Can I retire at age 70 with 1,240,000?

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 $1,240,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$102,398$101,486$100,596$99,727$98,879$98,380
2 years$50,692$49,748$48,833$47,946$47,085$46,581
3 years$33,459$32,511$31,598$30,719$29,873$29,380
4 years$24,844$23,899$22,995$22,132$21,306$20,827
5 years$19,677$18,737$17,845$16,999$16,196$15,734
6 years$16,233$15,300$14,422$13,594$12,815$12,370
7 years$13,774$12,849$11,985$11,177$10,422$9,994
8 years$11,930$11,014$10,164$9,376$8,646$8,235
9 years$10,497$9,590$8,754$7,986$7,282$6,887
10 years$9,352$8,453$7,632$6,884$6,204$5,827
11 years$8,415$7,525$6,719$5,991$5,336$4,975
12 years$7,635$6,754$5,963$5,255$4,624$4,279
13 years$6,975$6,104$5,328$4,640$4,032$3,703
14 years$6,410$5,548$4,787$4,118$3,535$3,221
15 years$5,921$5,068$4,322$3,673$3,112$2,814
16 years$5,494$4,650$3,918$3,289$2,750$2,467
17 years$5,117$4,283$3,566$2,955$2,439$2,170
18 years$4,782$3,957$3,255$2,663$2,168$1,913
19 years$4,483$3,668$2,980$2,406$1,933$1,691
20 years$4,214$3,408$2,735$2,179$1,726$1,498
21 years$3,971$3,174$2,515$1,978$1,545$1,329
22 years$3,751$2,963$2,318$1,798$1,385$1,180
23 years$3,550$2,771$2,141$1,638$1,243$1,050
24 years$3,366$2,597$1,980$1,494$1,117$935
25 years$3,197$2,437$1,834$1,364$1,005$834
26 years$3,041$2,290$1,701$1,247$906$744
27 years$2,897$2,155$1,579$1,142$817$665
28 years$2,764$2,031$1,468$1,046$737$594
29 years$2,640$1,916$1,366$959$665$532
30 years$2,524$1,810$1,272$880$601$476
31 years$2,416$1,711$1,186$809$543$426
32 years$2,315$1,619$1,107$743$492$382
33 years$2,221$1,533$1,033$683$445$342
34 years$2,132$1,453$966$629$403$307
35 years$2,048$1,378$903$579$365$275
36 years$1,969$1,308$844$533$331$247
37 years$1,895$1,242$790$491$300$221
38 years$1,825$1,180$740$453$272$199
39 years$1,758$1,123$693$417$246$178
40 years$1,695$1,068$650$385$223$160
41 years$1,635$1,017$609$355$203$144
42 years$1,579$968$572$328$184$129
43 years$1,525$922$536$303$167$116
44 years$1,473$879$504$279$152$104
45 years$1,424$839$473$258$138$94
46 years$1,378$800$444$238$125$84
47 years$1,333$763$417$220$113$76
48 years$1,290$729$392$203$103$68
49 years$1,250$696$369$188$94$61
50 years$1,211$665$346$174$85$55

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $1,240,000, adding $4,878 every year, while hoping to spend $30,574 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: 39/50/11 Blend
69$1,240,000$1,240,000$1,240,000$1,240,000
70$1,371,512$1,305,792$1,286,572$1,420,258
71$1,478,875$1,337,245$1,297,141$1,486,652
72$1,596,165$1,369,215$1,307,040$1,555,025
73$1,724,362$1,401,694$1,316,214$1,628,271
74$1,864,545$1,434,675$1,324,605$1,706,845
75$2,017,901$1,468,147$1,332,152$1,791,245
76$2,185,740$1,502,099$1,338,792$1,882,020
77$2,369,501$1,536,518$1,344,457$1,979,776
78$2,570,772$1,571,389$1,349,079$2,085,177
79$2,791,300$1,606,696$1,352,582$2,198,959
80$3,033,008$1,642,419$1,354,889$2,321,929
81$3,298,016$1,678,539$1,355,918$2,454,977
82$3,588,657$1,715,031$1,355,585$2,599,086
83$3,907,502$1,751,869$1,353,799$2,755,336
84$4,257,383$1,789,027$1,350,467$2,924,919
85$4,641,418$1,826,471$1,345,490$3,109,148
86$5,063,043$1,864,168$1,338,764$3,309,469
87$5,526,041$1,902,081$1,330,181$3,527,476
88$6,034,583$1,940,168$1,319,627$3,764,929
89$6,593,260$1,978,385$1,306,984$4,023,762
90$7,207,130$2,016,684$1,292,126$4,306,112
91$7,881,769$2,055,013$1,274,923$4,614,332
92$8,623,315$2,093,314$1,255,239$4,951,014
93$9,438,534$2,131,527$1,232,930$5,319,019
94$10,334,877$2,169,585$1,207,846$5,721,497
95$11,320,556$2,207,416$1,179,831$6,161,922
96$12,404,618$2,244,945$1,148,720$6,644,123
97$13,597,028$2,282,087$1,114,342$7,172,321
98$14,908,770$2,318,754$1,076,517$7,751,169
99$16,351,942$2,354,850$1,035,057$8,385,795
100$17,939,875$2,390,273$989,767$9,081,854