Can I retire at age 69 with 1,060,000?

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 $1,060,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14%
1 years$87,534$86,754$85,993$85,251$84,526$83,126
2 years$43,334$42,527$41,744$40,986$40,250$38,844
3 years$28,602$27,792$27,011$26,260$25,537$24,167
4 years$21,238$20,430$19,657$18,919$18,213$16,892
5 years$16,820$16,017$15,255$14,532$13,845$12,576
6 years$13,876$13,079$12,328$11,621$10,955$9,739
7 years$11,774$10,984$10,245$9,554$8,909$7,747
8 years$10,199$9,415$8,688$8,015$7,391$6,282
9 years$8,974$8,198$7,483$6,827$6,225$5,168
10 years$7,994$7,226$6,524$5,885$5,304$4,299
11 years$7,193$6,433$5,744$5,122$4,561$3,607
12 years$6,526$5,774$5,097$4,492$3,953$3,048
13 years$5,963$5,218$4,554$3,966$3,447$2,590
14 years$5,480$4,743$4,092$3,521$3,021$2,212
15 years$5,062$4,333$3,695$3,140$2,660$1,896
16 years$4,696$3,975$3,350$2,811$2,351$1,631
17 years$4,374$3,661$3,048$2,526$2,085$1,406
18 years$4,088$3,383$2,782$2,276$1,854$1,215
19 years$3,832$3,135$2,547$2,057$1,652$1,053
20 years$3,603$2,913$2,338$1,863$1,476$913
21 years$3,395$2,714$2,150$1,691$1,321$793
22 years$3,206$2,533$1,982$1,537$1,184$690
23 years$3,035$2,369$1,830$1,400$1,063$601
24 years$2,877$2,220$1,692$1,277$955$524
25 years$2,733$2,083$1,567$1,166$859$457
26 years$2,600$1,958$1,454$1,066$774$399
27 years$2,477$1,843$1,350$976$698$349
28 years$2,363$1,736$1,255$894$630$305
29 years$2,256$1,638$1,168$820$569$266
30 years$2,158$1,547$1,088$753$514$233
31 years$2,065$1,462$1,014$691$465$204
32 years$1,979$1,384$946$635$420$178
33 years$1,898$1,310$883$584$380$156
34 years$1,822$1,242$825$537$344$137
35 years$1,751$1,178$772$495$312$120
36 years$1,684$1,118$722$456$283$105
37 years$1,620$1,062$676$420$256$92
38 years$1,560$1,009$633$387$232$81
39 years$1,503$960$593$357$211$71
40 years$1,449$913$556$329$191$62
41 years$1,398$869$521$304$173$54
42 years$1,350$828$489$280$157$48
43 years$1,303$789$459$259$143$42
44 years$1,259$752$430$239$130$37
45 years$1,218$717$404$221$118$32
46 years$1,178$684$380$204$107$28
47 years$1,140$653$357$188$97$25
48 years$1,103$623$335$174$88$22
49 years$1,068$595$315$161$80$19
50 years$1,035$568$296$149$73$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 69 starting with $1,060,000, adding $4,176 every year, while hoping to spend $54,469 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: 46/31/23 Blend
68$1,060,000$1,060,000$1,060,000$1,060,000
69$1,172,428$1,116,248$1,099,818$1,218,451
70$1,234,061$1,112,989$1,078,707$1,247,963
71$1,300,155$1,107,745$1,055,063$1,274,269
72$1,371,107$1,100,362$1,028,745$1,301,711
73$1,447,354$1,090,674$999,602$1,330,420
74$1,529,375$1,078,508$967,480$1,360,546
75$1,617,696$1,063,679$932,214$1,392,257
76$1,712,893$1,045,991$893,636$1,425,741
77$1,815,601$1,025,238$851,566$1,461,210
78$1,926,518$1,001,200$805,818$1,498,903
79$2,046,408$973,644$756,199$1,539,086
80$2,176,114$942,325$702,504$1,582,056
81$2,316,560$906,982$644,520$1,628,149
82$2,468,765$867,339$582,027$1,677,737
83$2,633,845$823,105$514,791$1,731,238
84$2,813,031$773,971$442,571$1,789,117
85$3,007,676$719,611$365,113$1,851,894
86$3,219,269$659,681$282,153$1,920,148
87$3,449,445$593,816$193,416$1,994,527
88$3,700,005$521,631$98,613$2,075,748
89$3,972,933$442,718$0$2,164,613
90$4,270,409$356,648$0$2,262,641
91$4,594,832$262,965$0$2,396,064
92$4,948,845$161,191$0$2,541,836
93$5,335,356$50,817$0$2,701,267
94$5,757,565$0$0$2,875,806
95$6,218,997$0$0$3,090,485
96$6,723,530$0$0$3,344,288
97$7,275,438$0$0$3,622,045
98$7,879,422$0$0$3,926,137
99$8,540,662$0$0$4,259,188
100$9,264,861$0$0$4,624,086