Can I retire at age 70 with 962,000?

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 $962,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$79,441$78,733$78,043$77,369$76,711$76,356
2 years$39,327$38,595$37,885$37,197$36,529$36,170
3 years$25,958$25,222$24,514$23,832$23,176$22,825
4 years$19,274$18,541$17,840$17,170$16,529$16,189
5 years$15,265$14,536$13,845$13,188$12,565$12,236
6 years$12,593$11,870$11,188$10,547$9,942$9,625
7 years$10,686$9,968$9,298$8,671$8,086$7,781
8 years$9,256$8,545$7,885$7,274$6,708$6,415
9 years$8,144$7,440$6,791$6,196$5,649$5,368
10 years$7,255$6,558$5,921$5,341$4,813$4,544
11 years$6,528$5,838$5,213$4,648$4,140$3,882
12 years$5,923$5,240$4,626$4,077$3,587$3,341
13 years$5,411$4,735$4,133$3,599$3,128$2,894
14 years$4,973$4,304$3,714$3,195$2,742$2,519
15 years$4,594$3,932$3,353$2,849$2,414$2,202
16 years$4,262$3,608$3,040$2,551$2,134$1,932
17 years$3,970$3,322$2,766$2,292$1,892$1,700
18 years$3,710$3,070$2,525$2,066$1,682$1,500
19 years$3,478$2,845$2,312$1,867$1,499$1,327
20 years$3,270$2,644$2,122$1,691$1,339$1,176
21 years$3,081$2,463$1,951$1,534$1,199$1,044
22 years$2,910$2,299$1,799$1,395$1,074$928
23 years$2,754$2,150$1,661$1,271$964$826
24 years$2,611$2,015$1,536$1,159$867$737
25 years$2,480$1,891$1,422$1,058$780$657
26 years$2,359$1,777$1,319$968$703$587
27 years$2,248$1,672$1,225$886$633$525
28 years$2,144$1,576$1,139$812$572$469
29 years$2,048$1,486$1,060$744$516$420
30 years$1,958$1,404$987$683$466$376
31 years$1,875$1,327$920$627$422$337
32 years$1,796$1,256$859$576$381$302
33 years$1,723$1,189$802$530$345$271
34 years$1,654$1,127$749$488$312$243
35 years$1,589$1,069$700$449$283$218
36 years$1,528$1,015$655$414$256$196
37 years$1,470$964$613$381$232$176
38 years$1,416$916$574$351$211$158
39 years$1,364$871$538$324$191$142
40 years$1,315$829$504$299$173$128
41 years$1,269$789$473$276$157$115
42 years$1,225$751$444$254$143$103
43 years$1,183$716$416$235$129$93
44 years$1,143$682$391$217$118$83
45 years$1,105$651$367$200$107$75
46 years$1,069$621$345$185$97$67
47 years$1,034$592$324$171$88$61
48 years$1,001$565$304$158$80$55
49 years$969$540$286$146$73$49
50 years$939$516$269$135$66$44

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $962,000, adding $3,259 every year, while hoping to spend $45,394 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: 67/17/16 Blend
69$962,000$962,000$962,000$962,000
70$1,063,486$1,012,500$997,589$1,130,459
71$1,123,662$1,013,813$982,709$1,176,901
72$1,188,456$1,013,670$965,809$1,222,045
73$1,258,288$1,011,950$946,774$1,270,280
74$1,333,625$1,008,527$925,483$1,321,906
75$1,414,977$1,003,267$901,809$1,377,255
76$1,502,904$996,026$875,619$1,436,695
77$1,598,023$986,655$846,775$1,500,630
78$1,701,012$974,991$815,132$1,569,508
79$1,812,615$960,866$780,539$1,643,825
80$1,933,652$944,098$742,837$1,724,127
81$2,065,024$924,498$701,861$1,811,018
82$2,207,720$901,862$657,438$1,905,164
83$2,362,832$875,978$609,386$2,007,303
84$2,531,558$846,618$557,517$2,118,248
85$2,715,216$813,542$501,634$2,238,898
86$2,915,260$776,497$441,530$2,370,246
87$3,133,285$735,214$376,990$2,513,387
88$3,371,050$689,409$307,789$2,669,532
89$3,630,489$638,782$233,692$2,840,017
90$3,913,732$583,016$154,454$3,026,317
91$4,223,124$521,774$69,819$3,230,061
92$4,561,244$454,703$0$3,453,048
93$4,930,934$381,427$0$3,700,763
94$5,335,323$301,550$0$3,984,844
95$5,777,855$214,655$0$4,295,828
96$6,262,322$120,299$0$4,636,436
97$6,792,901$18,016$0$5,009,669
98$7,374,192$0$0$5,418,834
99$8,011,260$0$0$5,884,916
100$8,709,682$0$0$6,399,641