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

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 $2,940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.1%
1 years$242,782$240,620$238,510$236,451$234,440$230,461
2 years$120,189$117,951$115,782$113,678$111,638$107,642
3 years$79,330$77,082$74,918$72,835$70,828$66,938
4 years$58,905$56,664$54,521$52,473$50,515$46,763
5 years$46,653$44,425$42,311$40,305$38,401$34,796
6 years$38,487$36,276$34,193$32,232$30,385$26,932
7 years$32,657$30,465$28,415$26,500$24,711$21,411
8 years$28,287$26,114$24,098$22,230$20,500$17,352
9 years$24,889$22,737$20,756$18,935$17,264$14,267
10 years$22,172$20,041$18,095$16,322$14,710$11,860
11 years$19,951$17,842$15,931$14,205$12,651$9,946
12 years$18,102$16,014$14,138$12,460$10,963$8,399
13 years$16,538$14,472$12,632$11,000$9,560$7,133
14 years$15,199$13,154$11,349$9,765$8,380$6,087
15 years$14,039$12,017$10,247$8,708$7,379$5,214
16 years$13,025$11,025$9,290$7,797$6,521$4,481
17 years$12,132$10,154$8,454$7,006$5,782$3,861
18 years$11,338$9,383$7,717$6,314$5,141$3,335
19 years$10,629$8,696$7,065$5,705$4,583$2,886
20 years$9,992$8,080$6,484$5,167$4,093$2,502
21 years$9,416$7,527$5,964$4,689$3,663$2,172
22 years$8,893$7,026$5,497$4,264$3,283$1,888
23 years$8,417$6,571$5,075$3,883$2,947$1,643
24 years$7,981$6,157$4,694$3,542$2,649$1,431
25 years$7,580$5,778$4,347$3,234$2,384$1,247
26 years$7,210$5,430$4,032$2,957$2,147$1,088
27 years$6,869$5,110$3,744$2,707$1,936$950
28 years$6,553$4,816$3,480$2,480$1,747$829
29 years$6,259$4,543$3,239$2,274$1,577$725
30 years$5,985$4,290$3,017$2,087$1,425$633
31 years$5,729$4,056$2,813$1,917$1,289$554
32 years$5,489$3,838$2,624$1,762$1,166$484
33 years$5,265$3,634$2,450$1,620$1,055$424
34 years$5,054$3,444$2,289$1,491$955$371
35 years$4,856$3,267$2,140$1,372$865$324
36 years$4,669$3,101$2,002$1,264$784$284
37 years$4,493$2,945$1,874$1,164$710$249
38 years$4,327$2,799$1,755$1,073$644$218
39 years$4,169$2,661$1,644$990$584$191
40 years$4,019$2,532$1,541$913$530$167
41 years$3,878$2,410$1,445$842$481$146
42 years$3,743$2,296$1,356$777$436$128
43 years$3,615$2,187$1,272$717$396$112
44 years$3,493$2,085$1,194$662$359$98
45 years$3,377$1,988$1,121$612$326$86
46 years$3,266$1,897$1,053$565$296$75
47 years$3,161$1,810$989$522$269$66
48 years$3,060$1,728$930$482$244$58
49 years$2,963$1,650$874$446$222$51
50 years$2,870$1,576$821$412$201$44

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 $3,635 every year, while hoping to spend $26,945 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: 55/35/10 Blend
69$2,940,000$2,940,000$2,940,000$2,940,000
70$3,243,630$3,087,810$3,042,240$3,413,781
71$3,545,810$3,210,443$3,115,485$3,652,011
72$3,877,911$3,338,182$3,190,282$3,907,996
73$4,242,954$3,471,249$3,266,652$4,186,069
74$4,644,270$3,609,876$3,344,620$4,488,335
75$5,085,530$3,754,304$3,424,209$4,817,110
76$5,570,776$3,904,786$3,505,442$5,174,941
77$6,104,462$4,061,588$3,588,341$5,564,627
78$6,691,497$4,224,985$3,672,930$5,989,245
79$7,337,287$4,395,267$3,759,231$6,452,183
80$8,047,790$4,572,735$3,847,265$6,957,163
81$8,829,570$4,757,705$3,937,054$7,508,283
82$9,689,861$4,950,507$4,028,620$8,110,051
83$10,636,632$5,151,487$4,121,984$8,767,424
84$11,678,662$5,361,004$4,217,164$9,485,860
85$12,825,628$5,579,435$4,314,182$10,271,364
86$14,088,191$5,807,176$4,413,055$11,130,543
87$15,478,097$6,044,638$4,513,803$12,070,672
88$17,008,290$6,292,253$4,616,443$13,099,755
89$18,693,032$6,550,470$4,720,991$14,226,604
90$20,548,041$6,819,762$4,827,463$15,460,920
91$22,590,632$7,100,621$4,935,874$16,813,381
92$24,839,888$7,393,563$5,046,237$18,295,743
93$27,316,836$7,699,128$5,158,566$19,920,951
94$30,044,646$8,017,878$5,272,870$21,703,256
95$33,048,850$8,350,403$5,389,161$23,658,351
96$36,357,581$8,697,322$5,507,447$25,803,515
97$40,001,842$9,059,279$5,627,734$28,157,776
98$44,015,795$9,436,949$5,750,029$30,742,088
99$48,437,085$9,831,038$5,874,334$33,579,529
100$53,307,195$10,242,286$6,000,651$36,695,512