Can I retire at age 70 with 8,400,000?

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 $8,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%20%
1 years$693,664$687,485$681,457$675,573$669,828$642,998
2 years$343,398$337,003$330,804$324,795$318,966$292,272
3 years$226,658$220,235$214,052$208,099$202,365$176,648
4 years$168,299$161,896$155,775$149,924$144,328$119,783
5 years$133,293$126,928$120,888$115,156$109,716$86,406
6 years$109,964$103,647$97,695$92,091$86,815$64,754
7 years$93,306$87,042$81,185$75,713$70,604$49,783
8 years$80,819$74,611$68,852$63,514$58,572$38,972
9 years$71,111$64,963$59,302$54,100$49,326$30,915
10 years$63,350$57,261$51,701$46,634$42,029$24,770
11 years$57,004$50,976$45,517$40,586$36,146$20,000
12 years$51,719$45,754$40,395$35,599$31,323$16,245
13 years$47,251$41,348$36,090$31,429$27,315$13,259
14 years$43,425$37,584$32,427$27,899$23,944$10,862
15 years$40,111$34,334$29,277$24,881$21,082$8,926
16 years$37,215$31,501$26,544$22,278$18,632$7,353
17 years$34,662$29,011$24,154$20,017$16,521$6,070
18 years$32,396$26,807$22,050$18,039$14,689$5,019
19 years$30,370$24,845$20,185$16,300$13,093$4,155
20 years$28,549$23,087$18,525$14,763$11,695$3,444
21 years$26,904$21,505$17,040$13,398$10,466$2,857
22 years$25,410$20,074$15,705$12,182$9,381$2,372
23 years$24,048$18,775$14,500$11,094$8,421$1,971
24 years$22,802$17,591$13,410$10,119$7,569$1,638
25 years$21,656$16,508$12,421$9,241$6,811$1,362
26 years$20,601$15,515$11,520$8,449$6,135$1,133
27 years$19,626$14,601$10,697$7,734$5,531$943
28 years$18,722$13,759$9,944$7,086$4,991$785
29 years$17,882$12,980$9,254$6,498$4,507$653
30 years$17,099$12,258$8,620$5,964$4,072$544
31 years$16,368$11,588$8,036$5,477$3,682$453
32 years$15,684$10,964$7,498$5,034$3,330$377
33 years$15,043$10,383$7,001$4,629$3,014$314
34 years$14,441$9,841$6,541$4,259$2,729$262
35 years$13,875$9,334$6,115$3,921$2,471$218
36 years$13,341$8,860$5,721$3,611$2,239$182
37 years$12,837$8,415$5,354$3,327$2,030$151
38 years$12,361$7,997$5,014$3,066$1,840$126
39 years$11,911$7,604$4,698$2,827$1,669$105
40 years$11,484$7,235$4,403$2,608$1,513$88
41 years$11,079$6,887$4,129$2,406$1,373$73
42 years$10,694$6,559$3,873$2,221$1,246$61
43 years$10,329$6,249$3,634$2,050$1,131$51
44 years$9,980$5,957$3,411$1,893$1,026$42
45 years$9,649$5,680$3,203$1,748$932$35
46 years$9,332$5,419$3,009$1,615$846$29
47 years$9,030$5,171$2,826$1,492$768$24
48 years$8,741$4,937$2,656$1,378$698$20
49 years$8,465$4,714$2,497$1,274$634$17
50 years$8,201$4,503$2,347$1,177$575$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $8,400,000, adding $4,318 every year, while hoping to spend $22,429 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: 68/19/13 Blend
69$8,400,000$8,400,000$8,400,000$8,400,000
70$9,261,254$8,816,054$8,685,854$9,863,759
71$10,182,038$9,224,176$8,952,966$10,673,339
72$11,195,989$9,651,545$9,228,274$11,555,385
73$12,312,589$10,099,079$9,512,030$12,519,506
74$13,542,282$10,567,743$9,804,492$13,573,758
75$14,896,578$11,058,546$10,105,926$14,727,003
76$16,388,162$11,572,548$10,416,607$15,988,994
77$18,031,009$12,110,857$10,736,818$17,370,464
78$19,840,522$12,674,639$11,066,851$18,883,224
79$21,833,671$13,265,111$11,407,006$20,540,276
80$24,029,157$13,883,554$11,757,593$22,355,931
81$26,447,589$14,531,306$12,118,931$24,345,941
82$29,111,677$15,209,774$12,491,348$26,527,648
83$32,046,443$15,920,428$12,875,184$28,920,143
84$35,279,466$16,664,815$13,270,788$31,544,447
85$38,841,131$17,444,551$13,678,519$34,423,700
86$42,764,927$18,261,333$14,098,750$37,583,384
87$47,087,752$19,116,941$14,531,860$41,051,558
88$51,850,270$20,013,239$14,978,246$44,859,116
89$57,097,292$20,952,183$15,438,311$49,040,083
90$62,878,197$21,935,820$15,912,475$53,631,926
91$69,247,399$22,966,301$16,401,169$58,675,907
92$76,264,861$24,045,877$16,904,836$64,217,469
93$83,996,663$25,176,911$17,423,934$70,306,662
94$92,515,621$26,361,879$17,958,934$76,998,608
95$101,901,979$27,603,375$18,510,323$84,354,021
96$112,244,163$28,904,123$19,078,601$92,439,774
97$123,639,617$30,266,975$19,664,284$101,329,527
98$136,195,725$31,694,923$20,267,904$111,104,415
99$150,030,818$33,191,104$20,890,008$121,853,811
100$165,275,300$34,758,806$21,531,161$133,676,166