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

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 $2,420,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$199,841$198,061$196,325$194,629$192,974$188,462
2 years$98,931$97,089$95,303$93,572$91,892$87,372
3 years$65,299$63,449$61,667$59,952$58,300$53,913
4 years$48,486$46,641$44,878$43,192$41,580$37,360
5 years$38,401$36,567$34,827$33,176$31,609$27,567
6 years$31,680$29,860$28,146$26,531$25,011$21,152
7 years$26,881$25,076$23,389$21,813$20,341$16,665
8 years$23,283$21,495$19,836$18,298$16,874$13,381
9 years$20,487$18,715$17,085$15,586$14,211$10,897
10 years$18,251$16,497$14,895$13,435$12,108$8,970
11 years$16,423$14,686$13,113$11,693$10,413$7,446
12 years$14,900$13,181$11,638$10,256$9,024$6,223
13 years$13,613$11,912$10,397$9,055$7,869$5,230
14 years$12,510$10,828$9,342$8,038$6,898$4,414
15 years$11,556$9,891$8,435$7,168$6,074$3,739
16 years$10,722$9,075$7,647$6,418$5,368$3,178
17 years$9,986$8,358$6,959$5,767$4,760$2,707
18 years$9,333$7,723$6,352$5,197$4,232$2,311
19 years$8,749$7,158$5,815$4,696$3,772$1,976
20 years$8,225$6,651$5,337$4,253$3,369$1,693
21 years$7,751$6,195$4,909$3,860$3,015$1,452
22 years$7,320$5,783$4,524$3,510$2,703$1,247
23 years$6,928$5,409$4,177$3,196$2,426$1,071
24 years$6,569$5,068$3,863$2,915$2,181$921
25 years$6,239$4,756$3,578$2,662$1,962$793
26 years$5,935$4,470$3,319$2,434$1,767$683
27 years$5,654$4,207$3,082$2,228$1,594$588
28 years$5,394$3,964$2,865$2,041$1,438$507
29 years$5,152$3,739$2,666$1,872$1,298$437
30 years$4,926$3,531$2,483$1,718$1,173$377
31 years$4,716$3,338$2,315$1,578$1,061$325
32 years$4,519$3,159$2,160$1,450$959$281
33 years$4,334$2,991$2,017$1,334$868$242
34 years$4,160$2,835$1,884$1,227$786$209
35 years$3,997$2,689$1,762$1,129$712$181
36 years$3,844$2,552$1,648$1,040$645$156
37 years$3,698$2,424$1,543$958$585$135
38 years$3,561$2,304$1,445$883$530$116
39 years$3,432$2,191$1,353$815$481$101
40 years$3,309$2,084$1,269$751$436$87
41 years$3,192$1,984$1,190$693$396$75
42 years$3,081$1,890$1,116$640$359$65
43 years$2,976$1,800$1,047$591$326$56
44 years$2,875$1,716$983$545$296$48
45 years$2,780$1,636$923$504$268$42
46 years$2,689$1,561$867$465$244$36
47 years$2,602$1,490$814$430$221$31
48 years$2,518$1,422$765$397$201$27
49 years$2,439$1,358$719$367$183$23
50 years$2,363$1,297$676$339$166$20

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 $6,839 every year, while hoping to spend $34,839 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: 66/8/26 Blend
69$2,420,000$2,420,000$2,420,000$2,420,000
70$2,673,894$2,545,634$2,508,124$2,831,801
71$2,909,563$2,633,302$2,555,078$3,026,709
72$3,168,103$2,724,098$2,602,437$3,235,189
73$3,451,809$2,818,138$2,650,178$3,462,350
74$3,763,210$2,915,544$2,698,276$3,710,037
75$4,105,093$3,016,441$2,746,704$3,980,278
76$4,480,526$3,120,961$2,795,433$4,275,309
77$4,892,890$3,229,238$2,844,430$4,597,591
78$5,345,909$3,341,414$2,893,662$4,949,836
79$5,843,684$3,457,636$2,943,093$5,335,030
80$6,390,737$3,578,057$2,992,683$5,756,463
81$6,992,045$3,702,835$3,042,390$6,217,758
82$7,653,094$3,832,134$3,092,171$6,722,907
83$8,379,928$3,966,127$3,141,977$7,276,307
84$9,179,205$4,104,992$3,191,757$7,882,802
85$10,058,260$4,248,913$3,241,458$8,547,730
86$11,025,177$4,398,084$3,291,021$9,276,968
87$12,088,860$4,552,704$3,340,385$10,076,995
88$13,259,120$4,712,984$3,389,485$10,954,946
89$14,546,769$4,879,139$3,438,251$11,918,685
90$15,963,717$5,051,394$3,486,610$12,976,873
91$17,523,090$5,229,986$3,534,485$14,139,056
92$19,239,347$5,415,157$3,581,792$15,415,749
93$21,128,422$5,607,162$3,628,444$16,818,540
94$23,207,874$5,806,265$3,674,349$18,360,195
95$25,497,046$6,012,741$3,719,409$20,054,782
96$28,017,256$6,226,877$3,763,521$21,917,801
97$30,791,992$6,448,970$3,806,575$23,966,332
98$33,847,136$6,679,330$3,848,456$26,219,193
99$37,211,207$6,918,280$3,889,042$28,697,124
100$40,915,630$7,166,156$3,928,205$31,422,973