Can I retire at age 69 with 2,930,000?

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 $2,930,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.4%
1 years$241,957$239,801$237,699$235,646$233,642$226,617
2 years$119,781$117,550$115,388$113,292$111,258$104,240
3 years$79,060$76,820$74,664$72,587$70,587$63,795
4 years$58,704$56,471$54,336$52,295$50,343$43,830
5 years$46,494$44,274$42,167$40,167$38,270$32,053
6 years$38,356$36,153$34,077$32,122$30,282$24,367
7 years$32,546$30,361$28,318$26,409$24,627$19,014
8 years$28,190$26,025$24,016$22,154$20,431$15,116
9 years$24,804$22,660$20,685$18,870$17,206$12,183
10 years$22,097$19,973$18,034$16,267$14,660$9,923
11 years$19,884$17,781$15,877$14,157$12,608$8,148
12 years$18,040$15,959$14,090$12,417$10,926$6,734
13 years$16,482$14,423$12,589$10,963$9,528$5,595
14 years$15,147$13,110$11,311$9,731$8,352$4,667
15 years$13,991$11,976$10,212$8,679$7,354$3,907
16 years$12,981$10,988$9,259$7,771$6,499$3,280
17 years$12,091$10,119$8,425$6,982$5,763$2,760
18 years$11,300$9,351$7,691$6,292$5,124$2,327
19 years$10,593$8,666$7,041$5,686$4,567$1,965
20 years$9,958$8,053$6,462$5,149$4,079$1,661
21 years$9,384$7,501$5,944$4,673$3,651$1,406
22 years$8,863$7,002$5,478$4,249$3,272$1,191
23 years$8,388$6,549$5,058$3,870$2,937$1,010
24 years$7,953$6,136$4,678$3,530$2,640$857
25 years$7,554$5,758$4,332$3,223$2,376$728
26 years$7,186$5,412$4,018$2,947$2,140$618
27 years$6,846$5,093$3,731$2,698$1,929$525
28 years$6,530$4,799$3,469$2,472$1,741$447
29 years$6,237$4,527$3,228$2,267$1,572$380
30 years$5,964$4,276$3,007$2,080$1,420$323
31 years$5,709$4,042$2,803$1,910$1,284$275
32 years$5,471$3,824$2,615$1,756$1,162$234
33 years$5,247$3,622$2,442$1,615$1,051$199
34 years$5,037$3,433$2,282$1,486$952$169
35 years$4,840$3,256$2,133$1,368$862$144
36 years$4,654$3,090$1,995$1,259$781$123
37 years$4,478$2,935$1,868$1,160$708$105
38 years$4,312$2,789$1,749$1,070$642$89
39 years$4,155$2,652$1,639$986$582$76
40 years$4,006$2,524$1,536$910$528$65
41 years$3,865$2,402$1,440$839$479$55
42 years$3,730$2,288$1,351$775$435$47
43 years$3,603$2,180$1,268$715$394$40
44 years$3,481$2,078$1,190$660$358$34
45 years$3,366$1,981$1,117$610$325$29
46 years$3,255$1,890$1,049$563$295$25
47 years$3,150$1,804$986$520$268$21
48 years$3,049$1,722$926$481$243$18
49 years$2,953$1,644$871$444$221$15
50 years$2,861$1,571$819$411$201$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 69 starting with $2,930,000, adding $3,005 every year, while hoping to spend $31,945 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: 70/14/16 Blend
68$2,930,000$2,930,000$2,930,000$2,930,000
69$3,231,960$3,076,670$3,031,255$3,445,962
70$3,527,630$3,193,437$3,098,812$3,705,464
71$3,852,389$3,314,856$3,167,563$3,985,272
72$4,209,168$3,441,119$3,237,512$4,290,694
73$4,601,200$3,572,431$3,308,665$4,624,253
74$5,032,044$3,709,001$3,381,027$4,988,727
75$5,505,621$3,851,052$3,454,601$5,387,174
76$6,026,254$3,998,813$3,529,389$5,822,961
77$6,598,701$4,152,524$3,605,393$6,299,797
78$7,228,208$4,312,437$3,682,613$6,821,764
79$7,920,553$4,478,813$3,761,048$7,393,357
80$8,682,101$4,651,927$3,840,694$8,019,527
81$9,519,867$4,832,063$3,921,549$8,705,727
82$10,441,579$5,019,520$4,003,607$9,457,961
83$11,455,752$5,214,609$4,086,860$10,282,842
84$12,571,769$5,417,655$4,171,300$11,187,653
85$13,799,967$5,628,997$4,256,916$12,180,418
86$15,151,736$5,848,990$4,343,695$13,269,973
87$16,639,627$6,078,005$4,431,623$14,466,052
88$18,277,469$6,316,427$4,520,682$15,779,377
89$20,080,499$6,564,660$4,610,853$17,221,757
90$22,065,509$6,823,127$4,702,116$18,806,205
91$24,250,998$7,092,269$4,794,444$20,547,051
92$26,657,355$7,372,544$4,887,813$22,460,087
93$29,307,041$7,664,435$4,982,190$24,562,705
94$32,224,810$7,968,443$5,077,545$26,874,070
95$35,437,938$8,285,094$5,173,840$29,415,292
96$38,976,480$8,614,936$5,271,036$32,209,631
97$42,873,556$8,958,543$5,369,090$35,282,712
98$47,165,659$9,316,512$5,467,956$38,662,767
99$51,893,006$9,689,471$5,567,582$42,380,902
100$57,099,910$10,078,073$5,667,913$46,471,389