Can I retire at age 70 with 2,830,000?

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 $2,830,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.3%
1 years$233,699$231,617$229,586$227,604$225,668$218,971
2 years$115,692$113,538$111,450$109,425$107,461$100,769
3 years$76,362$74,198$72,115$70,110$68,178$61,701
4 years$56,701$54,544$52,481$50,510$48,625$42,412
5 years$44,907$42,763$40,728$38,797$36,964$31,033
6 years$37,047$34,919$32,914$31,026$29,248$23,604
7 years$31,435$29,325$27,352$25,508$23,787$18,429
8 years$27,228$25,137$23,196$21,398$19,733$14,659
9 years$23,958$21,886$19,979$18,226$16,618$11,823
10 years$21,343$19,292$17,418$15,711$14,160$9,635
11 years$19,205$17,174$15,335$13,674$12,178$7,917
12 years$17,424$15,415$13,609$11,994$10,553$6,548
13 years$15,919$13,930$12,159$10,589$9,202$5,443
14 years$14,630$12,662$10,925$9,399$8,067$4,544
15 years$13,514$11,567$9,864$8,383$7,103$3,807
16 years$12,538$10,613$8,943$7,506$6,277$3,198
17 years$11,678$9,774$8,138$6,744$5,566$2,693
18 years$10,914$9,032$7,429$6,077$4,949$2,272
19 years$10,232$8,370$6,801$5,492$4,411$1,920
20 years$9,618$7,778$6,241$4,974$3,940$1,624
21 years$9,064$7,245$5,741$4,514$3,526$1,376
22 years$8,561$6,763$5,291$4,104$3,160$1,167
23 years$8,102$6,325$4,885$3,738$2,837$990
24 years$7,682$5,926$4,518$3,409$2,550$841
25 years$7,296$5,562$4,185$3,113$2,295$715
26 years$6,941$5,227$3,881$2,847$2,067$608
27 years$6,612$4,919$3,604$2,606$1,863$517
28 years$6,307$4,635$3,350$2,387$1,681$440
29 years$6,024$4,373$3,118$2,189$1,518$374
30 years$5,761$4,130$2,904$2,009$1,372$319
31 years$5,514$3,904$2,707$1,845$1,240$271
32 years$5,284$3,694$2,526$1,696$1,122$231
33 years$5,068$3,498$2,359$1,559$1,015$197
34 years$4,865$3,316$2,204$1,435$919$168
35 years$4,674$3,145$2,060$1,321$833$143
36 years$4,495$2,985$1,927$1,216$754$122
37 years$4,325$2,835$1,804$1,121$684$104
38 years$4,165$2,694$1,689$1,033$620$88
39 years$4,013$2,562$1,583$953$562$75
40 years$3,869$2,437$1,483$879$510$64
41 years$3,733$2,320$1,391$811$463$55
42 years$3,603$2,210$1,305$748$420$47
43 years$3,480$2,105$1,224$691$381$40
44 years$3,362$2,007$1,149$638$346$34
45 years$3,251$1,914$1,079$589$314$29
46 years$3,144$1,826$1,014$544$285$25
47 years$3,042$1,742$952$503$259$21
48 years$2,945$1,663$895$464$235$18
49 years$2,852$1,588$841$429$213$15
50 years$2,763$1,517$791$397$194$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $2,830,000, adding $6,988 every year, while hoping to spend $43,372 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: 61/26/13 Blend
69$2,830,000$2,830,000$2,830,000$2,830,000
70$3,125,868$2,975,878$2,932,013$3,306,271
71$3,398,559$3,075,549$2,984,088$3,527,992
72$3,697,611$3,178,649$3,036,454$3,764,291
73$4,025,667$3,285,303$3,089,075$4,021,094
74$4,385,638$3,395,635$3,141,911$4,300,388
75$4,780,730$3,509,779$3,194,923$4,604,357
76$5,214,476$3,627,870$3,248,064$4,935,408
77$5,690,767$3,750,050$3,301,289$5,296,190
78$6,213,889$3,876,465$3,354,545$5,689,615
79$6,788,563$4,007,269$3,407,780$6,118,893
80$7,419,990$4,142,620$3,460,935$6,587,557
81$8,113,902$4,282,681$3,513,949$7,099,493
82$8,876,610$4,427,622$3,566,756$7,658,984
83$9,715,070$4,577,622$3,619,288$8,270,745
84$10,636,944$4,732,862$3,671,471$8,939,965
85$11,650,673$4,893,533$3,723,226$9,672,362
86$12,765,559$5,059,833$3,774,471$10,474,230
87$13,991,848$5,231,967$3,825,119$11,352,503
88$15,340,832$5,410,149$3,875,075$12,314,815
89$16,824,948$5,594,598$3,924,242$13,369,575
90$18,457,904$5,785,544$3,972,515$14,526,047
91$20,254,802$5,983,227$4,019,786$15,794,433
92$22,232,280$6,187,893$4,065,937$17,185,968
93$24,408,672$6,399,800$4,110,845$18,713,033
94$26,804,181$6,619,214$4,154,383$20,389,263
95$29,441,065$6,846,413$4,196,412$22,229,677
96$32,343,851$7,081,685$4,236,789$24,250,823
97$35,539,564$7,325,329$4,275,363$26,470,930
98$39,057,985$7,577,655$4,311,973$28,910,080
99$42,931,927$7,838,987$4,346,451$31,590,395
100$47,197,546$8,109,660$4,378,620$34,536,250