Can I retire at age 70 with 624,000?

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 $624,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.2%
1 years$51,529$51,070$50,623$50,185$49,759$48,108
2 years$25,510$25,034$24,574$24,128$23,695$22,048
3 years$16,837$16,360$15,901$15,459$15,033$13,441
4 years$12,502$12,027$11,572$11,137$10,722$9,198
5 years$9,902$9,429$8,980$8,554$8,150$6,698
6 years$8,169$7,699$7,257$6,841$6,449$5,070
7 years$6,931$6,466$6,031$5,624$5,245$3,938
8 years$6,004$5,543$5,115$4,718$4,351$3,116
9 years$5,283$4,826$4,405$4,019$3,664$2,499
10 years$4,706$4,254$3,841$3,464$3,122$2,025
11 years$4,235$3,787$3,381$3,015$2,685$1,654
12 years$3,842$3,399$3,001$2,645$2,327$1,360
13 years$3,510$3,072$2,681$2,335$2,029$1,124
14 years$3,226$2,792$2,409$2,073$1,779$932
15 years$2,980$2,551$2,175$1,848$1,566$776
16 years$2,765$2,340$1,972$1,655$1,384$648
17 years$2,575$2,155$1,794$1,487$1,227$542
18 years$2,407$1,991$1,638$1,340$1,091$454
19 years$2,256$1,846$1,499$1,211$973$381
20 years$2,121$1,715$1,376$1,097$869$320
21 years$1,999$1,597$1,266$995$777$269
22 years$1,888$1,491$1,167$905$697$227
23 years$1,786$1,395$1,077$824$626$191
24 years$1,694$1,307$996$752$562$161
25 years$1,609$1,226$923$686$506$136
26 years$1,530$1,153$856$628$456$115
27 years$1,458$1,085$795$575$411$97
28 years$1,391$1,022$739$526$371$82
29 years$1,328$964$687$483$335$69
30 years$1,270$911$640$443$302$58
31 years$1,216$861$597$407$273$49
32 years$1,165$814$557$374$247$42
33 years$1,117$771$520$344$224$35
34 years$1,073$731$486$316$203$30
35 years$1,031$693$454$291$184$25
36 years$991$658$425$268$166$21
37 years$954$625$398$247$151$18
38 years$918$594$372$228$137$15
39 years$885$565$349$210$124$13
40 years$853$537$327$194$112$11
41 years$823$512$307$179$102$9
42 years$794$487$288$165$93$8
43 years$767$464$270$152$84$7
44 years$741$443$253$141$76$6
45 years$717$422$238$130$69$5
46 years$693$403$223$120$63$4
47 years$671$384$210$111$57$3
48 years$649$367$197$102$52$3
49 years$629$350$185$95$47$2
50 years$609$335$174$87$43$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $624,000, adding $3,294 every year, while hoping to spend $54,439 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: 64/20/16 Blend
69$624,000$624,000$624,000$624,000
70$691,046$657,974$648,302$732,354
71$703,610$632,292$612,097$734,772
72$715,631$603,527$572,855$730,873
73$726,996$571,470$530,417$725,297
74$737,579$535,902$484,615$717,881
75$747,239$496,588$435,276$708,449
76$755,818$453,282$382,220$696,807
77$763,143$405,724$325,255$682,746
78$769,016$353,637$264,184$666,039
79$773,222$296,732$198,800$646,437
80$775,518$234,699$128,888$623,670
81$775,637$167,215$54,221$597,442
82$773,279$93,936$0$567,434
83$768,115$14,500$0$537,642
84$759,777$0$0$513,499
85$747,858$0$0$501,096
86$731,906$0$0$489,016
87$711,422$0$0$473,713
88$685,852$0$0$454,795
89$654,582$0$0$431,830
90$616,934$0$0$404,338
91$572,157$0$0$371,788
92$519,420$0$0$333,594
93$457,804$0$0$289,106
94$386,294$0$0$237,608
95$303,766$0$0$178,305
96$208,979$0$0$110,322
97$100,563$0$0$32,690
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0