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%14.2%
1 years$243,608$241,438$239,321$237,255$235,237$231,150
2 years$120,598$118,352$116,175$114,065$112,018$107,913
3 years$79,600$77,344$75,173$73,082$71,069$67,075
4 years$59,105$56,856$54,707$52,652$50,687$46,834
5 years$46,811$44,576$42,455$40,442$38,531$34,831
6 years$38,618$36,400$34,310$32,341$30,488$26,945
7 years$32,768$30,568$28,512$26,590$24,795$21,409
8 years$28,383$26,203$24,180$22,305$20,570$17,340
9 years$24,974$22,814$20,826$18,999$17,323$14,248
10 years$22,248$20,110$18,157$16,378$14,760$11,838
11 years$20,019$17,902$15,985$14,253$12,694$9,921
12 years$18,163$16,068$14,186$12,502$11,000$8,373
13 years$16,594$14,521$12,674$11,038$9,593$7,106
14 years$15,250$13,199$11,388$9,798$8,409$6,059
15 years$14,087$12,058$10,282$8,738$7,404$5,187
16 years$13,070$11,063$9,322$7,824$6,544$4,454
17 years$12,173$10,188$8,483$7,030$5,802$3,836
18 years$11,377$9,414$7,744$6,335$5,159$3,311
19 years$10,666$8,725$7,089$5,724$4,598$2,863
20 years$10,026$8,108$6,506$5,185$4,107$2,480
21 years$9,448$7,552$5,984$4,705$3,675$2,152
22 years$8,924$7,050$5,515$4,278$3,295$1,869
23 years$8,445$6,593$5,092$3,896$2,957$1,625
24 years$8,008$6,178$4,710$3,554$2,658$1,414
25 years$7,606$5,797$4,362$3,245$2,392$1,232
26 years$7,235$5,449$4,046$2,967$2,155$1,074
27 years$6,892$5,128$3,757$2,716$1,943$936
28 years$6,575$4,832$3,492$2,489$1,753$817
29 years$6,280$4,558$3,250$2,282$1,583$713
30 years$6,005$4,305$3,027$2,094$1,430$623
31 years$5,748$4,070$2,822$1,923$1,293$544
32 years$5,508$3,851$2,633$1,768$1,170$475
33 years$5,283$3,647$2,459$1,626$1,058$416
34 years$5,072$3,456$2,297$1,496$958$363
35 years$4,873$3,278$2,148$1,377$868$318
36 years$4,685$3,111$2,009$1,268$786$278
37 years$4,508$2,955$1,880$1,168$713$243
38 years$4,341$2,808$1,761$1,077$646$213
39 years$4,183$2,671$1,650$993$586$186
40 years$4,033$2,541$1,546$916$531$163
41 years$3,891$2,419$1,450$845$482$142
42 years$3,756$2,303$1,360$780$438$125
43 years$3,627$2,195$1,276$720$397$109
44 years$3,505$2,092$1,198$665$360$96
45 years$3,388$1,995$1,125$614$327$84
46 years$3,277$1,903$1,057$567$297$73
47 years$3,171$1,816$993$524$270$64
48 years$3,070$1,734$933$484$245$56
49 years$2,973$1,656$877$447$223$49
50 years$2,880$1,581$824$414$202$43

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 $4,003 every year, while hoping to spend $43,882 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: 52/28/20 Blend
69$2,950,000$2,950,000$2,950,000$2,950,000
70$3,255,029$3,098,679$3,052,954$3,406,148
71$3,540,352$3,203,824$3,108,538$3,615,755
72$3,853,307$3,312,651$3,164,513$3,838,734
73$4,196,666$3,425,293$3,220,846$4,080,333
74$4,573,484$3,541,889$3,277,502$4,342,337
75$4,987,122$3,662,585$3,334,441$4,626,707
76$5,441,287$3,787,530$3,391,623$4,935,602
77$5,940,058$3,916,879$3,449,003$5,271,397
78$6,487,934$4,050,796$3,506,534$5,636,707
79$7,089,865$4,189,446$3,564,165$6,034,409
80$7,751,308$4,333,006$3,621,841$6,467,669
81$8,478,274$4,481,656$3,679,505$6,939,973
82$9,277,384$4,635,584$3,737,096$7,455,158
83$10,155,936$4,794,986$3,794,547$8,017,450
84$11,121,966$4,960,065$3,851,789$8,631,500
85$12,184,330$5,131,032$3,908,747$9,302,428
86$13,352,785$5,308,105$3,965,343$10,035,874
87$14,638,080$5,491,513$4,021,493$10,838,049
88$16,052,059$5,681,493$4,077,109$11,715,790
89$17,607,773$5,878,290$4,132,095$12,676,628
90$19,319,599$6,082,159$4,186,354$13,728,857
91$21,203,380$6,293,367$4,239,779$14,881,613
92$23,276,572$6,512,189$4,292,259$16,144,956
93$25,558,409$6,738,913$4,343,676$17,529,968
94$28,070,083$6,973,836$4,393,905$19,048,856
95$30,834,947$7,217,269$4,442,816$20,715,065
96$33,878,731$7,469,535$4,490,270$22,543,406
97$37,229,787$7,730,968$4,536,120$24,550,195
98$40,919,357$8,001,917$4,580,211$26,753,405
99$44,981,865$8,282,745$4,622,382$29,172,836
100$49,455,245$8,573,828$4,662,461$31,830,300