Can I retire at age 70 with 706,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $706,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$58,301$57,782$57,275$56,780$56,297$55,943
2 years$28,862$28,324$27,803$27,298$26,808$26,450
3 years$19,050$18,510$17,991$17,490$17,008$16,658
4 years$14,145$13,607$13,093$12,601$12,130$11,791
5 years$11,203$10,668$10,160$9,679$9,221$8,894
6 years$9,242$8,711$8,211$7,740$7,297$6,981
7 years$7,842$7,316$6,823$6,364$5,934$5,631
8 years$6,793$6,271$5,787$5,338$4,923$4,632
9 years$5,977$5,460$4,984$4,547$4,146$3,867
10 years$5,324$4,813$4,345$3,920$3,532$3,266
11 years$4,791$4,284$3,826$3,411$3,038$2,783
12 years$4,347$3,845$3,395$2,992$2,633$2,390
13 years$3,971$3,475$3,033$2,642$2,296$2,064
14 years$3,650$3,159$2,725$2,345$2,012$1,792
15 years$3,371$2,886$2,461$2,091$1,772$1,562
16 years$3,128$2,648$2,231$1,872$1,566$1,367
17 years$2,913$2,438$2,030$1,682$1,389$1,200
18 years$2,723$2,253$1,853$1,516$1,235$1,056
19 years$2,553$2,088$1,697$1,370$1,100$931
20 years$2,399$1,940$1,557$1,241$983$823
21 years$2,261$1,807$1,432$1,126$880$728
22 years$2,136$1,687$1,320$1,024$788$646
23 years$2,021$1,578$1,219$932$708$573
24 years$1,916$1,478$1,127$850$636$509
25 years$1,820$1,387$1,044$777$572$453
26 years$1,731$1,304$968$710$516$403
27 years$1,650$1,227$899$650$465$359
28 years$1,574$1,156$836$596$419$321
29 years$1,503$1,091$778$546$379$286
30 years$1,437$1,030$724$501$342$255
31 years$1,376$974$675$460$309$228
32 years$1,318$922$630$423$280$204
33 years$1,264$873$588$389$253$182
34 years$1,214$827$550$358$229$163
35 years$1,166$785$514$330$208$146
36 years$1,121$745$481$303$188$130
37 years$1,079$707$450$280$171$117
38 years$1,039$672$421$258$155$104
39 years$1,001$639$395$238$140$94
40 years$965$608$370$219$127$84
41 years$931$579$347$202$115$75
42 years$899$551$326$187$105$67
43 years$868$525$305$172$95$60
44 years$839$501$287$159$86$54
45 years$811$477$269$147$78$48
46 years$784$455$253$136$71$43
47 years$759$435$238$125$65$39
48 years$735$415$223$116$59$35
49 years$712$396$210$107$53$31
50 years$689$378$197$99$48$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $706,000, adding $2,697 every year, while hoping to spend $59,612 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: 71/15/14 Blend
69$706,000$706,000$706,000$706,000
70$780,794$743,376$732,433$833,620
71$797,008$716,375$693,543$842,022
72$812,878$686,052$651,352$843,733
73$828,307$652,183$605,687$844,041
74$843,182$614,529$556,366$842,799
75$857,383$572,837$503,200$839,842
76$870,770$526,840$445,991$834,992
77$883,190$476,256$384,533$828,055
78$894,470$420,787$318,609$818,817
79$904,417$360,118$247,995$807,047
80$912,820$293,915$172,454$792,490
81$919,437$221,827$91,742$774,870
82$924,006$143,483$5,601$753,883
83$926,230$58,489$0$729,199
84$925,782$0$0$713,352
85$922,299$0$0$700,321
86$915,376$0$0$694,234
87$904,565$0$0$685,083
88$889,371$0$0$672,480
89$869,241$0$0$655,994
90$843,566$0$0$635,146
91$811,671$0$0$609,407
92$772,808$0$0$578,191
93$726,148$0$0$540,850
94$670,776$0$0$496,666
95$605,679$0$0$444,845
96$529,737$0$0$384,511
97$441,710$0$0$314,693
98$340,229$0$0$234,319
99$223,782$0$0$142,204
100$90,695$0$0$37,039