Can I retire at age 70 with 2,900,000?

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 $2,900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$239,479$237,346$235,265$233,234$231,250$229,217
2 years$118,554$116,346$114,206$112,132$110,119$108,070
3 years$78,251$76,033$73,899$71,844$69,864$67,863
4 years$58,103$55,893$53,780$51,759$49,828$47,890
5 years$46,018$43,821$41,735$39,756$37,878$36,009
6 years$37,964$35,783$33,728$31,793$29,972$28,174
7 years$32,213$30,050$28,028$26,139$24,375$22,650
8 years$27,902$25,759$23,770$21,927$20,221$18,568
9 years$24,550$22,428$20,473$18,677$17,029$15,448
10 years$21,871$19,769$17,849$16,100$14,510$12,999
11 years$19,680$17,599$15,714$14,012$12,479$11,037
12 years$17,855$15,796$13,946$12,290$10,814$9,440
13 years$16,313$14,275$12,460$10,850$9,430$8,123
14 years$14,992$12,975$11,195$9,632$8,266$7,024
15 years$13,848$11,853$10,108$8,590$7,278$6,099
16 years$12,848$10,875$9,164$7,691$6,433$5,315
17 years$11,967$10,016$8,339$6,911$5,704$4,645
18 years$11,184$9,255$7,612$6,228$5,071$4,070
19 years$10,485$8,577$6,969$5,627$4,520$3,574
20 years$9,856$7,970$6,396$5,097$4,038$3,145
21 years$9,288$7,424$5,883$4,626$3,613$2,771
22 years$8,772$6,930$5,422$4,206$3,239$2,446
23 years$8,302$6,482$5,006$3,830$2,907$2,161
24 years$7,872$6,073$4,630$3,493$2,613$1,912
25 years$7,477$5,699$4,288$3,190$2,351$1,693
26 years$7,112$5,356$3,977$2,917$2,118$1,500
27 years$6,776$5,041$3,693$2,670$1,910$1,331
28 years$6,463$4,750$3,433$2,446$1,723$1,181
29 years$6,173$4,481$3,195$2,243$1,556$1,049
30 years$5,903$4,232$2,976$2,059$1,406$932
31 years$5,651$4,001$2,774$1,891$1,271$828
32 years$5,415$3,785$2,588$1,738$1,150$736
33 years$5,193$3,585$2,417$1,598$1,040$655
34 years$4,986$3,398$2,258$1,470$942$583
35 years$4,790$3,223$2,111$1,354$853$519
36 years$4,606$3,059$1,975$1,247$773$462
37 years$4,432$2,905$1,849$1,149$701$411
38 years$4,268$2,761$1,731$1,059$635$366
39 years$4,112$2,625$1,622$976$576$326
40 years$3,965$2,498$1,520$900$522$291
41 years$3,825$2,378$1,425$831$474$259
42 years$3,692$2,264$1,337$767$430$231
43 years$3,566$2,157$1,255$708$390$206
44 years$3,446$2,056$1,178$653$354$183
45 years$3,331$1,961$1,106$603$322$163
46 years$3,222$1,871$1,039$557$292$146
47 years$3,118$1,785$976$515$265$130
48 years$3,018$1,704$917$476$241$116
49 years$2,923$1,628$862$440$219$103
50 years$2,831$1,555$810$406$199$92

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $2,900,000, adding $6,857 every year, while hoping to spend $58,563 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: 76/5/19 Blend
69$2,900,000$2,900,000$2,900,000$2,900,000
70$3,202,873$3,049,173$3,004,223$3,431,713
71$3,467,255$3,136,272$3,042,554$3,671,224
72$3,756,642$3,225,676$3,080,206$3,925,843
73$4,073,522$3,317,436$3,117,095$4,203,468
74$4,420,635$3,411,604$3,153,131$4,506,377
75$4,800,999$3,508,232$3,188,221$4,837,084
76$5,217,938$3,607,373$3,222,264$5,198,356
77$5,675,113$3,709,080$3,255,155$5,593,240
78$6,176,556$3,813,406$3,286,784$6,025,095
79$6,726,707$3,920,405$3,317,033$6,497,621
80$7,330,458$4,030,132$3,345,781$7,014,892
81$7,993,197$4,142,641$3,372,897$7,581,399
82$8,720,859$4,257,986$3,398,245$8,202,088
83$9,519,982$4,376,222$3,421,681$8,882,411
84$10,397,767$4,497,404$3,443,055$9,628,373
85$11,362,149$4,621,587$3,462,207$10,446,590
86$12,421,868$4,748,824$3,478,970$11,344,353
87$13,586,553$4,879,171$3,493,170$12,329,695
88$14,866,812$5,012,681$3,504,622$13,411,467
89$16,274,332$5,149,407$3,513,132$14,599,422
90$17,821,988$5,289,403$3,518,496$15,904,308
91$19,523,968$5,432,720$3,520,502$17,337,966
92$21,395,899$5,579,410$3,518,926$18,913,446
93$23,455,003$5,729,524$3,513,532$20,645,126
94$25,720,252$5,883,109$3,504,075$22,548,851
95$28,212,551$6,040,215$3,490,295$24,642,081
96$30,954,933$6,200,887$3,471,921$26,944,057
97$33,972,776$6,365,170$3,448,670$29,475,980
98$37,294,043$6,533,107$3,420,244$32,261,213
99$40,949,544$6,704,738$3,386,331$35,325,503
100$44,973,229$6,880,102$3,346,605$38,697,220