Can I retire at age 70 with 593,000?

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 $593,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14%
1 years$48,969$48,533$48,108$47,692$47,287$46,503
2 years$24,242$23,791$23,353$22,929$22,517$21,731
3 years$16,001$15,548$15,111$14,691$14,286$13,520
4 years$11,881$11,429$10,997$10,584$10,189$9,450
5 years$9,410$8,961$8,534$8,129$7,745$7,035
6 years$7,763$7,317$6,897$6,501$6,129$5,448
7 years$6,587$6,145$5,731$5,345$4,984$4,334
8 years$5,705$5,267$4,861$4,484$4,135$3,514
9 years$5,020$4,586$4,186$3,819$3,482$2,891
10 years$4,472$4,042$3,650$3,292$2,967$2,405
11 years$4,024$3,599$3,213$2,865$2,552$2,018
12 years$3,651$3,230$2,852$2,513$2,211$1,705
13 years$3,336$2,919$2,548$2,219$1,928$1,449
14 years$3,066$2,653$2,289$1,970$1,690$1,237
15 years$2,832$2,424$2,067$1,756$1,488$1,061
16 years$2,627$2,224$1,874$1,573$1,315$912
17 years$2,447$2,048$1,705$1,413$1,166$787
18 years$2,287$1,892$1,557$1,273$1,037$680
19 years$2,144$1,754$1,425$1,151$924$589
20 years$2,015$1,630$1,308$1,042$826$511
21 years$1,899$1,518$1,203$946$739$444
22 years$1,794$1,417$1,109$860$662$386
23 years$1,698$1,325$1,024$783$594$336
24 years$1,610$1,242$947$714$534$293
25 years$1,529$1,165$877$652$481$256
26 years$1,454$1,095$813$596$433$223
27 years$1,385$1,031$755$546$390$195
28 years$1,322$971$702$500$352$170
29 years$1,262$916$653$459$318$149
30 years$1,207$865$609$421$287$130
31 years$1,155$818$567$387$260$114
32 years$1,107$774$529$355$235$100
33 years$1,062$733$494$327$213$87
34 years$1,019$695$462$301$193$77
35 years$979$659$432$277$174$67
36 years$942$625$404$255$158$59
37 years$906$594$378$235$143$51
38 years$873$565$354$216$130$45
39 years$841$537$332$200$118$40
40 years$811$511$311$184$107$35
41 years$782$486$291$170$97$30
42 years$755$463$273$157$88$27
43 years$729$441$257$145$80$23
44 years$705$421$241$134$72$20
45 years$681$401$226$123$66$18
46 years$659$383$212$114$60$16
47 years$637$365$200$105$54$14
48 years$617$348$188$97$49$12
49 years$598$333$176$90$45$11
50 years$579$318$166$83$41$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $593,000, adding $5,725 every year, while hoping to spend $22,293 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: 61/19/20 Blend
69$593,000$593,000$593,000$593,000
70$659,391$627,962$618,771$695,853
71$702,930$635,013$615,780$728,225
72$750,162$641,662$611,942$760,566
73$801,441$647,866$607,205$795,354
74$857,155$653,579$601,514$832,831
75$917,733$658,752$594,812$873,262
76$983,643$663,332$587,040$916,941
77$1,055,404$667,265$578,135$964,192
78$1,133,584$670,490$568,031$1,015,371
79$1,218,811$672,945$556,661$1,070,874
80$1,311,773$674,562$543,953$1,131,135
81$1,413,229$675,272$529,831$1,196,636
82$1,524,015$674,997$514,217$1,267,906
83$1,645,051$673,657$497,029$1,345,531
84$1,777,348$671,168$478,181$1,430,156
85$1,922,021$667,439$457,584$1,522,495
86$2,080,297$662,374$435,143$1,623,334
87$2,253,528$655,870$410,761$1,733,540
88$2,443,201$647,821$384,334$1,854,071
89$2,650,954$638,112$355,757$1,985,984
90$2,878,593$626,621$324,916$2,130,445
91$3,128,105$613,220$291,695$2,288,739
92$3,401,676$597,773$255,973$2,462,286
93$3,701,720$580,136$217,620$2,652,650
94$4,030,889$560,156$176,504$2,861,559
95$4,392,109$537,673$132,486$3,090,918
96$4,788,600$512,516$85,421$3,342,828
97$5,223,912$484,503$35,156$3,619,607
98$5,701,951$453,444$0$3,923,812
99$6,227,025$419,137$0$4,262,207
100$6,803,875$381,369$0$4,642,221