Can I retire at age 70 with 968,000?

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 $968,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$79,937$79,225$78,530$77,852$77,190$76,479
2 years$39,573$38,836$38,121$37,429$36,757$36,041
3 years$26,120$25,379$24,667$23,981$23,320$22,621
4 years$19,395$18,657$17,951$17,277$16,632$15,955
5 years$15,360$14,627$13,931$13,270$12,643$11,991
6 years$12,672$11,944$11,258$10,612$10,004$9,377
7 years$10,752$10,031$9,356$8,725$8,136$7,534
8 years$9,313$8,598$7,934$7,319$6,750$6,173
9 years$8,195$7,486$6,834$6,234$5,684$5,132
10 years$7,300$6,599$5,958$5,374$4,843$4,316
11 years$6,569$5,874$5,245$4,677$4,165$3,663
12 years$5,960$5,273$4,655$4,102$3,610$3,131
13 years$5,445$4,765$4,159$3,622$3,148$2,692
14 years$5,004$4,331$3,737$3,215$2,759$2,326
15 years$4,622$3,957$3,374$2,867$2,429$2,019
16 years$4,289$3,630$3,059$2,567$2,147$1,758
17 years$3,994$3,343$2,783$2,307$1,904$1,535
18 years$3,733$3,089$2,541$2,079$1,693$1,344
19 years$3,500$2,863$2,326$1,878$1,509$1,180
20 years$3,290$2,660$2,135$1,701$1,348$1,037
21 years$3,100$2,478$1,964$1,544$1,206$913
22 years$2,928$2,313$1,810$1,404$1,081$805
23 years$2,771$2,164$1,671$1,278$970$711
24 years$2,628$2,027$1,545$1,166$872$629
25 years$2,496$1,902$1,431$1,065$785$556
26 years$2,374$1,788$1,327$974$707$493
27 years$2,262$1,683$1,233$891$637$436
28 years$2,157$1,586$1,146$817$575$387
29 years$2,061$1,496$1,066$749$519$343
30 years$1,970$1,413$993$687$469$305
31 years$1,886$1,335$926$631$424$271
32 years$1,807$1,264$864$580$384$241
33 years$1,734$1,197$807$533$347$214
34 years$1,664$1,134$754$491$314$190
35 years$1,599$1,076$705$452$285$169
36 years$1,537$1,021$659$416$258$150
37 years$1,479$970$617$383$234$134
38 years$1,425$922$578$353$212$119
39 years$1,373$876$541$326$192$106
40 years$1,323$834$507$301$174$94
41 years$1,277$794$476$277$158$84
42 years$1,232$756$446$256$144$75
43 years$1,190$720$419$236$130$67
44 years$1,150$686$393$218$118$59
45 years$1,112$655$369$201$107$53
46 years$1,075$624$347$186$97$47
47 years$1,041$596$326$172$89$42
48 years$1,007$569$306$159$80$37
49 years$976$543$288$147$73$33
50 years$945$519$270$136$66$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $968,000, adding $6,712 every year, while hoping to spend $55,155 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: 24/48/28 Blend
69$968,000$968,000$968,000$968,000
70$1,073,659$1,022,355$1,007,351$1,089,848
71$1,124,488$1,013,766$982,413$1,095,514
72$1,178,653$1,002,908$954,791$1,096,485
73$1,236,436$989,610$924,337$1,096,369
74$1,298,145$973,695$890,895$1,095,111
75$1,364,121$954,970$854,305$1,092,660
76$1,434,733$933,236$814,396$1,088,963
77$1,510,389$908,277$770,991$1,083,969
78$1,591,535$879,869$723,906$1,077,629
79$1,678,661$847,773$672,946$1,069,896
80$1,772,305$811,734$617,911$1,060,726
81$1,873,057$771,486$558,587$1,050,080
82$1,981,565$726,745$494,756$1,037,924
83$2,098,541$677,211$426,187$1,024,227
84$2,224,766$622,569$352,638$1,008,968
85$2,361,099$562,482$273,859$992,132
86$2,508,485$496,597$189,587$973,715
87$2,667,961$424,541$99,548$953,725
88$2,840,667$345,917$3,457$932,181
89$3,027,857$260,309$0$909,119
90$3,230,910$167,276$0$914,195
91$3,451,342$66,351$0$920,904
92$3,690,820$0$0$928,406
93$3,951,180$0$0$959,611
94$4,234,439$0$0$1,031,838
95$4,542,819$0$0$1,110,623
96$4,878,761$0$0$1,196,611
97$5,244,956$0$0$1,290,510
98$5,644,363$0$0$1,393,100
99$6,080,238$0$0$1,505,239
100$6,556,167$0$0$1,627,873