Can I retire at age 70 with 940,000?

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 $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%16.4%
1 years$77,624$76,933$76,258$75,600$74,957$72,997
2 years$38,428$37,712$37,019$36,346$35,694$33,732
3 years$25,364$24,645$23,953$23,287$22,646$20,744
4 years$18,834$18,117$17,432$16,777$16,151$14,324
5 years$14,916$14,204$13,528$12,886$12,278$10,531
6 years$12,305$11,599$10,933$10,305$9,715$8,049
7 years$10,441$9,740$9,085$8,473$7,901$6,317
8 years$9,044$8,349$7,705$7,108$6,555$5,051
9 years$7,958$7,270$6,636$6,054$5,520$4,096
10 years$7,089$6,408$5,786$5,219$4,703$3,357
11 years$6,379$5,704$5,094$4,542$4,045$2,775
12 years$5,788$5,120$4,520$3,984$3,505$2,308
13 years$5,288$4,627$4,039$3,517$3,057$1,931
14 years$4,859$4,206$3,629$3,122$2,679$1,622
15 years$4,489$3,842$3,276$2,784$2,359$1,367
16 years$4,165$3,525$2,970$2,493$2,085$1,156
17 years$3,879$3,246$2,703$2,240$1,849$980
18 years$3,625$3,000$2,467$2,019$1,644$832
19 years$3,399$2,780$2,259$1,824$1,465$708
20 years$3,195$2,584$2,073$1,652$1,309$603
21 years$3,011$2,406$1,907$1,499$1,171$515
22 years$2,843$2,246$1,757$1,363$1,050$439
23 years$2,691$2,101$1,623$1,242$942$376
24 years$2,552$1,968$1,501$1,132$847$321
25 years$2,423$1,847$1,390$1,034$762$275
26 years$2,305$1,736$1,289$946$687$235
27 years$2,196$1,634$1,197$865$619$202
28 years$2,095$1,540$1,113$793$559$173
29 years$2,001$1,452$1,036$727$504$148
30 years$1,913$1,372$965$667$456$127
31 years$1,832$1,297$899$613$412$109
32 years$1,755$1,227$839$563$373$94
33 years$1,683$1,162$783$518$337$80
34 years$1,616$1,101$732$477$305$69
35 years$1,553$1,045$684$439$277$59
36 years$1,493$991$640$404$251$51
37 years$1,437$942$599$372$227$44
38 years$1,383$895$561$343$206$37
39 years$1,333$851$526$316$187$32
40 years$1,285$810$493$292$169$28
41 years$1,240$771$462$269$154$24
42 years$1,197$734$433$248$139$20
43 years$1,156$699$407$229$127$17
44 years$1,117$667$382$212$115$15
45 years$1,080$636$358$196$104$13
46 years$1,044$606$337$181$95$11
47 years$1,011$579$316$167$86$10
48 years$978$552$297$154$78$8
49 years$947$528$279$143$71$7
50 years$918$504$263$132$64$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $940,000, adding $5,145 every year, while hoping to spend $49,242 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: 55/29/16 Blend
69$940,000$940,000$940,000$940,000
70$1,041,187$991,367$976,797$1,093,769
71$1,094,995$987,551$957,127$1,126,334
72$1,152,641$981,897$935,147$1,156,044
73$1,214,465$974,265$910,728$1,187,284
74$1,280,838$964,502$883,736$1,220,213
75$1,352,170$952,449$854,028$1,255,005
76$1,428,910$937,938$821,456$1,291,858
77$1,511,550$920,788$785,866$1,330,990
78$1,600,632$900,810$747,096$1,372,644
79$1,696,749$877,802$704,977$1,417,092
80$1,800,555$851,552$659,331$1,464,635
81$1,912,768$821,834$609,975$1,515,610
82$2,034,175$788,409$556,714$1,570,390
83$2,165,645$751,025$499,348$1,629,391
84$2,308,131$709,415$437,666$1,693,075
85$2,462,679$663,296$371,447$1,761,954
86$2,630,445$612,369$300,463$1,836,599
87$2,812,694$556,319$224,472$1,917,642
88$3,010,822$494,812$143,225$2,005,786
89$3,226,362$427,495$56,460$2,101,811
90$3,461,004$353,995$0$2,206,581
91$3,716,604$273,918$0$2,327,225
92$3,995,207$186,849$0$2,469,323
93$4,299,061$92,348$0$2,624,457
94$4,630,643$0$0$2,793,986
95$4,992,679$0$0$2,982,620
96$5,388,168$0$0$3,220,957
97$5,820,414$0$0$3,481,530
98$6,293,052$0$0$3,766,540
99$6,810,086$0$0$4,078,412
100$7,375,925$0$0$4,419,818