Can I retire at age 70 with 2,420,000?

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 $2,420,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$199,841$198,061$196,325$194,629$192,974$191,678
2 years$98,931$97,089$95,303$93,572$91,892$90,585
3 years$65,299$63,449$61,667$59,952$58,300$57,022
4 years$48,486$46,641$44,878$43,192$41,580$40,341
5 years$38,401$36,567$34,827$33,176$31,609$30,413
6 years$31,680$29,860$28,146$26,531$25,011$23,859
7 years$26,881$25,076$23,389$21,813$20,341$19,234
8 years$23,283$21,495$19,836$18,298$16,874$15,813
9 years$20,487$18,715$17,085$15,586$14,211$13,194
10 years$18,251$16,497$14,895$13,435$12,108$11,136
11 years$16,423$14,686$13,113$11,693$10,413$9,485
12 years$14,900$13,181$11,638$10,256$9,024$8,138
13 years$13,613$11,912$10,397$9,055$7,869$7,025
14 years$12,510$10,828$9,342$8,038$6,898$6,094
15 years$11,556$9,891$8,435$7,168$6,074$5,310
16 years$10,722$9,075$7,647$6,418$5,368$4,643
17 years$9,986$8,358$6,959$5,767$4,760$4,072
18 years$9,333$7,723$6,352$5,197$4,232$3,580
19 years$8,749$7,158$5,815$4,696$3,772$3,155
20 years$8,225$6,651$5,337$4,253$3,369$2,786
21 years$7,751$6,195$4,909$3,860$3,015$2,465
22 years$7,320$5,783$4,524$3,510$2,703$2,183
23 years$6,928$5,409$4,177$3,196$2,426$1,937
24 years$6,569$5,068$3,863$2,915$2,181$1,720
25 years$6,239$4,756$3,578$2,662$1,962$1,529
26 years$5,935$4,470$3,319$2,434$1,767$1,360
27 years$5,654$4,207$3,082$2,228$1,594$1,211
28 years$5,394$3,964$2,865$2,041$1,438$1,079
29 years$5,152$3,739$2,666$1,872$1,298$962
30 years$4,926$3,531$2,483$1,718$1,173$858
31 years$4,716$3,338$2,315$1,578$1,061$766
32 years$4,519$3,159$2,160$1,450$959$684
33 years$4,334$2,991$2,017$1,334$868$611
34 years$4,160$2,835$1,884$1,227$786$546
35 years$3,997$2,689$1,762$1,129$712$488
36 years$3,844$2,552$1,648$1,040$645$436
37 years$3,698$2,424$1,543$958$585$390
38 years$3,561$2,304$1,445$883$530$349
39 years$3,432$2,191$1,353$815$481$312
40 years$3,309$2,084$1,269$751$436$279
41 years$3,192$1,984$1,190$693$396$250
42 years$3,081$1,890$1,116$640$359$224
43 years$2,976$1,800$1,047$591$326$200
44 years$2,875$1,716$983$545$296$179
45 years$2,780$1,636$923$504$268$160
46 years$2,689$1,561$867$465$244$144
47 years$2,602$1,490$814$430$221$129
48 years$2,518$1,422$765$397$201$115
49 years$2,439$1,358$719$367$183$103
50 years$2,363$1,297$676$339$166$92

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $2,420,000, adding $4,506 every year, while hoping to spend $22,427 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: 60/13/27 Blend
69$2,420,000$2,420,000$2,420,000$2,420,000
70$2,671,488$2,543,228$2,505,718$2,812,060
71$2,920,118$2,643,984$2,565,797$3,009,143
72$3,193,356$2,748,925$2,627,138$3,221,293
73$3,493,689$2,858,234$2,689,758$3,452,313
74$3,823,856$2,972,098$2,753,676$3,704,045
75$4,186,876$3,090,717$2,818,910$3,978,516
76$4,586,072$3,214,297$2,885,479$4,277,958
77$5,025,109$3,343,055$2,953,400$4,604,828
78$5,508,022$3,477,217$3,022,691$4,961,831
79$6,039,259$3,617,019$3,093,369$5,351,943
80$6,623,718$3,762,708$3,165,452$5,778,443
81$7,266,798$3,914,542$3,238,955$6,244,940
82$7,974,448$4,072,790$3,313,897$6,755,409
83$8,753,221$4,237,736$3,390,291$7,314,226
84$9,610,337$4,409,673$3,468,154$7,926,209
85$10,553,755$4,588,911$3,547,501$8,596,667
86$11,592,241$4,775,771$3,628,345$9,331,445
87$12,735,456$4,970,590$3,710,701$10,136,978
88$13,994,044$5,173,720$3,794,581$11,020,359
89$15,379,735$5,385,531$3,879,998$11,989,395
90$16,905,453$5,606,406$3,966,962$13,052,687
91$18,585,438$5,836,749$4,055,485$14,219,711
92$20,435,385$6,076,982$4,145,575$15,500,903
93$22,472,584$6,327,544$4,237,242$16,907,758
94$24,716,091$6,588,897$4,330,493$18,452,940
95$27,186,901$6,861,522$4,425,333$20,150,400
96$29,908,152$7,145,923$4,521,769$22,015,506
97$32,905,338$7,442,628$4,619,803$24,065,188
98$36,206,554$7,752,188$4,719,437$26,318,098
99$39,842,757$8,075,180$4,820,673$28,794,784
100$43,848,061$8,412,207$4,923,509$31,517,885