Can I retire at age 70 with 723,000?

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 $723,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$59,705$59,173$58,654$58,148$57,653$57,314
2 years$29,557$29,006$28,473$27,956$27,454$27,112
3 years$19,509$18,956$18,424$17,911$17,418$17,083
4 years$14,486$13,935$13,408$12,904$12,423$12,098
5 years$11,473$10,925$10,405$9,912$9,443$9,130
6 years$9,465$8,921$8,409$7,926$7,472$7,170
7 years$8,031$7,492$6,988$6,517$6,077$5,787
8 years$6,956$6,422$5,926$5,467$5,041$4,763
9 years$6,121$5,591$5,104$4,656$4,246$3,979
10 years$5,453$4,929$4,450$4,014$3,617$3,362
11 years$4,906$4,388$3,918$3,493$3,111$2,867
12 years$4,452$3,938$3,477$3,064$2,696$2,463
13 years$4,067$3,559$3,106$2,705$2,351$2,129
14 years$3,738$3,235$2,791$2,401$2,061$1,849
15 years$3,452$2,955$2,520$2,142$1,815$1,613
16 years$3,203$2,711$2,285$1,918$1,604$1,413
17 years$2,983$2,497$2,079$1,723$1,422$1,241
18 years$2,788$2,307$1,898$1,553$1,264$1,092
19 years$2,614$2,138$1,737$1,403$1,127$964
20 years$2,457$1,987$1,594$1,271$1,007$853
21 years$2,316$1,851$1,467$1,153$901$755
22 years$2,187$1,728$1,352$1,049$807$670
23 years$2,070$1,616$1,248$955$725$595
24 years$1,963$1,514$1,154$871$651$529
25 years$1,864$1,421$1,069$795$586$471
26 years$1,773$1,335$992$727$528$420
27 years$1,689$1,257$921$666$476$375
28 years$1,611$1,184$856$610$430$334
29 years$1,539$1,117$796$559$388$298
30 years$1,472$1,055$742$513$350$267
31 years$1,409$997$692$471$317$238
32 years$1,350$944$645$433$287$213
33 years$1,295$894$603$398$259$191
34 years$1,243$847$563$367$235$171
35 years$1,194$803$526$337$213$153
36 years$1,148$763$492$311$193$137
37 years$1,105$724$461$286$175$123
38 years$1,064$688$432$264$158$110
39 years$1,025$655$404$243$144$98
40 years$988$623$379$224$130$88
41 years$954$593$355$207$118$79
42 years$920$565$333$191$107$71
43 years$889$538$313$176$97$64
44 years$859$513$294$163$88$57
45 years$830$489$276$150$80$51
46 years$803$466$259$139$73$46
47 years$777$445$243$128$66$41
48 years$752$425$229$119$60$37
49 years$729$406$215$110$55$33
50 years$706$388$202$101$50$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $723,000, adding $5,807 every year, while hoping to spend $58,565 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: 79/14/7 Blend
69$723,000$723,000$723,000$723,000
70$802,736$764,417$753,210$865,061
71$822,302$739,561$716,130$881,895
72$841,902$711,524$675,845$892,102
73$861,475$680,088$632,186$901,549
74$880,957$645,024$584,975$910,132
75$900,272$606,087$534,029$917,737
76$919,334$563,020$479,154$924,237
77$938,049$515,551$420,148$929,495
78$956,309$463,391$356,802$933,361
79$973,992$406,237$288,895$935,669
80$990,964$343,767$216,197$936,236
81$1,007,071$275,641$138,469$934,863
82$1,022,145$201,500$55,460$931,333
83$1,035,996$120,966$0$925,406
84$1,048,412$33,637$0$919,293
85$1,059,156$0$0$914,813
86$1,067,967$0$0$916,909
87$1,074,550$0$0$922,236
88$1,078,581$0$0$925,328
89$1,079,697$0$0$925,869
90$1,077,497$0$0$923,510
91$1,071,535$0$0$917,861
92$1,061,314$0$0$908,491
93$1,046,286$0$0$894,921
94$1,025,842$0$0$876,620
95$999,307$0$0$853,000
96$965,933$0$0$823,411
97$924,893$0$0$787,131
98$875,271$0$0$743,362
99$816,052$0$0$691,221
100$746,116$0$0$629,730