Can I retire at age 70 with 711,000?

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 $711,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.7%
1 years$58,714$58,191$57,680$57,182$56,696$55,826
2 years$29,066$28,525$28,000$27,492$26,998$26,123
3 years$19,185$18,641$18,118$17,614$17,129$16,277
4 years$14,245$13,703$13,185$12,690$12,216$11,394
5 years$11,282$10,744$10,232$9,747$9,287$8,496
6 years$9,308$8,773$8,269$7,795$7,348$6,590
7 years$7,898$7,368$6,872$6,409$5,976$5,251
8 years$6,841$6,315$5,828$5,376$4,958$4,265
9 years$6,019$5,499$5,019$4,579$4,175$3,515
10 years$5,362$4,847$4,376$3,947$3,557$2,929
11 years$4,825$4,315$3,853$3,435$3,060$2,463
12 years$4,378$3,873$3,419$3,013$2,651$2,085
13 years$3,999$3,500$3,055$2,660$2,312$1,776
14 years$3,676$3,181$2,745$2,361$2,027$1,519
15 years$3,395$2,906$2,478$2,106$1,784$1,305
16 years$3,150$2,666$2,247$1,886$1,577$1,125
17 years$2,934$2,456$2,044$1,694$1,398$972
18 years$2,742$2,269$1,866$1,527$1,243$842
19 years$2,571$2,103$1,709$1,380$1,108$731
20 years$2,416$1,954$1,568$1,250$990$635
21 years$2,277$1,820$1,442$1,134$886$553
22 years$2,151$1,699$1,329$1,031$794$482
23 years$2,035$1,589$1,227$939$713$421
24 years$1,930$1,489$1,135$856$641$368
25 years$1,833$1,397$1,051$782$576$322
26 years$1,744$1,313$975$715$519$282
27 years$1,661$1,236$905$655$468$246
28 years$1,585$1,165$842$600$422$216
29 years$1,514$1,099$783$550$381$189
30 years$1,447$1,038$730$505$345$166
31 years$1,385$981$680$464$312$146
32 years$1,328$928$635$426$282$128
33 years$1,273$879$593$392$255$112
34 years$1,222$833$554$360$231$98
35 years$1,174$790$518$332$209$86
36 years$1,129$750$484$306$190$76
37 years$1,087$712$453$282$172$67
38 years$1,046$677$424$260$156$59
39 years$1,008$644$398$239$141$52
40 years$972$612$373$221$128$45
41 years$938$583$349$204$116$40
42 years$905$555$328$188$105$35
43 years$874$529$308$173$96$31
44 years$845$504$289$160$87$27
45 years$817$481$271$148$79$24
46 years$790$459$255$137$72$21
47 years$764$438$239$126$65$18
48 years$740$418$225$117$59$16
49 years$717$399$211$108$54$14
50 years$694$381$199$100$49$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $711,000, adding $4,125 every year, while hoping to spend $57,089 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: 79/11/10 Blend
69$711,000$711,000$711,000$711,000
70$787,777$750,094$739,073$848,379
71$807,388$726,106$703,090$864,771
72$827,086$699,030$663,988$874,925
73$846,819$668,653$621,602$884,395
74$866,530$634,752$575,761$893,087
75$886,151$597,090$526,284$900,897
76$905,607$555,416$472,983$907,711
77$924,813$509,466$415,663$913,405
78$943,674$458,959$354,117$917,842
79$962,081$403,601$288,133$920,872
80$979,914$343,078$217,485$922,331
81$997,036$277,059$141,942$922,038
82$1,013,296$205,197$61,259$919,795
83$1,028,522$127,122$0$915,386
84$1,042,526$42,445$0$911,224
85$1,055,094$0$0$911,546
86$1,065,991$0$0$915,512
87$1,074,952$0$0$922,920
88$1,081,685$0$0$928,374
89$1,085,863$0$0$931,592
90$1,087,122$0$0$932,256
91$1,085,062$0$0$930,015
92$1,079,233$0$0$924,481
93$1,069,140$0$0$915,219
94$1,054,232$0$0$901,750
95$1,033,898$0$0$883,543
96$1,007,463$0$0$860,007
97$974,176$0$0$830,491
98$933,209$0$0$794,271
99$883,643$0$0$750,548
100$824,461$0$0$698,435