Can I retire at age 70 with 2,440,000?

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 $2,440,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.3%
1 years$201,493$199,698$197,947$196,238$194,569$190,329
2 years$99,749$97,891$96,091$94,345$92,652$88,402
3 years$65,839$63,973$62,177$60,448$58,782$54,655
4 years$48,887$47,027$45,249$43,549$41,924$37,950
5 years$38,719$36,870$35,115$33,450$31,870$28,062
6 years$31,942$30,107$28,378$26,750$25,218$21,579
7 years$27,103$25,284$23,582$21,993$20,509$17,040
8 years$23,476$21,673$20,000$18,449$17,014$13,714
9 years$20,656$18,870$17,226$15,715$14,328$11,194
10 years$18,402$16,633$15,018$13,546$12,208$9,238
11 years$16,558$14,807$13,221$11,789$10,500$7,688
12 years$15,023$13,290$11,734$10,341$9,099$6,442
13 years$13,725$12,011$10,483$9,129$7,934$5,428
14 years$12,614$10,917$9,419$8,104$6,955$4,594
15 years$11,651$9,973$8,504$7,227$6,124$3,903
16 years$10,810$9,150$7,710$6,471$5,412$3,326
17 years$10,069$8,427$7,016$5,814$4,799$2,841
18 years$9,410$7,787$6,405$5,240$4,267$2,433
19 years$8,822$7,217$5,863$4,735$3,803$2,087
20 years$8,293$6,706$5,381$4,288$3,397$1,793
21 years$7,815$6,247$4,950$3,892$3,040$1,542
22 years$7,381$5,831$4,562$3,539$2,725$1,328
23 years$6,985$5,454$4,212$3,223$2,446$1,145
24 years$6,623$5,110$3,895$2,939$2,199$988
25 years$6,291$4,795$3,608$2,684$1,978$853
26 years$5,984$4,507$3,346$2,454$1,782$737
27 years$5,701$4,241$3,107$2,247$1,607$637
28 years$5,438$3,997$2,889$2,058$1,450$551
29 years$5,194$3,770$2,688$1,888$1,309$477
30 years$4,967$3,561$2,504$1,732$1,183$413
31 years$4,754$3,366$2,334$1,591$1,069$357
32 years$4,556$3,185$2,178$1,462$967$309
33 years$4,370$3,016$2,033$1,345$875$268
34 years$4,195$2,859$1,900$1,237$793$232
35 years$4,030$2,711$1,776$1,139$718$201
36 years$3,875$2,573$1,662$1,049$650$174
37 years$3,729$2,444$1,555$966$590$151
38 years$3,591$2,323$1,457$891$534$131
39 years$3,460$2,209$1,365$821$485$113
40 years$3,336$2,102$1,279$758$440$98
41 years$3,218$2,000$1,199$699$399$85
42 years$3,106$1,905$1,125$645$362$74
43 years$3,000$1,815$1,056$595$328$64
44 years$2,899$1,730$991$550$298$56
45 years$2,803$1,650$930$508$271$48
46 years$2,711$1,574$874$469$246$42
47 years$2,623$1,502$821$433$223$36
48 years$2,539$1,434$772$400$203$31
49 years$2,459$1,369$725$370$184$27
50 years$2,382$1,308$682$342$167$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $2,440,000, adding $2,680 every year, while hoping to spend $44,464 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: 67/5/28 Blend
69$2,440,000$2,440,000$2,440,000$2,440,000
70$2,691,644$2,562,324$2,524,504$2,852,062
71$2,918,883$2,640,569$2,561,766$3,038,742
72$3,167,809$2,721,157$2,598,786$3,237,594
73$3,440,589$2,804,157$2,635,508$3,454,101
74$3,739,607$2,889,638$2,671,875$3,690,013
75$4,067,489$2,977,673$2,707,825$3,947,253
76$4,427,127$3,068,334$2,743,292$4,227,942
77$4,821,709$3,161,697$2,778,207$4,534,418
78$5,254,743$3,257,840$2,812,497$4,869,254
79$5,730,095$3,356,842$2,846,084$5,235,285
80$6,252,023$3,458,786$2,878,886$5,635,638
81$6,825,218$3,563,754$2,910,817$6,073,754
82$7,454,846$3,671,834$2,941,785$6,553,427
83$8,146,600$3,783,114$2,971,695$7,078,837
84$8,906,751$3,897,684$3,000,444$7,654,589
85$9,742,207$4,015,638$3,027,927$8,285,758
86$10,660,579$4,137,072$3,054,029$8,977,936
87$11,670,252$4,262,082$3,078,633$9,737,285
88$12,780,464$4,390,770$3,101,613$10,570,595
89$14,001,393$4,523,240$3,122,839$11,485,348
90$15,344,252$4,659,595$3,142,171$12,489,790
91$16,821,397$4,799,946$3,159,464$13,593,005
92$18,446,439$4,944,403$3,174,566$14,805,008
93$20,234,377$5,093,080$3,187,315$16,136,831
94$22,201,736$5,246,094$3,197,543$17,600,633
95$24,366,725$5,403,564$3,205,072$19,209,812
96$26,749,405$5,565,613$3,209,717$20,979,136
97$29,371,883$5,732,367$3,211,281$22,924,874
98$32,258,516$5,903,954$3,209,560$25,064,960
99$35,436,143$6,080,506$3,204,339$27,419,154
100$38,934,336$6,262,157$3,195,391$30,009,233