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%13.7%
1 years$100,746$99,849$98,974$98,119$97,285$95,791
2 years$49,874$48,946$48,045$47,173$46,326$44,825
3 years$32,919$31,987$31,089$30,224$29,391$27,929
4 years$24,443$23,513$22,625$21,775$20,962$19,551
5 years$19,359$18,435$17,558$16,725$15,935$14,578
6 years$15,971$15,053$14,189$13,375$12,609$11,308
7 years$13,552$12,642$11,791$10,996$10,254$9,010
8 years$11,738$10,836$10,000$9,225$8,507$7,319
9 years$10,328$9,435$8,613$7,857$7,164$6,032
10 years$9,201$8,317$7,509$6,773$6,104$5,027
11 years$8,279$7,404$6,611$5,895$5,250$4,226
12 years$7,512$6,645$5,867$5,170$4,549$3,578
13 years$6,863$6,005$5,242$4,565$3,967$3,047
14 years$6,307$5,459$4,710$4,052$3,478$2,607
15 years$5,826$4,987$4,252$3,614$3,062$2,239
16 years$5,405$4,575$3,855$3,236$2,706$1,930
17 years$5,034$4,213$3,508$2,907$2,399$1,668
18 years$4,705$3,893$3,202$2,620$2,133$1,444
19 years$4,411$3,608$2,932$2,367$1,902$1,254
20 years$4,146$3,353$2,691$2,144$1,699$1,090
21 years$3,907$3,123$2,475$1,946$1,520$949
22 years$3,690$2,915$2,281$1,769$1,362$828
23 years$3,493$2,727$2,106$1,611$1,223$722
24 years$3,312$2,555$1,948$1,470$1,099$631
25 years$3,145$2,398$1,804$1,342$989$552
26 years$2,992$2,253$1,673$1,227$891$483
27 years$2,850$2,121$1,554$1,123$803$423
28 years$2,719$1,998$1,444$1,029$725$371
29 years$2,597$1,885$1,344$944$655$325
30 years$2,483$1,780$1,252$866$591$285
31 years$2,377$1,683$1,167$795$535$250
32 years$2,278$1,592$1,089$731$484$219
33 years$2,185$1,508$1,017$672$438$192
34 years$2,097$1,429$950$619$396$169
35 years$2,015$1,356$888$569$359$148
36 years$1,938$1,287$831$524$325$130
37 years$1,864$1,222$778$483$295$114
38 years$1,795$1,161$728$445$267$101
39 years$1,730$1,104$682$411$242$88
40 years$1,668$1,051$640$379$220$78
41 years$1,609$1,000$600$349$199$68
42 years$1,553$953$563$323$181$60
43 years$1,500$908$528$298$164$53
44 years$1,450$865$495$275$149$46
45 years$1,401$825$465$254$135$41
46 years$1,355$787$437$234$123$36
47 years$1,312$751$411$217$112$32
48 years$1,270$717$386$200$101$28
49 years$1,230$685$363$185$92$24
50 years$1,191$654$341$171$84$21

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 $5,822 every year, while hoping to spend $55,018 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: 47/46/7 Blend
69$1,220,000$1,220,000$1,220,000$1,220,000
70$1,350,445$1,285,785$1,266,875$1,411,107
71$1,429,652$1,290,250$1,250,777$1,457,822
72$1,515,094$1,293,090$1,232,295$1,502,243
73$1,607,349$1,294,166$1,211,292$1,549,164
74$1,707,052$1,293,334$1,187,624$1,598,833
75$1,814,900$1,290,437$1,161,139$1,651,526
76$1,931,662$1,285,310$1,131,679$1,707,548
77$2,058,180$1,277,779$1,099,079$1,767,241
78$2,195,382$1,267,658$1,063,166$1,830,983
79$2,344,288$1,254,749$1,023,758$1,899,195
80$2,506,019$1,238,845$980,668$1,972,342
81$2,681,808$1,219,725$933,696$2,050,943
82$2,873,014$1,197,152$882,636$2,135,573
83$3,081,129$1,170,880$827,271$2,226,870
84$3,307,796$1,140,645$767,377$2,325,543
85$3,554,823$1,106,169$702,717$2,432,375
86$3,824,201$1,067,158$633,043$2,548,239
87$4,118,120$1,023,298$558,100$2,674,099
88$4,438,989$974,260$477,617$2,811,025
89$4,789,462$919,696$391,314$2,960,204
90$5,172,462$859,235$298,897$3,122,949
91$5,591,203$792,488$200,061$3,300,715
92$6,049,227$719,041$94,484$3,495,115
93$6,550,432$638,459$0$3,707,933
94$7,099,113$550,280$0$3,942,504
95$7,699,996$454,017$0$4,207,276
96$8,358,287$349,155$0$4,497,634
97$9,079,720$235,151$0$4,816,283
98$9,870,609$111,432$0$5,166,218
99$10,737,909$0$0$5,550,749
100$11,689,279$0$0$5,984,978