Can I retire at age 70 with 2,990,000?

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 $2,990,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.4%
1 years$246,911$244,712$242,566$240,472$238,427$232,192
2 years$122,233$119,957$117,751$115,611$113,537$107,298
3 years$80,679$78,393$76,192$74,073$72,032$65,984
4 years$59,907$57,627$55,449$53,366$51,374$45,564
5 years$47,446$45,180$43,030$40,990$39,054$33,497
6 years$39,142$36,893$34,775$32,780$30,902$25,604
7 years$33,213$30,983$28,898$26,950$25,131$20,093
8 years$28,768$26,558$24,508$22,608$20,849$16,068
9 years$25,312$23,124$21,109$19,257$17,558$13,029
10 years$22,550$20,382$18,403$16,600$14,960$10,679
11 years$20,291$18,145$16,202$14,447$12,866$8,825
12 years$18,410$16,286$14,379$12,672$11,150$7,342
13 years$16,819$14,718$12,846$11,187$9,723$6,141
14 years$15,457$13,378$11,542$9,931$8,523$5,159
15 years$14,278$12,221$10,421$8,856$7,504$4,349
16 years$13,247$11,213$9,448$7,930$6,632$3,677
17 years$12,338$10,326$8,598$7,125$5,881$3,116
18 years$11,531$9,542$7,849$6,421$5,229$2,647
19 years$10,810$8,844$7,185$5,802$4,660$2,252
20 years$10,162$8,218$6,594$5,255$4,163$1,919
21 years$9,576$7,655$6,065$4,769$3,725$1,637
22 years$9,045$7,145$5,590$4,336$3,339$1,398
23 years$8,560$6,683$5,161$3,949$2,997$1,195
24 years$8,116$6,261$4,773$3,602$2,694$1,022
25 years$7,709$5,876$4,421$3,289$2,424$874
26 years$7,333$5,523$4,100$3,008$2,184$749
27 years$6,986$5,197$3,808$2,753$1,969$642
28 years$6,664$4,897$3,540$2,522$1,777$550
29 years$6,365$4,620$3,294$2,313$1,604$471
30 years$6,086$4,363$3,068$2,123$1,449$404
31 years$5,826$4,125$2,860$1,950$1,310$347
32 years$5,583$3,903$2,669$1,792$1,185$298
33 years$5,355$3,696$2,492$1,648$1,073$255
34 years$5,140$3,503$2,328$1,516$971$219
35 years$4,939$3,323$2,177$1,396$880$188
36 years$4,749$3,154$2,036$1,285$797$162
37 years$4,570$2,995$1,906$1,184$722$139
38 years$4,400$2,846$1,785$1,091$655$119
39 years$4,240$2,707$1,672$1,006$594$102
40 years$4,088$2,575$1,567$928$539$88
41 years$3,944$2,451$1,470$856$489$75
42 years$3,807$2,335$1,379$790$443$65
43 years$3,676$2,224$1,294$730$402$56
44 years$3,553$2,120$1,214$674$365$48
45 years$3,434$2,022$1,140$622$332$41
46 years$3,322$1,929$1,071$575$301$35
47 years$3,214$1,841$1,006$531$273$30
48 years$3,112$1,757$945$491$248$26
49 years$3,013$1,678$889$453$226$22
50 years$2,919$1,603$835$419$205$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $2,990,000, adding $4,786 every year, while hoping to spend $32,860 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: 44/35/21 Blend
69$2,990,000$2,990,000$2,990,000$2,990,000
70$3,299,917$3,141,447$3,095,102$3,424,850
71$3,601,545$3,260,415$3,163,825$3,632,454
72$3,932,839$3,384,111$3,233,749$3,853,759
73$4,296,788$3,512,732$3,304,879$4,092,970
74$4,696,689$3,646,484$3,377,221$4,351,763
75$5,136,171$3,785,581$3,450,777$4,631,976
76$5,619,233$3,930,247$3,525,551$4,935,631
77$6,150,281$4,080,716$3,601,543$5,264,953
78$6,734,169$4,237,231$3,678,755$5,622,382
79$7,376,246$4,400,047$3,757,185$6,010,607
80$8,082,403$4,569,429$3,836,830$6,432,580
81$8,859,133$4,745,656$3,917,688$6,891,552
82$9,713,586$4,929,015$3,999,753$7,391,095
83$10,653,646$5,119,810$4,083,018$7,935,139
84$11,687,993$5,318,356$4,167,475$8,528,010
85$12,826,195$5,524,983$4,253,112$9,174,465
86$14,078,794$5,740,034$4,339,919$9,879,738
87$15,457,404$5,963,869$4,427,879$10,649,592
88$16,974,824$6,196,863$4,516,978$11,490,364
89$18,645,155$6,439,408$4,607,195$12,409,034
90$20,483,934$6,691,912$4,698,510$13,413,280
91$22,508,284$6,954,804$4,790,898$14,511,556
92$24,737,069$7,228,530$4,884,334$15,713,168
93$27,191,079$7,513,557$4,978,787$17,028,361
94$29,893,218$7,810,370$5,074,226$18,468,413
95$32,868,728$8,119,480$5,170,614$20,045,743
96$36,145,422$8,441,418$5,267,913$21,774,023
97$39,753,947$8,776,739$5,366,080$23,668,309
98$43,728,074$9,126,025$5,465,069$25,745,179
99$48,105,019$9,489,881$5,564,830$28,022,889
100$52,925,787$9,868,942$5,665,308$30,521,543