Can I retire at age 69 with 2,960,000?

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 $2,960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.8%
1 years$244,434$242,257$240,132$238,059$236,035$231,363
2 years$121,007$118,753$116,569$114,451$112,397$107,711
3 years$79,870$77,607$75,428$73,330$71,310$66,754
4 years$59,306$57,049$54,892$52,830$50,859$46,469
5 years$46,970$44,727$42,599$40,579$38,662$34,451
6 years$38,749$36,523$34,426$32,451$30,592$26,564
7 years$32,879$30,672$28,608$26,680$24,879$21,036
8 years$28,479$26,292$24,262$22,381$20,640$16,979
9 years$25,058$22,892$20,897$19,064$17,382$13,901
10 years$22,323$20,178$18,218$16,433$14,810$11,507
11 years$20,087$17,963$16,039$14,302$12,737$9,607
12 years$18,225$16,123$14,234$12,545$11,038$8,077
13 years$16,650$14,570$12,717$11,075$9,625$6,828
14 years$15,302$13,244$11,427$9,831$8,437$5,798
15 years$14,135$12,099$10,317$8,768$7,429$4,943
16 years$13,114$11,100$9,354$7,850$6,566$4,227
17 years$12,214$10,223$8,511$7,054$5,822$3,624
18 years$11,416$9,446$7,770$6,357$5,176$3,115
19 years$10,702$8,755$7,113$5,744$4,614$2,682
20 years$10,060$8,135$6,528$5,202$4,121$2,313
21 years$9,480$7,578$6,004$4,721$3,688$1,997
22 years$8,954$7,074$5,534$4,293$3,306$1,727
23 years$8,474$6,616$5,110$3,909$2,967$1,494
24 years$8,035$6,199$4,726$3,566$2,667$1,294
25 years$7,631$5,817$4,377$3,256$2,400$1,122
26 years$7,260$5,467$4,059$2,977$2,162$973
27 years$6,916$5,145$3,769$2,725$1,949$845
28 years$6,597$4,848$3,504$2,497$1,759$733
29 years$6,301$4,574$3,261$2,290$1,588$637
30 years$6,025$4,319$3,037$2,101$1,435$554
31 years$5,768$4,083$2,832$1,930$1,297$481
32 years$5,527$3,864$2,642$1,774$1,173$418
33 years$5,301$3,659$2,467$1,631$1,062$364
34 years$5,089$3,468$2,305$1,501$962$317
35 years$4,889$3,289$2,155$1,382$871$275
36 years$4,701$3,122$2,016$1,272$789$240
37 years$4,524$2,965$1,887$1,172$715$209
38 years$4,356$2,818$1,767$1,081$648$182
39 years$4,197$2,680$1,655$996$588$158
40 years$4,047$2,549$1,552$919$533$138
41 years$3,904$2,427$1,455$848$484$120
42 years$3,769$2,311$1,365$782$439$104
43 years$3,640$2,202$1,281$722$398$91
44 years$3,517$2,099$1,202$667$362$79
45 years$3,400$2,002$1,129$616$328$69
46 years$3,288$1,909$1,060$569$298$60
47 years$3,182$1,822$996$526$271$52
48 years$3,080$1,740$936$486$246$45
49 years$2,983$1,661$880$449$223$40
50 years$2,890$1,587$827$415$203$35

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 69 starting with $2,960,000, adding $4,123 every year, while hoping to spend $30,897 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: 32/46/22 Blend
68$2,960,000$2,960,000$2,960,000$2,960,000
69$3,266,173$3,109,293$3,063,413$3,348,404
70$3,566,448$3,228,774$3,133,163$3,530,129
71$3,896,316$3,353,074$3,204,214$3,722,653
72$4,258,763$3,482,397$3,276,578$3,929,389
73$4,657,077$3,616,955$3,350,263$4,151,603
74$5,094,883$3,756,969$3,425,281$4,390,681
75$5,576,172$3,902,672$3,501,639$4,648,146
76$6,105,344$4,054,306$3,579,347$4,925,666
77$6,687,244$4,212,122$3,658,410$5,225,074
78$7,327,211$4,376,384$3,738,835$5,548,382
79$8,031,128$4,547,368$3,820,627$5,897,798
80$8,805,475$4,725,361$3,903,790$6,275,747
81$9,657,394$4,910,664$3,988,327$6,684,893
82$10,594,752$5,103,590$4,074,240$7,128,163
83$11,626,217$5,304,467$4,161,528$7,608,771
84$12,761,343$5,513,638$4,250,191$8,130,251
85$14,010,653$5,731,459$4,340,225$8,696,486
86$15,385,743$5,958,304$4,431,626$9,311,745
87$16,899,392$6,194,564$4,524,389$9,980,721
88$18,565,679$6,440,646$4,618,504$10,708,573
89$20,400,117$6,696,977$4,713,963$11,500,977
90$22,419,801$6,964,001$4,810,753$12,364,172
91$24,643,567$7,242,183$4,908,860$13,305,022
92$27,092,171$7,532,011$5,008,267$14,331,078
93$29,788,485$7,833,991$5,108,955$15,450,645
94$32,757,708$8,148,655$5,210,904$16,672,862
95$36,027,613$8,476,557$5,314,088$18,007,784
96$39,628,800$8,818,279$5,418,480$19,466,477
97$43,594,988$9,174,425$5,524,049$21,061,117
98$47,963,335$9,545,630$5,630,763$22,805,106
99$52,774,785$9,932,556$5,738,584$24,713,193
100$58,074,459$10,335,896$5,847,472$26,801,614