Can I retire at age 70 with 2,340,000?

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 $2,340,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$193,235$191,514$189,834$188,195$186,595$184,800
2 years$95,661$93,879$92,153$90,479$88,855$87,047
3 years$63,140$61,351$59,629$57,970$56,373$54,608
4 years$46,883$45,100$43,395$41,764$40,206$38,497
5 years$37,132$35,359$33,676$32,079$30,564$28,916
6 years$30,633$28,873$27,215$25,654$24,184$22,600
7 years$25,992$24,247$22,616$21,092$19,668$18,149
8 years$22,514$20,785$19,180$17,693$16,317$14,861
9 years$19,810$18,097$16,520$15,071$13,741$12,349
10 years$17,647$15,951$14,402$12,991$11,708$10,379
11 years$15,880$14,201$12,680$11,306$10,069$8,802
12 years$14,408$12,746$11,253$9,917$8,726$7,519
13 years$13,163$11,518$10,054$8,755$7,609$6,461
14 years$12,097$10,470$9,033$7,772$6,670$5,580
15 years$11,174$9,564$8,156$6,931$5,873$4,839
16 years$10,367$8,775$7,394$6,206$5,190$4,211
17 years$9,656$8,082$6,729$5,576$4,602$3,675
18 years$9,024$7,468$6,142$5,025$4,092$3,215
19 years$8,460$6,921$5,623$4,541$3,647$2,820
20 years$7,953$6,431$5,161$4,112$3,258$2,477
21 years$7,495$5,991$4,747$3,732$2,915$2,180
22 years$7,078$5,592$4,375$3,394$2,613$1,921
23 years$6,699$5,230$4,039$3,091$2,346$1,695
24 years$6,352$4,900$3,736$2,819$2,108$1,497
25 years$6,033$4,599$3,460$2,574$1,897$1,323
26 years$5,739$4,322$3,209$2,354$1,709$1,171
27 years$5,467$4,067$2,980$2,154$1,541$1,037
28 years$5,215$3,833$2,770$1,974$1,390$919
29 years$4,981$3,616$2,578$1,810$1,255$814
30 years$4,763$3,415$2,401$1,661$1,134$722
31 years$4,560$3,228$2,239$1,526$1,026$641
32 years$4,369$3,054$2,089$1,402$928$569
33 years$4,191$2,893$1,950$1,289$840$505
34 years$4,023$2,741$1,822$1,186$760$449
35 years$3,865$2,600$1,704$1,092$688$399
36 years$3,716$2,468$1,594$1,006$624$355
37 years$3,576$2,344$1,492$927$565$315
38 years$3,444$2,228$1,397$854$513$280
39 years$3,318$2,118$1,309$788$465$249
40 years$3,199$2,015$1,227$726$422$222
41 years$3,086$1,918$1,150$670$382$197
42 years$2,979$1,827$1,079$619$347$175
43 years$2,877$1,741$1,012$571$315$156
44 years$2,780$1,659$950$527$286$139
45 years$2,688$1,582$892$487$260$124
46 years$2,600$1,510$838$450$236$110
47 years$2,516$1,441$787$416$214$98
48 years$2,435$1,375$740$384$194$87
49 years$2,358$1,313$695$355$177$78
50 years$2,285$1,254$654$328$160$69

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $2,340,000, adding $3,106 every year, while hoping to spend $25,191 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: 41/45/14 Blend
69$2,340,000$2,340,000$2,340,000$2,340,000
70$2,581,884$2,457,864$2,421,594$2,676,942
71$2,818,433$2,551,496$2,475,914$2,837,936
72$3,078,266$2,648,872$2,531,210$3,009,358
73$3,363,731$2,750,149$2,587,487$3,194,347
74$3,677,415$2,855,489$2,644,752$3,394,149
75$4,022,168$2,965,065$2,703,008$3,610,133
76$4,401,130$3,079,054$2,762,259$3,843,803
77$4,817,760$3,197,643$2,822,510$4,096,810
78$5,275,870$3,321,026$2,883,762$4,370,969
79$5,779,658$3,449,405$2,946,018$4,668,271
80$6,333,750$3,582,993$3,009,276$4,990,908
81$6,943,244$3,722,011$3,073,538$5,341,288
82$7,613,754$3,866,689$3,138,801$5,722,055
83$8,351,469$4,017,269$3,205,063$6,136,119
84$9,163,206$4,174,002$3,272,320$6,586,680
85$10,056,477$4,337,152$3,340,566$7,077,253
86$11,039,557$4,506,992$3,409,795$7,611,708
87$12,121,568$4,683,811$3,479,999$8,194,299
88$13,312,557$4,867,907$3,551,168$8,829,707
89$14,623,596$5,059,593$3,623,291$9,523,079
90$16,066,886$5,259,196$3,696,354$10,280,082
91$17,655,870$5,467,057$3,770,343$11,106,947
92$19,405,360$5,683,534$3,845,241$12,010,534
93$21,331,678$5,908,999$3,921,028$12,998,391
94$23,452,811$6,143,842$3,997,684$14,078,824
95$25,788,576$6,388,468$4,075,185$15,260,978
96$28,360,812$6,643,304$4,153,505$16,554,914
97$31,193,582$6,908,794$4,232,615$17,971,713
98$34,313,404$7,185,402$4,312,484$19,523,570
99$37,749,498$7,473,613$4,393,079$21,223,911
100$41,534,061$7,773,934$4,474,361$23,087,518