Can I retire at age 70 with 1,020,000?

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 $1,020,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$84,231$83,480$82,748$82,034$81,336$80,756
2 years$41,698$40,922$40,169$39,439$38,732$38,146
3 years$27,523$26,743$25,992$25,269$24,573$24,001
4 years$20,436$19,659$18,916$18,205$17,526$16,971
5 years$16,186$15,413$14,679$13,983$13,323$12,788
6 years$13,353$12,586$11,863$11,182$10,542$10,027
7 years$11,330$10,569$9,858$9,194$8,573$8,079
8 years$9,814$9,060$8,361$7,712$7,112$6,638
9 years$8,635$7,888$7,201$6,569$5,990$5,535
10 years$7,692$6,953$6,278$5,663$5,103$4,669
11 years$6,922$6,190$5,527$4,928$4,389$3,974
12 years$6,280$5,556$4,905$4,323$3,804$3,408
13 years$5,738$5,021$4,382$3,816$3,317$2,940
14 years$5,273$4,564$3,938$3,388$2,907$2,549
15 years$4,871$4,169$3,555$3,021$2,560$2,219
16 years$4,519$3,825$3,223$2,705$2,262$1,939
17 years$4,209$3,523$2,933$2,431$2,006$1,699
18 years$3,934$3,255$2,677$2,190$1,784$1,493
19 years$3,688$3,017$2,451$1,979$1,590$1,315
20 years$3,467$2,803$2,249$1,793$1,420$1,160
21 years$3,267$2,611$2,069$1,627$1,271$1,026
22 years$3,085$2,438$1,907$1,479$1,139$908
23 years$2,920$2,280$1,761$1,347$1,023$805
24 years$2,769$2,136$1,628$1,229$919$714
25 years$2,630$2,005$1,508$1,122$827$634
26 years$2,502$1,884$1,399$1,026$745$564
27 years$2,383$1,773$1,299$939$672$502
28 years$2,273$1,671$1,208$860$606$447
29 years$2,171$1,576$1,124$789$547$398
30 years$2,076$1,488$1,047$724$494$355
31 years$1,988$1,407$976$665$447$316
32 years$1,905$1,331$910$611$404$282
33 years$1,827$1,261$850$562$366$252
34 years$1,754$1,195$794$517$331$225
35 years$1,685$1,133$743$476$300$201
36 years$1,620$1,076$695$438$272$179
37 years$1,559$1,022$650$404$246$160
38 years$1,501$971$609$372$223$143
39 years$1,446$923$570$343$203$128
40 years$1,395$879$535$317$184$114
41 years$1,345$836$501$292$167$102
42 years$1,299$796$470$270$151$91
43 years$1,254$759$441$249$137$82
44 years$1,212$723$414$230$125$73
45 years$1,172$690$389$212$113$65
46 years$1,133$658$365$196$103$59
47 years$1,097$628$343$181$93$52
48 years$1,061$599$323$167$85$47
49 years$1,028$572$303$155$77$42
50 years$996$547$285$143$70$38

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $1,020,000, adding $2,237 every year, while hoping to spend $48,170 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: 56/24/20 Blend
69$1,020,000$1,020,000$1,020,000$1,020,000
70$1,126,347$1,072,287$1,056,477$1,183,250
71$1,189,982$1,073,577$1,040,617$1,223,615
72$1,258,494$1,073,315$1,022,611$1,262,229
73$1,332,328$1,071,376$1,002,336$1,303,240
74$1,411,975$1,067,623$979,664$1,346,891
75$1,497,975$1,061,915$954,461$1,393,450
76$1,590,918$1,054,099$926,586$1,443,216
77$1,691,457$1,044,015$895,891$1,496,520
78$1,800,306$1,031,492$862,224$1,553,728
79$1,918,252$1,016,350$825,423$1,615,248
80$2,046,159$998,396$785,321$1,681,529
81$2,184,979$977,429$741,740$1,753,072
82$2,335,757$953,233$694,498$1,830,429
83$2,499,643$925,580$643,403$1,914,215
84$2,677,903$894,230$588,253$2,005,108
85$2,871,929$858,927$528,840$2,103,860
86$3,083,254$819,403$464,944$2,211,303
87$3,313,563$775,371$396,337$2,328,359
88$3,564,712$726,530$322,780$2,456,048
89$3,838,743$672,560$244,023$2,595,498
90$4,137,904$613,124$159,807$2,747,958
91$4,464,668$547,866$69,859$2,914,810
92$4,821,761$476,408$0$3,097,580
93$5,212,181$398,352$0$3,303,534
94$5,639,229$313,277$0$3,545,237
95$6,106,541$220,738$0$3,809,895
96$6,618,121$120,267$0$4,099,861
97$7,178,377$11,367$0$4,417,730
98$7,792,162$0$0$4,766,365
99$8,464,824$0$0$5,177,048
100$9,202,250$0$0$5,630,655