Can I retire at age 69 with 988,000?

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 $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%13.2%
1 years$81,588$80,861$80,152$79,460$78,785$77,736
2 years$40,390$39,638$38,909$38,202$37,516$36,461
3 years$26,659$25,904$25,177$24,476$23,802$22,773
4 years$19,795$19,042$18,322$17,634$16,976$15,982
5 years$15,678$14,929$14,219$13,545$12,905$11,948
6 years$12,934$12,191$11,491$10,832$10,211$9,293
7 years$10,975$10,238$9,549$8,905$8,304$7,425
8 years$9,506$8,776$8,098$7,470$6,889$6,049
9 years$8,364$7,641$6,975$6,363$5,802$5,000
10 years$7,451$6,735$6,081$5,485$4,943$4,179
11 years$6,705$5,996$5,354$4,774$4,251$3,525
12 years$6,083$5,382$4,751$4,187$3,684$2,994
13 years$5,558$4,863$4,245$3,697$3,213$2,558
14 years$5,108$4,421$3,814$3,281$2,816$2,196
15 years$4,718$4,038$3,444$2,926$2,480$1,892
16 years$4,377$3,705$3,122$2,620$2,192$1,637
17 years$4,077$3,412$2,841$2,354$1,943$1,419
18 years$3,810$3,153$2,593$2,122$1,728$1,234
19 years$3,572$2,922$2,374$1,917$1,540$1,075
20 years$3,358$2,715$2,179$1,736$1,376$938
21 years$3,164$2,529$2,004$1,576$1,231$820
22 years$2,989$2,361$1,847$1,433$1,103$718
23 years$2,829$2,208$1,706$1,305$990$629
24 years$2,682$2,069$1,577$1,190$890$552
25 years$2,547$1,942$1,461$1,087$801$484
26 years$2,423$1,825$1,355$994$722$425
27 years$2,308$1,717$1,258$910$651$374
28 years$2,202$1,618$1,170$833$587$329
29 years$2,103$1,527$1,088$764$530$290
30 years$2,011$1,442$1,014$701$479$255
31 years$1,925$1,363$945$644$433$225
32 years$1,845$1,290$882$592$392$198
33 years$1,769$1,221$823$544$354$174
34 years$1,699$1,158$769$501$321$154
35 years$1,632$1,098$719$461$291$136
36 years$1,569$1,042$673$425$263$120
37 years$1,510$990$630$391$239$106
38 years$1,454$941$590$361$216$93
39 years$1,401$894$553$333$196$82
40 years$1,351$851$518$307$178$73
41 years$1,303$810$486$283$161$64
42 years$1,258$771$456$261$147$56
43 years$1,215$735$427$241$133$50
44 years$1,174$701$401$223$121$44
45 years$1,135$668$377$206$110$39
46 years$1,098$637$354$190$100$34
47 years$1,062$608$332$175$90$30
48 years$1,028$581$312$162$82$27
49 years$996$554$294$150$75$24
50 years$965$530$276$138$68$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 69 starting with $988,000, adding $5,973 every year, while hoping to spend $49,898 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: 79/13/8 Blend
68$988,000$988,000$988,000$988,000
69$1,094,937$1,042,573$1,027,259$1,179,788
70$1,153,530$1,040,568$1,008,581$1,234,290
71$1,216,426$1,036,793$987,605$1,286,947
72$1,284,013$1,031,107$964,202$1,343,231
73$1,356,715$1,023,363$938,234$1,403,480
74$1,434,996$1,013,405$909,562$1,468,067
75$1,519,369$1,001,065$878,036$1,537,400
76$1,610,395$986,168$843,500$1,611,934
77$1,708,692$968,526$805,794$1,692,166
78$1,814,937$947,942$764,746$1,778,646
79$1,929,875$924,206$720,180$1,871,980
80$2,054,327$897,096$671,910$1,972,835
81$2,189,192$866,378$619,743$2,081,948
82$2,335,460$831,801$563,476$2,200,130
83$2,494,222$793,105$502,897$2,328,277
84$2,666,675$750,009$437,786$2,467,375
85$2,854,136$702,220$367,912$2,618,512
86$3,058,056$649,426$293,035$2,782,888
87$3,280,028$591,298$212,902$2,961,827
88$3,521,808$527,489$127,251$3,156,786
89$3,785,327$457,631$35,809$3,369,376
90$4,072,710$381,334$0$3,601,368
91$4,386,296$298,190$0$3,859,994
92$4,728,661$207,763$0$4,145,740
93$5,102,638$109,597$0$4,457,953
94$5,511,348$3,209$0$4,799,284
95$5,958,226$0$0$5,172,652
96$6,447,054$0$0$5,597,287
97$6,981,997$0$0$6,062,513
98$7,567,640$0$0$6,571,862
99$8,209,034$0$0$7,129,731
100$8,911,739$0$0$7,740,959