Can I retire at age 70 with 978,000?

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 $978,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.1%
1 years$80,762$80,043$79,341$78,656$77,987$76,350
2 years$39,981$39,237$38,515$37,815$37,137$35,495
3 years$26,389$25,642$24,922$24,229$23,561$21,966
4 years$19,595$18,849$18,137$17,455$16,804$15,268
5 years$15,519$14,778$14,075$13,407$12,774$11,302
6 years$12,803$12,067$11,375$10,722$10,108$8,700
7 years$10,863$10,134$9,452$8,815$8,220$6,878
8 years$9,410$8,687$8,016$7,395$6,820$5,542
9 years$8,279$7,563$6,904$6,299$5,743$4,529
10 years$7,376$6,667$6,019$5,430$4,893$3,742
11 years$6,637$5,935$5,299$4,725$4,208$3,118
12 years$6,022$5,327$4,703$4,145$3,647$2,616
13 years$5,501$4,814$4,202$3,659$3,180$2,207
14 years$5,056$4,376$3,775$3,248$2,788$1,871
15 years$4,670$3,997$3,409$2,897$2,455$1,592
16 years$4,333$3,668$3,091$2,594$2,169$1,358
17 years$4,036$3,378$2,812$2,331$1,923$1,162
18 years$3,772$3,121$2,567$2,100$1,710$996
19 years$3,536$2,893$2,350$1,898$1,524$856
20 years$3,324$2,688$2,157$1,719$1,362$737
21 years$3,132$2,504$1,984$1,560$1,219$635
22 years$2,958$2,337$1,828$1,418$1,092$547
23 years$2,800$2,186$1,688$1,292$980$473
24 years$2,655$2,048$1,561$1,178$881$408
25 years$2,521$1,922$1,446$1,076$793$353
26 years$2,399$1,806$1,341$984$714$306
27 years$2,285$1,700$1,245$900$644$265
28 years$2,180$1,602$1,158$825$581$229
29 years$2,082$1,511$1,077$757$525$199
30 years$1,991$1,427$1,004$694$474$172
31 years$1,906$1,349$936$638$429$149
32 years$1,826$1,277$873$586$388$129
33 years$1,751$1,209$815$539$351$112
34 years$1,681$1,146$762$496$318$97
35 years$1,615$1,087$712$456$288$85
36 years$1,553$1,032$666$420$261$73
37 years$1,495$980$623$387$236$64
38 years$1,439$931$584$357$214$55
39 years$1,387$885$547$329$194$48
40 years$1,337$842$513$304$176$42
41 years$1,290$802$481$280$160$36
42 years$1,245$764$451$259$145$31
43 years$1,203$728$423$239$132$27
44 years$1,162$694$397$220$119$24
45 years$1,123$661$373$204$108$21
46 years$1,087$631$350$188$98$18
47 years$1,051$602$329$174$89$16
48 years$1,018$575$309$160$81$14
49 years$986$549$291$148$74$12
50 years$955$524$273$137$67$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $978,000, adding $3,920 every year, while hoping to spend $43,739 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: 61/22/17 Blend
69$978,000$978,000$978,000$978,000
70$1,081,799$1,029,965$1,014,806$1,142,881
71$1,145,605$1,033,896$1,002,265$1,188,456
72$1,214,453$1,036,553$987,836$1,232,931
73$1,288,811$1,037,828$971,413$1,280,444
74$1,369,194$1,037,606$952,880$1,331,294
75$1,456,167$1,035,764$932,116$1,385,812
76$1,550,352$1,032,172$908,998$1,444,365
77$1,652,432$1,026,692$883,393$1,507,357
78$1,763,158$1,019,178$855,165$1,575,235
79$1,883,357$1,009,475$824,170$1,648,493
80$2,013,937$997,417$790,258$1,727,679
81$2,155,899$982,831$753,271$1,813,396
82$2,310,342$965,530$713,047$1,906,313
83$2,478,476$945,320$669,413$2,007,168
84$2,661,632$921,993$622,191$2,116,777
85$2,861,277$895,329$571,193$2,236,041
86$3,079,023$865,096$516,223$2,365,957
87$3,316,644$831,046$457,077$2,507,625
88$3,576,095$792,921$393,542$2,662,261
89$3,859,526$750,444$325,396$2,831,209
90$4,169,305$703,323$252,404$3,015,951
91$4,508,039$651,251$174,324$3,218,128
92$4,878,599$593,901$90,903$3,439,548
93$5,284,143$530,930$1,876$3,682,210
94$5,728,153$461,972$0$3,948,321
95$6,214,460$386,644$0$4,257,211
96$6,747,284$304,539$0$4,596,139
97$7,331,274$215,228$0$4,967,788
98$7,971,547$118,258$0$5,375,495
99$8,673,741$13,149$0$5,822,939
100$9,444,065$0$0$6,314,176