Can I retire at age 69 with 998,000?

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 $998,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$82,414$81,680$80,964$80,265$79,582$78,071
2 years$40,799$40,039$39,303$38,589$37,896$36,380
3 years$26,929$26,166$25,431$24,724$24,043$22,568
4 years$19,996$19,235$18,508$17,812$17,148$15,726
5 years$15,837$15,080$14,363$13,682$13,035$11,671
6 years$13,065$12,314$11,607$10,941$10,314$9,009
7 years$11,086$10,341$9,646$8,995$8,388$7,142
8 years$9,602$8,865$8,180$7,546$6,959$5,772
9 years$8,449$7,718$7,046$6,428$5,860$4,731
10 years$7,527$6,803$6,143$5,541$4,993$3,921
11 years$6,773$6,056$5,408$4,822$4,294$3,278
12 years$6,145$5,436$4,799$4,230$3,722$2,759
13 years$5,614$4,913$4,288$3,734$3,245$2,336
14 years$5,159$4,465$3,853$3,315$2,845$1,986
15 years$4,766$4,079$3,478$2,956$2,505$1,696
16 years$4,422$3,743$3,154$2,647$2,214$1,452
17 years$4,118$3,447$2,870$2,378$1,963$1,247
18 years$3,849$3,185$2,620$2,143$1,745$1,073
19 years$3,608$2,952$2,398$1,937$1,556$925
20 years$3,392$2,743$2,201$1,754$1,389$799
21 years$3,196$2,555$2,024$1,592$1,243$691
22 years$3,019$2,385$1,866$1,447$1,115$598
23 years$2,857$2,231$1,723$1,318$1,000$519
24 years$2,709$2,090$1,593$1,202$899$450
25 years$2,573$1,961$1,476$1,098$809$391
26 years$2,448$1,843$1,369$1,004$729$339
27 years$2,332$1,735$1,271$919$657$295
28 years$2,224$1,635$1,181$842$593$257
29 years$2,124$1,542$1,099$772$535$223
30 years$2,031$1,456$1,024$709$484$194
31 years$1,945$1,377$955$651$437$169
32 years$1,863$1,303$891$598$396$147
33 years$1,787$1,234$832$550$358$128
34 years$1,716$1,169$777$506$324$112
35 years$1,648$1,109$727$466$294$98
36 years$1,585$1,053$680$429$266$85
37 years$1,525$1,000$636$395$241$74
38 years$1,469$950$596$364$219$65
39 years$1,415$903$558$336$198$56
40 years$1,364$860$523$310$180$49
41 years$1,316$818$491$286$163$43
42 years$1,271$779$460$264$148$37
43 years$1,227$742$432$244$134$33
44 years$1,186$708$405$225$122$28
45 years$1,146$675$381$208$111$25
46 years$1,109$644$357$192$101$22
47 years$1,073$614$336$177$91$19
48 years$1,039$587$316$164$83$16
49 years$1,006$560$297$151$75$14
50 years$974$535$279$140$68$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 69 starting with $998,000, adding $6,980 every year, while hoping to spend $54,120 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: 45/41/14 Blend
68$998,000$998,000$998,000$998,000
69$1,106,996$1,054,102$1,038,633$1,152,089
70$1,162,326$1,048,170$1,015,844$1,178,257
71$1,221,486$1,040,133$990,477$1,200,596
72$1,284,810$1,029,831$962,390$1,223,636
73$1,352,662$1,017,095$931,432$1,247,463
74$1,425,445$1,001,744$897,446$1,272,177
75$1,503,598$983,587$860,269$1,297,890
76$1,587,605$962,422$819,727$1,324,730
77$1,677,995$938,036$775,643$1,352,842
78$1,775,352$910,200$727,828$1,382,391
79$1,880,314$878,677$676,087$1,413,561
80$1,993,585$843,210$620,214$1,446,563
81$2,115,935$803,533$559,996$1,481,634
82$2,248,214$759,359$495,210$1,519,039
83$2,391,354$710,390$425,621$1,559,078
84$2,546,380$656,307$350,987$1,602,088
85$2,714,418$596,773$271,052$1,648,445
86$2,896,707$531,434$185,552$1,698,574
87$3,094,611$459,914$94,207$1,752,948
88$3,309,628$381,816$0$1,812,099
89$3,543,407$296,722$0$1,877,110
90$3,797,761$204,188$0$1,963,204
91$4,074,687$103,747$0$2,057,083
92$4,376,380$0$0$2,159,624
93$4,705,257$0$0$2,274,098
94$5,063,977$0$0$2,450,122
95$5,455,469$0$0$2,642,338
96$5,882,955$0$0$2,852,342
97$6,349,982$0$0$3,081,893
98$6,860,454$0$0$3,332,924
99$7,418,672$0$0$3,607,565
100$8,029,370$0$0$3,908,163