Can I retire at age 70 with 979,000?

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 $979,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.2%
1 years$80,845$80,125$79,422$78,736$78,067$76,087
2 years$40,022$39,277$38,554$37,854$37,175$35,193
3 years$26,416$25,668$24,947$24,253$23,585$21,663
4 years$19,615$18,869$18,155$17,473$16,821$14,974
5 years$15,535$14,793$14,089$13,421$12,787$11,020
6 years$12,816$12,080$11,386$10,733$10,118$8,433
7 years$10,875$10,145$9,462$8,824$8,229$6,625
8 years$9,419$8,696$8,024$7,402$6,826$5,304
9 years$8,288$7,571$6,911$6,305$5,749$4,306
10 years$7,383$6,674$6,026$5,435$4,898$3,534
11 years$6,644$5,941$5,305$4,730$4,213$2,924
12 years$6,028$5,332$4,708$4,149$3,651$2,436
13 years$5,507$4,819$4,206$3,663$3,183$2,040
14 years$5,061$4,380$3,779$3,252$2,791$1,716
15 years$4,675$4,002$3,412$2,900$2,457$1,449
16 years$4,337$3,671$3,094$2,596$2,172$1,227
17 years$4,040$3,381$2,815$2,333$1,925$1,041
18 years$3,776$3,124$2,570$2,102$1,712$886
19 years$3,540$2,896$2,353$1,900$1,526$755
20 years$3,327$2,691$2,159$1,721$1,363$644
21 years$3,136$2,506$1,986$1,562$1,220$550
22 years$2,961$2,340$1,830$1,420$1,093$470
23 years$2,803$2,188$1,690$1,293$981$403
24 years$2,657$2,050$1,563$1,179$882$345
25 years$2,524$1,924$1,448$1,077$794$296
26 years$2,401$1,808$1,343$985$715$254
27 years$2,287$1,702$1,247$901$645$218
28 years$2,182$1,604$1,159$826$582$187
29 years$2,084$1,513$1,079$757$525$160
30 years$1,993$1,429$1,005$695$475$138
31 years$1,908$1,351$937$638$429$118
32 years$1,828$1,278$874$587$388$102
33 years$1,753$1,210$816$539$351$88
34 years$1,683$1,147$762$496$318$75
35 years$1,617$1,088$713$457$288$65
36 years$1,555$1,033$667$421$261$56
37 years$1,496$981$624$388$237$48
38 years$1,441$932$584$357$214$41
39 years$1,388$886$548$330$194$35
40 years$1,338$843$513$304$176$30
41 years$1,291$803$481$280$160$26
42 years$1,246$764$451$259$145$23
43 years$1,204$728$424$239$132$19
44 years$1,163$694$398$221$120$17
45 years$1,125$662$373$204$109$14
46 years$1,088$632$351$188$99$12
47 years$1,052$603$329$174$90$11
48 years$1,019$575$310$161$81$9
49 years$987$549$291$148$74$8
50 years$956$525$274$137$67$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $979,000, adding $5,462 every year, while hoping to spend $46,616 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: 87/7/6 Blend
69$979,000$979,000$979,000$979,000
70$1,084,492$1,032,605$1,017,431$1,178,130
71$1,145,511$1,033,604$1,001,915$1,240,945
72$1,211,192$1,033,089$984,318$1,302,934
73$1,281,960$1,030,937$964,520$1,369,549
74$1,358,285$1,027,018$942,396$1,441,221
75$1,440,680$1,021,191$917,816$1,518,426
76$1,529,711$1,013,311$890,644$1,601,686
77$1,625,998$1,003,220$860,737$1,691,577
78$1,730,224$990,753$827,947$1,788,731
79$1,843,141$975,733$792,117$1,893,847
80$1,965,573$957,975$753,084$2,007,691
81$2,098,427$937,282$710,678$2,131,109
82$2,242,702$913,444$664,721$2,265,032
83$2,399,495$886,241$615,027$2,410,484
84$2,570,015$855,438$561,402$2,568,594
85$2,755,589$820,787$503,641$2,740,606
86$2,957,680$782,026$441,534$2,927,888
87$3,177,897$738,879$374,859$3,131,950
88$3,418,009$691,051$303,384$3,354,453
89$3,679,966$638,232$226,867$3,597,227
90$3,965,912$580,095$145,056$3,862,290
91$4,278,208$516,293$57,689$4,151,863
92$4,619,453$446,459$0$4,468,395
93$4,992,508$370,206$0$4,816,858
94$5,400,524$287,127$0$5,202,038
95$5,846,969$196,788$0$5,623,532
96$6,335,663$98,733$0$6,084,968
97$6,870,811$0$0$6,590,343
98$7,457,045$0$0$7,144,639
99$8,099,465$0$0$7,760,404
100$8,803,688$0$0$8,435,418