Can I retire at age 70 with 2,950,000?

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 $2,950,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.2%
1 years$243,608$241,438$239,321$237,255$235,237$228,348
2 years$120,598$118,352$116,175$114,065$112,018$105,132
3 years$79,600$77,344$75,173$73,082$71,069$64,403
4 years$59,105$56,856$54,707$52,652$50,687$44,293
5 years$46,811$44,576$42,455$40,442$38,531$32,426
6 years$38,618$36,400$34,310$32,341$30,488$24,677
7 years$32,768$30,568$28,512$26,590$24,795$19,278
8 years$28,383$26,203$24,180$22,305$20,570$15,344
9 years$24,974$22,814$20,826$18,999$17,323$12,382
10 years$22,248$20,110$18,157$16,378$14,760$10,098
11 years$20,019$17,902$15,985$14,253$12,694$8,302
12 years$18,163$16,068$14,186$12,502$11,000$6,871
13 years$16,594$14,521$12,674$11,038$9,593$5,716
14 years$15,250$13,199$11,388$9,798$8,409$4,775
15 years$14,087$12,058$10,282$8,738$7,404$4,003
16 years$13,070$11,063$9,322$7,824$6,544$3,365
17 years$12,173$10,188$8,483$7,030$5,802$2,835
18 years$11,377$9,414$7,744$6,335$5,159$2,394
19 years$10,666$8,725$7,089$5,724$4,598$2,025
20 years$10,026$8,108$6,506$5,185$4,107$1,714
21 years$9,448$7,552$5,984$4,705$3,675$1,454
22 years$8,924$7,050$5,515$4,278$3,295$1,234
23 years$8,445$6,593$5,092$3,896$2,957$1,048
24 years$8,008$6,178$4,710$3,554$2,658$890
25 years$7,606$5,797$4,362$3,245$2,392$757
26 years$7,235$5,449$4,046$2,967$2,155$644
27 years$6,892$5,128$3,757$2,716$1,943$548
28 years$6,575$4,832$3,492$2,489$1,753$467
29 years$6,280$4,558$3,250$2,282$1,583$398
30 years$6,005$4,305$3,027$2,094$1,430$339
31 years$5,748$4,070$2,822$1,923$1,293$289
32 years$5,508$3,851$2,633$1,768$1,170$246
33 years$5,283$3,647$2,459$1,626$1,058$210
34 years$5,072$3,456$2,297$1,496$958$179
35 years$4,873$3,278$2,148$1,377$868$153
36 years$4,685$3,111$2,009$1,268$786$130
37 years$4,508$2,955$1,880$1,168$713$111
38 years$4,341$2,808$1,761$1,077$646$95
39 years$4,183$2,671$1,650$993$586$81
40 years$4,033$2,541$1,546$916$531$69
41 years$3,891$2,419$1,450$845$482$59
42 years$3,756$2,303$1,360$780$438$50
43 years$3,627$2,195$1,276$720$397$43
44 years$3,505$2,092$1,198$665$360$36
45 years$3,388$1,995$1,125$614$327$31
46 years$3,277$1,903$1,057$567$297$27
47 years$3,171$1,816$993$524$270$23
48 years$3,070$1,734$933$484$245$19
49 years$2,973$1,656$877$447$223$16
50 years$2,880$1,581$824$414$202$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $2,950,000, adding $4,282 every year, while hoping to spend $21,803 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: 62/30/8 Blend
69$2,950,000$2,950,000$2,950,000$2,950,000
70$3,255,317$3,098,967$3,053,242$3,451,494
71$3,564,161$3,227,618$3,132,327$3,711,760
72$3,903,776$3,361,842$3,213,331$3,992,795
73$4,277,279$3,501,890$3,296,295$4,298,980
74$4,688,101$3,648,022$3,381,261$4,632,746
75$5,140,025$3,800,513$3,468,271$4,996,766
76$5,637,218$3,959,649$3,557,368$5,393,982
77$6,184,272$4,125,729$3,648,597$5,827,627
78$6,786,244$4,299,066$3,742,002$6,301,262
79$7,448,710$4,479,990$3,837,629$6,818,802
80$8,177,811$4,668,842$3,935,522$7,384,554
81$8,980,315$4,865,982$4,035,728$8,003,259
82$9,863,677$5,071,785$4,138,295$8,680,134
83$10,836,114$5,286,644$4,243,270$9,420,921
84$11,906,680$5,510,972$4,350,702$10,231,938
85$13,085,349$5,745,198$4,460,639$11,120,141
86$14,383,115$5,989,773$4,573,130$12,093,186
87$15,812,090$6,245,169$4,688,227$13,159,501
88$17,385,620$6,511,878$4,805,979$14,328,366
89$19,118,411$6,790,419$4,926,438$15,609,994
90$21,026,670$7,081,331$5,049,655$17,015,634
91$23,128,255$7,385,180$5,175,682$18,557,668
92$25,442,842$7,702,559$5,304,573$20,249,732
93$27,992,116$8,034,088$5,436,380$22,106,841
94$30,799,969$8,380,416$5,571,156$24,145,528
95$33,892,733$8,742,223$5,708,957$26,384,002
96$37,299,420$9,120,221$5,849,835$28,842,315
97$41,052,003$9,515,153$5,993,846$31,542,549
98$45,185,712$9,927,801$6,141,045$34,509,027
99$49,739,372$10,358,980$6,291,487$37,768,536
100$54,755,763$10,809,545$6,445,227$41,350,580