Can I retire at age 70 with 712,000?

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 $712,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.5%
1 years$58,796$58,273$57,762$57,263$56,776$55,494
2 years$29,107$28,565$28,040$27,530$27,036$25,751
3 years$19,212$18,668$18,143$17,639$17,153$15,905
4 years$14,265$13,723$13,204$12,708$12,234$11,033
5 years$11,298$10,759$10,247$9,761$9,300$8,149
6 years$9,321$8,785$8,281$7,806$7,359$6,260
7 years$7,909$7,378$6,881$6,418$5,984$4,938
8 years$6,850$6,324$5,836$5,384$4,965$3,969
9 years$6,028$5,506$5,027$4,586$4,181$3,236
10 years$5,370$4,854$4,382$3,953$3,562$2,667
11 years$4,832$4,321$3,858$3,440$3,064$2,217
12 years$4,384$3,878$3,424$3,017$2,655$1,855
13 years$4,005$3,505$3,059$2,664$2,315$1,561
14 years$3,681$3,186$2,749$2,365$2,030$1,319
15 years$3,400$2,910$2,482$2,109$1,787$1,119
16 years$3,154$2,670$2,250$1,888$1,579$953
17 years$2,938$2,459$2,047$1,697$1,400$813
18 years$2,746$2,272$1,869$1,529$1,245$695
19 years$2,574$2,106$1,711$1,382$1,110$595
20 years$2,420$1,957$1,570$1,251$991$510
21 years$2,280$1,823$1,444$1,136$887$438
22 years$2,154$1,701$1,331$1,033$795$377
23 years$2,038$1,591$1,229$940$714$325
24 years$1,933$1,491$1,137$858$642$280
25 years$1,836$1,399$1,053$783$577$241
26 years$1,746$1,315$976$716$520$208
27 years$1,664$1,238$907$656$469$179
28 years$1,587$1,166$843$601$423$155
29 years$1,516$1,100$784$551$382$134
30 years$1,449$1,039$731$505$345$116
31 years$1,387$982$681$464$312$100
32 years$1,329$929$636$427$282$86
33 years$1,275$880$593$392$255$75
34 years$1,224$834$554$361$231$65
35 years$1,176$791$518$332$209$56
36 years$1,131$751$485$306$190$48
37 years$1,088$713$454$282$172$42
38 years$1,048$678$425$260$156$36
39 years$1,010$645$398$240$141$31
40 years$973$613$373$221$128$27
41 years$939$584$350$204$116$23
42 years$906$556$328$188$106$20
43 years$875$530$308$174$96$18
44 years$846$505$289$160$87$15
45 years$818$481$272$148$79$13
46 years$791$459$255$137$72$11
47 years$765$438$240$126$65$10
48 years$741$418$225$117$59$9
49 years$718$400$212$108$54$7
50 years$695$382$199$100$49$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $712,000, adding $6,580 every year, while hoping to spend $58,009 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: 47/32/21 Blend
69$712,000$712,000$712,000$712,000
70$791,411$753,675$742,639$823,596
71$810,414$728,884$705,797$821,961
72$829,411$700,934$665,775$813,870
73$848,340$669,609$622,408$803,888
74$867,131$634,681$575,519$791,866
75$885,706$595,907$524,926$777,641
76$903,973$553,032$470,437$761,039
77$921,834$505,786$411,852$741,876
78$939,175$453,883$348,962$719,951
79$955,868$397,021$281,551$695,050
80$971,773$334,882$209,389$666,943
81$986,730$267,127$132,239$635,383
82$1,000,561$193,401$49,854$600,106
83$1,013,069$113,328$0$560,825
84$1,024,031$26,510$0$525,765
85$1,033,202$0$0$498,541
86$1,040,307$0$0$491,439
87$1,045,041$0$0$492,399
88$1,047,064$0$0$491,907
89$1,046,000$0$0$489,768
90$1,041,430$0$0$485,763
91$1,032,888$0$0$479,649
92$1,019,860$0$0$471,159
93$1,001,774$0$0$459,994
94$977,997$0$0$445,824
95$947,827$0$0$428,285
96$910,487$0$0$406,973
97$865,116$0$0$381,438
98$810,763$0$0$351,188
99$746,375$0$0$315,673
100$670,786$0$0$274,289