Can I retire at age 70 with 587,000?

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 $587,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.8%
1 years$48,474$48,042$47,621$47,210$46,808$45,147
2 years$23,997$23,550$23,117$22,697$22,290$20,634
3 years$15,839$15,390$14,958$14,542$14,141$12,543
4 years$11,761$11,313$10,886$10,477$10,086$8,557
5 years$9,315$8,870$8,448$8,047$7,667$6,212
6 years$7,684$7,243$6,827$6,435$6,067$4,686
7 years$6,520$6,083$5,673$5,291$4,934$3,628
8 years$5,648$5,214$4,811$4,438$4,093$2,860
9 years$4,969$4,540$4,144$3,781$3,447$2,286
10 years$4,427$4,001$3,613$3,259$2,937$1,845
11 years$3,983$3,562$3,181$2,836$2,526$1,502
12 years$3,614$3,197$2,823$2,488$2,189$1,230
13 years$3,302$2,889$2,522$2,196$1,909$1,012
14 years$3,035$2,626$2,266$1,950$1,673$836
15 years$2,803$2,399$2,046$1,739$1,473$693
16 years$2,601$2,201$1,855$1,557$1,302$576
17 years$2,422$2,027$1,688$1,399$1,154$479
18 years$2,264$1,873$1,541$1,261$1,027$400
19 years$2,122$1,736$1,411$1,139$915$334
20 years$1,995$1,613$1,295$1,032$817$280
21 years$1,880$1,503$1,191$936$731$234
22 years$1,776$1,403$1,097$851$656$196
23 years$1,680$1,312$1,013$775$588$165
24 years$1,593$1,229$937$707$529$138
25 years$1,513$1,154$868$646$476$116
26 years$1,440$1,084$805$590$429$97
27 years$1,371$1,020$748$540$387$82
28 years$1,308$961$695$495$349$69
29 years$1,250$907$647$454$315$58
30 years$1,195$857$602$417$285$49
31 years$1,144$810$562$383$257$41
32 years$1,096$766$524$352$233$34
33 years$1,051$726$489$323$211$29
34 years$1,009$688$457$298$191$24
35 years$970$652$427$274$173$20
36 years$932$619$400$252$156$17
37 years$897$588$374$232$142$14
38 years$864$559$350$214$129$12
39 years$832$531$328$198$117$10
40 years$803$506$308$182$106$9
41 years$774$481$289$168$96$7
42 years$747$458$271$155$87$6
43 years$722$437$254$143$79$5
44 years$697$416$238$132$72$4
45 years$674$397$224$122$65$4
46 years$652$379$210$113$59$3
47 years$631$361$198$104$54$3
48 years$611$345$186$96$49$2
49 years$592$329$174$89$44$2
50 years$573$315$164$82$40$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $587,000, adding $3,564 every year, while hoping to spend $26,163 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: 37/38/25 Blend
69$587,000$587,000$587,000$587,000
70$650,550$619,439$610,341$669,635
71$689,069$621,955$602,950$686,474
72$730,640$623,716$594,435$701,983
73$775,547$624,660$584,730$718,220
74$824,101$624,716$573,767$735,268
75$876,645$623,814$561,474$753,219
76$933,557$621,874$547,776$772,176
77$995,249$618,815$532,596$792,255
78$1,062,177$614,550$515,852$813,586
79$1,134,843$608,987$497,456$836,315
80$1,213,797$602,027$477,321$860,604
81$1,299,645$593,567$455,352$886,634
82$1,393,054$583,497$431,451$914,608
83$1,494,757$571,700$405,516$944,753
84$1,605,561$558,052$377,440$977,320
85$1,726,355$542,424$347,112$1,012,592
86$1,858,117$524,676$314,413$1,050,881
87$2,001,922$504,662$279,223$1,092,536
88$2,158,955$482,228$241,414$1,137,946
89$2,330,520$457,208$200,853$1,187,543
90$2,518,051$429,430$157,400$1,241,806
91$2,723,131$398,710$110,911$1,301,271
92$2,947,498$364,855$61,234$1,366,529
93$3,193,068$327,658$8,211$1,438,239
94$3,461,952$286,904$0$1,517,134
95$3,756,472$242,364$0$1,616,928
96$4,079,188$193,795$0$1,728,794
97$4,432,917$140,943$0$1,851,587
98$4,820,762$83,536$0$1,986,463
99$5,246,141$21,291$0$2,134,703
100$5,712,819$0$0$2,297,721