Can I retire at age 70 with 977,000?

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 $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%13.7%
1 years$80,680$79,961$79,260$78,576$77,907$76,711
2 years$39,940$39,197$38,476$37,777$37,099$35,897
3 years$26,362$25,615$24,896$24,204$23,537$22,366
4 years$19,575$18,830$18,118$17,438$16,787$15,657
5 years$15,503$14,763$14,060$13,394$12,761$11,674
6 years$12,790$12,055$11,363$10,711$10,097$9,056
7 years$10,852$10,124$9,443$8,806$8,212$7,215
8 years$9,400$8,678$8,008$7,387$6,813$5,861
9 years$8,271$7,556$6,897$6,292$5,737$4,830
10 years$7,368$6,660$6,013$5,424$4,888$4,025
11 years$6,630$5,929$5,294$4,721$4,204$3,384
12 years$6,015$5,322$4,698$4,141$3,643$2,865
13 years$5,496$4,809$4,198$3,655$3,177$2,440
14 years$5,051$4,371$3,772$3,245$2,785$2,087
15 years$4,665$3,993$3,405$2,894$2,452$1,793
16 years$4,328$3,664$3,087$2,591$2,167$1,545
17 years$4,032$3,374$2,809$2,328$1,922$1,335
18 years$3,768$3,118$2,565$2,098$1,709$1,157
19 years$3,532$2,890$2,348$1,896$1,523$1,004
20 years$3,321$2,685$2,155$1,717$1,360$873
21 years$3,129$2,501$1,982$1,558$1,217$760
22 years$2,955$2,335$1,827$1,417$1,091$663
23 years$2,797$2,184$1,687$1,290$979$579
24 years$2,652$2,046$1,560$1,177$880$506
25 years$2,519$1,920$1,445$1,075$792$442
26 years$2,396$1,805$1,340$983$714$387
27 years$2,283$1,698$1,244$900$643$339
28 years$2,178$1,600$1,157$824$580$297
29 years$2,080$1,510$1,076$756$524$260
30 years$1,989$1,426$1,003$694$474$228
31 years$1,904$1,348$935$637$428$200
32 years$1,824$1,275$872$585$387$176
33 years$1,750$1,208$814$538$351$154
34 years$1,680$1,145$761$495$317$135
35 years$1,614$1,086$711$456$287$119
36 years$1,552$1,030$665$420$260$104
37 years$1,493$979$623$387$236$92
38 years$1,438$930$583$357$214$81
39 years$1,385$884$546$329$194$71
40 years$1,336$841$512$303$176$62
41 years$1,289$801$480$280$160$55
42 years$1,244$763$450$258$145$48
43 years$1,201$727$423$238$132$42
44 years$1,161$693$397$220$119$37
45 years$1,122$661$373$203$108$33
46 years$1,085$630$350$188$98$29
47 years$1,050$601$329$173$89$25
48 years$1,017$574$309$160$81$22
49 years$985$548$290$148$74$20
50 years$954$524$273$137$67$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $977,000, adding $5,510 every year, while hoping to spend $24,108 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: 49/31/20 Blend
69$977,000$977,000$977,000$977,000
70$1,082,338$1,030,557$1,015,413$1,129,045
71$1,167,085$1,055,403$1,023,779$1,186,868
72$1,259,669$1,080,659$1,031,617$1,246,752
73$1,360,863$1,106,319$1,038,884$1,311,302
74$1,471,520$1,132,377$1,045,534$1,380,964
75$1,592,576$1,158,825$1,051,521$1,456,234
76$1,725,065$1,185,654$1,056,794$1,537,655
77$1,870,125$1,212,854$1,061,299$1,625,829
78$2,029,008$1,240,414$1,064,983$1,721,416
79$2,203,092$1,268,320$1,067,785$1,825,145
80$2,393,898$1,296,558$1,069,647$1,937,818
81$2,603,098$1,325,112$1,070,502$2,060,320
82$2,832,534$1,353,962$1,070,284$2,193,628
83$3,084,237$1,383,091$1,068,923$2,338,814
84$3,360,441$1,412,474$1,066,343$2,497,065
85$3,663,608$1,442,087$1,062,468$2,669,685
86$3,996,451$1,471,905$1,057,216$2,858,114
87$4,361,957$1,501,896$1,050,501$3,063,938
88$4,763,418$1,532,031$1,042,234$3,288,905
89$5,204,459$1,562,272$1,032,321$3,534,942
90$5,689,075$1,592,584$1,020,665$3,804,173
91$6,221,664$1,622,924$1,007,161$4,098,941
92$6,807,075$1,653,249$991,702$4,421,825
93$7,450,648$1,683,510$974,175$4,775,671
94$8,158,267$1,713,655$954,463$5,163,614
95$8,936,414$1,743,628$932,442$5,589,112
96$9,792,232$1,773,369$907,982$6,055,974
97$10,733,588$1,802,813$880,948$6,568,401
98$11,769,153$1,831,889$851,199$7,131,021
99$12,908,479$1,860,524$818,586$7,748,939
100$14,162,091$1,888,637$782,955$8,427,780