Can I retire at age 70 with 590,000?

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 $590,000?

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$48,722$48,288$47,864$47,451$47,047$45,817
2 years$24,120$23,670$23,235$22,813$22,404$21,172
3 years$15,920$15,469$15,035$14,616$14,214$13,020
4 years$11,821$11,371$10,941$10,530$10,137$8,991
5 years$9,362$8,915$8,491$8,088$7,706$6,610
6 years$7,724$7,280$6,862$6,468$6,098$5,052
7 years$6,554$6,114$5,702$5,318$4,959$3,965
8 years$5,677$5,241$4,836$4,461$4,114$3,171
9 years$4,995$4,563$4,165$3,800$3,465$2,571
10 years$4,450$4,022$3,631$3,276$2,952$2,107
11 years$4,004$3,580$3,197$2,851$2,539$1,741
12 years$3,633$3,214$2,837$2,500$2,200$1,449
13 years$3,319$2,904$2,535$2,208$1,919$1,212
14 years$3,050$2,640$2,278$1,960$1,682$1,018
15 years$2,817$2,412$2,056$1,748$1,481$858
16 years$2,614$2,213$1,864$1,565$1,309$726
17 years$2,435$2,038$1,697$1,406$1,160$615
18 years$2,275$1,883$1,549$1,267$1,032$522
19 years$2,133$1,745$1,418$1,145$920$444
20 years$2,005$1,622$1,301$1,037$821$379
21 years$1,890$1,510$1,197$941$735$323
22 years$1,785$1,410$1,103$856$659$276
23 years$1,689$1,319$1,018$779$591$236
24 years$1,602$1,236$942$711$532$202
25 years$1,521$1,159$872$649$478$173
26 years$1,447$1,090$809$593$431$148
27 years$1,378$1,026$751$543$389$127
28 years$1,315$966$698$498$351$108
29 years$1,256$912$650$456$317$93
30 years$1,201$861$605$419$286$80
31 years$1,150$814$564$385$259$68
32 years$1,102$770$527$354$234$59
33 years$1,057$729$492$325$212$50
34 years$1,014$691$459$299$192$43
35 years$975$656$430$275$174$37
36 years$937$622$402$254$157$32
37 years$902$591$376$234$143$27
38 years$868$562$352$215$129$23
39 years$837$534$330$199$117$20
40 years$807$508$309$183$106$17
41 years$778$484$290$169$96$15
42 years$751$461$272$156$88$13
43 years$725$439$255$144$79$11
44 years$701$418$240$133$72$9
45 years$678$399$225$123$65$8
46 years$655$381$211$113$59$7
47 years$634$363$199$105$54$6
48 years$614$347$187$97$49$5
49 years$595$331$175$89$45$4
50 years$576$316$165$83$40$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $590,000, adding $4,455 every year, while hoping to spend $47,330 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: 62/18/20 Blend
69$590,000$590,000$590,000$590,000
70$654,775$623,505$614,360$691,725
71$671,204$603,698$584,583$697,383
72$687,721$581,335$552,221$697,882
73$704,288$556,239$517,139$697,339
74$720,856$528,225$479,194$695,659
75$737,373$497,098$438,237$692,739
76$753,779$462,650$394,112$688,464
77$770,006$424,661$346,657$682,715
78$785,978$382,901$295,701$675,360
79$801,608$337,123$241,067$666,258
80$816,799$287,069$182,569$655,254
81$831,442$232,465$120,015$642,184
82$845,416$173,023$53,203$626,868
83$858,584$108,437$0$609,112
84$870,794$38,384$0$592,566
85$881,875$0$0$585,510
86$891,637$0$0$583,802
87$899,870$0$0$588,626
88$906,336$0$0$592,219
89$910,774$0$0$594,400
90$912,893$0$0$594,970
91$912,369$0$0$593,706
92$908,841$0$0$590,361
93$901,911$0$0$584,662
94$891,136$0$0$576,306
95$876,024$0$0$564,956
96$856,032$0$0$550,239
97$830,556$0$0$531,742
98$798,929$0$0$509,007
99$760,411$0$0$481,529
100$714,184$0$0$448,747