Can I retire at age 70 with 968,000?

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 $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%19.8%
1 years$79,937$79,225$78,530$77,852$77,190$74,156
2 years$39,573$38,836$38,121$37,429$36,757$33,738
3 years$26,120$25,379$24,667$23,981$23,320$20,411
4 years$19,395$18,657$17,951$17,277$16,632$13,854
5 years$15,360$14,627$13,931$13,270$12,643$10,004
6 years$12,672$11,944$11,258$10,612$10,004$7,506
7 years$10,752$10,031$9,356$8,725$8,136$5,777
8 years$9,313$8,598$7,934$7,319$6,750$4,528
9 years$8,195$7,486$6,834$6,234$5,684$3,596
10 years$7,300$6,599$5,958$5,374$4,843$2,885
11 years$6,569$5,874$5,245$4,677$4,165$2,332
12 years$5,960$5,273$4,655$4,102$3,610$1,897
13 years$5,445$4,765$4,159$3,622$3,148$1,551
14 years$5,004$4,331$3,737$3,215$2,759$1,272
15 years$4,622$3,957$3,374$2,867$2,429$1,047
16 years$4,289$3,630$3,059$2,567$2,147$864
17 years$3,994$3,343$2,783$2,307$1,904$714
18 years$3,733$3,089$2,541$2,079$1,693$591
19 years$3,500$2,863$2,326$1,878$1,509$490
20 years$3,290$2,660$2,135$1,701$1,348$407
21 years$3,100$2,478$1,964$1,544$1,206$338
22 years$2,928$2,313$1,810$1,404$1,081$281
23 years$2,771$2,164$1,671$1,278$970$234
24 years$2,628$2,027$1,545$1,166$872$195
25 years$2,496$1,902$1,431$1,065$785$162
26 years$2,374$1,788$1,327$974$707$135
27 years$2,262$1,683$1,233$891$637$113
28 years$2,157$1,586$1,146$817$575$94
29 years$2,061$1,496$1,066$749$519$78
30 years$1,970$1,413$993$687$469$65
31 years$1,886$1,335$926$631$424$54
32 years$1,807$1,264$864$580$384$45
33 years$1,734$1,197$807$533$347$38
34 years$1,664$1,134$754$491$314$32
35 years$1,599$1,076$705$452$285$26
36 years$1,537$1,021$659$416$258$22
37 years$1,479$970$617$383$234$18
38 years$1,425$922$578$353$212$15
39 years$1,373$876$541$326$192$13
40 years$1,323$834$507$301$174$11
41 years$1,277$794$476$277$158$9
42 years$1,232$756$446$256$144$7
43 years$1,190$720$419$236$130$6
44 years$1,150$686$393$218$118$5
45 years$1,112$655$369$201$107$4
46 years$1,075$624$347$186$97$4
47 years$1,041$596$326$172$89$3
48 years$1,007$569$306$159$80$3
49 years$976$543$288$147$73$2
50 years$945$519$270$136$66$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $968,000, adding $6,794 every year, while hoping to spend $39,164 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: 68/8/24 Blend
69$968,000$968,000$968,000$968,000
70$1,073,744$1,022,440$1,007,436$1,139,739
71$1,141,596$1,030,869$999,515$1,193,285
72$1,215,056$1,038,399$990,016$1,246,715
73$1,294,655$1,044,944$978,845$1,304,252
74$1,380,976$1,050,413$965,903$1,366,300
75$1,474,662$1,054,709$951,086$1,433,307
76$1,576,417$1,057,730$934,288$1,505,766
77$1,687,019$1,059,366$915,394$1,584,222
78$1,807,321$1,059,501$894,286$1,669,276
79$1,938,263$1,058,012$870,839$1,761,591
80$2,080,879$1,054,768$844,926$1,861,899
81$2,236,306$1,049,629$816,408$1,971,006
82$2,405,798$1,042,449$785,146$2,089,805
83$2,590,731$1,033,070$750,990$2,219,277
84$2,792,622$1,021,328$713,785$2,360,508
85$3,013,143$1,007,046$673,370$2,514,694
86$3,254,130$990,038$629,574$2,683,154
87$3,517,607$970,106$582,222$2,867,346
88$3,805,804$947,041$531,126$3,068,874
89$4,121,172$920,623$476,096$3,289,513
90$4,466,414$890,616$416,927$3,531,216
91$4,844,505$856,772$353,411$3,796,139
92$5,258,720$818,830$285,326$4,086,662
93$5,712,667$776,511$212,442$4,405,407
94$6,210,320$729,521$134,520$4,755,269
95$6,756,055$677,549$51,309$5,139,437
96$7,354,692$620,269$0$5,561,433
97$8,011,540$557,331$0$6,034,738
98$8,732,446$488,369$0$6,568,679
99$9,523,852$412,996$0$7,154,896
100$10,392,853$330,801$0$7,798,672