Can I retire at age 70 with 2,040,000?

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 $2,040,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.1%
1 years$168,461$166,961$165,497$164,068$162,672$156,714
2 years$83,397$81,843$80,338$78,879$77,463$71,526
3 years$55,046$53,486$51,984$50,538$49,146$43,417
4 years$40,873$39,318$37,831$36,410$35,051$29,575
5 years$32,371$30,825$29,359$27,966$26,645$21,435
6 years$26,705$25,171$23,726$22,365$21,084$16,144
7 years$22,660$21,139$19,716$18,387$17,147$12,476
8 years$19,627$18,120$16,721$15,425$14,225$9,819
9 years$17,270$15,777$14,402$13,138$11,979$7,832
10 years$15,385$13,906$12,556$11,326$10,207$6,311
11 years$13,844$12,380$11,054$9,857$8,778$5,126
12 years$12,560$11,112$9,810$8,646$7,607$4,189
13 years$11,475$10,042$8,765$7,633$6,634$3,440
14 years$10,546$9,128$7,875$6,775$5,815$2,836
15 years$9,741$8,338$7,110$6,043$5,120$2,345
16 years$9,038$7,650$6,446$5,410$4,525$1,945
17 years$8,418$7,045$5,866$4,861$4,012$1,616
18 years$7,867$6,510$5,355$4,381$3,567$1,345
19 years$7,376$6,034$4,902$3,959$3,180$1,121
20 years$6,933$5,607$4,499$3,585$2,840$936
21 years$6,534$5,223$4,138$3,254$2,542$782
22 years$6,171$4,875$3,814$2,958$2,278$654
23 years$5,840$4,560$3,522$2,694$2,045$547
24 years$5,538$4,272$3,257$2,457$1,838$458
25 years$5,259$4,009$3,016$2,244$1,654$384
26 years$5,003$3,768$2,798$2,052$1,490$321
27 years$4,766$3,546$2,598$1,878$1,343$269
28 years$4,547$3,341$2,415$1,721$1,212$226
29 years$4,343$3,152$2,247$1,578$1,094$189
30 years$4,153$2,977$2,093$1,448$989$159
31 years$3,975$2,814$1,952$1,330$894$133
32 years$3,809$2,663$1,821$1,222$809$112
33 years$3,653$2,522$1,700$1,124$732$94
34 years$3,507$2,390$1,589$1,034$663$79
35 years$3,370$2,267$1,485$952$600$66
36 years$3,240$2,152$1,389$877$544$55
37 years$3,118$2,044$1,300$808$493$47
38 years$3,002$1,942$1,218$745$447$39
39 years$2,893$1,847$1,141$687$405$33
40 years$2,789$1,757$1,069$633$368$28
41 years$2,691$1,673$1,003$584$333$23
42 years$2,597$1,593$941$539$303$19
43 years$2,508$1,518$883$498$275$16
44 years$2,424$1,447$828$460$249$14
45 years$2,343$1,380$778$424$226$11
46 years$2,266$1,316$731$392$205$10
47 years$2,193$1,256$686$362$187$8
48 years$2,123$1,199$645$335$169$7
49 years$2,056$1,145$606$309$154$6
50 years$1,992$1,094$570$286$140$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $2,040,000, adding $5,899 every year, while hoping to spend $34,360 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: 30/46/24 Blend
69$2,040,000$2,040,000$2,040,000$2,040,000
70$2,254,165$2,146,045$2,114,425$2,304,869
71$2,447,531$2,214,642$2,148,699$2,413,007
72$2,659,469$2,285,449$2,182,970$2,525,812
73$2,891,836$2,358,538$2,217,202$2,646,464
74$3,146,680$2,433,983$2,251,354$2,775,667
75$3,426,254$2,511,861$2,285,387$2,914,192
76$3,733,041$2,592,251$2,319,257$3,062,888
77$4,069,775$2,675,235$2,352,916$3,222,687
78$4,439,469$2,760,899$2,386,315$3,394,613
79$4,845,441$2,849,329$2,419,403$3,579,793
80$5,291,346$2,940,616$2,452,123$3,779,465
81$5,781,211$3,034,854$2,484,417$3,994,992
82$6,319,472$3,132,139$2,516,223$4,227,870
83$6,911,016$3,232,572$2,547,474$4,479,748
84$7,561,226$3,336,255$2,578,101$4,752,437
85$8,276,035$3,443,295$2,608,031$5,047,933
86$9,061,976$3,553,802$2,637,186$5,368,430
87$9,926,250$3,667,890$2,665,483$5,716,342
88$10,876,787$3,785,677$2,692,837$6,094,327
89$11,922,329$3,907,284$2,719,157$6,505,311
90$13,072,503$4,032,838$2,744,345$6,952,515
91$14,337,919$4,162,468$2,768,301$7,439,482
92$15,730,267$4,296,308$2,790,919$7,970,116
93$17,262,424$4,434,498$2,812,085$8,548,715
94$18,948,584$4,577,181$2,831,682$9,180,010
95$20,804,382$4,724,505$2,849,586$9,869,211
96$22,847,046$4,876,623$2,865,665$10,622,055
97$25,095,563$5,033,695$2,879,782$11,444,863
98$27,570,848$5,195,884$2,891,793$12,344,592
99$30,295,952$5,363,360$2,901,545$13,328,907
100$33,296,272$5,536,298$2,908,880$14,406,250