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%15.8%
1 years$199,841$198,061$196,325$194,629$192,974$188,386
2 years$98,931$97,089$95,303$93,572$91,892$87,296
3 years$65,299$63,449$61,667$59,952$58,300$53,840
4 years$48,486$46,641$44,878$43,192$41,580$37,291
5 years$38,401$36,567$34,827$33,176$31,609$27,502
6 years$31,680$29,860$28,146$26,531$25,011$21,090
7 years$26,881$25,076$23,389$21,813$20,341$16,607
8 years$23,283$21,495$19,836$18,298$16,874$13,327
9 years$20,487$18,715$17,085$15,586$14,211$10,846
10 years$18,251$16,497$14,895$13,435$12,108$8,922
11 years$16,423$14,686$13,113$11,693$10,413$7,402
12 years$14,900$13,181$11,638$10,256$9,024$6,183
13 years$13,613$11,912$10,397$9,055$7,869$5,192
14 years$12,510$10,828$9,342$8,038$6,898$4,379
15 years$11,556$9,891$8,435$7,168$6,074$3,707
16 years$10,722$9,075$7,647$6,418$5,368$3,148
17 years$9,986$8,358$6,959$5,767$4,760$2,680
18 years$9,333$7,723$6,352$5,197$4,232$2,286
19 years$8,749$7,158$5,815$4,696$3,772$1,954
20 years$8,225$6,651$5,337$4,253$3,369$1,672
21 years$7,751$6,195$4,909$3,860$3,015$1,433
22 years$7,320$5,783$4,524$3,510$2,703$1,229
23 years$6,928$5,409$4,177$3,196$2,426$1,056
24 years$6,569$5,068$3,863$2,915$2,181$907
25 years$6,239$4,756$3,578$2,662$1,962$780
26 years$5,935$4,470$3,319$2,434$1,767$671
27 years$5,654$4,207$3,082$2,228$1,594$578
28 years$5,394$3,964$2,865$2,041$1,438$498
29 years$5,152$3,739$2,666$1,872$1,298$429
30 years$4,926$3,531$2,483$1,718$1,173$370
31 years$4,716$3,338$2,315$1,578$1,061$319
32 years$4,519$3,159$2,160$1,450$959$275
33 years$4,334$2,991$2,017$1,334$868$237
34 years$4,160$2,835$1,884$1,227$786$204
35 years$3,997$2,689$1,762$1,129$712$176
36 years$3,844$2,552$1,648$1,040$645$152
37 years$3,698$2,424$1,543$958$585$131
38 years$3,561$2,304$1,445$883$530$113
39 years$3,432$2,191$1,353$815$481$98
40 years$3,309$2,084$1,269$751$436$84
41 years$3,192$1,984$1,190$693$396$73
42 years$3,081$1,890$1,116$640$359$63
43 years$2,976$1,800$1,047$591$326$54
44 years$2,875$1,716$983$545$296$47
45 years$2,780$1,636$923$504$268$40
46 years$2,689$1,561$867$465$244$35
47 years$2,602$1,490$814$430$221$30
48 years$2,518$1,422$765$397$201$26
49 years$2,439$1,358$719$367$183$23
50 years$2,363$1,297$676$339$166$19

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 $6,006 every year, while hoping to spend $45,521 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: 41/44/15 Blend
69$2,420,000$2,420,000$2,420,000$2,420,000
70$2,673,035$2,544,775$2,507,265$2,770,562
71$2,897,251$2,621,035$2,542,825$2,916,315
72$3,142,811$2,699,506$2,578,050$3,069,048
73$3,411,844$2,780,249$2,612,881$3,233,378
74$3,706,695$2,863,324$2,647,256$3,410,382
75$4,029,947$2,948,796$2,681,108$3,601,246
76$4,384,444$3,036,729$2,714,366$3,807,275
77$4,773,317$3,127,188$2,746,958$4,029,903
78$5,200,018$3,220,243$2,778,803$4,270,708
79$5,668,346$3,315,962$2,809,820$4,531,426
80$6,182,489$3,414,415$2,839,920$4,813,968
81$6,747,057$3,515,676$2,869,012$5,120,438
82$7,367,131$3,619,819$2,896,998$5,453,148
83$8,048,307$3,726,918$2,923,776$5,814,648
84$8,796,749$3,837,052$2,949,237$6,207,741
85$9,619,249$3,950,298$2,973,268$6,635,514
86$10,523,288$4,066,739$2,995,749$7,101,368
87$11,517,110$4,186,456$3,016,553$7,609,045
88$12,609,797$4,309,533$3,035,548$8,162,666
89$13,811,352$4,436,056$3,052,595$8,766,770
90$15,132,799$4,566,113$3,067,547$9,426,355
91$16,586,284$4,699,792$3,080,249$10,146,927
92$18,185,188$4,837,184$3,090,540$10,934,548
93$19,944,253$4,978,382$3,098,249$11,795,895
94$21,879,725$5,123,481$3,103,198$12,738,326
95$24,009,501$5,272,576$3,105,199$13,769,940
96$26,353,302$5,425,764$3,104,056$14,899,665
97$28,932,859$5,583,147$3,099,562$16,137,332
98$31,772,113$5,744,824$3,091,500$17,493,771
99$34,897,447$5,910,898$3,079,643$18,980,916
100$38,337,929$6,081,474$3,063,753$20,611,911