Can I retire at age 70 with 1,120,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $1,120,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$92,489$91,665$90,861$90,076$89,310$88,897
2 years$45,786$44,934$44,107$43,306$42,529$42,111
3 years$30,221$29,365$28,540$27,747$26,982$26,573
4 years$22,440$21,586$20,770$19,990$19,244$18,847
5 years$17,772$16,924$16,118$15,354$14,629$14,246
6 years$14,662$13,820$13,026$12,279$11,575$11,206
7 years$12,441$11,606$10,825$10,095$9,414$9,059
8 years$10,776$9,948$9,180$8,469$7,810$7,469
9 years$9,482$8,662$7,907$7,213$6,577$6,250
10 years$8,447$7,635$6,893$6,218$5,604$5,291
11 years$7,601$6,797$6,069$5,411$4,819$4,520
12 years$6,896$6,100$5,386$4,747$4,176$3,890
13 years$6,300$5,513$4,812$4,191$3,642$3,369
14 years$5,790$5,011$4,324$3,720$3,193$2,932
15 years$5,348$4,578$3,904$3,317$2,811$2,563
16 years$4,962$4,200$3,539$2,970$2,484$2,249
17 years$4,622$3,868$3,221$2,669$2,203$1,979
18 years$4,319$3,574$2,940$2,405$1,959$1,746
19 years$4,049$3,313$2,691$2,173$1,746$1,545
20 years$3,807$3,078$2,470$1,968$1,559$1,369
21 years$3,587$2,867$2,272$1,786$1,395$1,215
22 years$3,388$2,677$2,094$1,624$1,251$1,081
23 years$3,206$2,503$1,933$1,479$1,123$962
24 years$3,040$2,345$1,788$1,349$1,009$858
25 years$2,888$2,201$1,656$1,232$908$765
26 years$2,747$2,069$1,536$1,127$818$683
27 years$2,617$1,947$1,426$1,031$737$611
28 years$2,496$1,834$1,326$945$665$547
29 years$2,384$1,731$1,234$866$601$489
30 years$2,280$1,634$1,149$795$543$438
31 years$2,182$1,545$1,071$730$491$393
32 years$2,091$1,462$1,000$671$444$352
33 years$2,006$1,384$933$617$402$316
34 years$1,925$1,312$872$568$364$283
35 years$1,850$1,245$815$523$330$254
36 years$1,779$1,181$763$481$299$228
37 years$1,712$1,122$714$444$271$205
38 years$1,648$1,066$669$409$245$184
39 years$1,588$1,014$626$377$222$165
40 years$1,531$965$587$348$202$149
41 years$1,477$918$551$321$183$134
42 years$1,426$874$516$296$166$120
43 years$1,377$833$485$273$151$108
44 years$1,331$794$455$252$137$97
45 years$1,286$757$427$233$124$87
46 years$1,244$723$401$215$113$78
47 years$1,204$689$377$199$102$71
48 years$1,166$658$354$184$93$63
49 years$1,129$629$333$170$84$57
50 years$1,094$600$313$157$77$51

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $1,120,000, adding $6,981 every year, while hoping to spend $29,020 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: 61/34/5 Blend
69$1,120,000$1,120,000$1,120,000$1,120,000
70$1,241,441$1,182,081$1,164,721$1,315,729
71$1,337,191$1,209,126$1,172,862$1,393,228
72$1,441,735$1,236,523$1,180,303$1,473,739
73$1,555,939$1,264,260$1,186,990$1,560,828
74$1,680,757$1,292,321$1,192,867$1,655,129
75$1,817,238$1,320,689$1,197,873$1,757,337
76$1,966,540$1,349,347$1,201,945$1,868,221
77$2,129,935$1,378,273$1,205,018$1,988,625
78$2,308,825$1,407,444$1,207,022$2,119,481
79$2,504,753$1,436,837$1,207,885$2,261,812
80$2,719,419$1,466,423$1,207,531$2,416,750
81$2,954,695$1,496,173$1,205,879$2,585,536
82$3,212,644$1,526,055$1,202,845$2,769,542
83$3,495,534$1,556,033$1,198,341$2,970,276
84$3,805,869$1,586,069$1,192,276$3,189,402
85$4,146,402$1,616,120$1,184,551$3,428,751
86$4,520,168$1,646,143$1,175,067$3,690,343
87$4,930,509$1,676,088$1,163,716$3,976,401
88$5,381,108$1,705,903$1,150,387$4,289,376
89$5,876,019$1,735,531$1,134,963$4,631,968
90$6,419,712$1,764,911$1,117,324$5,007,154
91$7,017,109$1,793,978$1,097,340$5,418,211
92$7,673,631$1,822,660$1,074,878$5,868,753
93$8,395,253$1,850,882$1,049,798$6,362,761
94$9,188,556$1,878,562$1,021,953$6,904,624
95$10,060,791$1,905,614$991,191$7,499,177
96$11,019,946$1,931,944$957,351$8,151,747
97$12,074,824$1,957,452$920,265$8,868,209
98$13,235,121$1,982,032$879,759$9,655,032
99$14,511,520$2,005,569$835,648$10,519,350
100$15,915,795$2,027,942$787,742$11,469,022