Can I retire at age 70 with 1,340,000?

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 $1,340,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.7%
1 years$110,656$109,670$108,709$107,770$106,853$105,650
2 years$54,780$53,760$52,771$51,813$50,883$49,671
3 years$36,157$35,133$34,146$33,197$32,282$31,100
4 years$26,848$25,826$24,850$23,916$23,024$21,880
5 years$21,263$20,248$19,285$18,370$17,502$16,401
6 years$17,542$16,534$15,585$14,691$13,849$12,791
7 years$14,885$13,885$12,951$12,078$11,263$10,248
8 years$12,893$11,902$10,983$10,132$9,344$8,373
9 years$11,344$10,363$9,460$8,630$7,869$6,941
10 years$10,106$9,135$8,248$7,439$6,705$5,820
11 years$9,093$8,132$7,261$6,474$5,766$4,923
12 years$8,250$7,299$6,444$5,679$4,997$4,195
13 years$7,538$6,596$5,757$5,014$4,357$3,596
14 years$6,927$5,996$5,173$4,451$3,820$3,097
15 years$6,399$5,477$4,670$3,969$3,363$2,678
16 years$5,937$5,025$4,234$3,554$2,972$2,324
17 years$5,529$4,628$3,853$3,193$2,635$2,023
18 years$5,168$4,276$3,517$2,878$2,343$1,765
19 years$4,845$3,963$3,220$2,600$2,089$1,543
20 years$4,554$3,683$2,955$2,355$1,866$1,352
21 years$4,292$3,430$2,718$2,137$1,670$1,186
22 years$4,053$3,202$2,505$1,943$1,496$1,042
23 years$3,836$2,995$2,313$1,770$1,343$916
24 years$3,637$2,806$2,139$1,614$1,207$807
25 years$3,455$2,633$1,981$1,474$1,086$711
26 years$3,286$2,475$1,838$1,348$979$627
27 years$3,131$2,329$1,706$1,234$882$554
28 years$2,987$2,195$1,586$1,130$796$489
29 years$2,853$2,071$1,476$1,037$719$432
30 years$2,728$1,955$1,375$951$650$382
31 years$2,611$1,849$1,282$874$587$338
32 years$2,502$1,749$1,196$803$531$299
33 years$2,400$1,656$1,117$738$481$265
34 years$2,304$1,570$1,043$679$435$234
35 years$2,213$1,489$976$625$394$207
36 years$2,128$1,413$913$576$357$184
37 years$2,048$1,342$854$531$324$163
38 years$1,972$1,276$800$489$294$144
39 years$1,900$1,213$749$451$266$128
40 years$1,832$1,154$702$416$241$113
41 years$1,767$1,099$659$384$219$100
42 years$1,706$1,046$618$354$199$89
43 years$1,648$997$580$327$180$79
44 years$1,592$950$544$302$164$70
45 years$1,539$906$511$279$149$62
46 years$1,489$864$480$258$135$55
47 years$1,441$825$451$238$123$49
48 years$1,394$788$424$220$111$43
49 years$1,350$752$398$203$101$38
50 years$1,308$718$374$188$92$34

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $1,340,000, adding $2,194 every year, while hoping to spend $29,327 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: 48/29/23 Blend
69$1,340,000$1,340,000$1,340,000$1,340,000
70$1,478,943$1,407,923$1,387,153$1,540,179
71$1,598,592$1,445,708$1,402,419$1,620,963
72$1,729,461$1,484,361$1,417,213$1,705,533
73$1,872,666$1,523,894$1,431,490$1,796,774
74$2,029,432$1,564,318$1,445,198$1,895,327
75$2,201,108$1,605,645$1,458,287$2,001,897
76$2,389,184$1,647,884$1,470,702$2,117,261
77$2,595,295$1,691,044$1,482,385$2,242,274
78$2,821,245$1,735,136$1,493,275$2,377,878
79$3,069,022$1,780,167$1,503,309$2,525,113
80$3,340,811$1,826,145$1,512,420$2,685,120
81$3,639,024$1,873,076$1,520,536$2,859,161
82$3,966,314$1,920,966$1,527,584$3,048,624
83$4,325,606$1,969,821$1,533,485$3,255,037
84$4,720,119$2,019,643$1,538,158$3,480,087
85$5,153,401$2,070,436$1,541,516$3,725,630
86$5,629,361$2,122,200$1,543,470$3,993,713
87$6,152,303$2,174,936$1,543,924$4,286,590
88$6,726,971$2,228,641$1,542,778$4,606,746
89$7,358,590$2,283,312$1,539,929$4,956,920
90$8,052,916$2,338,944$1,535,267$5,340,128
91$8,816,292$2,395,531$1,528,677$5,759,697
92$9,655,705$2,453,062$1,520,038$6,219,290
93$10,578,852$2,511,528$1,509,225$6,722,947
94$11,594,215$2,570,913$1,496,104$7,275,118
95$12,711,140$2,631,203$1,480,539$7,880,710
96$13,939,922$2,692,377$1,462,382$8,545,127
97$15,291,905$2,754,415$1,441,484$9,274,328
98$16,779,590$2,817,292$1,417,683$10,074,880
99$18,416,747$2,880,978$1,390,815$10,954,019
100$20,218,552$2,945,443$1,360,704$11,919,721