Can I retire at age 70 with 2,930,000?

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 $2,930,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$241,957$239,801$237,699$235,646$233,642$230,246
2 years$119,781$117,550$115,388$113,292$111,258$107,843
3 years$79,060$76,820$74,664$72,587$70,587$67,260
4 years$58,704$56,471$54,336$52,295$50,343$47,130
5 years$46,494$44,274$42,167$40,167$38,270$35,180
6 years$38,356$36,153$34,077$32,122$30,282$27,318
7 years$32,546$30,361$28,318$26,409$24,627$21,791
8 years$28,190$26,025$24,016$22,154$20,431$17,721
9 years$24,804$22,660$20,685$18,870$17,206$14,622
10 years$22,097$19,973$18,034$16,267$14,660$12,200
11 years$19,884$17,781$15,877$14,157$12,608$10,269
12 years$18,040$15,959$14,090$12,417$10,926$8,706
13 years$16,482$14,423$12,589$10,963$9,528$7,423
14 years$15,147$13,110$11,311$9,731$8,352$6,360
15 years$13,991$11,976$10,212$8,679$7,354$5,470
16 years$12,981$10,988$9,259$7,771$6,499$4,721
17 years$12,091$10,119$8,425$6,982$5,763$4,085
18 years$11,300$9,351$7,691$6,292$5,124$3,544
19 years$10,593$8,666$7,041$5,686$4,567$3,081
20 years$9,958$8,053$6,462$5,149$4,079$2,683
21 years$9,384$7,501$5,944$4,673$3,651$2,340
22 years$8,863$7,002$5,478$4,249$3,272$2,043
23 years$8,388$6,549$5,058$3,870$2,937$1,786
24 years$7,953$6,136$4,678$3,530$2,640$1,563
25 years$7,554$5,758$4,332$3,223$2,376$1,369
26 years$7,186$5,412$4,018$2,947$2,140$1,200
27 years$6,846$5,093$3,731$2,698$1,929$1,052
28 years$6,530$4,799$3,469$2,472$1,741$923
29 years$6,237$4,527$3,228$2,267$1,572$811
30 years$5,964$4,276$3,007$2,080$1,420$712
31 years$5,709$4,042$2,803$1,910$1,284$626
32 years$5,471$3,824$2,615$1,756$1,162$550
33 years$5,247$3,622$2,442$1,615$1,051$483
34 years$5,037$3,433$2,282$1,486$952$425
35 years$4,840$3,256$2,133$1,368$862$374
36 years$4,654$3,090$1,995$1,259$781$329
37 years$4,478$2,935$1,868$1,160$708$290
38 years$4,312$2,789$1,749$1,070$642$255
39 years$4,155$2,652$1,639$986$582$224
40 years$4,006$2,524$1,536$910$528$197
41 years$3,865$2,402$1,440$839$479$174
42 years$3,730$2,288$1,351$775$435$153
43 years$3,603$2,180$1,268$715$394$135
44 years$3,481$2,078$1,190$660$358$119
45 years$3,366$1,981$1,117$610$325$105
46 years$3,255$1,890$1,049$563$295$92
47 years$3,150$1,804$986$520$268$81
48 years$3,049$1,722$926$481$243$71
49 years$2,953$1,644$871$444$221$63
50 years$2,861$1,571$819$411$201$55

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $2,930,000, adding $2,058 every year, while hoping to spend $35,710 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: 51/38/11 Blend
69$2,930,000$2,930,000$2,930,000$2,930,000
70$3,230,983$3,075,693$3,030,278$3,386,249
71$3,522,548$3,188,407$3,093,797$3,605,247
72$3,842,656$3,305,447$3,158,247$3,839,225
73$4,194,180$3,426,987$3,223,622$4,092,761
74$4,580,286$3,553,209$3,289,913$4,367,706
75$5,004,462$3,684,303$3,357,112$4,666,095
76$5,470,549$3,820,465$3,425,207$4,990,164
77$5,982,779$3,961,902$3,494,185$5,342,373
78$6,545,814$4,108,827$3,564,032$5,725,425
79$7,164,793$4,261,465$3,634,733$6,142,296
80$7,845,373$4,420,048$3,706,268$6,596,257
81$8,593,790$4,584,820$3,778,617$7,090,906
82$9,416,914$4,756,033$3,851,757$7,630,203
83$10,322,313$4,933,953$3,925,665$8,218,505
84$11,318,326$5,118,853$4,000,312$8,860,605
85$12,414,141$5,311,023$4,075,668$9,561,778
86$13,619,882$5,510,762$4,151,702$10,327,829
87$14,946,703$5,718,382$4,228,376$11,165,149
88$16,406,893$5,934,209$4,305,654$12,080,769
89$18,013,995$6,158,584$4,383,492$13,082,433
90$19,782,930$6,391,863$4,461,847$14,178,662
91$21,730,139$6,634,414$4,540,668$15,378,839
92$23,873,737$6,886,624$4,619,905$16,693,294
93$26,233,687$7,148,898$4,699,501$18,133,400
94$28,831,984$7,421,655$4,779,395$19,711,680
95$31,692,865$7,705,334$4,859,523$21,441,924
96$34,843,036$8,000,395$4,939,816$23,339,315
97$38,311,926$8,307,314$5,020,200$25,420,577
98$42,131,962$8,626,592$5,100,596$27,704,123
99$46,338,877$8,958,750$5,180,921$30,210,235
100$50,972,045$9,304,331$5,261,084$32,961,249