Can I retire at age 70 with 987,000?

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 $987,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.6%
1 years$81,506$80,780$80,071$79,380$78,705$75,672
2 years$40,349$39,598$38,870$38,163$37,478$34,459
3 years$26,632$25,878$25,151$24,452$23,778$20,867
4 years$19,775$19,023$18,304$17,616$16,959$14,178
5 years$15,662$14,914$14,204$13,531$12,892$10,249
6 years$12,921$12,178$11,479$10,821$10,201$7,698
7 years$10,963$10,227$9,539$8,896$8,296$5,932
8 years$9,496$8,767$8,090$7,463$6,882$4,655
9 years$8,356$7,633$6,968$6,357$5,796$3,701
10 years$7,444$6,728$6,075$5,480$4,938$2,973
11 years$6,698$5,990$5,348$4,769$4,247$2,407
12 years$6,077$5,376$4,746$4,183$3,680$1,960
13 years$5,552$4,858$4,241$3,693$3,209$1,604
14 years$5,102$4,416$3,810$3,278$2,813$1,318
15 years$4,713$4,034$3,440$2,924$2,477$1,086
16 years$4,373$3,701$3,119$2,618$2,189$897
17 years$4,073$3,409$2,838$2,352$1,941$743
18 years$3,806$3,150$2,591$2,120$1,726$616
19 years$3,568$2,919$2,372$1,915$1,538$512
20 years$3,355$2,713$2,177$1,735$1,374$425
21 years$3,161$2,527$2,002$1,574$1,230$354
22 years$2,986$2,359$1,845$1,431$1,102$295
23 years$2,826$2,206$1,704$1,304$989$246
24 years$2,679$2,067$1,576$1,189$889$205
25 years$2,545$1,940$1,459$1,086$800$171
26 years$2,421$1,823$1,354$993$721$143
27 years$2,306$1,716$1,257$909$650$119
28 years$2,200$1,617$1,168$833$586$99
29 years$2,101$1,525$1,087$764$530$83
30 years$2,009$1,440$1,013$701$478$69
31 years$1,923$1,362$944$644$433$58
32 years$1,843$1,288$881$591$391$48
33 years$1,768$1,220$823$544$354$40
34 years$1,697$1,156$769$500$321$34
35 years$1,630$1,097$719$461$290$28
36 years$1,568$1,041$672$424$263$24
37 years$1,508$989$629$391$238$20
38 years$1,452$940$589$360$216$17
39 years$1,400$893$552$332$196$14
40 years$1,349$850$517$306$178$12
41 years$1,302$809$485$283$161$10
42 years$1,257$771$455$261$146$8
43 years$1,214$734$427$241$133$7
44 years$1,173$700$401$222$121$6
45 years$1,134$667$376$205$109$5
46 years$1,097$637$354$190$99$4
47 years$1,061$608$332$175$90$3
48 years$1,027$580$312$162$82$3
49 years$995$554$293$150$74$2
50 years$964$529$276$138$68$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $987,000, adding $6,997 every year, while hoping to spend $47,463 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: 55/17/28 Blend
69$987,000$987,000$987,000$987,000
70$1,094,891$1,042,580$1,027,282$1,146,279
71$1,156,070$1,043,167$1,011,196$1,183,069
72$1,221,898$1,042,191$992,980$1,217,640
73$1,292,800$1,039,526$972,513$1,254,336
74$1,369,241$1,035,039$949,667$1,293,381
75$1,451,733$1,028,585$924,311$1,335,020
76$1,540,839$1,020,015$896,304$1,379,527
77$1,637,176$1,009,167$865,501$1,427,205
78$1,741,423$995,871$831,751$1,478,393
79$1,854,327$979,947$794,893$1,533,465
80$1,976,708$961,204$754,762$1,592,835
81$2,109,469$939,440$711,184$1,656,965
82$2,253,603$914,441$663,976$1,726,365
83$2,410,200$885,979$612,950$1,801,602
84$2,580,463$853,814$557,906$1,883,305
85$2,765,712$817,693$498,637$1,972,167
86$2,967,401$777,345$434,927$2,068,960
87$3,187,128$732,488$366,550$2,174,538
88$3,426,655$682,820$293,270$2,289,845
89$3,687,919$628,023$214,839$2,415,927
90$3,973,052$567,761$131,001$2,553,944
91$4,284,400$501,679$41,487$2,705,176
92$4,624,549$429,400$0$2,871,041
93$4,996,341$350,529$0$3,069,254
94$5,402,908$264,646$0$3,299,681
95$5,847,700$171,308$0$3,551,924
96$6,334,511$70,048$0$3,828,201
97$6,867,523$0$0$4,130,956
98$7,451,339$0$0$4,470,300
99$8,091,030$0$0$4,856,569
100$8,792,178$0$0$5,280,041