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%15.6%
1 years$193,235$191,514$189,834$188,195$186,595$182,306
2 years$95,661$93,879$92,153$90,479$88,855$84,558
3 years$63,140$61,351$59,629$57,970$56,373$52,202
4 years$46,883$45,100$43,395$41,764$40,206$36,192
5 years$37,132$35,359$33,676$32,079$30,564$26,720
6 years$30,633$28,873$27,215$25,654$24,184$20,513
7 years$25,992$24,247$22,616$21,092$19,668$16,171
8 years$22,514$20,785$19,180$17,693$16,317$12,992
9 years$19,810$18,097$16,520$15,071$13,741$10,586
10 years$17,647$15,951$14,402$12,991$11,708$8,719
11 years$15,880$14,201$12,680$11,306$10,069$7,243
12 years$14,408$12,746$11,253$9,917$8,726$6,057
13 years$13,163$11,518$10,054$8,755$7,609$5,094
14 years$12,097$10,470$9,033$7,772$6,670$4,302
15 years$11,174$9,564$8,156$6,931$5,873$3,647
16 years$10,367$8,775$7,394$6,206$5,190$3,101
17 years$9,656$8,082$6,729$5,576$4,602$2,644
18 years$9,024$7,468$6,142$5,025$4,092$2,259
19 years$8,460$6,921$5,623$4,541$3,647$1,933
20 years$7,953$6,431$5,161$4,112$3,258$1,657
21 years$7,495$5,991$4,747$3,732$2,915$1,422
22 years$7,078$5,592$4,375$3,394$2,613$1,222
23 years$6,699$5,230$4,039$3,091$2,346$1,051
24 years$6,352$4,900$3,736$2,819$2,108$905
25 years$6,033$4,599$3,460$2,574$1,897$779
26 years$5,739$4,322$3,209$2,354$1,709$672
27 years$5,467$4,067$2,980$2,154$1,541$579
28 years$5,215$3,833$2,770$1,974$1,390$500
29 years$4,981$3,616$2,578$1,810$1,255$431
30 years$4,763$3,415$2,401$1,661$1,134$372
31 years$4,560$3,228$2,239$1,526$1,026$321
32 years$4,369$3,054$2,089$1,402$928$278
33 years$4,191$2,893$1,950$1,289$840$240
34 years$4,023$2,741$1,822$1,186$760$207
35 years$3,865$2,600$1,704$1,092$688$179
36 years$3,716$2,468$1,594$1,006$624$155
37 years$3,576$2,344$1,492$927$565$134
38 years$3,444$2,228$1,397$854$513$116
39 years$3,318$2,118$1,309$788$465$100
40 years$3,199$2,015$1,227$726$422$86
41 years$3,086$1,918$1,150$670$382$75
42 years$2,979$1,827$1,079$619$347$65
43 years$2,877$1,741$1,012$571$315$56
44 years$2,780$1,659$950$527$286$48
45 years$2,688$1,582$892$487$260$42
46 years$2,600$1,510$838$450$236$36
47 years$2,516$1,441$787$416$214$31
48 years$2,435$1,375$740$384$194$27
49 years$2,358$1,313$695$355$177$23
50 years$2,285$1,254$654$328$160$20

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 $2,554 every year, while hoping to spend $46,538 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: 44/35/21 Blend
69$2,340,000$2,340,000$2,340,000$2,340,000
70$2,581,314$2,457,294$2,421,024$2,679,089
71$2,795,092$2,528,186$2,452,613$2,819,230
72$3,029,116$2,600,991$2,483,699$2,966,289
73$3,285,401$2,675,755$2,514,219$3,124,741
74$3,566,168$2,752,523$2,544,101$3,295,664
75$3,873,861$2,831,340$2,573,272$3,480,246
76$4,211,173$2,912,254$2,601,655$3,679,791
77$4,581,069$2,995,311$2,629,167$3,895,738
78$4,986,816$3,080,559$2,655,722$4,129,668
79$5,432,011$3,168,047$2,681,228$4,383,325
80$5,920,617$3,257,822$2,705,591$4,658,627
81$6,456,999$3,349,934$2,728,707$4,957,687
82$7,045,966$3,444,433$2,750,471$5,282,830
83$7,692,812$3,541,369$2,770,770$5,636,620
84$8,403,374$3,640,791$2,789,486$6,021,879
85$9,184,079$3,742,751$2,806,495$6,441,714
86$10,042,009$3,847,298$2,821,665$6,899,550
87$10,984,963$3,954,486$2,834,860$7,399,159
88$12,021,537$4,064,363$2,845,936$7,944,695
89$13,161,198$4,176,981$2,854,739$8,540,736
90$14,414,380$4,292,393$2,861,112$9,192,323
91$15,792,574$4,410,647$2,864,887$9,905,012
92$17,308,443$4,531,796$2,865,888$10,684,924
93$18,975,940$4,655,889$2,863,930$11,538,802
94$20,810,435$4,782,977$2,858,821$12,474,077
95$22,828,866$4,913,110$2,850,358$13,498,935
96$25,049,893$5,046,335$2,838,328$14,622,396
97$27,494,078$5,182,702$2,822,508$15,854,400
98$30,184,077$5,322,257$2,802,665$17,205,899
99$33,144,852$5,465,047$2,778,554$18,688,961
100$36,403,910$5,611,116$2,749,918$20,316,884