Can I retire at age 70 with 916,000?

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 $916,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.9%
1 years$75,642$74,969$74,311$73,670$73,043$71,277
2 years$37,447$36,749$36,073$35,418$34,782$33,014
3 years$24,717$24,016$23,342$22,693$22,067$20,352
4 years$18,353$17,654$16,987$16,349$15,739$14,089
5 years$14,535$13,841$13,183$12,557$11,964$10,385
6 years$11,991$11,302$10,653$10,042$9,467$7,960
7 years$10,175$9,492$8,853$8,256$7,699$6,264
8 years$8,813$8,136$7,508$6,926$6,387$5,024
9 years$7,755$7,084$6,467$5,899$5,379$4,086
10 years$6,908$6,244$5,638$5,085$4,583$3,359
11 years$6,216$5,559$4,963$4,426$3,942$2,785
12 years$5,640$4,989$4,405$3,882$3,416$2,325
13 years$5,153$4,509$3,936$3,427$2,979$1,951
14 years$4,735$4,098$3,536$3,042$2,611$1,644
15 years$4,374$3,744$3,193$2,713$2,299$1,391
16 years$4,058$3,435$2,895$2,429$2,032$1,180
17 years$3,780$3,164$2,634$2,183$1,802$1,004
18 years$3,533$2,923$2,404$1,967$1,602$856
19 years$3,312$2,709$2,201$1,777$1,428$731
20 years$3,113$2,518$2,020$1,610$1,275$625
21 years$2,934$2,345$1,858$1,461$1,141$535
22 years$2,771$2,189$1,713$1,328$1,023$459
23 years$2,622$2,047$1,581$1,210$918$394
24 years$2,486$1,918$1,462$1,103$825$338
25 years$2,362$1,800$1,354$1,008$743$291
26 years$2,247$1,692$1,256$921$669$250
27 years$2,140$1,592$1,166$843$603$215
28 years$2,042$1,500$1,084$773$544$185
29 years$1,950$1,415$1,009$709$491$159
30 years$1,865$1,337$940$650$444$137
31 years$1,785$1,264$876$597$401$118
32 years$1,710$1,196$818$549$363$102
33 years$1,640$1,132$763$505$329$88
34 years$1,575$1,073$713$464$298$76
35 years$1,513$1,018$667$428$270$65
36 years$1,455$966$624$394$244$56
37 years$1,400$918$584$363$221$48
38 years$1,348$872$547$334$201$42
39 years$1,299$829$512$308$182$36
40 years$1,252$789$480$284$165$31
41 years$1,208$751$450$262$150$27
42 years$1,166$715$422$242$136$23
43 years$1,126$681$396$224$123$20
44 years$1,088$650$372$206$112$17
45 years$1,052$619$349$191$102$15
46 years$1,018$591$328$176$92$13
47 years$985$564$308$163$84$11
48 years$953$538$290$150$76$10
49 years$923$514$272$139$69$8
50 years$894$491$256$128$63$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $916,000, adding $4,323 every year, while hoping to spend $49,579 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: 56/17/27 Blend
69$916,000$916,000$916,000$916,000
70$1,013,891$965,343$951,145$1,062,922
71$1,064,556$959,893$930,257$1,091,650
72$1,118,728$952,515$907,007$1,117,401
73$1,176,711$943,061$881,264$1,144,441
74$1,238,840$931,375$852,891$1,172,913
75$1,305,482$917,293$821,744$1,202,973
76$1,377,041$900,641$787,672$1,234,796
77$1,453,959$881,231$750,519$1,268,579
78$1,536,721$858,870$710,119$1,304,541
79$1,625,859$833,347$666,301$1,342,925
80$1,721,961$804,445$618,886$1,384,005
81$1,825,667$771,930$567,686$1,428,083
82$1,937,687$735,555$512,504$1,475,496
83$2,058,794$695,061$453,137$1,526,621
84$2,189,844$650,172$389,370$1,581,875
85$2,331,774$600,597$320,980$1,641,723
86$2,485,616$546,027$247,733$1,706,683
87$2,652,504$486,137$169,387$1,777,327
88$2,833,685$420,583$85,687$1,854,295
89$3,030,531$349,002$0$1,938,293
90$3,244,552$271,010$0$2,031,156
91$3,477,407$186,200$0$2,159,118
92$3,730,924$94,145$0$2,298,520
93$4,007,112$0$0$2,450,521
94$4,308,183$0$0$2,617,448
95$4,636,573$0$0$2,818,805
96$4,994,961$0$0$3,038,635
97$5,386,297$0$0$3,278,754
98$5,813,827$0$0$3,541,166
99$6,281,125$0$0$3,828,076
100$6,792,129$0$0$4,141,910