Can I retire at age 69 with 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 $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%15.7%
1 years$80,927$80,207$79,503$78,817$78,147$76,319
2 years$40,063$39,317$38,594$37,893$37,213$35,382
3 years$26,443$25,694$24,973$24,278$23,609$21,833
4 years$19,635$18,888$18,174$17,491$16,838$15,129
5 years$15,551$14,808$14,104$13,435$12,800$11,164
6 years$12,829$12,092$11,398$10,744$10,128$8,566
7 years$10,886$10,155$9,472$8,833$8,237$6,749
8 years$9,429$8,705$8,033$7,410$6,833$5,419
9 years$8,296$7,579$6,919$6,312$5,755$4,413
10 years$7,391$6,680$6,032$5,441$4,903$3,632
11 years$6,650$5,947$5,310$4,735$4,217$3,015
12 years$6,034$5,338$4,713$4,153$3,654$2,520
13 years$5,513$4,824$4,211$3,667$3,187$2,118
14 years$5,066$4,385$3,783$3,255$2,793$1,788
15 years$4,680$4,006$3,416$2,903$2,460$1,514
16 years$4,342$3,675$3,097$2,599$2,174$1,287
17 years$4,044$3,385$2,818$2,335$1,927$1,096
18 years$3,779$3,128$2,572$2,105$1,714$936
19 years$3,543$2,899$2,355$1,902$1,528$800
20 years$3,331$2,693$2,161$1,722$1,364$686
21 years$3,139$2,509$1,988$1,563$1,221$588
22 years$2,964$2,342$1,832$1,421$1,094$505
23 years$2,806$2,190$1,692$1,294$982$434
24 years$2,660$2,052$1,565$1,181$883$373
25 years$2,527$1,926$1,449$1,078$795$321
26 years$2,403$1,810$1,344$986$716$277
27 years$2,290$1,703$1,248$902$645$238
28 years$2,184$1,605$1,160$827$582$205
29 years$2,086$1,514$1,080$758$526$177
30 years$1,995$1,430$1,006$696$475$153
31 years$1,910$1,352$938$639$430$132
32 years$1,830$1,279$875$587$389$114
33 years$1,755$1,211$817$540$352$98
34 years$1,685$1,148$763$497$318$85
35 years$1,619$1,089$713$457$288$73
36 years$1,556$1,034$667$421$261$63
37 years$1,498$982$625$388$237$55
38 years$1,442$933$585$358$215$47
39 years$1,390$887$548$330$195$41
40 years$1,340$844$514$304$177$35
41 years$1,293$803$482$281$160$30
42 years$1,248$765$452$259$145$26
43 years$1,205$729$424$239$132$23
44 years$1,164$695$398$221$120$20
45 years$1,126$663$374$204$109$17
46 years$1,089$632$351$188$99$15
47 years$1,054$603$330$174$90$13
48 years$1,020$576$310$161$81$11
49 years$988$550$291$149$74$9
50 years$957$525$274$137$67$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 69 starting with $980,000, adding $6,315 every year, while hoping to spend $47,460 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: 40/40/20 Blend
68$980,000$980,000$980,000$980,000
69$1,086,474$1,034,534$1,019,344$1,123,269
70$1,146,797$1,034,729$1,002,995$1,150,388
71$1,211,683$1,033,343$984,507$1,174,693
72$1,281,546$1,030,248$963,760$1,200,012
73$1,356,843$1,025,310$940,625$1,226,462
74$1,438,074$1,018,383$914,969$1,254,177
75$1,525,790$1,009,316$886,653$1,283,305
76$1,620,596$997,948$855,531$1,314,017
77$1,723,156$984,106$821,451$1,346,502
78$1,834,200$967,610$784,252$1,380,972
79$1,954,533$948,267$743,769$1,417,667
80$2,085,036$925,874$699,826$1,456,855
81$2,226,682$900,214$652,243$1,498,836
82$2,380,539$871,059$600,828$1,543,945
83$2,547,781$838,168$545,382$1,592,559
84$2,729,701$801,285$485,699$1,645,096
85$2,927,722$760,139$421,561$1,702,026
86$3,143,407$714,444$352,742$1,763,872
87$3,378,480$663,897$279,004$1,831,216
88$3,634,836$608,179$200,101$1,904,710
89$3,914,560$546,950$115,775$1,985,077
90$4,219,948$479,854$25,757$2,073,124
91$4,553,528$406,512$0$2,169,749
92$4,918,083$326,526$0$2,290,954
93$5,316,674$239,473$0$2,429,687
94$5,752,677$144,909$0$2,581,744
95$6,229,802$42,362$0$2,748,565
96$6,752,141$0$0$2,931,744
97$7,324,196$0$0$3,163,267
98$7,950,926$0$0$3,437,475
99$8,637,791$0$0$3,738,125
100$9,390,806$0$0$4,067,868