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%13.2%
1 years$243,608$241,438$239,321$237,255$235,237$232,105
2 years$120,598$118,352$116,175$114,065$112,018$108,867
3 years$79,600$77,344$75,173$73,082$71,069$67,998
4 years$59,105$56,856$54,707$52,652$50,687$47,719
5 years$46,811$44,576$42,455$40,442$38,531$35,675
6 years$38,618$36,400$34,310$32,341$30,488$27,748
7 years$32,768$30,568$28,512$26,590$24,795$22,171
8 years$28,383$26,203$24,180$22,305$20,570$18,061
9 years$24,974$22,814$20,826$18,999$17,323$14,929
10 years$22,248$20,110$18,157$16,378$14,760$12,479
11 years$20,019$17,902$15,985$14,253$12,694$10,524
12 years$18,163$16,068$14,186$12,502$11,000$8,939
13 years$16,594$14,521$12,674$11,038$9,593$7,637
14 years$15,250$13,199$11,388$9,798$8,409$6,556
15 years$14,087$12,058$10,282$8,738$7,404$5,650
16 years$13,070$11,063$9,322$7,824$6,544$4,886
17 years$12,173$10,188$8,483$7,030$5,802$4,238
18 years$11,377$9,414$7,744$6,335$5,159$3,684
19 years$10,666$8,725$7,089$5,724$4,598$3,210
20 years$10,026$8,108$6,506$5,185$4,107$2,801
21 years$9,448$7,552$5,984$4,705$3,675$2,448
22 years$8,924$7,050$5,515$4,278$3,295$2,143
23 years$8,445$6,593$5,092$3,896$2,957$1,878
24 years$8,008$6,178$4,710$3,554$2,658$1,647
25 years$7,606$5,797$4,362$3,245$2,392$1,446
26 years$7,235$5,449$4,046$2,967$2,155$1,270
27 years$6,892$5,128$3,757$2,716$1,943$1,117
28 years$6,575$4,832$3,492$2,489$1,753$982
29 years$6,280$4,558$3,250$2,282$1,583$865
30 years$6,005$4,305$3,027$2,094$1,430$761
31 years$5,748$4,070$2,822$1,923$1,293$671
32 years$5,508$3,851$2,633$1,768$1,170$591
33 years$5,283$3,647$2,459$1,626$1,058$521
34 years$5,072$3,456$2,297$1,496$958$459
35 years$4,873$3,278$2,148$1,377$868$405
36 years$4,685$3,111$2,009$1,268$786$357
37 years$4,508$2,955$1,880$1,168$713$315
38 years$4,341$2,808$1,761$1,077$646$278
39 years$4,183$2,671$1,650$993$586$245
40 years$4,033$2,541$1,546$916$531$217
41 years$3,891$2,419$1,450$845$482$191
42 years$3,756$2,303$1,360$780$438$169
43 years$3,627$2,195$1,276$720$397$149
44 years$3,505$2,092$1,198$665$360$131
45 years$3,388$1,995$1,125$614$327$116
46 years$3,277$1,903$1,057$567$297$103
47 years$3,171$1,816$993$524$270$91
48 years$3,070$1,734$933$484$245$80
49 years$2,973$1,656$877$447$223$71
50 years$2,880$1,581$824$414$202$62

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 $3,717 every year, while hoping to spend $36,194 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: 72/15/13 Blend
69$2,950,000$2,950,000$2,950,000$2,950,000
70$3,254,734$3,098,384$3,052,659$3,479,781
71$3,548,207$3,211,695$3,116,413$3,742,634
72$3,870,401$3,329,345$3,181,090$4,025,581
73$4,224,207$3,451,508$3,246,682$4,334,446
74$4,612,811$3,578,367$3,313,180$4,671,786
75$5,039,721$3,710,110$3,380,575$5,040,411
76$5,508,803$3,846,936$3,448,855$5,443,420
77$6,024,315$3,989,049$3,518,005$5,884,220
78$6,590,947$4,136,665$3,588,011$6,366,566
79$7,213,869$4,290,007$3,658,854$6,894,592
80$7,898,774$4,449,308$3,730,516$7,472,850
81$8,651,936$4,614,811$3,802,976$8,106,353
82$9,480,266$4,786,769$3,876,208$8,800,621
83$10,391,380$4,965,448$3,950,188$9,561,734
84$11,393,667$5,151,121$4,024,885$10,396,391
85$12,496,372$5,344,077$4,100,270$11,311,966
86$13,709,681$5,544,615$4,176,308$12,316,583
87$15,044,815$5,753,048$4,252,961$13,419,192
88$16,514,140$5,969,702$4,330,189$14,629,650
89$18,131,282$6,194,916$4,407,949$15,958,814
90$19,911,251$6,429,046$4,486,195$17,418,647
91$21,870,591$6,672,462$4,564,875$19,022,325
92$24,027,528$6,925,549$4,643,935$20,784,362
93$26,402,146$7,188,711$4,723,316$22,720,751
94$29,016,575$7,462,368$4,802,958$24,849,108
95$31,895,200$7,746,958$4,882,791$27,188,841
96$35,064,891$8,042,940$4,962,745$29,761,333
97$38,555,257$8,350,791$5,042,744$32,590,142
98$42,398,923$8,671,009$5,122,706$35,701,221
99$46,631,840$9,004,116$5,202,544$39,123,167
100$51,293,625$9,350,654$5,282,165$42,887,484