Can I retire at age 70 with 977,000?

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 $977,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$80,680$79,961$79,260$78,576$77,907$76,998
2 years$39,940$39,197$38,476$37,777$37,099$36,183
3 years$26,362$25,615$24,896$24,204$23,537$22,644
4 years$19,575$18,830$18,118$17,438$16,787$15,923
5 years$15,503$14,763$14,060$13,394$12,761$11,929
6 years$12,790$12,055$11,363$10,711$10,097$9,298
7 years$10,852$10,124$9,443$8,806$8,212$7,446
8 years$9,400$8,678$8,008$7,387$6,813$6,080
9 years$8,271$7,556$6,897$6,292$5,737$5,037
10 years$7,368$6,660$6,013$5,424$4,888$4,221
11 years$6,630$5,929$5,294$4,721$4,204$3,569
12 years$6,015$5,322$4,698$4,141$3,643$3,039
13 years$5,496$4,809$4,198$3,655$3,177$2,603
14 years$5,051$4,371$3,772$3,245$2,785$2,240
15 years$4,665$3,993$3,405$2,894$2,452$1,936
16 years$4,328$3,664$3,087$2,591$2,167$1,679
17 years$4,032$3,374$2,809$2,328$1,922$1,460
18 years$3,768$3,118$2,565$2,098$1,709$1,273
19 years$3,532$2,890$2,348$1,896$1,523$1,112
20 years$3,321$2,685$2,155$1,717$1,360$974
21 years$3,129$2,501$1,982$1,558$1,217$854
22 years$2,955$2,335$1,827$1,417$1,091$749
23 years$2,797$2,184$1,687$1,290$979$659
24 years$2,652$2,046$1,560$1,177$880$580
25 years$2,519$1,920$1,445$1,075$792$510
26 years$2,396$1,805$1,340$983$714$450
27 years$2,283$1,698$1,244$900$643$397
28 years$2,178$1,600$1,157$824$580$350
29 years$2,080$1,510$1,076$756$524$309
30 years$1,989$1,426$1,003$694$474$273
31 years$1,904$1,348$935$637$428$241
32 years$1,824$1,275$872$585$387$213
33 years$1,750$1,208$814$538$351$189
34 years$1,680$1,145$761$495$317$167
35 years$1,614$1,086$711$456$287$148
36 years$1,552$1,030$665$420$260$131
37 years$1,493$979$623$387$236$116
38 years$1,438$930$583$357$214$102
39 years$1,385$884$546$329$194$91
40 years$1,336$841$512$303$176$80
41 years$1,289$801$480$280$160$71
42 years$1,244$763$450$258$145$63
43 years$1,201$727$423$238$132$56
44 years$1,161$693$397$220$119$49
45 years$1,122$661$373$203$108$44
46 years$1,085$630$350$188$98$39
47 years$1,050$601$329$173$89$34
48 years$1,017$574$309$160$81$30
49 years$985$548$290$148$74$27
50 years$954$524$273$137$67$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $977,000, adding $3,319 every year, while hoping to spend $32,062 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: 62/9/29 Blend
69$977,000$977,000$977,000$977,000
70$1,080,078$1,028,297$1,013,153$1,138,426
71$1,156,132$1,044,569$1,012,980$1,194,778
72$1,238,869$1,060,565$1,011,726$1,252,525
73$1,328,937$1,076,236$1,009,323$1,314,907
74$1,427,048$1,091,531$1,005,695$1,382,386
75$1,533,988$1,106,397$1,000,766$1,455,469
76$1,650,619$1,120,774$994,456$1,534,716
77$1,777,891$1,134,602$986,679$1,620,745
78$1,916,851$1,147,812$977,348$1,714,239
79$2,068,649$1,160,334$966,369$1,815,949
80$2,234,554$1,172,093$953,645$1,926,704
81$2,415,960$1,183,008$939,074$2,047,422
82$2,614,405$1,192,992$922,549$2,179,110
83$2,831,579$1,201,954$903,960$2,322,884
84$3,069,346$1,209,796$883,189$2,479,972
85$3,329,758$1,216,413$860,113$2,651,728
86$3,615,072$1,221,697$834,606$2,839,649
87$3,927,777$1,225,528$806,533$3,045,382
88$4,270,613$1,227,782$775,755$3,270,746
89$4,646,598$1,228,325$742,125$3,517,746
90$5,059,055$1,227,017$705,491$3,788,596
91$5,511,646$1,223,708$665,692$4,085,733
92$6,008,403$1,218,239$622,562$4,411,849
93$6,553,769$1,210,441$575,926$4,769,910
94$7,152,635$1,200,135$525,601$5,163,188
95$7,810,393$1,187,130$471,398$5,595,290
96$8,532,980$1,171,227$413,117$6,070,197
97$9,326,937$1,152,210$350,550$6,592,293
98$10,199,472$1,129,856$283,480$7,166,418
99$11,158,522$1,103,923$211,681$7,797,904
100$12,212,835$1,074,159$134,916$8,492,633