Can I retire at age 70 with 2,970,000?

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 $2,970,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$245,260$243,075$240,944$238,863$236,832$233,486
2 years$121,416$119,154$116,963$114,838$112,777$109,412
3 years$80,140$77,869$75,683$73,578$71,550$68,272
4 years$59,506$57,242$55,078$53,009$51,030$47,863
5 years$47,129$44,878$42,743$40,716$38,792$35,745
6 years$38,880$36,646$34,542$32,561$30,695$27,772
7 years$32,990$30,776$28,705$26,770$24,963$22,165
8 years$28,575$26,380$24,344$22,457$20,710$18,036
9 years$25,143$22,969$20,967$19,128$17,440$14,891
10 years$22,399$20,246$18,280$16,489$14,860$12,432
11 years$20,155$18,024$16,093$14,350$12,780$10,471
12 years$18,286$16,177$14,282$12,587$11,075$8,883
13 years$16,707$14,619$12,760$11,112$9,658$7,579
14 years$15,354$13,289$11,465$9,864$8,466$6,497
15 years$14,182$12,139$10,352$8,797$7,454$5,592
16 years$13,158$11,138$9,385$7,877$6,588$4,829
17 years$12,256$10,257$8,540$7,077$5,841$4,182
18 years$11,454$9,478$7,796$6,378$5,194$3,631
19 years$10,738$8,784$7,137$5,763$4,629$3,159
20 years$10,094$8,163$6,550$5,220$4,135$2,752
21 years$9,512$7,603$6,025$4,737$3,700$2,402
22 years$8,984$7,098$5,553$4,307$3,317$2,099
23 years$8,503$6,638$5,127$3,923$2,977$1,837
24 years$8,062$6,220$4,742$3,578$2,676$1,609
25 years$7,657$5,837$4,392$3,267$2,408$1,410
26 years$7,284$5,486$4,073$2,987$2,169$1,237
27 years$6,939$5,163$3,782$2,735$1,956$1,085
28 years$6,619$4,865$3,516$2,505$1,765$953
29 years$6,322$4,589$3,272$2,298$1,593$838
30 years$6,046$4,334$3,048$2,109$1,440$736
31 years$5,787$4,097$2,841$1,937$1,302$648
32 years$5,545$3,877$2,651$1,780$1,177$570
33 years$5,319$3,671$2,475$1,637$1,066$501
34 years$5,106$3,480$2,313$1,506$965$441
35 years$4,906$3,300$2,162$1,386$874$388
36 years$4,717$3,132$2,023$1,277$792$342
37 years$4,539$2,975$1,893$1,176$718$301
38 years$4,371$2,827$1,773$1,084$651$265
39 years$4,211$2,689$1,661$1,000$590$234
40 years$4,060$2,558$1,557$922$535$206
41 years$3,917$2,435$1,460$851$485$181
42 years$3,781$2,319$1,369$785$441$160
43 years$3,652$2,210$1,285$725$400$141
44 years$3,529$2,106$1,206$669$363$124
45 years$3,411$2,008$1,133$618$329$109
46 years$3,300$1,916$1,064$571$299$96
47 years$3,193$1,828$999$527$272$85
48 years$3,091$1,745$939$487$247$75
49 years$2,993$1,667$883$450$224$66
50 years$2,900$1,592$830$416$203$58

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $2,970,000, adding $3,722 every year, while hoping to spend $54,452 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: 45/50/5 Blend
69$2,970,000$2,970,000$2,970,000$2,970,000
70$3,276,779$3,119,369$3,073,334$3,419,602
71$3,553,074$3,214,282$3,118,354$3,613,177
72$3,855,726$3,312,020$3,163,058$3,816,968
73$4,187,366$3,412,665$3,207,376$4,036,642
74$4,550,892$3,516,300$3,251,238$4,273,677
75$4,949,494$3,623,010$3,294,565$4,529,697
76$5,386,688$3,732,883$3,337,278$4,806,486
77$5,866,344$3,846,008$3,379,291$5,106,006
78$6,392,727$3,962,478$3,420,513$5,430,416
79$6,970,534$4,082,388$3,460,849$5,782,091
80$7,604,937$4,205,834$3,500,197$6,163,642
81$8,301,638$4,332,917$3,538,450$6,577,941
82$9,066,913$4,463,738$3,575,497$7,028,150
83$9,907,679$4,598,403$3,611,217$7,517,749
84$10,831,556$4,737,018$3,645,486$8,050,564
85$11,846,937$4,879,694$3,678,172$8,630,811
86$12,963,069$5,026,544$3,709,136$9,263,127
87$14,190,141$5,177,683$3,738,230$9,952,617
88$15,539,377$5,333,231$3,765,302$10,704,903
89$17,023,142$5,493,308$3,790,189$11,526,172
90$18,655,063$5,658,040$3,812,720$12,423,237
91$20,450,149$5,827,554$3,832,716$13,403,601
92$22,424,941$6,001,980$3,849,989$14,475,524
93$24,597,661$6,181,453$3,864,339$15,648,104
94$26,988,387$6,366,110$3,875,560$16,931,357
95$29,619,244$6,556,090$3,883,432$18,336,319
96$32,514,606$6,751,538$3,887,727$19,875,140
97$35,701,332$6,952,600$3,888,202$21,561,205
98$39,209,017$7,159,427$3,884,606$23,409,255
99$43,070,270$7,372,171$3,876,673$25,435,529
100$47,321,021$7,590,991$3,864,125$27,657,912