Can I retire at age 70 with 971,000?

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 $971,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$80,184$79,470$78,773$78,093$77,429$76,941
2 years$39,695$38,956$38,239$37,545$36,871$36,379
3 years$26,201$25,458$24,743$24,055$23,392$22,911
4 years$19,455$18,714$18,007$17,330$16,684$16,217
5 years$15,408$14,672$13,974$13,311$12,683$12,232
6 years$12,711$11,981$11,293$10,645$10,035$9,602
7 years$10,786$10,062$9,385$8,752$8,161$7,744
8 years$9,342$8,625$7,959$7,342$6,771$6,371
9 years$8,220$7,509$6,855$6,254$5,702$5,319
10 years$7,323$6,619$5,976$5,391$4,858$4,492
11 years$6,589$5,893$5,261$4,692$4,178$3,828
12 years$5,979$5,289$4,669$4,115$3,621$3,286
13 years$5,462$4,780$4,172$3,633$3,157$2,839
14 years$5,020$4,345$3,748$3,225$2,768$2,464
15 years$4,637$3,969$3,384$2,876$2,437$2,149
16 years$4,302$3,641$3,068$2,575$2,154$1,880
17 years$4,007$3,354$2,792$2,314$1,910$1,650
18 years$3,745$3,099$2,549$2,085$1,698$1,452
19 years$3,511$2,872$2,333$1,884$1,513$1,280
20 years$3,300$2,669$2,141$1,707$1,352$1,131
21 years$3,110$2,486$1,970$1,549$1,210$1,002
22 years$2,937$2,320$1,815$1,408$1,084$888
23 years$2,780$2,170$1,676$1,282$973$788
24 years$2,636$2,033$1,550$1,170$875$700
25 years$2,503$1,908$1,436$1,068$787$623
26 years$2,381$1,793$1,332$977$709$555
27 years$2,269$1,688$1,237$894$639$494
28 years$2,164$1,590$1,150$819$577$441
29 years$2,067$1,500$1,070$751$521$393
30 years$1,977$1,417$996$689$471$351
31 years$1,892$1,339$929$633$426$314
32 years$1,813$1,267$867$582$385$280
33 years$1,739$1,200$809$535$348$251
34 years$1,669$1,138$756$492$315$224
35 years$1,604$1,079$707$453$286$200
36 years$1,542$1,024$661$417$259$179
37 years$1,484$973$619$385$235$161
38 years$1,429$924$580$354$213$144
39 years$1,377$879$543$327$193$129
40 years$1,328$836$509$301$175$115
41 years$1,281$796$477$278$159$103
42 years$1,236$758$448$257$144$92
43 years$1,194$722$420$237$131$83
44 years$1,154$689$394$219$119$74
45 years$1,115$657$370$202$108$66
46 years$1,079$626$348$187$98$60
47 years$1,044$598$327$172$89$53
48 years$1,010$571$307$159$81$48
49 years$979$545$289$147$73$43
50 years$948$521$271$136$67$38

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $971,000, adding $3,930 every year, while hoping to spend $47,276 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: 32/49/19 Blend
69$971,000$971,000$971,000$971,000
70$1,074,096$1,022,633$1,007,582$1,102,011
71$1,133,352$1,022,441$991,035$1,122,984
72$1,197,068$1,020,654$972,349$1,140,966
73$1,265,649$1,017,146$951,402$1,159,337
74$1,339,539$1,011,780$928,068$1,178,159
75$1,419,227$1,004,412$902,214$1,197,506
76$1,505,250$994,890$873,699$1,217,460
77$1,598,196$983,050$842,379$1,238,117
78$1,698,714$968,722$808,101$1,259,588
79$1,807,517$951,723$770,706$1,282,000
80$1,925,386$931,861$730,027$1,305,496
81$2,053,184$908,930$685,891$1,330,241
82$2,191,857$882,715$638,117$1,356,423
83$2,342,445$852,987$586,512$1,384,253
84$2,506,095$819,504$530,881$1,413,972
85$2,684,065$782,008$471,014$1,445,852
86$2,877,742$740,229$406,696$1,480,200
87$3,088,652$693,880$337,700$1,517,362
88$3,318,471$642,657$263,790$1,557,727
89$3,569,048$586,240$184,719$1,601,734
90$3,842,414$524,290$100,231$1,649,875
91$4,140,808$456,447$10,056$1,702,701
92$4,466,691$382,334$0$1,760,833
93$4,822,776$301,550$0$1,842,433
94$5,212,046$213,673$0$1,934,117
95$5,637,788$118,256$0$2,034,774
96$6,103,620$14,829$0$2,145,438
97$6,613,527$0$0$2,267,257
98$7,171,895$0$0$2,453,867
99$7,783,557$0$0$2,667,193
100$8,453,832$0$0$2,901,114