Can I retire at age 70 with 947,000?

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 $947,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14%
1 years$78,202$77,506$76,826$76,163$75,515$74,264
2 years$38,714$37,993$37,294$36,617$35,960$34,703
3 years$25,553$24,829$24,132$23,461$22,814$21,591
4 years$18,974$18,252$17,562$16,902$16,271$15,091
5 years$15,027$14,310$13,629$12,982$12,369$11,235
6 years$12,397$11,685$11,014$10,382$9,787$8,701
7 years$10,519$9,813$9,153$8,536$7,960$6,921
8 years$9,111$8,412$7,762$7,160$6,603$5,612
9 years$8,017$7,324$6,686$6,099$5,561$4,617
10 years$7,142$6,456$5,829$5,257$4,738$3,840
11 years$6,427$5,747$5,131$4,576$4,075$3,223
12 years$5,831$5,158$4,554$4,013$3,531$2,723
13 years$5,327$4,661$4,069$3,543$3,079$2,314
14 years$4,896$4,237$3,656$3,145$2,699$1,976
15 years$4,522$3,871$3,301$2,805$2,377$1,694
16 years$4,196$3,551$2,993$2,512$2,101$1,457
17 years$3,908$3,271$2,723$2,257$1,863$1,256
18 years$3,652$3,022$2,486$2,034$1,656$1,086
19 years$3,424$2,801$2,276$1,838$1,476$940
20 years$3,219$2,603$2,088$1,664$1,318$816
21 years$3,033$2,424$1,921$1,510$1,180$709
22 years$2,865$2,263$1,771$1,373$1,058$617
23 years$2,711$2,117$1,635$1,251$949$537
24 years$2,571$1,983$1,512$1,141$853$468
25 years$2,442$1,861$1,400$1,042$768$408
26 years$2,323$1,749$1,299$953$692$356
27 years$2,213$1,646$1,206$872$624$311
28 years$2,111$1,551$1,121$799$563$272
29 years$2,016$1,463$1,043$733$508$238
30 years$1,928$1,382$972$672$459$208
31 years$1,845$1,306$906$617$415$182
32 years$1,768$1,236$845$567$375$159
33 years$1,696$1,171$789$522$340$140
34 years$1,628$1,109$737$480$308$122
35 years$1,564$1,052$689$442$279$107
36 years$1,504$999$645$407$252$94
37 years$1,447$949$604$375$229$82
38 years$1,394$902$565$346$207$72
39 years$1,343$857$530$319$188$63
40 years$1,295$816$496$294$171$55
41 years$1,249$776$465$271$155$49
42 years$1,206$739$437$250$140$43
43 years$1,164$705$410$231$127$37
44 years$1,125$672$385$213$116$33
45 years$1,088$640$361$197$105$29
46 years$1,052$611$339$182$95$25
47 years$1,018$583$319$168$87$22
48 years$985$557$299$155$79$19
49 years$954$531$281$144$71$17
50 years$925$508$265$133$65$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $947,000, adding $3,129 every year, while hoping to spend $43,530 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: 67/6/27 Blend
69$947,000$947,000$947,000$947,000
70$1,046,822$996,631$981,952$1,109,388
71$1,107,282$999,150$968,532$1,154,421
72$1,172,450$1,000,334$953,203$1,198,452
73$1,242,760$1,000,071$935,856$1,245,629
74$1,318,690$998,242$916,376$1,296,264
75$1,400,764$994,723$894,641$1,350,705
76$1,489,557$989,380$870,527$1,409,332
77$1,585,704$982,072$843,902$1,472,568
78$1,689,900$972,648$814,627$1,540,879
79$1,802,912$960,949$782,558$1,614,781
80$1,925,581$946,808$747,546$1,694,842
81$2,058,833$930,044$709,432$1,781,692
82$2,203,688$910,470$668,052$1,876,025
83$2,361,266$887,885$623,234$1,978,608
84$2,532,800$862,077$574,797$2,090,289
85$2,719,647$832,820$522,554$2,212,001
86$2,923,300$799,878$466,309$2,344,779
87$3,145,403$762,998$405,857$2,489,763
88$3,387,764$721,915$340,983$2,648,212
89$3,652,375$676,347$271,464$2,821,516
90$3,941,425$625,996$197,066$3,011,209
91$4,257,329$570,548$117,547$3,218,985
92$4,602,742$509,671$32,650$3,446,714
93$4,980,589$443,012$0$3,696,458
94$5,394,090$370,200$0$3,987,190
95$5,846,791$290,844$0$4,315,851
96$6,342,596$204,528$0$4,675,881
97$6,885,806$110,814$0$5,070,426
98$7,481,155$9,241$0$5,502,954
99$8,133,859$0$0$5,977,283
100$8,849,662$0$0$6,504,269