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

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 $1,120,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$92,489$91,665$90,861$90,076$89,310$87,471
2 years$45,786$44,934$44,107$43,306$42,529$40,684
3 years$30,221$29,365$28,540$27,747$26,982$25,190
4 years$22,440$21,586$20,770$19,990$19,244$17,517
5 years$17,772$16,924$16,118$15,354$14,629$12,973
6 years$14,662$13,820$13,026$12,279$11,575$9,992
7 years$12,441$11,606$10,825$10,095$9,414$7,904
8 years$10,776$9,948$9,180$8,469$7,810$6,372
9 years$9,482$8,662$7,907$7,213$6,577$5,211
10 years$8,447$7,635$6,893$6,218$5,604$4,308
11 years$7,601$6,797$6,069$5,411$4,819$3,592
12 years$6,896$6,100$5,386$4,747$4,176$3,016
13 years$6,300$5,513$4,812$4,191$3,642$2,546
14 years$5,790$5,011$4,324$3,720$3,193$2,160
15 years$5,348$4,578$3,904$3,317$2,811$1,838
16 years$4,962$4,200$3,539$2,970$2,484$1,570
17 years$4,622$3,868$3,221$2,669$2,203$1,344
18 years$4,319$3,574$2,940$2,405$1,959$1,153
19 years$4,049$3,313$2,691$2,173$1,746$992
20 years$3,807$3,078$2,470$1,968$1,559$854
21 years$3,587$2,867$2,272$1,786$1,395$736
22 years$3,388$2,677$2,094$1,624$1,251$636
23 years$3,206$2,503$1,933$1,479$1,123$549
24 years$3,040$2,345$1,788$1,349$1,009$475
25 years$2,888$2,201$1,656$1,232$908$411
26 years$2,747$2,069$1,536$1,127$818$356
27 years$2,617$1,947$1,426$1,031$737$308
28 years$2,496$1,834$1,326$945$665$267
29 years$2,384$1,731$1,234$866$601$232
30 years$2,280$1,634$1,149$795$543$201
31 years$2,182$1,545$1,071$730$491$175
32 years$2,091$1,462$1,000$671$444$152
33 years$2,006$1,384$933$617$402$132
34 years$1,925$1,312$872$568$364$114
35 years$1,850$1,245$815$523$330$99
36 years$1,779$1,181$763$481$299$86
37 years$1,712$1,122$714$444$271$75
38 years$1,648$1,066$669$409$245$65
39 years$1,588$1,014$626$377$222$57
40 years$1,531$965$587$348$202$49
41 years$1,477$918$551$321$183$43
42 years$1,426$874$516$296$166$37
43 years$1,377$833$485$273$151$32
44 years$1,331$794$455$252$137$28
45 years$1,286$757$427$233$124$24
46 years$1,244$723$401$215$113$21
47 years$1,204$689$377$199$102$18
48 years$1,166$658$354$184$93$16
49 years$1,129$629$333$170$84$14
50 years$1,094$600$313$157$77$12

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 $5,420 every year, while hoping to spend $54,782 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: 50/36/14 Blend
69$1,120,000$1,120,000$1,120,000$1,120,000
70$1,239,831$1,180,471$1,163,111$1,296,820
71$1,308,006$1,180,026$1,143,787$1,336,105
72$1,381,299$1,177,724$1,121,981$1,372,599
73$1,460,174$1,173,415$1,097,549$1,411,036
74$1,545,140$1,166,941$1,070,346$1,451,615
75$1,636,758$1,158,135$1,040,216$1,494,560
76$1,735,643$1,146,819$1,006,999$1,540,118
77$1,842,470$1,132,804$970,525$1,588,566
78$1,957,981$1,115,891$930,617$1,640,214
79$2,082,994$1,095,868$887,091$1,695,404
80$2,218,404$1,072,511$839,753$1,754,518
81$2,365,199$1,045,582$788,403$1,817,981
82$2,524,464$1,014,829$732,829$1,886,265
83$2,697,391$979,988$672,811$1,959,895
84$2,885,293$940,775$608,118$2,039,456
85$3,089,613$896,893$538,510$2,125,595
86$3,311,939$848,027$463,735$2,219,031
87$3,554,019$793,842$383,533$2,320,565
88$3,817,775$733,987$297,627$2,431,082
89$4,105,324$668,088$205,733$2,551,567
90$4,418,994$595,751$107,552$2,683,112
91$4,761,348$516,560$2,772$2,826,925
92$5,135,209$430,074$0$2,984,350
93$5,543,681$335,829$0$3,173,162
94$5,990,186$233,333$0$3,380,220
95$6,478,486$122,069$0$3,606,988
96$7,012,729$1,487$0$3,855,544
97$7,597,477$0$0$4,128,182
98$8,237,758$0$0$4,478,541
99$8,939,105$0$0$4,863,079
100$9,707,614$0$0$5,284,563