Can I retire at age 70 with 2,940,000?

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 $2,940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19%
1 years$242,782$240,620$238,510$236,451$234,440$225,942
2 years$120,189$117,951$115,782$113,678$111,638$103,170
3 years$79,330$77,082$74,918$72,835$70,828$62,655
4 years$58,905$56,664$54,521$52,473$50,515$42,701
5 years$46,653$44,425$42,311$40,305$38,401$30,965
6 years$38,487$36,276$34,193$32,232$30,385$23,334
7 years$32,657$30,465$28,415$26,500$24,711$18,043
8 years$28,287$26,114$24,098$22,230$20,500$14,208
9 years$24,889$22,737$20,756$18,935$17,264$11,341
10 years$22,172$20,041$18,095$16,322$14,710$9,144
11 years$19,951$17,842$15,931$14,205$12,651$7,431
12 years$18,102$16,014$14,138$12,460$10,963$6,077
13 years$16,538$14,472$12,632$11,000$9,560$4,994
14 years$15,199$13,154$11,349$9,765$8,380$4,120
15 years$14,039$12,017$10,247$8,708$7,379$3,410
16 years$13,025$11,025$9,290$7,797$6,521$2,830
17 years$12,132$10,154$8,454$7,006$5,782$2,353
18 years$11,338$9,383$7,717$6,314$5,141$1,960
19 years$10,629$8,696$7,065$5,705$4,583$1,635
20 years$9,992$8,080$6,484$5,167$4,093$1,366
21 years$9,416$7,527$5,964$4,689$3,663$1,142
22 years$8,893$7,026$5,497$4,264$3,283$956
23 years$8,417$6,571$5,075$3,883$2,947$800
24 years$7,981$6,157$4,694$3,542$2,649$670
25 years$7,580$5,778$4,347$3,234$2,384$562
26 years$7,210$5,430$4,032$2,957$2,147$471
27 years$6,869$5,110$3,744$2,707$1,936$395
28 years$6,553$4,816$3,480$2,480$1,747$332
29 years$6,259$4,543$3,239$2,274$1,577$278
30 years$5,985$4,290$3,017$2,087$1,425$234
31 years$5,729$4,056$2,813$1,917$1,289$196
32 years$5,489$3,838$2,624$1,762$1,166$165
33 years$5,265$3,634$2,450$1,620$1,055$138
34 years$5,054$3,444$2,289$1,491$955$116
35 years$4,856$3,267$2,140$1,372$865$98
36 years$4,669$3,101$2,002$1,264$784$82
37 years$4,493$2,945$1,874$1,164$710$69
38 years$4,327$2,799$1,755$1,073$644$58
39 years$4,169$2,661$1,644$990$584$49
40 years$4,019$2,532$1,541$913$530$41
41 years$3,878$2,410$1,445$842$481$34
42 years$3,743$2,296$1,356$777$436$29
43 years$3,615$2,187$1,272$717$396$24
44 years$3,493$2,085$1,194$662$359$20
45 years$3,377$1,988$1,121$612$326$17
46 years$3,266$1,897$1,053$565$296$14
47 years$3,161$1,810$989$522$269$12
48 years$3,060$1,728$930$482$244$10
49 years$2,963$1,650$874$446$222$9
50 years$2,870$1,576$821$412$201$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $2,940,000, adding $4,596 every year, while hoping to spend $32,148 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: 54/20/26 Blend
69$2,940,000$2,940,000$2,940,000$2,940,000
70$3,244,621$3,088,801$3,043,231$3,396,237
71$3,541,367$3,205,947$3,110,974$3,618,471
72$3,867,304$3,327,755$3,179,909$3,856,588
73$4,225,374$3,454,421$3,250,042$4,115,170
74$4,618,822$3,586,148$3,321,377$4,396,192
75$5,051,219$3,723,146$3,393,921$4,701,825
76$5,526,501$3,865,637$3,467,674$5,034,459
77$6,049,003$4,013,852$3,542,640$5,396,721
78$6,623,502$4,168,032$3,618,820$5,791,507
79$7,255,262$4,328,428$3,696,213$6,222,001
80$7,950,080$4,495,303$3,774,817$6,691,707
81$8,714,345$4,668,930$3,854,631$7,204,484
82$9,555,096$4,849,595$3,935,649$7,764,581
83$10,480,089$5,037,598$4,017,866$8,376,672
84$11,497,867$5,233,249$4,101,273$9,045,907
85$12,617,846$5,436,875$4,185,863$9,777,953
86$13,850,399$5,648,815$4,271,622$10,579,053
87$15,206,958$5,869,425$4,358,539$11,456,079
88$16,700,115$6,099,075$4,446,598$12,416,601
89$18,343,750$6,338,152$4,535,782$13,468,952
90$20,153,151$6,587,061$4,626,070$14,622,311
91$22,145,170$6,846,224$4,717,440$15,886,789
92$24,338,371$7,116,082$4,809,868$17,273,519
93$26,753,212$7,397,097$4,903,326$18,794,765
94$29,412,235$7,689,750$4,997,782$20,464,033
95$32,340,279$7,994,544$5,093,204$22,296,202
96$35,564,716$8,312,005$5,189,555$24,307,661
97$39,115,705$8,642,682$5,286,794$26,516,461
98$43,026,483$8,987,149$5,384,877$28,942,489
99$47,333,670$9,346,006$5,483,757$31,607,651
100$52,077,623$9,719,879$5,583,381$34,536,080