Can I retire at age 69 with 2,940,000?

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 $2,940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%20%
1 years$242,782$240,620$238,510$236,451$234,440$225,049
2 years$120,189$117,951$115,782$113,678$111,638$102,295
3 years$79,330$77,082$74,918$72,835$70,828$61,827
4 years$58,905$56,664$54,521$52,473$50,515$41,924
5 years$46,653$44,425$42,311$40,305$38,401$30,242
6 years$38,487$36,276$34,193$32,232$30,385$22,664
7 years$32,657$30,465$28,415$26,500$24,711$17,424
8 years$28,287$26,114$24,098$22,230$20,500$13,640
9 years$24,889$22,737$20,756$18,935$17,264$10,820
10 years$22,172$20,041$18,095$16,322$14,710$8,670
11 years$19,951$17,842$15,931$14,205$12,651$7,000
12 years$18,102$16,014$14,138$12,460$10,963$5,686
13 years$16,538$14,472$12,632$11,000$9,560$4,641
14 years$15,199$13,154$11,349$9,765$8,380$3,802
15 years$14,039$12,017$10,247$8,708$7,379$3,124
16 years$13,025$11,025$9,290$7,797$6,521$2,574
17 years$12,132$10,154$8,454$7,006$5,782$2,124
18 years$11,338$9,383$7,717$6,314$5,141$1,757
19 years$10,629$8,696$7,065$5,705$4,583$1,454
20 years$9,992$8,080$6,484$5,167$4,093$1,205
21 years$9,416$7,527$5,964$4,689$3,663$1,000
22 years$8,893$7,026$5,497$4,264$3,283$830
23 years$8,417$6,571$5,075$3,883$2,947$690
24 years$7,981$6,157$4,694$3,542$2,649$573
25 years$7,580$5,778$4,347$3,234$2,384$477
26 years$7,210$5,430$4,032$2,957$2,147$397
27 years$6,869$5,110$3,744$2,707$1,936$330
28 years$6,553$4,816$3,480$2,480$1,747$275
29 years$6,259$4,543$3,239$2,274$1,577$229
30 years$5,985$4,290$3,017$2,087$1,425$190
31 years$5,729$4,056$2,813$1,917$1,289$159
32 years$5,489$3,838$2,624$1,762$1,166$132
33 years$5,265$3,634$2,450$1,620$1,055$110
34 years$5,054$3,444$2,289$1,491$955$92
35 years$4,856$3,267$2,140$1,372$865$76
36 years$4,669$3,101$2,002$1,264$784$64
37 years$4,493$2,945$1,874$1,164$710$53
38 years$4,327$2,799$1,755$1,073$644$44
39 years$4,169$2,661$1,644$990$584$37
40 years$4,019$2,532$1,541$913$530$31
41 years$3,878$2,410$1,445$842$481$26
42 years$3,743$2,296$1,356$777$436$21
43 years$3,615$2,187$1,272$717$396$18
44 years$3,493$2,085$1,194$662$359$15
45 years$3,377$1,988$1,121$612$326$12
46 years$3,266$1,897$1,053$565$296$10
47 years$3,161$1,810$989$522$269$9
48 years$3,060$1,728$930$482$244$7
49 years$2,963$1,650$874$446$222$6
50 years$2,870$1,576$821$412$201$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 69 starting with $2,940,000, adding $2,564 every year, while hoping to spend $55,922 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: 64/27/9 Blend
68$2,940,000$2,940,000$2,940,000$2,940,000
69$3,242,525$3,086,705$3,041,135$3,443,791
70$3,513,762$3,178,453$3,083,512$3,670,083
71$3,810,791$3,272,822$3,125,435$3,910,352
72$4,136,183$3,369,882$3,166,829$4,171,343
73$4,492,771$3,469,704$3,207,615$4,455,066
74$4,883,675$3,572,360$3,247,711$4,763,735
75$5,312,328$3,677,925$3,287,028$5,099,785
76$5,782,516$3,786,473$3,325,474$5,465,897
77$6,298,405$3,898,083$3,362,950$5,865,025
78$6,864,586$4,012,833$3,399,352$6,300,418
79$7,486,116$4,130,803$3,434,572$6,775,654
80$8,168,564$4,252,077$3,468,495$7,294,677
81$8,918,065$4,376,737$3,500,997$7,861,824
82$9,741,380$4,504,869$3,531,953$8,481,877
83$10,645,953$4,636,560$3,561,226$9,160,098
84$11,639,988$4,771,899$3,588,674$9,902,285
85$12,732,521$4,910,976$3,614,149$10,714,823
86$13,933,508$5,053,884$3,637,493$11,604,745
87$15,253,917$5,200,715$3,658,540$12,579,799
88$16,705,833$5,351,566$3,677,117$13,648,518
89$18,302,568$5,506,533$3,693,041$14,820,303
90$20,058,791$5,665,715$3,706,120$16,105,509
91$21,990,665$5,829,212$3,716,151$17,515,545
92$24,115,994$5,997,125$3,722,924$19,062,979
93$26,454,399$6,169,557$3,726,215$20,761,655
94$29,027,496$6,346,614$3,725,792$22,626,830
95$31,859,104$6,528,401$3,721,409$24,675,308
96$34,975,466$6,715,026$3,712,810$26,925,605
97$38,405,499$6,906,598$3,699,724$29,398,123
98$42,181,065$7,103,227$3,681,871$32,115,338
99$46,337,273$7,305,024$3,658,952$35,102,015
100$50,912,806$7,512,102$3,630,659$38,385,442