Can I retire at age 69 with 988,000?

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 $988,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13%
1 years$81,588$80,861$80,152$79,460$78,785$77,800
2 years$40,390$39,638$38,909$38,202$37,516$36,526
3 years$26,659$25,904$25,177$24,476$23,802$22,836
4 years$19,795$19,042$18,322$17,634$16,976$16,042
5 years$15,678$14,929$14,219$13,545$12,905$12,006
6 years$12,934$12,191$11,491$10,832$10,211$9,348
7 years$10,975$10,238$9,549$8,905$8,304$7,477
8 years$9,506$8,776$8,098$7,470$6,889$6,098
9 years$8,364$7,641$6,975$6,363$5,802$5,047
10 years$7,451$6,735$6,081$5,485$4,943$4,224
11 years$6,705$5,996$5,354$4,774$4,251$3,566
12 years$6,083$5,382$4,751$4,187$3,684$3,033
13 years$5,558$4,863$4,245$3,697$3,213$2,595
14 years$5,108$4,421$3,814$3,281$2,816$2,230
15 years$4,718$4,038$3,444$2,926$2,480$1,925
16 years$4,377$3,705$3,122$2,620$2,192$1,667
17 years$4,077$3,412$2,841$2,354$1,943$1,448
18 years$3,810$3,153$2,593$2,122$1,728$1,260
19 years$3,572$2,922$2,374$1,917$1,540$1,100
20 years$3,358$2,715$2,179$1,736$1,376$961
21 years$3,164$2,529$2,004$1,576$1,231$841
22 years$2,989$2,361$1,847$1,433$1,103$738
23 years$2,829$2,208$1,706$1,305$990$647
24 years$2,682$2,069$1,577$1,190$890$569
25 years$2,547$1,942$1,461$1,087$801$500
26 years$2,423$1,825$1,355$994$722$440
27 years$2,308$1,717$1,258$910$651$387
28 years$2,202$1,618$1,170$833$587$341
29 years$2,103$1,527$1,088$764$530$301
30 years$2,011$1,442$1,014$701$479$265
31 years$1,925$1,363$945$644$433$234
32 years$1,845$1,290$882$592$392$207
33 years$1,769$1,221$823$544$354$182
34 years$1,699$1,158$769$501$321$161
35 years$1,632$1,098$719$461$291$142
36 years$1,569$1,042$673$425$263$126
37 years$1,510$990$630$391$239$111
38 years$1,454$941$590$361$216$98
39 years$1,401$894$553$333$196$87
40 years$1,351$851$518$307$178$77
41 years$1,303$810$486$283$161$68
42 years$1,258$771$456$261$147$60
43 years$1,215$735$427$241$133$53
44 years$1,174$701$401$223$121$47
45 years$1,135$668$377$206$110$42
46 years$1,098$637$354$190$100$37
47 years$1,062$608$332$175$90$32
48 years$1,028$581$312$162$82$29
49 years$996$554$294$150$75$25
50 years$965$530$276$138$68$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 69 starting with $988,000, adding $2,069 every year, while hoping to spend $20,199 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: 58/12/30 Blend
68$988,000$988,000$988,000$988,000
69$1,090,910$1,038,546$1,023,232$1,145,091
70$1,180,691$1,067,943$1,036,019$1,211,915
71$1,278,953$1,098,104$1,048,557$1,282,455
72$1,386,540$1,129,044$1,060,817$1,358,968
73$1,504,380$1,160,780$1,072,767$1,442,041
74$1,633,496$1,193,328$1,084,374$1,532,319
75$1,775,016$1,226,705$1,095,604$1,630,514
76$1,930,181$1,260,926$1,106,420$1,737,409
77$2,100,357$1,296,009$1,116,783$1,853,869
78$2,287,049$1,331,970$1,126,651$1,980,845
79$2,491,917$1,368,825$1,135,983$2,119,386
80$2,716,786$1,406,591$1,144,732$2,270,647
81$2,963,669$1,445,285$1,152,851$2,435,902
82$3,234,782$1,484,922$1,160,290$2,616,554
83$3,532,566$1,525,519$1,166,995$2,814,149
84$3,859,710$1,567,093$1,172,913$3,030,391
85$4,219,178$1,609,658$1,177,983$3,267,157
86$4,614,235$1,653,231$1,182,146$3,526,518
87$5,048,474$1,697,827$1,185,335$3,810,753
88$5,525,860$1,743,462$1,187,485$4,122,376
89$6,050,755$1,790,149$1,188,524$4,464,156
90$6,627,970$1,837,904$1,188,377$4,839,146
91$7,262,801$1,886,740$1,186,966$5,250,709
92$7,961,087$1,936,671$1,184,209$5,702,554
93$8,729,259$1,987,708$1,180,021$6,198,765
94$9,574,403$2,039,865$1,174,311$6,743,846
95$10,504,326$2,093,153$1,166,985$7,342,759
96$11,527,631$2,147,582$1,157,943$8,000,973
97$12,653,798$2,203,161$1,147,082$8,724,516
98$13,893,269$2,259,900$1,134,293$9,520,031
99$15,257,553$2,317,805$1,119,462$10,394,839
100$16,759,330$2,376,884$1,102,471$11,357,008