Can I retire at age 69 with 2,920,000?

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 $2,920,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.7%
1 years$241,131$238,983$236,887$234,842$232,845$230,222
2 years$119,372$117,149$114,994$112,905$110,879$108,238
3 years$78,791$76,558$74,409$72,339$70,346$67,769
4 years$58,504$56,278$54,150$52,116$50,171$47,679
5 years$46,335$44,123$42,023$40,030$38,139$35,739
6 years$38,225$36,030$33,961$32,013$30,178$27,872
7 years$32,435$30,258$28,222$26,319$24,543$22,332
8 years$28,094$25,936$23,934$22,079$20,361$18,245
9 years$24,720$22,582$20,614$18,806$17,147$15,126
10 years$22,022$19,905$17,972$16,211$14,610$12,682
11 years$19,816$17,720$15,822$14,108$12,565$10,728
12 years$17,979$15,905$14,042$12,375$10,889$9,141
13 years$16,425$14,373$12,546$10,925$9,495$7,835
14 years$15,095$13,065$11,272$9,698$8,323$6,748
15 years$13,944$11,935$10,177$8,649$7,329$5,836
16 years$12,937$10,950$9,227$7,744$6,477$5,065
17 years$12,049$10,085$8,396$6,958$5,743$4,408
18 years$11,261$9,319$7,665$6,271$5,106$3,846
19 years$10,557$8,637$7,017$5,666$4,551$3,363
20 years$9,924$8,025$6,440$5,132$4,065$2,945
21 years$9,352$7,475$5,923$4,657$3,638$2,584
22 years$8,833$6,978$5,459$4,235$3,261$2,270
23 years$8,360$6,526$5,041$3,857$2,927$1,997
24 years$7,926$6,115$4,662$3,517$2,631$1,758
25 years$7,528$5,738$4,318$3,212$2,368$1,550
26 years$7,161$5,393$4,004$2,937$2,133$1,367
27 years$6,822$5,076$3,718$2,688$1,923$1,207
28 years$6,508$4,783$3,457$2,463$1,735$1,066
29 years$6,216$4,512$3,217$2,259$1,567$942
30 years$5,944$4,261$2,996$2,073$1,416$833
31 years$5,690$4,028$2,793$1,904$1,280$736
32 years$5,452$3,811$2,606$1,750$1,158$652
33 years$5,229$3,609$2,434$1,609$1,048$577
34 years$5,020$3,421$2,274$1,480$949$511
35 years$4,823$3,245$2,126$1,363$859$452
36 years$4,638$3,080$1,989$1,255$778$400
37 years$4,463$2,925$1,861$1,156$706$355
38 years$4,297$2,780$1,743$1,066$640$314
39 years$4,140$2,643$1,633$983$580$279
40 years$3,992$2,515$1,531$907$526$247
41 years$3,851$2,394$1,435$836$477$219
42 years$3,718$2,280$1,346$772$433$194
43 years$3,590$2,172$1,263$713$393$172
44 years$3,469$2,071$1,186$658$357$153
45 years$3,354$1,975$1,113$608$324$135
46 years$3,244$1,884$1,046$561$294$120
47 years$3,139$1,798$983$519$267$106
48 years$3,039$1,716$923$479$243$94
49 years$2,943$1,639$868$443$220$84
50 years$2,851$1,565$816$409$200$74

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 69 starting with $2,920,000, adding $3,995 every year, while hoping to spend $59,574 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: 61/34/5 Blend
68$2,920,000$2,920,000$2,920,000$2,920,000
69$3,221,961$3,067,201$3,021,941$3,415,641
70$3,487,215$3,154,107$3,059,790$3,632,340
71$3,777,528$3,243,276$3,096,910$3,861,376
72$4,095,393$3,334,754$3,133,214$4,109,720
73$4,443,556$3,428,590$3,168,609$4,379,230
74$4,825,040$3,524,832$3,202,999$4,671,951
75$5,243,176$3,623,530$3,236,281$4,990,133
76$5,701,629$3,724,733$3,268,346$5,336,255
77$6,204,440$3,828,490$3,299,081$5,713,042
78$6,756,057$3,934,850$3,328,364$6,123,497
79$7,361,380$4,043,862$3,356,069$6,570,926
80$8,025,806$4,155,577$3,382,063$7,058,966
81$8,755,281$4,270,043$3,406,204$7,591,626
82$9,556,354$4,387,309$3,428,347$8,173,318
83$10,436,239$4,507,425$3,448,333$8,808,901
84$11,402,885$4,630,438$3,466,002$9,503,727
85$12,465,046$4,756,396$3,481,180$10,263,690
86$13,632,368$4,885,347$3,493,687$11,095,282
87$14,915,478$5,017,337$3,503,333$12,005,652
88$16,326,082$5,152,412$3,509,920$13,002,676
89$17,877,078$5,290,615$3,513,238$14,095,031
90$19,582,676$5,431,992$3,513,068$15,292,273
91$21,458,533$5,576,583$3,509,179$16,604,929
92$23,521,897$5,724,430$3,501,331$18,044,598
93$25,791,774$5,875,570$3,489,269$19,624,056
94$28,289,104$6,030,042$3,472,728$21,357,378
95$31,036,959$6,187,880$3,451,431$23,260,073
96$34,060,759$6,349,117$3,425,084$25,349,227
97$37,388,515$6,513,782$3,393,383$27,643,662
98$41,051,089$6,681,903$3,356,007$30,164,120
99$45,082,487$6,853,503$3,312,620$32,933,451
100$49,520,180$7,028,604$3,262,872$35,976,833