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

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 $2,920,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16%
1 years$241,131$238,983$236,887$234,842$232,845$227,124
2 years$119,372$117,149$114,994$112,905$110,879$105,150
3 years$78,791$76,558$74,409$72,339$70,346$64,789
4 years$58,504$56,278$54,150$52,116$50,171$44,829
5 years$46,335$44,123$42,023$40,030$38,139$33,026
6 years$38,225$36,030$33,961$32,013$30,178$25,299
7 years$32,435$30,258$28,222$26,319$24,543$19,899
8 years$28,094$25,936$23,934$22,079$20,361$15,950
9 years$24,720$22,582$20,614$18,806$17,147$12,965
10 years$22,022$19,905$17,972$16,211$14,610$10,652
11 years$19,816$17,720$15,822$14,108$12,565$8,826
12 years$17,979$15,905$14,042$12,375$10,889$7,362
13 years$16,425$14,373$12,546$10,925$9,495$6,174
14 years$15,095$13,065$11,272$9,698$8,323$5,201
15 years$13,944$11,935$10,177$8,649$7,329$4,397
16 years$12,937$10,950$9,227$7,744$6,477$3,728
17 years$12,049$10,085$8,396$6,958$5,743$3,169
18 years$11,261$9,319$7,665$6,271$5,106$2,699
19 years$10,557$8,637$7,017$5,666$4,551$2,303
20 years$9,924$8,025$6,440$5,132$4,065$1,968
21 years$9,352$7,475$5,923$4,657$3,638$1,684
22 years$8,833$6,978$5,459$4,235$3,261$1,443
23 years$8,360$6,526$5,041$3,857$2,927$1,237
24 years$7,926$6,115$4,662$3,517$2,631$1,061
25 years$7,528$5,738$4,318$3,212$2,368$911
26 years$7,161$5,393$4,004$2,937$2,133$783
27 years$6,822$5,076$3,718$2,688$1,923$673
28 years$6,508$4,783$3,457$2,463$1,735$579
29 years$6,216$4,512$3,217$2,259$1,567$498
30 years$5,944$4,261$2,996$2,073$1,416$428
31 years$5,690$4,028$2,793$1,904$1,280$369
32 years$5,452$3,811$2,606$1,750$1,158$317
33 years$5,229$3,609$2,434$1,609$1,048$273
34 years$5,020$3,421$2,274$1,480$949$235
35 years$4,823$3,245$2,126$1,363$859$203
36 years$4,638$3,080$1,989$1,255$778$175
37 years$4,463$2,925$1,861$1,156$706$150
38 years$4,297$2,780$1,743$1,066$640$130
39 years$4,140$2,643$1,633$983$580$112
40 years$3,992$2,515$1,531$907$526$96
41 years$3,851$2,394$1,435$836$477$83
42 years$3,718$2,280$1,346$772$433$71
43 years$3,590$2,172$1,263$713$393$62
44 years$3,469$2,071$1,186$658$357$53
45 years$3,354$1,975$1,113$608$324$46
46 years$3,244$1,884$1,046$561$294$39
47 years$3,139$1,798$983$519$267$34
48 years$3,039$1,716$923$479$243$29
49 years$2,943$1,639$868$443$220$25
50 years$2,851$1,565$816$409$200$22

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 $6,854 every year, while hoping to spend $29,571 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: 54/28/18 Blend
69$2,920,000$2,920,000$2,920,000$2,920,000
70$3,224,910$3,070,150$3,024,890$3,383,035
71$3,522,387$3,189,124$3,094,760$3,610,884
72$3,849,217$3,312,937$3,165,980$3,855,063
73$4,208,360$3,441,794$3,238,564$4,120,210
74$4,603,081$3,575,910$3,312,525$4,408,331
75$5,036,977$3,715,511$3,387,875$4,721,636
76$5,514,007$3,860,830$3,464,628$5,062,553
77$6,038,538$4,012,112$3,542,795$5,433,753
78$6,615,376$4,169,614$3,622,386$5,838,175
79$7,249,821$4,333,601$3,703,413$6,279,052
80$7,947,709$4,504,354$3,785,884$6,759,942
81$8,715,472$4,682,164$3,869,807$7,284,759
82$9,560,195$4,867,334$3,955,190$7,857,810
83$10,489,685$5,060,184$4,042,039$8,483,836
84$11,512,546$5,261,046$4,130,360$9,168,055
85$12,638,255$5,470,267$4,220,157$9,916,210
86$13,877,256$5,688,209$4,311,431$10,734,623
87$15,241,057$5,915,252$4,404,186$11,630,254
88$16,742,338$6,151,793$4,498,419$12,610,765
89$18,395,071$6,398,245$4,594,130$13,684,592
90$20,214,651$6,655,041$4,691,316$14,861,023
91$22,218,040$6,922,634$4,789,970$16,150,284
92$24,423,933$7,201,496$4,890,087$17,563,636
93$26,852,926$7,492,121$4,991,657$19,113,481
94$29,527,715$7,795,025$5,094,668$20,813,474
95$32,473,311$8,110,750$5,199,108$22,678,653
96$35,717,270$8,439,859$5,304,960$24,725,582
97$39,289,962$8,782,942$5,412,206$26,972,502
98$43,224,848$9,140,616$5,520,825$29,439,503
99$47,558,803$9,513,527$5,630,793$32,148,713
100$52,332,460$9,902,348$5,742,083$35,124,505