Can I retire at age 70 with 1,220,000?

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 $1,220,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.5%
1 years$100,746$99,849$98,974$98,119$97,285$93,945
2 years$49,874$48,946$48,045$47,173$46,326$42,995
3 years$32,919$31,987$31,089$30,224$29,391$26,174
4 years$24,443$23,513$22,625$21,775$20,962$17,883
5 years$19,359$18,435$17,558$16,725$15,935$13,003
6 years$15,971$15,053$14,189$13,375$12,609$9,825
7 years$13,552$12,642$11,791$10,996$10,254$7,619
8 years$11,738$10,836$10,000$9,225$8,507$6,018
9 years$10,328$9,435$8,613$7,857$7,164$4,818
10 years$9,201$8,317$7,509$6,773$6,104$3,897
11 years$8,279$7,404$6,611$5,895$5,250$3,177
12 years$7,512$6,645$5,867$5,170$4,549$2,607
13 years$6,863$6,005$5,242$4,565$3,967$2,150
14 years$6,307$5,459$4,710$4,052$3,478$1,780
15 years$5,826$4,987$4,252$3,614$3,062$1,478
16 years$5,405$4,575$3,855$3,236$2,706$1,231
17 years$5,034$4,213$3,508$2,907$2,399$1,027
18 years$4,705$3,893$3,202$2,620$2,133$859
19 years$4,411$3,608$2,932$2,367$1,902$719
20 years$4,146$3,353$2,691$2,144$1,699$603
21 years$3,907$3,123$2,475$1,946$1,520$506
22 years$3,690$2,915$2,281$1,769$1,362$425
23 years$3,493$2,727$2,106$1,611$1,223$358
24 years$3,312$2,555$1,948$1,470$1,099$301
25 years$3,145$2,398$1,804$1,342$989$253
26 years$2,992$2,253$1,673$1,227$891$213
27 years$2,850$2,121$1,554$1,123$803$180
28 years$2,719$1,998$1,444$1,029$725$151
29 years$2,597$1,885$1,344$944$655$127
30 years$2,483$1,780$1,252$866$591$107
31 years$2,377$1,683$1,167$795$535$91
32 years$2,278$1,592$1,089$731$484$76
33 years$2,185$1,508$1,017$672$438$64
34 years$2,097$1,429$950$619$396$54
35 years$2,015$1,356$888$569$359$46
36 years$1,938$1,287$831$524$325$39
37 years$1,864$1,222$778$483$295$33
38 years$1,795$1,161$728$445$267$28
39 years$1,730$1,104$682$411$242$23
40 years$1,668$1,051$640$379$220$20
41 years$1,609$1,000$600$349$199$17
42 years$1,553$953$563$323$181$14
43 years$1,500$908$528$298$164$12
44 years$1,450$865$495$275$149$10
45 years$1,401$825$465$254$135$8
46 years$1,355$787$437$234$123$7
47 years$1,312$751$411$217$112$6
48 years$1,270$717$386$200$101$5
49 years$1,230$685$363$185$92$4
50 years$1,191$654$341$171$84$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $1,220,000, adding $2,326 every year, while hoping to spend $27,326 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: 61/27/12 Blend
69$1,220,000$1,220,000$1,220,000$1,220,000
70$1,346,839$1,282,179$1,263,269$1,425,004
71$1,455,142$1,315,931$1,276,514$1,511,511
72$1,573,576$1,350,422$1,289,287$1,602,550
73$1,703,146$1,385,657$1,301,543$1,701,224
74$1,844,957$1,421,645$1,313,235$1,808,273
75$2,000,228$1,458,390$1,324,313$1,924,510
76$2,170,299$1,495,900$1,334,726$2,050,833
77$2,356,649$1,534,178$1,344,418$2,188,230
78$2,560,903$1,573,228$1,353,332$2,337,787
79$2,784,853$1,613,054$1,361,407$2,500,702
80$3,030,472$1,653,658$1,368,578$2,678,295
81$3,299,933$1,695,040$1,374,778$2,872,018
82$3,595,631$1,737,202$1,379,938$3,083,472
83$3,920,201$1,780,141$1,383,982$3,314,421
84$4,276,549$1,823,855$1,386,833$3,566,805
85$4,667,874$1,868,341$1,388,409$3,842,766
86$5,097,700$1,913,593$1,388,623$4,144,659
87$5,569,910$1,959,603$1,387,387$4,475,082
88$6,088,781$2,006,364$1,384,605$4,836,897
89$6,659,026$2,053,865$1,380,178$5,233,254
90$7,285,834$2,102,092$1,374,002$5,667,628
91$7,974,927$2,151,032$1,365,968$6,143,846
92$8,732,603$2,200,667$1,355,962$6,666,124
93$9,565,806$2,250,977$1,343,864$7,239,108
94$10,482,184$2,301,940$1,329,549$7,867,918
95$11,490,164$2,353,532$1,312,885$8,558,196
96$12,599,029$2,405,724$1,293,736$9,316,158
97$13,819,010$2,458,484$1,271,956$10,148,654
98$15,161,377$2,511,778$1,247,395$11,063,232
99$16,638,551$2,565,568$1,219,896$12,068,210
100$18,264,213$2,619,811$1,189,292$13,172,754