Can I retire at age 70 with 947,000?

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 $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%16.6%
1 years$78,202$77,506$76,826$76,163$75,515$73,481
2 years$38,714$37,993$37,294$36,617$35,960$33,925
3 years$25,553$24,829$24,132$23,461$22,814$20,842
4 years$18,974$18,252$17,562$16,902$16,271$14,378
5 years$15,027$14,310$13,629$12,982$12,369$10,559
6 years$12,397$11,685$11,014$10,382$9,787$8,062
7 years$10,519$9,813$9,153$8,536$7,960$6,320
8 years$9,111$8,412$7,762$7,160$6,603$5,048
9 years$8,017$7,324$6,686$6,099$5,561$4,088
10 years$7,142$6,456$5,829$5,257$4,738$3,346
11 years$6,427$5,747$5,131$4,576$4,075$2,762
12 years$5,831$5,158$4,554$4,013$3,531$2,295
13 years$5,327$4,661$4,069$3,543$3,079$1,917
14 years$4,896$4,237$3,656$3,145$2,699$1,608
15 years$4,522$3,871$3,301$2,805$2,377$1,354
16 years$4,196$3,551$2,993$2,512$2,101$1,143
17 years$3,908$3,271$2,723$2,257$1,863$967
18 years$3,652$3,022$2,486$2,034$1,656$820
19 years$3,424$2,801$2,276$1,838$1,476$697
20 years$3,219$2,603$2,088$1,664$1,318$593
21 years$3,033$2,424$1,921$1,510$1,180$505
22 years$2,865$2,263$1,771$1,373$1,058$431
23 years$2,711$2,117$1,635$1,251$949$367
24 years$2,571$1,983$1,512$1,141$853$314
25 years$2,442$1,861$1,400$1,042$768$268
26 years$2,323$1,749$1,299$953$692$229
27 years$2,213$1,646$1,206$872$624$196
28 years$2,111$1,551$1,121$799$563$168
29 years$2,016$1,463$1,043$733$508$144
30 years$1,928$1,382$972$672$459$123
31 years$1,845$1,306$906$617$415$105
32 years$1,768$1,236$845$567$375$90
33 years$1,696$1,171$789$522$340$77
34 years$1,628$1,109$737$480$308$66
35 years$1,564$1,052$689$442$279$57
36 years$1,504$999$645$407$252$49
37 years$1,447$949$604$375$229$42
38 years$1,394$902$565$346$207$36
39 years$1,343$857$530$319$188$31
40 years$1,295$816$496$294$171$26
41 years$1,249$776$465$271$155$23
42 years$1,206$739$437$250$140$19
43 years$1,164$705$410$231$127$17
44 years$1,125$672$385$213$116$14
45 years$1,088$640$361$197$105$12
46 years$1,052$611$339$182$95$10
47 years$1,018$583$319$168$87$9
48 years$985$557$299$155$79$8
49 years$954$531$281$144$71$7
50 years$925$508$265$133$65$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $947,000, adding $6,257 every year, while hoping to spend $32,806 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: 53/25/22 Blend
69$947,000$947,000$947,000$947,000
70$1,050,048$999,857$985,179$1,099,028
71$1,122,248$1,013,945$983,277$1,147,506
72$1,200,712$1,027,623$980,212$1,196,306
73$1,286,046$1,040,838$975,910$1,248,717
74$1,378,914$1,053,530$970,294$1,305,095
75$1,480,047$1,065,637$963,283$1,365,833
76$1,590,252$1,077,093$954,793$1,431,364
77$1,710,413$1,087,826$944,734$1,502,168
78$1,841,506$1,097,761$933,014$1,578,773
79$1,984,605$1,106,817$919,535$1,661,762
80$2,140,891$1,114,907$904,195$1,751,780
81$2,311,664$1,121,940$886,889$1,849,538
82$2,498,357$1,127,818$867,503$1,955,822
83$2,702,546$1,132,438$845,920$2,071,499
84$2,925,967$1,135,688$822,020$2,197,526
85$3,170,532$1,137,453$795,674$2,334,960
86$3,438,345$1,137,607$766,747$2,484,968
87$3,731,724$1,136,017$735,101$2,648,835
88$4,053,221$1,132,544$700,589$2,827,984
89$4,405,648$1,127,037$663,057$3,023,982
90$4,792,102$1,119,339$622,347$3,238,561
91$5,215,992$1,109,282$578,291$3,473,629
92$5,681,073$1,096,688$530,714$3,731,296
93$6,191,485$1,081,367$479,435$4,013,885
94$6,751,783$1,063,121$424,263$4,323,963
95$7,366,987$1,041,737$364,998$4,664,361
96$8,042,628$1,016,990$301,434$5,038,204
97$8,784,797$988,643$233,353$5,448,938
98$9,600,204$956,445$160,528$5,900,364
99$10,496,243$920,128$82,723$6,396,677
100$11,481,057$879,412$0$6,942,504