442,575
97$5,196,152$0$0$2,621,930
98$5,577,735$0$0$2,817,382
99$5,993,563$0$0$3,030,503
100$6,446,984$0$0$3,263,022