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%11%
1 years$79,937$79,225$78,530$77,852$77,190$76,864
2 years$39,573$38,836$38,121$37,429$36,757$36,429
3 years$26,120$25,379$24,667$23,981$23,320$22,999
4 years$19,395$18,657$17,951$17,277$16,632$16,320
5 years$15,360$14,627$13,931$13,270$12,643$12,342
6 years$12,672$11,944$11,258$10,612$10,004$9,714
7 years$10,752$10,031$9,356$8,725$8,136$7,857
8 years$9,313$8,598$7,934$7,319$6,750$6,481
9 years$8,195$7,486$6,834$6,234$5,684$5,427
10 years$7,300$6,599$5,958$5,374$4,843$4,597
11 years$6,569$5,874$5,245$4,677$4,165$3,929
12 years$5,960$5,273$4,655$4,102$3,610$3,384
13 years$5,445$4,765$4,159$3,622$3,148$2,932
14 years$5,004$4,331$3,737$3,215$2,759$2,554
15 years$4,622$3,957$3,374$2,867$2,429$2,234
16 years$4,289$3,630$3,059$2,567$2,147$1,961
17 years$3,994$3,343$2,783$2,307$1,904$1,727
18 years$3,733$3,089$2,541$2,079$1,693$1,525
19 years$3,500$2,863$2,326$1,878$1,509$1,350
20 years$3,290$2,660$2,135$1,701$1,348$1,197
21 years$3,100$2,478$1,964$1,544$1,206$1,064
22 years$2,928$2,313$1,810$1,404$1,081$946
23 years$2,771$2,164$1,671$1,278$970$843
24 years$2,628$2,027$1,545$1,166$872$752
25 years$2,496$1,902$1,431$1,065$785$672
26 years$2,374$1,788$1,327$974$707$601
27 years$2,262$1,683$1,233$891$637$537
28 years$2,157$1,586$1,146$817$575$481
29 years$2,061$1,496$1,066$749$519$431
30 years$1,970$1,413$993$687$469$386
31 years$1,886$1,335$926$631$424$346
32 years$1,807$1,264$864$580$384$311
33 years$1,734$1,197$807$533$347$279
34 years$1,664$1,134$754$491$314$251
35 years$1,599$1,076$705$452$285$225
36 years$1,537$1,021$659$416$258$202
37 years$1,479$970$617$383$234$182
38 years$1,425$922$578$353$212$163
39 years$1,373$876$541$326$192$147
40 years$1,323$834$507$301$174$132
41 years$1,277$794$476$277$158$119
42 years$1,232$756$446$256$144$107
43 years$1,190$720$419$236$130$96
44 years$1,150$686$393$218$118$87
45 years$1,112$655$369$201$107$78
46 years$1,075$624$347$186$97$70
47 years$1,041$596$326$172$89$63
48 years$1,007$569$306$159$80$57
49 years$976$543$288$147$73$51
50 years$945$519$270$136$66$46

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $968,000, adding $4,097 every year, while hoping to spend $57,496 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: 59/31/10 Blend
69$968,000$968,000$968,000$968,000
70$1,070,962$1,019,658$1,004,654$1,131,399
71$1,119,025$1,008,446$977,135$1,161,307
72$1,170,063$994,758$946,766$1,187,053
73$1,224,319$978,411$913,393$1,213,720
74$1,282,060$959,212$876,851$1,241,404
75$1,343,574$936,958$836,970$1,270,207
76$1,409,182$911,433$793,572$1,300,250
77$1,479,232$882,406$746,470$1,331,665
78$1,554,105$849,635$695,468$1,364,601
79$1,634,221$812,865$640,364$1,399,227
80$1,720,040$771,823$580,944$1,435,731
81$1,812,064$726,223$516,986$1,474,326
82$1,910,847$675,760$448,257$1,515,246
83$2,016,996$620,115$374,516$1,558,759
84$2,131,176$558,947$295,509$1,605,160
85$2,254,118$491,897$210,971$1,654,780
86$2,386,625$418,588$120,626$1,707,992
87$2,529,580$338,618$24,186$1,765,207
88$2,683,951$251,564$0$1,826,888
89$2,850,803$156,979$0$1,901,950
90$3,031,307$54,393$0$1,985,867
91$3,226,748$0$0$2,076,728
92$3,438,540$0$0$2,194,624
93$3,668,239$0$0$2,342,677
94$3,917,556$0$0$2,503,443
95$4,188,370$0$0$2,678,145
96$4,482,750$0$0$2,868,127
97$4,802,973$0$0$3,074,865
98$5,151,543$0$0$3,299,989
99$5,531,214$0$0$3,545,286
100$5,945,020$0$0$3,812,728