Can I retire at age 70 with 2,920,000?

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 $2,920,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$241,131$238,983$236,887$234,842$232,845$226,299
2 years$119,372$117,149$114,994$112,905$110,879$104,333
3 years$78,791$76,558$74,409$72,339$70,346$64,006
4 years$58,504$56,278$54,150$52,116$50,171$44,086
5 years$46,335$44,123$42,023$40,030$38,139$32,326
6 years$38,225$36,030$33,961$32,013$30,178$24,641
7 years$32,435$30,258$28,222$26,319$24,543$19,283
8 years$28,094$25,936$23,934$22,079$20,361$15,375
9 years$24,720$22,582$20,614$18,806$17,147$12,430
10 years$22,022$19,905$17,972$16,211$14,610$10,155
11 years$19,816$17,720$15,822$14,108$12,565$8,366
12 years$17,979$15,905$14,042$12,375$10,889$6,937
13 years$16,425$14,373$12,546$10,925$9,495$5,783
14 years$15,095$13,065$11,272$9,698$8,323$4,841
15 years$13,944$11,935$10,177$8,649$7,329$4,067
16 years$12,937$10,950$9,227$7,744$6,477$3,426
17 years$12,049$10,085$8,396$6,958$5,743$2,893
18 years$11,261$9,319$7,665$6,271$5,106$2,448
19 years$10,557$8,637$7,017$5,666$4,551$2,075
20 years$9,924$8,025$6,440$5,132$4,065$1,761
21 years$9,352$7,475$5,923$4,657$3,638$1,497
22 years$8,833$6,978$5,459$4,235$3,261$1,273
23 years$8,360$6,526$5,041$3,857$2,927$1,084
24 years$7,926$6,115$4,662$3,517$2,631$923
25 years$7,528$5,738$4,318$3,212$2,368$787
26 years$7,161$5,393$4,004$2,937$2,133$671
27 years$6,822$5,076$3,718$2,688$1,923$573
28 years$6,508$4,783$3,457$2,463$1,735$489
29 years$6,216$4,512$3,217$2,259$1,567$418
30 years$5,944$4,261$2,996$2,073$1,416$357
31 years$5,690$4,028$2,793$1,904$1,280$305
32 years$5,452$3,811$2,606$1,750$1,158$260
33 years$5,229$3,609$2,434$1,609$1,048$222
34 years$5,020$3,421$2,274$1,480$949$190
35 years$4,823$3,245$2,126$1,363$859$163
36 years$4,638$3,080$1,989$1,255$778$139
37 years$4,463$2,925$1,861$1,156$706$119
38 years$4,297$2,780$1,743$1,066$640$102
39 years$4,140$2,643$1,633$983$580$87
40 years$3,992$2,515$1,531$907$526$74
41 years$3,851$2,394$1,435$836$477$64
42 years$3,718$2,280$1,346$772$433$54
43 years$3,590$2,172$1,263$713$393$46
44 years$3,469$2,071$1,186$658$357$40
45 years$3,354$1,975$1,113$608$324$34
46 years$3,244$1,884$1,046$561$294$29
47 years$3,139$1,798$983$519$267$25
48 years$3,039$1,716$923$479$243$21
49 years$2,943$1,639$868$443$220$18
50 years$2,851$1,565$816$409$200$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $2,920,000, adding $4,345 every year, while hoping to spend $21,082 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: 84/10/6 Blend
69$2,920,000$2,920,000$2,920,000$2,920,000
70$3,222,322$3,067,562$3,022,302$3,491,624
71$3,528,568$3,195,441$3,101,118$3,795,903
72$3,865,344$3,328,880$3,181,868$4,126,721
73$4,235,742$3,468,129$3,264,594$4,489,396
74$4,643,170$3,613,449$3,349,339$4,887,112
75$5,091,379$3,765,114$3,436,148$5,323,375
76$5,584,506$3,923,411$3,525,066$5,802,046
77$6,127,107$4,088,639$3,616,137$6,327,377
78$6,724,202$4,261,113$3,709,407$6,904,051
79$7,381,323$4,441,160$3,804,925$7,537,226
80$8,104,565$4,629,123$3,902,736$8,232,583
81$8,900,643$4,825,363$4,002,891$8,996,379
82$9,776,958$5,030,255$4,105,437$9,835,507
83$10,741,663$5,244,192$4,210,424$10,757,560
84$11,803,742$5,467,588$4,317,903$11,770,900
85$12,973,097$5,700,872$4,427,926$12,884,740
86$14,260,635$5,944,497$4,540,543$14,109,228
87$15,678,376$6,198,934$4,655,808$15,455,545
88$17,239,567$6,464,678$4,773,774$16,936,007
89$18,958,801$6,742,246$4,894,494$18,564,182
90$20,852,163$7,032,181$5,018,024$20,355,018
91$22,937,375$7,335,048$5,144,418$22,324,983
92$25,233,963$7,651,442$5,273,733$24,492,219
93$27,763,449$7,981,984$5,406,024$26,876,716
94$30,549,544$8,327,325$5,541,350$29,500,496
95$33,618,379$8,688,145$5,679,767$32,387,822
96$36,998,748$9,065,158$5,821,333$35,565,427
97$40,722,381$9,459,111$5,966,107$39,062,764
98$44,824,241$9,870,785$6,114,149$42,912,285
99$49,342,858$10,300,998$6,265,518$47,149,746
100$54,320,691$10,750,608$6,420,274$51,814,542