Can I retire at age 70 with 1,040,000?

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 $1,040,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$85,882$85,117$84,371$83,642$82,931$82,408
2 years$42,516$41,724$40,957$40,213$39,491$38,964
3 years$28,062$27,267$26,502$25,765$25,055$24,539
4 years$20,837$20,044$19,286$18,562$17,869$17,370
5 years$16,503$15,715$14,967$14,257$13,584$13,101
6 years$13,615$12,832$12,096$11,402$10,748$10,284
7 years$11,552$10,777$10,052$9,374$8,741$8,295
8 years$10,006$9,238$8,524$7,864$7,252$6,823
9 years$8,804$8,043$7,342$6,698$6,107$5,697
10 years$7,843$7,089$6,401$5,774$5,204$4,811
11 years$7,058$6,311$5,635$5,025$4,475$4,100
12 years$6,403$5,665$5,001$4,408$3,878$3,520
13 years$5,850$5,119$4,468$3,891$3,382$3,040
14 years$5,376$4,653$4,015$3,454$2,964$2,640
15 years$4,966$4,251$3,625$3,081$2,610$2,301
16 years$4,608$3,900$3,286$2,758$2,307$2,013
17 years$4,292$3,592$2,991$2,478$2,045$1,767
18 years$4,011$3,319$2,730$2,233$1,819$1,555
19 years$3,760$3,076$2,499$2,018$1,621$1,371
20 years$3,535$2,858$2,294$1,828$1,448$1,212
21 years$3,331$2,662$2,110$1,659$1,296$1,073
22 years$3,146$2,485$1,944$1,508$1,161$951
23 years$2,977$2,324$1,795$1,374$1,043$844
24 years$2,823$2,178$1,660$1,253$937$750
25 years$2,681$2,044$1,538$1,144$843$667
26 years$2,551$1,921$1,426$1,046$760$594
27 years$2,430$1,808$1,324$958$685$529
28 years$2,318$1,703$1,231$877$618$472
29 years$2,214$1,607$1,146$805$558$421
30 years$2,117$1,518$1,067$738$504$376
31 years$2,027$1,435$995$678$456$336
32 years$1,942$1,357$928$623$412$300
33 years$1,862$1,286$867$573$373$268
34 years$1,788$1,218$810$527$338$240
35 years$1,718$1,156$757$485$306$215
36 years$1,652$1,097$708$447$277$192
37 years$1,589$1,042$663$412$251$172
38 years$1,530$990$621$380$228$154
39 years$1,475$941$582$350$207$138
40 years$1,422$896$545$323$187$123
41 years$1,372$853$511$298$170$111
42 years$1,324$812$480$275$154$99
43 years$1,279$774$450$254$140$89
44 years$1,236$738$422$234$127$79
45 years$1,195$703$397$216$115$71
46 years$1,155$671$372$200$105$64
47 years$1,118$640$350$185$95$57
48 years$1,082$611$329$171$86$51
49 years$1,048$584$309$158$78$46
50 years$1,015$558$291$146$71$41

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $1,040,000, adding $5,165 every year, while hoping to spend $24,123 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: 39/47/14 Blend
69$1,040,000$1,040,000$1,040,000$1,040,000
70$1,151,408$1,096,288$1,080,168$1,191,285
71$1,243,185$1,124,339$1,090,687$1,248,173
72$1,343,514$1,152,957$1,100,749$1,306,912
73$1,453,244$1,182,142$1,110,315$1,369,902
74$1,573,305$1,211,898$1,119,342$1,437,536
75$1,704,725$1,242,224$1,127,783$1,510,251
76$1,848,635$1,273,121$1,135,591$1,588,525
77$2,006,280$1,304,588$1,142,718$1,672,887
78$2,179,031$1,336,623$1,149,109$1,763,916
79$2,368,397$1,369,223$1,154,709$1,862,253
80$2,576,043$1,402,384$1,159,461$1,968,602
81$2,803,800$1,436,101$1,163,304$2,083,739
82$3,053,685$1,470,368$1,166,173$2,208,519
83$3,327,922$1,505,177$1,168,000$2,343,883
84$3,628,958$1,540,518$1,168,716$2,490,870
85$3,959,489$1,576,381$1,168,246$2,650,621
86$4,322,487$1,612,754$1,166,511$2,824,396
87$4,721,223$1,649,621$1,163,432$3,013,582
88$5,159,302$1,686,967$1,158,921$3,219,710
89$5,640,695$1,724,773$1,152,889$3,444,462
90$6,169,778$1,763,018$1,145,243$3,689,696
91$6,751,369$1,801,680$1,135,882$3,957,458
92$7,390,779$1,840,733$1,124,705$4,250,002
93$8,093,859$1,880,149$1,111,603$4,569,814
94$8,867,053$1,919,897$1,096,462$4,919,631
95$9,717,463$1,959,942$1,079,164$5,302,472
96$10,652,912$2,000,248$1,059,584$5,721,664
97$11,682,022$2,040,773$1,037,593$6,180,871
98$12,814,291$2,081,473$1,013,055$6,684,136
99$14,060,183$2,122,299$985,826$7,235,910
100$15,431,229$2,163,199$955,759$7,841,103