Can I retire at age 70 with 950,000?

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 $950,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$78,450$77,751$77,070$76,404$75,754$74,346
2 years$38,837$38,113$37,412$36,733$36,073$34,660
3 years$25,634$24,908$24,208$23,535$22,887$21,512
4 years$19,034$18,310$17,617$16,956$16,323$14,998
5 years$15,075$14,355$13,672$13,024$12,408$11,136
6 years$12,436$11,722$11,049$10,415$9,818$8,601
7 years$10,552$9,844$9,182$8,563$7,985$6,822
8 years$9,140$8,438$7,787$7,183$6,624$5,516
9 years$8,042$7,347$6,707$6,118$5,579$4,525
10 years$7,165$6,476$5,847$5,274$4,753$3,752
11 years$6,447$5,765$5,148$4,590$4,088$3,139
12 years$5,849$5,175$4,568$4,026$3,543$2,644
13 years$5,344$4,676$4,082$3,554$3,089$2,239
14 years$4,911$4,251$3,667$3,155$2,708$1,906
15 years$4,536$3,883$3,311$2,814$2,384$1,628
16 years$4,209$3,563$3,002$2,520$2,107$1,395
17 years$3,920$3,281$2,732$2,264$1,868$1,199
18 years$3,664$3,032$2,494$2,040$1,661$1,032
19 years$3,435$2,810$2,283$1,843$1,481$891
20 years$3,229$2,611$2,095$1,670$1,323$770
21 years$3,043$2,432$1,927$1,515$1,184$666
22 years$2,874$2,270$1,776$1,378$1,061$578
23 years$2,720$2,123$1,640$1,255$952$501
24 years$2,579$1,989$1,517$1,144$856$435
25 years$2,449$1,867$1,405$1,045$770$378
26 years$2,330$1,755$1,303$956$694$329
27 years$2,220$1,651$1,210$875$626$286
28 years$2,117$1,556$1,125$801$564$249
29 years$2,022$1,468$1,047$735$510$217
30 years$1,934$1,386$975$674$461$189
31 years$1,851$1,311$909$619$416$165
32 years$1,774$1,240$848$569$377$143
33 years$1,701$1,174$792$523$341$125
34 years$1,633$1,113$740$482$309$109
35 years$1,569$1,056$692$443$280$95
36 years$1,509$1,002$647$408$253$83
37 years$1,452$952$606$376$230$72
38 years$1,398$904$567$347$208$63
39 years$1,347$860$531$320$189$55
40 years$1,299$818$498$295$171$48
41 years$1,253$779$467$272$155$42
42 years$1,209$742$438$251$141$37
43 years$1,168$707$411$232$128$32
44 years$1,129$674$386$214$116$28
45 years$1,091$642$362$198$105$24
46 years$1,055$613$340$183$96$21
47 years$1,021$585$320$169$87$19
48 years$989$558$300$156$79$16
49 years$957$533$282$144$72$14
50 years$928$509$265$133$65$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $950,000, adding $3,209 every year, while hoping to spend $20,137 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: 62/14/24 Blend
69$950,000$950,000$950,000$950,000
70$1,050,210$999,860$985,135$1,108,479
71$1,135,906$1,027,428$996,711$1,175,883
72$1,229,668$1,055,671$1,008,001$1,246,946
73$1,332,297$1,084,602$1,018,972$1,324,091
74$1,444,677$1,114,233$1,029,593$1,407,915
75$1,567,778$1,144,575$1,039,829$1,499,076
76$1,702,672$1,175,640$1,049,644$1,598,297
77$1,850,537$1,207,438$1,058,999$1,706,376
78$2,012,671$1,239,982$1,067,855$1,824,192
79$2,190,505$1,273,282$1,076,169$1,952,713
80$2,385,612$1,307,349$1,083,896$2,093,006
81$2,599,728$1,342,193$1,090,991$2,246,245
82$2,834,764$1,377,823$1,097,402$2,413,725
83$3,092,823$1,414,251$1,103,079$2,596,874
84$3,376,226$1,451,484$1,107,967$2,797,264
85$3,687,526$1,489,531$1,112,009$3,016,625
86$4,029,537$1,528,401$1,115,144$3,256,868
87$4,405,358$1,568,101$1,117,310$3,520,095
88$4,818,404$1,608,638$1,118,439$3,808,625
89$5,272,437$1,650,017$1,118,463$4,125,011
90$5,771,603$1,692,245$1,117,308$4,472,068
91$6,320,466$1,735,325$1,114,898$4,852,898
92$6,924,059$1,779,261$1,111,153$5,270,918
93$7,587,924$1,824,056$1,105,987$5,729,895
94$8,318,168$1,869,710$1,099,313$6,233,981
95$9,121,519$1,916,224$1,091,038$6,787,748
96$10,005,391$1,963,596$1,081,065$7,396,240
97$10,977,953$2,011,824$1,069,293$8,065,010
98$12,048,205$2,060,904$1,055,614$8,800,182
99$13,226,062$2,110,829$1,039,919$9,608,502
100$14,522,454$2,161,593$1,022,089$10,497,407