Can I retire at age 70 with 2,980,000?

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 $2,980,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.4%
1 years$246,086$243,894$241,755$239,668$237,629$233,309
2 years$121,825$119,556$117,357$115,225$113,157$108,819
3 years$80,410$78,131$75,938$73,826$71,791$67,572
4 years$59,706$57,435$55,263$53,187$51,202$47,134
5 years$47,287$45,029$42,886$40,853$38,923$35,017
6 years$39,011$36,770$34,659$32,670$30,799$27,059
7 years$33,101$30,879$28,801$26,860$25,047$21,476
8 years$28,671$26,469$24,426$22,532$20,779$17,375
9 years$25,228$23,046$21,038$19,193$17,499$14,259
10 years$22,474$20,314$18,341$16,544$14,910$11,832
11 years$20,223$18,084$16,148$14,398$12,823$9,904
12 years$18,348$16,232$14,331$12,629$11,112$8,348
13 years$16,763$14,669$12,803$11,150$9,690$7,075
14 years$15,405$13,333$11,504$9,898$8,494$6,025
15 years$14,230$12,180$10,386$8,827$7,479$5,150
16 years$13,203$11,175$9,417$7,903$6,610$4,417
17 years$12,297$10,292$8,569$7,101$5,861$3,798
18 years$11,493$9,510$7,822$6,400$5,211$3,273
19 years$10,774$8,814$7,161$5,783$4,645$2,827
20 years$10,128$8,190$6,572$5,237$4,149$2,445
21 years$9,544$7,629$6,045$4,753$3,713$2,118
22 years$9,014$7,121$5,571$4,322$3,328$1,837
23 years$8,531$6,661$5,144$3,936$2,987$1,595
24 years$8,089$6,240$4,757$3,590$2,685$1,386
25 years$7,683$5,856$4,406$3,278$2,416$1,205
26 years$7,309$5,504$4,087$2,998$2,176$1,048
27 years$6,963$5,180$3,795$2,744$1,962$913
28 years$6,642$4,881$3,528$2,514$1,771$795
29 years$6,344$4,605$3,283$2,305$1,599$693
30 years$6,066$4,349$3,058$2,116$1,445$604
31 years$5,807$4,111$2,851$1,943$1,306$527
32 years$5,564$3,890$2,660$1,786$1,181$460
33 years$5,337$3,684$2,484$1,642$1,069$401
34 years$5,123$3,491$2,320$1,511$968$350
35 years$4,922$3,311$2,169$1,391$877$306
36 years$4,733$3,143$2,029$1,281$794$267
37 years$4,554$2,985$1,900$1,180$720$233
38 years$4,385$2,837$1,779$1,088$653$204
39 years$4,226$2,698$1,667$1,003$592$178
40 years$4,074$2,567$1,562$925$537$155
41 years$3,930$2,443$1,465$854$487$136
42 years$3,794$2,327$1,374$788$442$119
43 years$3,664$2,217$1,289$727$401$104
44 years$3,541$2,113$1,210$671$364$91
45 years$3,423$2,015$1,136$620$331$79
46 years$3,311$1,922$1,067$573$300$69
47 years$3,204$1,835$1,003$529$273$60
48 years$3,101$1,751$942$489$247$53
49 years$3,003$1,672$886$452$225$46
50 years$2,910$1,598$833$418$204$40

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $2,980,000, adding $4,273 every year, while hoping to spend $35,783 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: 58/20/22 Blend
69$2,980,000$2,980,000$2,980,000$2,980,000
70$3,288,368$3,130,428$3,084,238$3,459,483
71$3,585,708$3,245,746$3,149,487$3,691,804
72$3,912,178$3,365,515$3,215,722$3,940,749
73$4,270,711$3,489,916$3,282,940$4,211,386
74$4,664,539$3,619,137$3,351,133$4,505,818
75$5,097,220$3,753,373$3,420,295$4,826,359
76$5,572,677$3,892,829$3,490,415$5,175,557
77$6,095,231$4,037,718$3,561,485$5,556,216
78$6,669,640$4,188,262$3,633,490$5,971,422
79$7,301,149$4,344,693$3,706,418$6,424,572
80$7,995,535$4,507,251$3,780,251$6,919,405
81$8,759,163$4,676,190$3,854,973$7,460,039
82$9,599,045$4,851,771$3,930,563$8,051,007
83$10,522,909$5,034,269$4,006,997$8,697,300
84$11,539,267$5,223,969$4,084,253$9,404,412
85$12,657,498$5,421,169$4,162,301$10,178,396
86$13,887,938$5,626,182$4,241,113$11,025,916
87$15,241,972$5,839,329$4,320,655$11,954,311
88$16,732,149$6,060,952$4,400,893$12,971,662
89$18,372,291$6,291,402$4,481,786$14,086,872
90$20,177,632$6,531,048$4,563,293$15,309,744
91$22,164,956$6,780,275$4,645,369$16,651,076
92$24,352,757$7,039,483$4,727,964$18,122,763
93$26,761,413$7,309,093$4,811,026$19,737,905
94$29,413,380$7,589,541$4,894,498$21,510,934
95$32,333,400$7,881,284$4,978,318$23,457,747
96$35,548,737$8,184,797$5,062,422$25,595,854
97$39,089,434$8,500,578$5,146,740$27,944,547
98$42,988,597$8,829,147$5,231,196$30,525,077
99$47,282,703$9,171,044$5,315,710$33,360,856
100$52,011,950$9,526,837$5,400,198$36,477,675