Can I retire at age 69 with 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 $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%12.8%
1 years$77,624$76,933$76,258$75,600$74,957$74,082
2 years$38,428$37,712$37,019$36,346$35,694$34,813
3 years$25,364$24,645$23,953$23,287$22,646$21,786
4 years$18,834$18,117$17,432$16,777$16,151$15,320
5 years$14,916$14,204$13,528$12,886$12,278$11,477
6 years$12,305$11,599$10,933$10,305$9,715$8,946
7 years$10,441$9,740$9,085$8,473$7,901$7,164
8 years$9,044$8,349$7,705$7,108$6,555$5,850
9 years$7,958$7,270$6,636$6,054$5,520$4,847
10 years$7,089$6,408$5,786$5,219$4,703$4,061
11 years$6,379$5,704$5,094$4,542$4,045$3,433
12 years$5,788$5,120$4,520$3,984$3,505$2,924
13 years$5,288$4,627$4,039$3,517$3,057$2,504
14 years$4,859$4,206$3,629$3,122$2,679$2,156
15 years$4,489$3,842$3,276$2,784$2,359$1,863
16 years$4,165$3,525$2,970$2,493$2,085$1,615
17 years$3,879$3,246$2,703$2,240$1,849$1,405
18 years$3,625$3,000$2,467$2,019$1,644$1,225
19 years$3,399$2,780$2,259$1,824$1,465$1,070
20 years$3,195$2,584$2,073$1,652$1,309$937
21 years$3,011$2,406$1,907$1,499$1,171$821
22 years$2,843$2,246$1,757$1,363$1,050$721
23 years$2,691$2,101$1,623$1,242$942$634
24 years$2,552$1,968$1,501$1,132$847$558
25 years$2,423$1,847$1,390$1,034$762$491
26 years$2,305$1,736$1,289$946$687$433
27 years$2,196$1,634$1,197$865$619$382
28 years$2,095$1,540$1,113$793$559$337
29 years$2,001$1,452$1,036$727$504$297
30 years$1,913$1,372$965$667$456$263
31 years$1,832$1,297$899$613$412$232
32 years$1,755$1,227$839$563$373$205
33 years$1,683$1,162$783$518$337$182
34 years$1,616$1,101$732$477$305$161
35 years$1,553$1,045$684$439$277$142
36 years$1,493$991$640$404$251$126
37 years$1,437$942$599$372$227$111
38 years$1,383$895$561$343$206$99
39 years$1,333$851$526$316$187$87
40 years$1,285$810$493$292$169$77
41 years$1,240$771$462$269$154$68
42 years$1,197$734$433$248$139$61
43 years$1,156$699$407$229$127$54
44 years$1,117$667$382$212$115$48
45 years$1,080$636$358$196$104$42
46 years$1,044$606$337$181$95$37
47 years$1,011$579$316$167$86$33
48 years$978$552$297$154$78$29
49 years$947$528$279$143$71$26
50 years$918$504$263$132$64$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 69 starting with $940,000, adding $2,866 every year, while hoping to spend $41,950 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: 58/31/11 Blend
68$940,000$940,000$940,000$940,000
69$1,038,836$989,016$974,446$1,096,150
70$1,100,163$992,844$962,456$1,138,943
71$1,166,339$995,452$948,658$1,180,630
72$1,237,815$996,739$932,947$1,225,059
73$1,315,086$996,592$915,214$1,272,501
74$1,398,695$994,896$895,344$1,323,250
75$1,489,240$991,524$873,216$1,377,635
76$1,587,379$986,346$848,706$1,436,019
77$1,693,835$979,220$821,681$1,498,804
78$1,809,402$969,998$792,003$1,566,434
79$1,934,956$958,522$759,530$1,639,400
80$2,071,457$944,625$724,110$1,718,245
81$2,219,964$928,130$685,586$1,803,571
82$2,381,641$908,849$643,794$1,896,042
83$2,557,770$886,584$598,562$1,996,392
84$2,749,759$861,123$549,710$2,105,435
85$2,959,161$832,245$497,052$2,224,068
86$3,187,682$799,712$440,391$2,353,284
87$3,437,204$763,276$379,522$2,494,180
88$3,709,795$722,673$314,232$2,647,969
89$4,007,733$677,623$244,297$2,815,990
90$4,333,526$627,831$169,486$2,999,725
91$4,689,936$572,984$89,554$3,200,810
92$5,080,003$512,754$4,247$3,421,051
93$5,507,075$446,790$0$3,662,445
94$5,974,839$374,726$0$3,937,385
95$6,487,355$296,170$0$4,239,314
96$7,049,095$210,712$0$4,570,457
97$7,664,983$117,918$0$4,933,820
98$8,340,444$17,328$0$5,332,721
99$9,081,451$0$0$5,770,821
100$9,894,585$0$0$6,283,385