Can I retire at age 70 with 940,000?

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 $940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$77,624$76,933$76,258$75,600$74,957$74,205
2 years$38,428$37,712$37,019$36,346$35,694$34,936
3 years$25,364$24,645$23,953$23,287$22,646$21,906
4 years$18,834$18,117$17,432$16,777$16,151$15,436
5 years$14,916$14,204$13,528$12,886$12,278$11,588
6 years$12,305$11,599$10,933$10,305$9,715$9,052
7 years$10,441$9,740$9,085$8,473$7,901$7,265
8 years$9,044$8,349$7,705$7,108$6,555$5,946
9 years$7,958$7,270$6,636$6,054$5,520$4,938
10 years$7,089$6,408$5,786$5,219$4,703$4,147
11 years$6,379$5,704$5,094$4,542$4,045$3,515
12 years$5,788$5,120$4,520$3,984$3,505$3,001
13 years$5,288$4,627$4,039$3,517$3,057$2,577
14 years$4,859$4,206$3,629$3,122$2,679$2,224
15 years$4,489$3,842$3,276$2,784$2,359$1,927
16 years$4,165$3,525$2,970$2,493$2,085$1,676
17 years$3,879$3,246$2,703$2,240$1,849$1,462
18 years$3,625$3,000$2,467$2,019$1,644$1,278
19 years$3,399$2,780$2,259$1,824$1,465$1,120
20 years$3,195$2,584$2,073$1,652$1,309$983
21 years$3,011$2,406$1,907$1,499$1,171$864
22 years$2,843$2,246$1,757$1,363$1,050$761
23 years$2,691$2,101$1,623$1,242$942$671
24 years$2,552$1,968$1,501$1,132$847$592
25 years$2,423$1,847$1,390$1,034$762$523
26 years$2,305$1,736$1,289$946$687$463
27 years$2,196$1,634$1,197$865$619$409
28 years$2,095$1,540$1,113$793$559$362
29 years$2,001$1,452$1,036$727$504$321
30 years$1,913$1,372$965$667$456$285
31 years$1,832$1,297$899$613$412$252
32 years$1,755$1,227$839$563$373$224
33 years$1,683$1,162$783$518$337$199
34 years$1,616$1,101$732$477$305$176
35 years$1,553$1,045$684$439$277$156
36 years$1,493$991$640$404$251$139
37 years$1,437$942$599$372$227$123
38 years$1,383$895$561$343$206$110
39 years$1,333$851$526$316$187$97
40 years$1,285$810$493$292$169$87
41 years$1,240$771$462$269$154$77
42 years$1,197$734$433$248$139$68
43 years$1,156$699$407$229$127$61
44 years$1,117$667$382$212$115$54
45 years$1,080$636$358$196$104$48
46 years$1,044$606$337$181$95$43
47 years$1,011$579$316$167$86$38
48 years$978$552$297$154$78$34
49 years$947$528$279$143$71$30
50 years$918$504$263$132$64$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $940,000, adding $6,982 every year, while hoping to spend $36,764 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: 49/37/14 Blend
69$940,000$940,000$940,000$940,000
70$1,043,082$993,262$978,692$1,089,841
71$1,110,360$1,002,815$972,362$1,132,333
72$1,183,268$1,011,604$964,587$1,174,078
73$1,262,341$1,019,553$955,281$1,218,608
74$1,348,169$1,026,580$944,352$1,266,195
75$1,441,399$1,032,600$931,704$1,317,142
76$1,542,744$1,037,519$917,239$1,371,784
77$1,652,987$1,041,241$900,849$1,430,491
78$1,772,991$1,043,660$882,427$1,493,672
79$1,903,704$1,044,668$861,856$1,561,780
80$2,046,170$1,044,145$839,017$1,635,317
81$2,201,539$1,041,968$813,784$1,714,836
82$2,371,076$1,038,005$786,025$1,800,950
83$2,556,173$1,032,113$755,604$1,894,336
84$2,758,361$1,024,146$722,375$1,995,744
85$2,979,329$1,013,944$686,190$2,106,001
86$3,220,933$1,001,340$646,890$2,226,022
87$3,485,219$986,156$604,311$2,356,820
88$3,774,438$968,204$558,282$2,499,513
89$4,091,069$947,285$508,624$2,655,335
90$4,437,844$923,188$455,149$2,825,653
91$4,817,769$895,689$397,661$3,011,975
92$5,234,155$864,551$335,956$3,215,969
93$5,690,649$829,524$269,820$3,439,474
94$6,191,267$790,343$199,032$3,684,526
95$6,740,434$746,728$123,357$3,953,370
96$7,343,022$698,382$42,553$4,248,488
97$8,004,399$644,991$0$4,572,621
98$8,730,477$586,224$0$4,935,317
99$9,527,767$521,731$0$5,340,602
100$10,403,445$451,141$0$5,785,841