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%13.8%
1 years$245,260$243,075$240,944$238,863$236,832$233,100
2 years$121,416$119,154$116,963$114,838$112,777$109,027
3 years$80,140$77,869$75,683$73,578$71,550$67,899
4 years$59,506$57,242$55,078$53,009$51,030$47,506
5 years$47,129$44,878$42,743$40,716$38,792$35,404
6 years$38,880$36,646$34,542$32,561$30,695$27,448
7 years$32,990$30,776$28,705$26,770$24,963$21,858
8 years$28,575$26,380$24,344$22,457$20,710$17,745
9 years$25,143$22,969$20,967$19,128$17,440$14,615
10 years$22,399$20,246$18,280$16,489$14,860$12,172
11 years$20,155$18,024$16,093$14,350$12,780$10,227
12 years$18,286$16,177$14,282$12,587$11,075$8,653
13 years$16,707$14,619$12,760$11,112$9,658$7,364
14 years$15,354$13,289$11,465$9,864$8,466$6,296
15 years$14,182$12,139$10,352$8,797$7,454$5,404
16 years$13,158$11,138$9,385$7,877$6,588$4,654
17 years$12,256$10,257$8,540$7,077$5,841$4,019
18 years$11,454$9,478$7,796$6,378$5,194$3,479
19 years$10,738$8,784$7,137$5,763$4,629$3,018
20 years$10,094$8,163$6,550$5,220$4,135$2,622
21 years$9,512$7,603$6,025$4,737$3,700$2,281
22 years$8,984$7,098$5,553$4,307$3,317$1,988
23 years$8,503$6,638$5,127$3,923$2,977$1,734
24 years$8,062$6,220$4,742$3,578$2,676$1,513
25 years$7,657$5,837$4,392$3,267$2,408$1,322
26 years$7,284$5,486$4,073$2,987$2,169$1,156
27 years$6,939$5,163$3,782$2,735$1,956$1,012
28 years$6,619$4,865$3,516$2,505$1,765$886
29 years$6,322$4,589$3,272$2,298$1,593$776
30 years$6,046$4,334$3,048$2,109$1,440$680
31 years$5,787$4,097$2,841$1,937$1,302$596
32 years$5,545$3,877$2,651$1,780$1,177$522
33 years$5,319$3,671$2,475$1,637$1,066$458
34 years$5,106$3,480$2,313$1,506$965$402
35 years$4,906$3,300$2,162$1,386$874$353
36 years$4,717$3,132$2,023$1,277$792$309
37 years$4,539$2,975$1,893$1,176$718$272
38 years$4,371$2,827$1,773$1,084$651$238
39 years$4,211$2,689$1,661$1,000$590$209
40 years$4,060$2,558$1,557$922$535$184
41 years$3,917$2,435$1,460$851$485$161
42 years$3,781$2,319$1,369$785$441$142
43 years$3,652$2,210$1,285$725$400$124
44 years$3,529$2,106$1,206$669$363$109
45 years$3,411$2,008$1,133$618$329$96
46 years$3,300$1,916$1,064$571$299$84
47 years$3,193$1,828$999$527$272$74
48 years$3,091$1,745$939$487$247$65
49 years$2,993$1,667$883$450$224$57
50 years$2,900$1,592$830$416$203$50

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 $3,849 every year, while hoping to spend $54,664 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: 74/13/13 Blend
69$2,970,000$2,970,000$2,970,000$2,970,000
70$3,276,910$3,119,500$3,073,465$3,510,254
71$3,552,993$3,214,194$3,118,264$3,759,683
72$3,855,404$3,311,695$3,162,732$4,025,721
73$4,186,771$3,412,084$3,206,799$4,315,718
74$4,549,989$3,515,443$3,250,394$4,632,035
75$4,948,243$3,621,855$3,293,438$4,977,272
76$5,385,046$3,731,408$3,335,850$5,354,293
77$5,864,263$3,844,190$3,377,543$5,766,251
78$6,390,154$3,960,290$3,418,427$6,216,620
79$6,967,409$4,079,804$3,458,403$6,709,225
80$7,601,195$4,202,826$3,497,371$7,248,280
81$8,297,207$4,329,453$3,535,222$7,838,425
82$9,061,713$4,459,787$3,571,843$8,484,774
83$9,901,621$4,593,931$3,607,114$9,192,957
84$10,824,542$4,731,989$3,640,908$9,969,177
85$11,838,860$4,874,071$3,673,092$10,820,269
86$12,953,809$5,020,286$3,703,526$11,753,760
87$14,179,566$5,170,748$3,732,063$12,777,944
88$15,527,340$5,325,574$3,758,546$13,901,958
89$17,009,484$5,484,882$3,782,812$15,135,870
90$18,639,605$5,648,794$3,804,689$16,490,768
91$20,432,695$5,817,436$3,823,997$17,978,874
92$22,405,274$5,990,934$3,840,545$19,613,649
93$24,575,541$6,169,419$3,854,133$21,409,928
94$26,963,552$6,353,026$3,864,551$23,384,053
95$29,591,400$6,541,890$3,871,580$25,554,033
96$32,483,432$6,736,152$3,874,987$27,939,709
97$35,666,474$6,935,955$3,874,531$30,562,945
98$39,170,082$7,141,445$3,869,955$33,447,829
99$43,026,825$7,352,771$3,860,994$36,620,905
100$47,272,591$7,570,086$3,847,367$40,111,423