Can I retire at age 70 with 2,020,000?

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 $2,020,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$166,810$165,324$163,874$162,459$161,078$156,929
2 years$82,579$81,041$79,551$78,105$76,704$72,552
3 years$54,506$52,961$51,474$50,043$48,664$44,638
4 years$40,472$38,932$37,460$36,053$34,708$30,839
5 years$32,054$30,523$29,071$27,692$26,384$22,684
6 years$26,444$24,925$23,493$22,146$20,877$17,348
7 years$22,438$20,932$19,523$18,207$16,978$13,622
8 years$19,435$17,942$16,557$15,274$14,085$10,899
9 years$17,101$15,622$14,261$13,010$11,862$8,844
10 years$15,234$13,770$12,433$11,214$10,107$7,253
11 years$13,708$12,259$10,946$9,760$8,692$5,998
12 years$12,437$11,003$9,714$8,561$7,533$4,993
13 years$11,363$9,943$8,679$7,558$6,569$4,179
14 years$10,443$9,038$7,798$6,709$5,758$3,513
15 years$9,646$8,256$7,040$5,983$5,070$2,963
16 years$8,949$7,575$6,383$5,357$4,481$2,507
17 years$8,335$6,976$5,808$4,814$3,973$2,127
18 years$7,790$6,447$5,302$4,338$3,532$1,808
19 years$7,303$5,975$4,854$3,920$3,149$1,539
20 years$6,865$5,552$4,455$3,550$2,812$1,312
21 years$6,470$5,171$4,098$3,222$2,517$1,120
22 years$6,110$4,827$3,777$2,929$2,256$957
23 years$5,783$4,515$3,487$2,668$2,025$819
24 years$5,483$4,230$3,225$2,433$1,820$701
25 years$5,208$3,970$2,987$2,222$1,638$600
26 years$4,954$3,731$2,770$2,032$1,475$515
27 years$4,720$3,511$2,572$1,860$1,330$441
28 years$4,502$3,309$2,391$1,704$1,200$378
29 years$4,300$3,121$2,225$1,563$1,084$325
30 years$4,112$2,948$2,073$1,434$979$279
31 years$3,936$2,787$1,932$1,317$885$239
32 years$3,772$2,637$1,803$1,210$801$206
33 years$3,618$2,497$1,683$1,113$725$177
34 years$3,473$2,367$1,573$1,024$656$152
35 years$3,337$2,245$1,471$943$594$130
36 years$3,208$2,131$1,376$868$538$112
37 years$3,087$2,023$1,288$800$488$96
38 years$2,973$1,923$1,206$737$442$83
39 years$2,864$1,829$1,130$680$401$71
40 years$2,762$1,740$1,059$627$364$61
41 years$2,664$1,656$993$579$330$52
42 years$2,572$1,577$931$534$300$45
43 years$2,484$1,503$874$493$272$39
44 years$2,400$1,432$820$455$247$33
45 years$2,320$1,366$770$420$224$29
46 years$2,244$1,303$723$388$203$25
47 years$2,172$1,244$680$359$185$21
48 years$2,102$1,187$639$331$168$18
49 years$2,036$1,134$600$306$152$16
50 years$1,972$1,083$564$283$138$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $2,020,000, adding $2,001 every year, while hoping to spend $32,515 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: 59/35/6 Blend
69$2,020,000$2,020,000$2,020,000$2,020,000
70$2,228,104$2,121,044$2,089,734$2,356,831
71$2,420,775$2,190,379$2,125,144$2,512,662
72$2,632,009$2,262,023$2,160,651$2,678,594
73$2,863,664$2,336,052$2,196,224$2,858,687
74$3,117,788$2,412,550$2,231,828$3,054,299
75$3,396,638$2,491,599$2,267,429$3,266,927
76$3,702,696$2,573,289$2,302,989$3,498,216
77$4,038,700$2,657,709$2,338,468$3,749,974
78$4,407,663$2,744,953$2,373,823$4,024,195
79$4,812,907$2,835,117$2,409,008$4,323,069
80$5,258,089$2,928,303$2,443,975$4,649,010
81$5,747,238$3,024,615$2,478,673$5,004,672
82$6,284,795$3,124,160$2,513,047$5,392,978
83$6,875,650$3,227,049$2,547,040$5,817,146
84$7,525,191$3,333,400$2,580,590$6,280,717
85$8,239,355$3,443,330$2,613,634$6,787,591
86$9,024,680$3,556,965$2,646,102$7,342,062
87$9,888,374$3,674,432$2,677,923$7,948,857
88$10,838,374$3,795,866$2,709,020$8,613,183
89$11,883,429$3,921,403$2,739,312$9,340,772
90$13,033,174$4,051,187$2,768,714$10,137,938
91$14,298,228$4,185,367$2,797,137$11,011,634
92$15,690,292$4,324,094$2,824,486$11,969,516
93$17,222,257$4,467,529$2,850,661$13,020,020
94$18,908,325$4,615,836$2,875,556$14,172,434
95$20,764,149$4,769,187$2,899,062$15,436,990
96$22,806,972$4,927,758$2,921,061$16,824,958
97$25,055,798$5,091,732$2,941,430$18,348,754
98$27,531,563$5,261,300$2,960,042$20,022,051
99$30,257,338$5,436,659$2,976,759$21,859,915
100$33,258,545$5,618,014$2,991,439$23,878,941