Can I retire at age 70 with 1,030,000?

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 $1,030,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14%
1 years$85,056$84,299$83,560$82,838$82,134$80,773
2 years$42,107$41,323$40,563$39,826$39,111$37,744
3 years$27,793$27,005$26,247$25,517$24,814$23,483
4 years$20,637$19,852$19,101$18,384$17,697$16,413
5 years$16,344$15,564$14,823$14,120$13,453$12,220
6 years$13,484$12,709$11,979$11,292$10,645$9,463
7 years$11,441$10,673$9,955$9,284$8,657$7,527
8 years$9,910$9,149$8,443$7,788$7,182$6,104
9 years$8,720$7,966$7,272$6,634$6,048$5,022
10 years$7,768$7,021$6,339$5,718$5,154$4,177
11 years$6,990$6,251$5,581$4,977$4,432$3,505
12 years$6,342$5,610$4,953$4,365$3,841$2,962
13 years$5,794$5,070$4,425$3,854$3,349$2,517
14 years$5,325$4,609$3,976$3,421$2,936$2,149
15 years$4,918$4,210$3,590$3,051$2,585$1,842
16 years$4,563$3,863$3,255$2,732$2,285$1,584
17 years$4,250$3,557$2,962$2,454$2,026$1,366
18 years$3,972$3,287$2,704$2,212$1,801$1,181
19 years$3,724$3,046$2,475$1,999$1,605$1,023
20 years$3,501$2,831$2,272$1,810$1,434$887
21 years$3,299$2,637$2,089$1,643$1,283$771
22 years$3,116$2,461$1,926$1,494$1,150$671
23 years$2,949$2,302$1,778$1,360$1,033$584
24 years$2,796$2,157$1,644$1,241$928$509
25 years$2,655$2,024$1,523$1,133$835$444
26 years$2,526$1,902$1,413$1,036$752$388
27 years$2,407$1,790$1,312$948$678$339
28 years$2,296$1,687$1,219$869$612$296
29 years$2,193$1,592$1,135$797$553$259
30 years$2,097$1,503$1,057$731$499$226
31 years$2,007$1,421$985$672$451$198
32 years$1,923$1,344$919$617$408$173
33 years$1,845$1,273$858$568$370$152
34 years$1,771$1,207$802$522$335$133
35 years$1,701$1,145$750$481$303$116
36 years$1,636$1,086$701$443$275$102
37 years$1,574$1,032$657$408$249$89
38 years$1,516$981$615$376$226$78
39 years$1,461$932$576$347$205$69
40 years$1,408$887$540$320$186$60
41 years$1,359$844$506$295$168$53
42 years$1,311$804$475$272$153$46
43 years$1,266$766$446$251$139$41
44 years$1,224$730$418$232$126$36
45 years$1,183$697$393$214$114$31
46 years$1,144$664$369$198$104$27
47 years$1,107$634$347$183$94$24
48 years$1,072$605$326$169$86$21
49 years$1,038$578$306$156$78$18
50 years$1,006$552$288$144$71$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $1,030,000, adding $2,072 every year, while hoping to spend $22,669 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: 60/28/12 Blend
69$1,030,000$1,030,000$1,030,000$1,030,000
70$1,137,197$1,082,607$1,066,642$1,202,014
71$1,229,072$1,111,535$1,078,255$1,274,772
72$1,329,558$1,141,121$1,089,497$1,351,357
73$1,439,509$1,171,373$1,100,332$1,434,348
74$1,559,868$1,202,299$1,110,722$1,524,365
75$1,691,669$1,233,906$1,120,626$1,622,090
76$1,836,054$1,266,202$1,130,001$1,728,274
77$1,994,279$1,299,193$1,138,804$1,843,744
78$2,167,727$1,332,886$1,146,986$1,969,411
79$2,357,924$1,367,285$1,154,498$2,106,279
80$2,566,546$1,402,397$1,161,288$2,255,452
81$2,795,444$1,438,224$1,167,301$2,418,148
82$3,046,653$1,474,771$1,172,480$2,595,706
83$3,322,417$1,512,041$1,176,763$2,789,604
84$3,625,207$1,550,034$1,180,088$3,001,467
85$3,957,744$1,588,751$1,182,387$3,233,087
86$4,323,027$1,628,193$1,183,590$3,486,439
87$4,724,359$1,668,358$1,183,623$3,763,697
88$5,165,379$1,709,243$1,182,410$4,067,256
89$5,650,096$1,750,844$1,179,869$4,399,756
90$6,182,926$1,793,155$1,175,915$4,764,105
91$6,768,735$1,836,171$1,170,459$5,163,508
92$7,412,884$1,879,881$1,163,407$5,601,495
93$8,121,279$1,924,276$1,154,662$6,081,956
94$8,900,427$1,969,343$1,144,121$6,609,177
95$9,757,497$2,015,068$1,131,676$7,187,881
96$10,700,390$2,061,434$1,117,215$7,823,273
97$11,737,807$2,108,422$1,100,619$8,521,087
98$12,879,340$2,156,011$1,081,766$9,287,643
99$14,135,554$2,204,177$1,060,527$10,129,903
100$15,518,091$2,252,892$1,036,765$11,055,541