Can I retire at age 70 with 983,000?

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 $983,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.8%
1 years$81,175$80,452$79,747$79,058$78,386$76,835
2 years$40,186$39,437$38,712$38,009$37,327$35,770
3 years$26,524$25,773$25,049$24,353$23,682$22,169
4 years$19,695$18,946$18,229$17,545$16,890$15,432
5 years$15,599$14,854$14,147$13,476$12,839$11,441
6 years$12,868$12,129$11,433$10,777$10,159$8,822
7 years$10,919$10,186$9,501$8,860$8,262$6,986
8 years$9,458$8,731$8,057$7,433$6,854$5,639
9 years$8,322$7,602$6,940$6,331$5,772$4,617
10 years$7,413$6,701$6,050$5,457$4,918$3,821
11 years$6,671$5,965$5,327$4,750$4,230$3,191
12 years$6,052$5,354$4,727$4,166$3,666$2,682
13 years$5,530$4,839$4,223$3,678$3,196$2,267
14 years$5,082$4,398$3,795$3,265$2,802$1,926
15 years$4,694$4,018$3,426$2,912$2,467$1,642
16 years$4,355$3,686$3,106$2,607$2,180$1,404
17 years$4,056$3,395$2,827$2,342$1,933$1,204
18 years$3,791$3,137$2,580$2,111$1,719$1,034
19 years$3,554$2,907$2,362$1,907$1,532$891
20 years$3,341$2,702$2,168$1,728$1,369$768
21 years$3,148$2,517$1,994$1,568$1,225$663
22 years$2,974$2,349$1,838$1,426$1,098$573
23 years$2,814$2,197$1,697$1,298$985$496
24 years$2,668$2,059$1,569$1,184$886$430
25 years$2,534$1,932$1,454$1,081$797$373
26 years$2,411$1,816$1,348$989$718$323
27 years$2,297$1,709$1,252$905$647$281
28 years$2,191$1,610$1,164$829$584$244
29 years$2,093$1,519$1,083$760$527$212
30 years$2,001$1,434$1,009$698$477$184
31 years$1,915$1,356$940$641$431$160
32 years$1,835$1,283$877$589$390$139
33 years$1,760$1,215$819$542$353$121
34 years$1,690$1,152$765$498$319$105
35 years$1,624$1,092$716$459$289$91
36 years$1,561$1,037$669$423$262$80
37 years$1,502$985$627$389$238$69
38 years$1,447$936$587$359$215$60
39 years$1,394$890$550$331$195$52
40 years$1,344$847$515$305$177$46
41 years$1,297$806$483$282$161$40
42 years$1,252$768$453$260$146$35
43 years$1,209$731$425$240$132$30
44 years$1,168$697$399$221$120$26
45 years$1,129$665$375$205$109$23
46 years$1,092$634$352$189$99$20
47 years$1,057$605$331$175$90$17
48 years$1,023$578$311$161$82$15
49 years$991$552$292$149$74$13
50 years$960$527$275$138$67$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $983,000, adding $2,711 every year, while hoping to spend $27,963 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: 78/17/5 Blend
69$983,000$983,000$983,000$983,000
70$1,086,062$1,033,963$1,018,727$1,170,315
71$1,167,088$1,054,875$1,023,102$1,246,832
72$1,255,442$1,075,874$1,026,686$1,326,791
73$1,351,840$1,096,936$1,029,424$1,413,635
74$1,457,075$1,118,032$1,031,256$1,508,037
75$1,572,014$1,139,134$1,032,121$1,610,734
76$1,697,617$1,160,208$1,031,954$1,722,541
77$1,834,936$1,181,221$1,030,687$1,844,355
78$1,985,133$1,202,134$1,028,248$1,977,163
79$2,149,486$1,222,908$1,024,564$2,122,053
80$2,329,401$1,243,499$1,019,555$2,280,222
81$2,526,429$1,263,859$1,013,139$2,452,989
82$2,742,276$1,283,940$1,005,230$2,641,810
83$2,978,821$1,303,685$995,739$2,848,283
84$3,238,134$1,323,039$984,569$3,074,174
85$3,522,495$1,341,939$971,623$3,321,426
86$3,834,413$1,360,317$956,796$3,592,179
87$4,176,654$1,378,104$939,980$3,888,793
88$4,552,265$1,395,223$921,061$4,213,866
89$4,964,600$1,411,594$899,921$4,570,262
90$5,417,356$1,427,128$876,434$4,961,136
91$5,914,603$1,441,734$850,472$5,389,964
92$6,460,827$1,455,313$821,897$5,860,577
93$7,060,968$1,467,760$790,567$6,377,196
94$7,720,469$1,478,963$756,333$6,944,471
95$8,445,326$1,488,802$719,040$7,567,529
96$9,242,147$1,497,150$678,525$8,252,015
97$10,118,207$1,503,872$634,618$9,004,154
98$11,081,527$1,508,825$587,140$9,830,803
99$12,140,941$1,511,855$535,907$10,739,520
100$13,306,181$1,512,800$480,724$11,738,630